Three (3) reasons why the conditions for video projects have changed...and three (3) tips you to ensure your vendor understand this
Ten (10) years ago video content was this mystical and a very expensive thing that was produced by magicians then broadcasted consumed by your audience only from the living room altar (TV at home), the corporate conference room, or at an exhibition stage.
The technical development has fundamentally changed how we produce, consume, and measure video content today which has made video content projects a more cross-disciplinary strategic exercise.
There (3) three fundamental ways video content projects have changed which demands a more holistic strategic approach if you are to succeed with video content projects.
1 - The production costs and complexity are reduced
The tools to create video content (both production, post-production, and online streaming) have become cheaper as well as easier to use. This development is only increasing exponentially forward on.
The same trends are seen in planning and project management around video content projects. For example Today you can find actors online, collaborate through online tools, etc. A consequence of this is that there are many more video production companies in the market than before. But many vendors often only know how to make something look good but lacking other competencies such as planning, concept development, and business understanding. And these competencies are the foundation for success when it comes to the ROI of video projects.
Tip: Always ensure your vendor understands your business. You will learn that from what questions (or lack of) the vendor will ask about your business and its connection to the video project.
2 - The use of video content is ambiguous.
Due to smartphones combined with social media, video is now consumed everywhere and in every little time slot available we have available. Your audience can be reached anywhere anytime. All social media platforms prioritize video over other content pushing it up to the top of your feed through its algorithms. Due to this video content converts better than other content on social media while some social media platforms are solely video content (such as TikTok).
This development has made us (the consumers of social media) expect video in all types of communication. We now prefer video over reading in many contexts and even we expect it to be short and entertaining also if it is educational or political. This is important to keep in mind when creating your video content concepts and you should always prioritize a vendor who has this understanding.
Tip: Make sure your vendor is up to beat with how video is consumed on different platforms so the vendor can adapt the vision with the projects to the current demands
3 - The RIO video content can be measured in detail when used online.
The third fundamental changed condition for video projects is the many options for tracking the effect of your video content when distributed online. To compare this with the data you could get from broadcasting your content on TV is not even relevant since the data you can get from online distribution is so rich in comparison.
This should also influence your approach to video projects. For example, if it is a marketing project you should always ensure to get a package of content and not just one (1) which could be one-two (1-2) main videos and a variety of ads in square and story format to be used for ad spending. With this, you have the option to create a funnel that leads to your main videos but also to test different ads to learn which one to use the majority of the budget on.
Tip: Always make sure your vendor is interested in measuring the ROI of the video project.
Below is an example where we in DROBE.media has approached these three points for our clients.
JABII
Two (2) main videos were created with two very different stories to ensure to have two main strategic approaches to reach the audience. From the recording days, extra material was created which is used for social media content and for ads used to lead the audience into to a sales funnel.