$7,000,000 for a commercial, are you KIDDING ME? Well that’s what it takes for companies like Pepsi, Coca-Cola, Nike, Under Armor, Frito-Lays and many other companies that run 30 second commercials during the Super-Bowl. Whenever I hear of that number I think, isn’t it crazy that those companies that can function by just word of mouth marketing, still do that much campaigning and marketing? As I video production company I do create videos for businesses to promote their services. Here’s the crazy thing some of these companies that I approach to make videos for refuse my services because they feel that their word of mouth marketing is enough for their operations. What a world we live in, those Fortune 500 companies who don’t have to run ads, print copies and lead generate are doing everything in their power to stay relevant, even if they don’t have to. Ask a grandmother in the remote villages of Siberia if they know companies like Nike, Coca-Cola, Pepsi, Canon, Casio and the rest, her answer would be, YES!
The question remains does a small business need to market? Does it need videos to promote its brand? Does it need systems and structures to lead generate? Well they’re no Fortune 500 company so I suspect they do. There are two primary reasons why these businesses believe they don’t need to market.
- They don’t have the budget for it.
- They don’t think it is necessary (their website is low functioning, they have no strategy, they haven’t done marketing in the past, they have the best products etc.).
The first point is an easy one to tackle. More eyes equals more leads, more leads equals more prospects, more prospects equals more customers, more customers equals more sales, more sales equals an increase in revenue… you get the point. The previous article discussed how videos as opposed to texts or pictures will naturally generate more interest with people. Whether your social media is shared more or your website engages customers longer. The more you can prove to your prospects that you are different from your competitors the more chances you have to absorb more of the market share.
The second point has many, many variables. If a company’s website is low functioning, let me tell you have I seen low functioning or downright disrespectful websites. I was in talks with a Kitchen and Vanity company in Toronto and they had a showroom as part of their marketing strategy. The picture on their website was completely pixelated and the website looked like it was from the early 2000’s. Sure the business is making money, they still exists, but anyone who looks at their website will probably walk on by to their competitors, who present themselves professionally. That company should update their website altogether. Then there are those that have a professional looking website but only have texts or pictures on display. As per FORBES magazine a video is 1200% more likely to be shared comparatively to texts or videos. More eyes on your website, social media etc = more sales PERIOD.
If they have no strategy for their marketing well as I mentioned Pepsi doesn’t need one but they still do. If it comes down to resources, well that is why you have a videographer who is resourceful and will not only create videos for your business but a good videographer will also bring along strategic value for marketing. For instance Wistia, Hubspot, Askvideo and other platforms are now demanding companies to use videos instead of the traditional marketing (landing pages, email marketing, referrals, word of mouth). The success rate for a video that has a turnstile element to it is increased by 40% in comparison to traditional marketing efforts. A traditional landing page will generate a 20%-23% click through rate, a good email marketing campaign will get 20%-30% CTR but a video with a turnstile will get you a CTR of 60%. Lead your marketing efforts through video from the offset of your marketing and you will no longer walk side by side with your competitors but you will blow right by them.