Many businesses find themselves spending a small fortune every time they need to create a video - and in today's business landscape, that is often!
According to a video marketing report by HubSpot, 31% of video marketers said that an inadequate budget to create video content was one of their biggest challenges. And Wyzowl stated that “most people spend $0-500 on a typical video.”
But video content doesn't have to be expensive. In fact, there are many ways to create quality video content on a budget. It has never been easier to create videos, and now even small businesses can launch successful video campaigns with minimal investment.
In this blog post, we'll share how to create video content without breaking the bank. So whether you're just starting out or looking for ways to save money, read on for our tips!
1: Establish Key Performance Indicators (KPIs)
First, consider what you want to achieve. A clear vision is essential for any video project. Otherwise, you'll be meandering through production with no real direction. By taking the time to establish measurable KPIs, you can ensure that each video you create is assigned an appropriate budget, supports your vision, and is more likely to achieve its intended objectives.
What is the goal of the video? Brand awareness, drive conversions, or something else entirely?
What type of video do you want to create? Webinars, demos, branded videos?
How will you know the video was a success? Views, clicks, shares, conversions?
Once you know what your video content's purpose is, then establishing metrics to measure its success becomes much easier. While certain videos, by their nature, require larger budgets (branded videos), others (user-generated content) can be more cost-effective. For example, suppose it's to increase brand awareness. In that case, short-form videos may work well with a small budget, while one that aims to drive conversions might likely need something more expensive and robust, like an explainer video.
It's helpful to look at your entire video content strategy to determine all the video content you plan to produce per quarter or year and break down the budget based on importance.
2: Create for your Target Audience
Video consumption is at an all-time high, and as of 2022, 82% of all internet traffic comes from video. So what can we take away from this data? Your target audience is seeking out video content more than any other type of content online.
The internet has created an insatiable hunger for video content, and brands are struggling to meet that demand.
There’s good news, though! Consumers prefer engaging with real raw content. The real beauty of raw content is that it can be created quickly and without too much effort or budget. This means less stress for businesses, which are able to roll out videos in shorter time spans.
3: Keep it Simple Stupid
You're probably wondering if you need an expensive video production team or the latest equipment for your business's brand message and vision to come through clearly. The answer: no - not at all. In fact, sometimes, the simplest videos are the most effective. When you're just starting out - a smartphone, ring light, and lavalier mic (lav) will do. Focus on creating strong visuals and clear messaging, and don't worry about overcomplicating things.
Wyzowl conducted a survey and found that 55% create videos in-house, 12% outsource it, and 32% use a mix of both. So depending on your business objectives, the complexity of the video project, and your available resources, you can pick and choose whether to do it yourself or outsource.
There are a number of free resources available that can help you create high-quality videos without spending a lot of money. For example, many social media platforms offer free video editing tools that can be used to create videos.
If you're looking for a more professional video editing platform, Peech is a great option. With Peech, you can upload your brand kit so that every video is on brand. The platform automatically adds speaker titles, subtitles, graphic text, and music to your videos - no video editing experience needed.
4: Experiment
No one knows if the video they worked on for a month or a few minutes is going to do well - video content has no recipe. A lot of success for brands comes down to their willingness to try new things and do more of what works and less of what doesn't.
In today's fast-paced world, it's more important than ever to grab people's attention quickly. That's why it's no surprise that shorter videos tend to be more engaging than longer ones. After all, who has the time or patience to watch a 40-minute video when a million other things are competing for our attention?
But that doesn't mean that all videos should be 2 minutes or less. Sometimes a longer video is necessary to tell a complete story. The key is to find the right balance for each individual video. That means testing out different lengths and seeing what gets the most views and engagement. So don't be afraid to experiment until you find the sweet spot.
There's a common misconception that experimenting is expensive. But the truth is, experimenting is one of the cheapest things you can do. All you need is a willingness to try new things and learn from them. The best part is that the more you experiment, the better you'll get at it.
Experimentation will help you find creative ways to produce more videos with less budget, so you don't have to spend a fortune every time you create a video.
What are you waiting for? It's time to get videoing! By following these tips, you can create affordable video content that will help promote your business without breaking the bank. With many companies working with little to no budget, teams have found themselves getting creative as the demand increases for video and the cost per video they create decreases.
Are you ready to stop struggling with complicated video creation processes and start creating videos at scale?