The Pros & Cons of Your Video Strategy
Video content: the apparent holy grail of content. But before your brand starts picking up tripods, boom microphones, and a clapperboard - let's think about this for a second. Should every brand adopt a video strategy? Well, if you know what we’re all about here at Truly, you’ll know that we’d like to talk about your audience and what they’re looking for, first. In the meantime, let’s take a look at the pros and cons of adopting video...
CON # 1 - A high barrier to entry
Starting out with video content is not as simple as hopping online and firing out some tweets (although, you shouldn’t be doing that, either - remember strategy, people!) and therein lies the first - and arguably largest - hurdle: a high barrier to entry. To do video well, you’ll need certain skills and there are lots of steps to take, whether you’re acquiring these skills yourself or outsourcing.
That being said, there are a lot of individuals who’ve become successful on YouTube or other platforms simply by recording themselves on a webcam or camera phone. But low-fi doesn’t exactly mesh well with many professional brands, so you’ll likely want much more polish in your videos. This means better skills, resources, lighting & sound from the get-go… which all adds up the high barrier to entry.
PRO # 1 - A high barrier to entry?
That’s right. A high barrier to entry can also work in your favour. If you invest the time to learn about and adopt a video strategy, your competition will also have to jump through these same hoops to produce content that is up to your standard. At this point, you’ll be far enough ahead in your strategy that they’re always struggling to keep up. The key here is to begin your journey into video early. Although there is indeed a high barrier to entry, that doesn’t mean you have to be perfect in the beginning. Your content can even be self-aware enough to acknowledge past mistakes and allow your audience to grow with you.
CON # 2 - Cost and time investment
This goes hand in hand with the high barrier to entry. Because of the high level of skill needed, the cost of continued video production can be pretty high. Of course, you can do it yourself and learn how to shoot and edit on your own content but if time is money, you’d be better off outsourcing your video production. On one end, you have a plethora of free social platforms that you can tap into, and on the other is video - which if you want to do correctly, requires an investment of both time and money.
PRO # 2 - Deeper engagement and relationship building
Despite the seemingly high investment required, video is the most engaging form of content. A well-made video will combine text, images, and music - keeping your viewers interested and making it easier to sell your brand. Video allows your brand to tell a story unlike any other medium, and we know how a great story sells. Video platforms and social media allow for your video to be much more sharable, too. Furthermore, videos are so personal - your customers love the intimacy of hearing voices and seeing faces, which allows your brand to really build a relationship with them. Take a look at our work with PWL Capital to see how we created multiple, successful video series based on these factors. So yes, video content may be costly, but depending on your audience, your results may end up being far greater than your investment.
CON # 3 - Slow grown-up adoption (comparatively)
YouTube, for example, has over 2 billion users. However, the majority of this audience is younger. If your brand is aiming at younger people, this is good news. But what if your brand is aiming for a more mature audience? The 35+ and 55+ age groups are much smaller in comparison to the majority of YouTube viewers. However, this isn’t all doom and gloom because these two groups are actually the fasting growing audience groups. What we’re trying to say here is that your content probably won’t go viral - which is fine, because you’re trying to build a long term, sustainable relationship with your consumers, not become a one-hit wonder. You don’t need screaming fans, you need business.
PRO # 3 - SEO Benefits (especially on YouTube)
YouTube, being a Google property - means that a well-optimized, useful video is going to get you a fantastic spot in search spots. What do you do when you have a problem? You Google it. How does that benefit your product or service? Well, more and more people are searching on YouTube about how to fix their leaky kitchen faucet, or maximize their investments. If your SEO is on point and your video content gives your audience what they’re looking for, you've got a great chance of appearing in a good position in their search results. Don’t forget, word of mouth (online and offline) may also lead to a lot of potential customers finding their way to your video content, and into your business.
In conclusion, the cons of video are a high barrier to entry, cost and time, and slow grown-up adoption. The pros being a high barrier to entry (for your competition), deeper engagement/relationship building, and SEO benefits. Video is engaging and is rapidly becoming the preferred medium of choice for marketers and audiences alike - it can be, however, overdone and sometimes terribly executed. The key to knowing if your brand should adopt a video strategy is to understand your audience and build a full picture of the type of content they’re looking for before taking the (potentially costly) leap.