What's the life expectancy and cost of a marketing video?
Well, it depends on a few factors...
First let's assume the video was created professionally because otherwise, like anything else, the lifespan will be much less. A professionally made video is made using full HD cameras, recording media, stabilization gear, professional lighting equipment, and camera enhancement equipment (e.g. jib, slider, etc.). A professional video is not shot on your iPhone or by your nephew using his DSLR; and the quality difference shows when your potential customers look at it. If you produce a low quality video after a short time you're going to start to dislike the video, be embarrassed about it and it could even start to work against you. These videos end up getting a very short shelf life because companies feel the video does not showcase “who they are” and “what they do” in the best light, and end up taking them off the web.
Now if the video is well crafted, from pre-production through the final edit, then the video can last at least 5 years depending on the changes of your industry. Let's say for instance you're a roofing contractor and you've invested $6,000 in a professional video. Of course there are a few factors that can change the cost of a video, either lower or higher, but this is a good average. The roofing contractor can use the video for 5 years as the most powerful marketing tool they have in their arsenal.
As far as the cost of the video I always like to divide the cost, or rather the investment, by the number of years it will last. An investment of a $6,000 video comes to $1,200 per year or only $100 per month or about $3 per day of marketing budget. (Heck a that's less than a cappuccino and it lasts much longer!)
Another way to look at the cost is to compare it to other marketing material options. At Motion Source we created a video for a local furniture store and in the first year alone the video got over 8,600 views; over a five-year period that would result in upwards of 43,000 views. If the furniture storeowner decided instead to send out postcard mailers to try to gain new business, 43,000 postcards printed and with postage would cost more than $21,000. Also, I think everyone would agree that a video is much more exciting and convincing than even the most dynamic postcard mailer.
Now let's say you're investing money in a Google AdWords campaign, a single click can cost you upwards of $5 and where is that click taking prospects?
Most likely to your website and what are they then looking at? Probably text, a logo, some photos and navigation choices. If so, then you're missing the biggest opportunity to sell this prospect on your company. I'm sure you're probably spending a good amount of money each day to get prospects to your website but you're not giving them what they want...a video.
Think about it...what do you want to see when you're in the market to buy something? It's a video! This is because a video can show and tell you how something works, you can meet the people you'll be working with, it answers questions and informs you while building trust and confidence that this is the best choice.
Video also sells with more than just moving pictures; it can use still photos from your past portfolio, music, interviews, testimonials, narration, text, charts, graphics, demonstrations and more. It can even have a call to action button once the video ends and prospects can just click a link to take them to a contact form that gets emailed directly to you. Below you can view our Profile Video and at the end of the video you will see our call to action button.
So, what's the cost of a video and how long will it last?
A good average to base it off of is 5 years and the cost is as little as $3 per day, but the real question is...what's the cost of not having a video?
How much business am I losing out on because I haven't invested in a professional video?
Remember videos are the hottest and most popular selling tool today and with the ever expansion of smartphone use, prospects can watch them in the palm of their hands from anywhere in the world.
Invest in professional video and get more business!