Whether you own a video production business or are working for a company that has a production component to it, there is the opportunity to expand your services by incorporating video advertising into your arsenal of services offered.
Did you know that online video is growing fast than most other advertising formats and mediums? According to Business Insider, video ad revenue will increase at a three-year compound annual growth of 19.5% through 2016. That is faster than any other medium other than mobile.
If you have a skillset in video editing, you can capitalize on your talent with online video advertising.
Many online advertisers and digital marketers are behind the eight ball when it comes to video advertising for one simple reason… They don’t have the rich media to work with.
For video production specialists, this is where the opportunity exists. Businesses need video material for their online advertisements and don’t have the capability of producing it. The beauty is that the spots don’t have to be a major production either.
Take the following steps to create a video pre-roll spot in less than 5-hours:
1.) Create 0:15-second script
2.) Dedicate 1-hour to filming the necessary components of the spot
3.) Edit two different versions of the commercial for A vs. B testing purposes
4.) Launch your video pre-roll campaign!
Let’s say you are filming a commercial for a large business with a substantial advertising budget. If you pitch to the client that your company will place the spot online so it can receive digital exposure while having the capability to laser target to their demographic, this can be extremely lucrative.
If you take a percentage of their overall advertising for placing the ads, you can actually make more money than you did for filming the commercial spot.
In the aforementioned paragraph I mentioned pinpoint targeting. Did you know that if someone visits your website and drops off without converting, you can place a tracking pixel on the backend of your site so they will be served your video advertisement? This is called video re-marketing.
**Below are two recent success stories that will provide a visual representation regarding the benefits of video advertising. **
An apartment community in Naperville and Grandview wanted to increase conversions after someone dropped off of their site without filling out a contact form. They implemented a video re-marketing campaign and served a video pre-roll advertisement showing off all of the amenities at their property. This increased their conversion rate by more than 5% for each community after this new form of video advertising was implemented.
An interpretation company, Access 2 Interpreters, was able to increase conversions on a free translation quote by having a video pre-roll spot. The video advertisement provided top of mind awareness to the people that didn’t convert, which ultimately, increased their conversion rate percentage.
If you are video production specialists and are savvy when it comes to the online landscape, get started with online video advertising. It will diversify your portfolio and add a unique new skillset to your business.
Jason Parks, the contributor of this article, is the owner of The Media Captain, a digital video production and web design company.
