Let’s look at 14 misconceptions about video advertising.
- “Video advertising isn’t for MY business.” Really? Any and all businesses can benefit from video ads. Some small businesses can feel intimidated and assume only big companies have the budget and power behind video ads. In reality, small businesses can gain more from this type of advertising, thanks to word of mouth, social media, and micro-influencers who personally “sell” your product or business every time they share your video ad. It’s not about the size of your business or your ad but how you craft the ad strategy.
- “My regular ads work for my existing customers.” It’s great that you know your customers; you should. After all, they keep your business’s lights on. But customers’ needs evolve and change; how are you keeping up with that? Video advertising shows that you keep up with the markets, times, and trends, not to mention your competitors. It’s folly to think you’re your customers’ only option, loyalty or not. If your competitor becomes THE bigger, better deal, chances are you might lose that customer.
- “Good video ads deliver immediate results.” This is one of the most common myths of advertising in general. If you’re expecting a flash mob to buy out your store based on one video ad, you’re going to be very disappointed because good ROI takes time. Look at your video ad traffic with the tools provided, and you’ll see how it’s doing and if you need to change where it runs, when it runs, and what audience you’re addressing.
- “We need professionals to make video ads.” 45% of companies go to their marketing departments to make their videos, not videographers. Major companies today use simple videos without fancy editing or graphics to get their message across. 75% of businesses make video ads as a team.
- “‘We need actors for videos.” When you’re trying to communicate with your audience and customers organically, who better to do this than you and your employees? The more natural the video and line delivery, the more customers respond and relate to your company and products. In addition, making in-house video ads can show a creative side to your business that your customers will enjoy.
- “We don’t have time to develop a video strategy.” This is a common excuse. We procrastinate because we are afraid and aren’t emotionally ready to do something challenging the status quo. Do you have an idea of what kind of video ad you’d like to make? Just using the idea as a starting point to make the ad is a great first step.
- “Sales are slowing down. I need to cut my marketing budget.” In 2008, advertising took a massive hit during that recession. Still, a few companies took the risk of increasing their ad budget by 25% and saw increases in revenue of 8% and profits of 14%, while their rivals’ profits declined by 10% or more. The companies that took the risk enjoyed the top-of-mind awareness that comes with successful brand awareness campaigns. If you stop advertising because of budgeting problems, your eventual customer loss will create even more budgeting problems.
- “B2B doesn’t need video advertising.” Whether it’s B2B or B2C, you’re still trying to attract customers and targeted leads to your business. Whether you’re doing product demos, sales pitches, how-tos, building brand awareness, or generating leads, video advertising works for so many different applications for B2B that it can’t be ignored.
- “Video ads are too expensive.” In 2020, businesses spent $300 or less to make video ads. Before 2020, marketers spent between $100 to $1000 on video ads, so it’s all in how much you want to spend and what quality level you hope to achieve in that budget.
- “Video Ads ROI isn’t trackable.” Yes, they are! If you are on Facebook, Google, Instagram, LinkedIn, or other platforms, there’s a tracking system built into the ad once it’s uploaded. The dashboard attached to the ad tells you how many views, time spent watching the video, shares, click-thru rates (CTR), and other specific demographics that you hopefully selected when you chose your audience. All that information tells you how the video ads are performing.
- “Video ads don’t do anything besides get leads.” Leads are great! Video ads go much further than just leads, though. Video ads also nurture new and old customers alike. Testimonials are great videos that retain and convert leads over time.
- “My industry is too boring for video ads.” Video ads are your company’s content, and the story comes to life. You may think your industry or company is boring, but your customers may not. This video ad is you and your brand’s time to shine, show what makes your brand unique and better than the competition. In 2020, Intel took their brand story to a whole new level in a video that transformed what was once construed as just a boring computer maker into an exciting technology company that leaps into the future.
- “Video is Only Useful For Top of Funnel” Again, video ads are more than just generating leads and awareness. How-to, customer and client education, testimonials, sales pitches, and other videos are throughout the sales funnel. According to Vidyard.com 2021 benchmark report, 93% of sales converted thanks to B2B video ads.
- “There’s no point in video advertising if they don’t go viral.” You can’t go into making a video ad with this expectation-it’s unrealistic. When it does happen, it’s a video that taps into a powerful emotion that makes it shareable. Another characteristic of viral video ads is they don’t focus directly on the product or service; they concentrate on the story they’re trying to tell. Your video ad should focus on the story you’re trying to say that involves your brand and audience. In the case of B2B video ads, you want more conversions and action than views. The goal of your video ad is to get it in front of the RIGHT audience and prompt the buyer’s journey, which doesn’t necessarily happen with viral videos.
Video advertising made a great leap forward in 2020, with brands trying to keep in customer’s minds during the pandemic. This type of advertising works for a variety of budgets, businesses, and buying journeys that fill the sales funnel from top to bottom.
Ready to take the risk and leap into video advertising? Call Digital Blue Beagle today!