How Brands are Investing in Video Marketing On a Budget [2022 Data]

In keeping with 2022 HubSpot Weblog Analysis, 31% of video entrepreneurs surveyed say their largest problem is having an insufficient funds to create video content material.

On this article, we’ll cowl what it prices to run a video advertising marketing campaign and what manufacturers are investing in essentially the most this 12 months.

How a lot are entrepreneurs spending on video advertising?

This 12 months, we wished to be taught extra about how entrepreneurs method video advertising, together with the methods they leverage, the returns they get, and the quantity they make investments.

We surveyed over 500+ world entrepreneurs and right here’s what we found.

Firstly, the info means that video advertising is a prime content material format for manufacturers – with 31% of entrepreneurs surveyed allocating 21 to 40% of their complete advertising funds to video.

One other 30% allocate 41 to 60% of their complete funds to video advertising.

Video is so vital that 52% of entrepreneurs say their funds elevated in 2022. Nonetheless, the rise is extra current in B2B manufacturers.

Now, in terms of quarterly budgets, right here’s the breakdown:

• Many manufacturers have a conservative funds with 15% of respondents allocating solely $1K and $10K.
• 11% of entrepreneurs surveyed funds $10K and 20K.
• The preferred funds bracket is between $20K and $60K, adopted by 26% of entrepreneurs surveyed.
• On the upper finish, 16% of entrepreneurs surveyed say they allocate $80K to 100K whereas 20% make investments between $100K and $200K.
• Solely a small proportion of corporations surveyed (10%) funds over $200K.

Now that you know the way a lot entrepreneurs are investing in video advertising, let’s break down how they’re spending it.

What are video entrepreneurs spending their funds on?

When requested, “Which a part of the video creation course of is most costly?” 65% of entrepreneurs surveyed answered manufacturing.

Manufacturing is the method of filming your content material and organising the tools wanted to seize the footage, akin to lighting, audio, and props.

In keeping with entrepreneurs surveyed, manufacturing takes up 24% of the typical video marketer’s funds.

Pre-production (ideation, scripting, casting) and post-production (enhancing and exporting) are tied because the second-highest price. Then it’s tied once more between the price of video manufacturing and distribution and on-camera expertise.

On common, 91% of entrepreneurs surveyed say they spend below $50,000 to create a advertising video.

Most (53%) say they spend below $10,000 and 16% spend below $1,000. Solely a small proportion of respondents say they spend over $100K.

Video Advertising Strategies to Use on a Finances

1. Weigh your choices.

In keeping with our video advertising information, 69% of video entrepreneurs surveyed personal manufacturing tools whereas 10 p.c hire, and the remaining group does each.

There’s an argument to be made for each.

On one finish, creating movies in-house might be cheaper. Nonetheless, outdoors companies can present higher-quality content material.

Actually, most smaller manufacturers (these with 200 staff or much less) imagine creating video content material by way of an out of doors company provides a greater ROI than doing so in-house.

Nonetheless, throughout all enterprise sizes, roughly a 3rd of respondents say the ROI is about the identical both means.

With that stated, it’s vital to weigh your choices and assess when and what it’s best to hire versus personal.

Upon first look, it would appear to be renting is the smarter (and extra reasonably priced) possibility. Nonetheless, most entrepreneurs surveyed (58%) say creating content material in-house is cheaper.

To make this choice, take into account the kind of content material you’ll be producing and the tools you’ll want.

That is key in figuring out what’s extra cost-efficient.

In case you’re a make-up model for example, you’ll be able to in all probability produce nice content material sitting in entrance of a digicam merely showcasing your merchandise in motion with good lighting. Nonetheless, for those who’re a journey and hospitality model, you’ll probably want props, on-camera expertise, location, and lots of extra components to satisfy your imaginative and prescient. On this case, it might be cheaper to outsource.

2. Separate need-to-haves from must-haves.

On the subject of video tools, there’ll at all times be greater and higher on the market.

If there’s one space it’s best to give attention to, it’s lighting.

Many imagine that having the very best digicam does the trick however the fact is, lighting is what makes or breaks the standard of a video.

Lighting units the tone and temper of a video, two components you’ll want to preserve your viewers’s consideration in a video.

Sound is one other space to splurge on – particularly your mics. This may improve the standard of your video, particularly if you need to accept low-end cameras.

As for all the pieces else, (the digicam, the lens, the equipment), these are nice add-ons however for those who’re on a funds, you can also make do with low to mid-range choices whereas nonetheless getting a high-quality outcome.

3. Leverage user-generated content material.

In keeping with HubSpot Weblog Analysis, the primary problem video entrepreneurs face is a scarcity of time to create video content material.

Properly, who stated you needed to create your content material from scratch? You’re probably sitting on a pile of content material out of your clients proper now.

In case you have a powerful social media presence, you probably have a financial institution of user-generated content material starting from photographs to movies and textual content. You may leverage all of those for campaigns and use them to complement your individual content material.

As an illustration, forward of the official Fenty Magnificence fragrance launch, its founder and musician Rihanna posted what gave the impression to be an advert.

It was a video compilation of varied celebrities and influencers mentioning how good she smells – “like heaven” was a phrase heard a number of occasions.

simply sayin’ 🤷🏿‍♀️… pic.twitter.com/EmC4ysMdjR

— Rihanna (@rihanna) August 10, 2021

With out ever having to provide their very own video, the model leveraged UGC to construct anticipation surrounding this launch.

4. Rent scholar and newbie expertise.

On the subject of on-camera expertise, that is the place manufacturers usually battle to consider alternate options.

They normally go for an in-house creator simply to economize, though their position might not give attention to this space in any respect. Or they contract expertise, which might be pricey.

Right here’s a 3rd possibility: Attain out to college students and newbie actors.

In some instances, cash isn’t the primary motivator. It may possibly usually be publicity, gaining expertise, or build up a portfolio. Nonetheless, paid alternatives will at all times generate extra curiosity and may get you extra skilled expertise.

5. Use free enhancing software program.

Once you consider video enhancing, the very first thing that involves thoughts might be Adobe.

It’s the go-to software program for manufacturing professionals. Nonetheless, it’s advanced and isn’t reasonably priced. In case you personal an Apple system just like the Macbook or iPad, you’ll have free video enhancing software program already obtainable.

Whereas it doesn’t have as many options and provides restricted performance, it really works effectively for easy enhancing and you may at all times discover workarounds on platforms like YouTube.

Some free enhancing software program comes with free music or you’ll find on-line web sites that supply royalty-free music.

In case you’re intimidated by the concept of video marketing because you think you don’t have the funds, hopefully, these five techniques will change your mind.