Avoiding the backburner - How do you prove the value of video?

drubynum

drubynum

Active member
It's happened repeatedly, especially in the last couple of months: A potential client will get really excited about making a video, or series of videos. I'll work up the proposal, send it off, and within a couple of weeks, I'll hear it - "We still want to do the video, but right now we're going to put it on hold."

Granted, much of this hesitation comes from the current economy, but I don't think I'm alone here in the belief that video creates value. These folks are getting cold feet, I think, because they feel it's an extravagant expense and there is no way to prove ROI. Or is there?

I've been trying to answer this question for while now because, as a relatively new medium for businesses to be embracing, they need assurance that video is going to bring them more $$, even though many of them are still sinking money into print ads, mailers, brochures, static websites and other intangible expenses.

I've got the soft pitch down; Video sets you ahead of your competition by humanizing your company, showing your expertise, generating thought leadership, bla, bla, bla.

If I could say, "This video will bring your company 10-15% more income next year," you bet I'd be making more videos.

I've heard recently of filmmakers using distribution metrics as the currency for videos efficacy, i.e., an arrangement where the client pays only for the number of views, embeds, shares, whatever.

I'm curious if some of you guys have the same problem, and how you are dealing with it. I'd appreciate links to any articles on the monetary value of video or techniques you use to convince your clients that video is going to make them money rather than cost them money.
 
Video integrates into the web better than ever and embedded content can communicate important information to your client's existing and potential customers in ways that are often better than through other mediums.

Worry or lack of familiarity with distribution (placements) can stop the most brilliant campaign in its tracks. If a client feels that there will be significant, unknown and/or ongoing costs associated with any given project, it can be the perfect reason to put it aside. Also, advertising spend that crosses from one quarter into another or over fiscal years can confuse less savvy P&L watchers.

So, for this situation, it is possible to go in armed as an agency does with good numbers that give the client incremental spending options. For clients not ready to deal with placement-based distribution, their own website and direct-mail DVD and so on might represent a better option at the beginning. They can always add broadcast television advertising to the suite of services you're providing later.

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It can be frustrating, trying to lead the horse to water.
You'll find the best way to sell to a client is to sell to their competition first. That is to say, should a potential client decline after your bid, cold call others and sell yourself.
Many clients I pitch to are car dealers. All of them are use to advertising on television and none of them can afford to anymore, although most of them still do. I simply explain they are paying for folks to pee, hit the fridge and tivo through their spots as their competition enjoys much more affordable advertising via the web. I then show them the youtube channels and twitter pages I have set up for their immediate competition, explain how it works and quote a price. I do not sell these packages without showing them some. Selling an idea is tough. Selling a good product is not.
 
Yes

Yes

You guys are right on, this is a great topic. It's something we have to work hard to convince businesses is really going to add a lot of value to their Websites and to their overall marketing plans. I believe strongly in the value of videos to enhance corporate images and enliven a static Website. I think the cost is tiny compared to the value that it adds, but you are right, it IS tough to prove the ROI and it's tough for all companies to see it as essential rather than as a luxury item.

The issue is... it is essential. As more and more Websites have video integrated into them, these companies cannot afford to be left behind. That is what we are trying to sell them on. I'm hiring a sales agent in the next few days (interviews complete, so just waiting for a few responses to questions) and then I'll at least have a professional on the same page as me helping promote this type of service to businesses.
 
Great suggestions and comments! I probably should have mentioned that I almost exclusively do video for the web. I posted a similar topic over at LinkedIn and someone suggested the following regarding how to prove ROI:

"...use the analytics available to track the new hits on your website, follow the call to action statistics and you will have your ROI. Each company is different and the results do take time, the real action comes from the SEO - that gets people to your website that were not visiting before. "
 
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