If there’s one takeaway from The Reel Deal 1, it’s that brands simply can’t afford to do without video when it comes to maximising their online appeal.
While this may ring true for some brands and industries more than others, the power of video in marketing simply cannot be denied. It is precisely this appeal that has driven the success of TikTok, Instagram and other video sharing platforms.
Despite the undeniable relevance of video content for effective brand marketing, it isn’t always as easy to secure an adequate budget for video content production. Research from HubSpot says 31% of video marketers bewail the lack of funds for video content creation.
All the same, brands with budgets both big and small recognise the importance of spending on video marketing, which begs the question: should they be producing their own video content, or spend their budget on influencers to do it for them? After all, if there’s anybody who knows what works best on TikTok or Instagram, influencers surely would.
There are two ways for you to invest in producing your own marketing videos. One is to do your video production in-house, which HubSpot also says can cost less than having someone else do it for you. That means having members of your team take care of the planning, shooting, editing and posting—and everything in between.
Depending on the product or service you offer, you may need to invest a little more in talents or models, set design or special lighting. If you’re looking at investing in cameras, gimbals and other such equipment, consider how often you’re going to use them and whether your team can make optimal use of them in the long-term, beyond your current projects.
Speaking of team members, you’re going to have to think about whether yours have the bandwidth or requisite skills for producing good quality content on a regular basis. There’s just no underestimating the time and preparation that goes into producing a single video. You might end up redistributing task assignments across the board or even expanding your team.
This is precisely why many brands choose the second way to invest in their own video production, which is outsourcing it to an agency. Not only does this free up your own team to focus on other work, but it also saves you from having to invest in equipment.
Outsourcing to a full-service digital marketing agency also helps you to make sure that your video content is able to reach as many potential customers as possible. Such agencies have media planning specialists on their team who’ll know how to maximise your placements on Instagram or TikTok.
Again, there are two ways to engage Key Opinion Leaders (KOLs )to produce their video content for marketing your brand. You can either get in touch with a KOL directly, or work with an agency to find KOLs who are best suited to speaking on your brand’s behalf.
Bear in mind that finding a KOL to represent your brand also involves considerable research and expertise which, depending on your industry, your in-house team may not always have.
While all “Key Opinion Leaders” may be said to be “influencers”, not all influencers may be said to be KOLs. Depending, again, on the vertical you belong to, KOLs who are niche specialists in a particular field might be more beneficial for your brand. Agencies experienced in KOL collaboration are generally in a better position to advise you in your choice of whom to choose.
But whether or not you decide to go the agency route with KOLs, you’ll have to work with them closely to ensure you get the kind of content you need. This, again, involves a significant investment in terms of time as well as finances.
Done correctly, however, investing in KOL content creation does point to significant returns, not the least of which includes strengthening your brand authority and nurturing brand loyalty.
Leaving your content creation to influencers in general also saves you from having to invest in equipment and other in-house resources. This doesn’t necessarily mean you’ll spend less when you let them do the heavy lifting, however, as you will have to pay more for influencers with large followings.
The choice between investing more into video production or leaving it to influencers doesn’t have to be absolute. Brands can employ a mix of both content types to meet their business objectives while keeping their budget in mind.
This kind of mix requires particular care when it comes to strategy, which is integral to our services at Mediatropy. As a full service digital marketing agency, we work closely with brands to determine how they can benefit from utilising the right mix of their own content, and content produced by KOLs. Our track record includes KOL collaborations for brands such as Abercrombie & Fitch, and award-winning video content for brands such as Marriot and LaClique.
If you’d like to explore your options for making the most out of your budget for video marketing or for collaborating with influencers, we’re just a message away.
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