Over 80% of all internet traffic is going to be video by 2019, according to Cisco. If you spend any amount of time online, you probably have seen that this trend is already well underway. Video will be used for marketing, entertainment and even training, and video will drive purchases more than ever in the near future. These are video trends that are quickly taking over the world of the internet. There is a digital marketing revolution going on, and if you don't get on board soon, you'll be left behind.
Many companies see that video is essential to their marketing strategy, but they are struggling with how to catch up with this massive trend. Video production can be confusing, and there is a lot that goes into it. For many companies without video experience, it can be overwhelming.
So, just how do you stake a claim in the video wave this year? We asked this exact question to Nate Watkin, CEO of Assemble in Los Angeles. Assemble is a tech platform that streamlines and automates video content producing and connects companies to an invite-only talent network of directors and other creatives. Nate weighs in on how outsourcing video content creation can prepare your company for the future of digital marketing and video production.
Better Access to Top Talent
Technology is a great thing, and it has allowed our world to connect and grow like never before. But technology has also allowed the market to become oversaturated in almost every aspect, and video production is no exception. Because there are so many different freelancers available online, sorting through the chaos and finding top talent can be difficult on your own. If you don't know enough about video production, you may end up hiring someone who also doesn't know enough or have the best equipment to uplevel your business the way you have envisioned. Top talent is essential for your company. If you are going to outsource your video production, make sure you do your homework and spend the time to screen candidates and ensure they really know their craft. Finding top talent at a price your company can afford may be a challenge, which is why outsourcing to a company who already has a team of top talent may be a better solution.
Stay Up with the Ever-Changing Trends
Just like everything on the internet, the world of digital marketing changes rapidly, and you need to stay on top of the latest trends in order to be successful. What worked yesterday may no longer get the results today. If you get left behind, it can be difficult to come back. Outsourcing to a vetted company takes the pressure off because they are always on the cutting edge of technology, video trends, equipment and techniques.
Properly Manage your Time and Resources
Video production can take up a lot of time and resources very quickly, especially to those companies that are just getting their feet wet. Because there is so much involved and the learning curve is steep, many companies choose to outsource a lot (or all) of it. While that may seem like an effective and time saving strategy, working with one-off freelancers can be time consuming as well. You have to find talented freelancers on your own or work with a freelancing agency, interview and vet potential candidates and then continuously manage them to ensure you receive the quality of work you desire.
We all know that time is money. It doesn't make good business sense to waste time when a better solution exists. Make sure that you weigh all of your options when it comes to creating video content. At first it may seem like you'll save time learning and producing your own digital marketing campaign, but take a look at what is involved and how much time and energy you would need to spend. Evaluate if you have the time and ability to find and manage a freelancer. If you are already stretched thin on time, you may want to consider hiring a team who can act as a partner and manage your project from start to finish.
There are a lot of inefficiencies in most digital marketing content campaigns, and inefficiencies mean wasted time and money. If you are looking to scale your content and take advantage of this new trend online without losing money, it most likely means you need to find ways to produce that content more efficiently. Oftentimes, this means outsourcing your content creation to a team who has the experience to produce quality content efficiently.
"Most companies end up spending a lot of money on video production, and the worst part about it is that a large portion of the money isn't even going to creative execution." Instead, that money is going to administrative items, markups and overhead expenses. As a business owner, you know that your dollars must be spent in an effective way in order to see the most return on investment. So if you are going to invest your money in video production (and keep up with this massive video trend), look for ways to invest smart. Make sure your dollars go to what is most important - the creative talent and execution.
Scale Quickly and Smartly
Some of the most successful companies out there have turned themselves into full scale media companies. Building the type of infrastructure to support that is an incredibly difficult task, and it may not be necessary (or even possible) for every company out there.
"There are companies out there like Lego that put out multiple videos per day because they have the infrastructure to do that, but not every company needs that."
Putting together the infrastructure to support an in-house video production team can be expensive for most companies (purchasing equipment, training and systems required etc). Nate suggests evaluating the video marketing needs of your unique company. Your content needs will be different than other companies, and likely there is no need for you to become a full scale media production facility. And while those big companies can afford it and it definitely helps them scale and grow quickly, it may not be the best option for you.
But that doesn't mean that you cannot scale quickly just like the big players. You just have to be smart about where you invest your money. Sometimes hiring someone that already has the infrastructure and talent network is a better investment than building it into your company. This will also allow you to adapt and react based on your specific needs and budget without carrying any in-house overhead or time commitments.
"Video marketing is devouring everything, and you need to be staking your claim now" says Nate.
The video revolution is happening whether you get on board or not. By 2019, your company could be left in the dust if you don't adapt and start producing video content. It doesn't have to be overwhelming or confusing. There are businesses out there, like Assemble, who can lift the headache and lower the cost while keeping your business at the forefront of all the media trends.