1st May 2013

How Do You Justify the Cost of Video to Your Boss

Let me guess, you are the tech savvy, creative type, and an expert when it comes to understanding social media. You already know that in order to keep up with today’s fast-paced tech trends, an online video is an essential addition to your communications strategy.

So, now there are two options when proposing this to your higher-ups; you can either A. Request an increase in the budget to fund for an awesome explainer video or B. Reduce your moral standards and attempt to create a viral home video.

Let’s all hope that you picked A. Why? Because videos not only generate longer site engagement, but also higher SEO rankings. However, with outdated perceptions of costs, many businesses still don’t see the value of social media, let alone the importance of video engagement. Now, it is up to your expertise and social media knowledge to plead for video justice!

Here’s how to justify the costs of video to people who need it the most (your business).

Clarify Type of Video

It is important to understand your surrounding markets, such as competition, new tech startups, and anyone related to your industry. Examine your competitor’s videos and highlights of their products and take notes of the factors that you liked most. Also, determine the type of explanative video that will suit your business best, such as a promotional video, an introductory video or even a how-to tutorial (depending on your company and products).

Justify the cost

As you know, businesses determine most of their final decisions based on the costs. You need to do your research and ballpark what this budget is going to look like. Then remind your boss about how having an online video will bring substantial value and credibility to your organization (not to mention increase sales and brand engagement — maybe lead with that). Online video can increase the length of viewing time on the website, entice new user engagement, and increase Google optimization and rankings. Bottom line:More people learning about your brand = more money.

Explain the ROI

Make sure your boss knows the return on investment when it comes to explainer videos.  Maybe you spend the money upfront, but you can double (or more) the ROI times ten over the lifespan of the video.  This can really help you case once you explain the financial benefits of creating an explainer video.

Consult with Us

Now, I am certain that your boss is interested, so come consult with us and let us help complete the sale. Our talented staff and reassure any worries, calm your fears, and help you create an awesome explainer video.

 

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About the Author

Anish hails from London and holds a degree in software engineering from the University of Manchester. Following his education, he worked for several years in the financial industry as a platform administrator before founding Revolution Productions in 2008. In addition to over seven years of video production, Anish is seen as an industry professional, adding his insight in publications such as VentureBeat, ReelSEO and Wistia.

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