Viral video is very powerful. Free distribution of your video content by satisfied viewers can expand your audience dramatically.
What kind of money do you need to spend to give an online video a good shot at going viral? Interestingly, it turns out, not too much, but not too little either.
Late last year, Marketing Sherpa surveyed over 1,000 marketers about how they are using online video for marketing, and discovered an interesting relationship between the marketers' budgets and the success of their online video campaigns: spending alot of money does not necessarily translate into success online. As per this chart the majority of successful online video campaigns -- 30% -- only cost between $1,000 to $10,000. 58% were made for less than $1,000, while only 12% cost between $10,000 and $100,000, and only 1% cost over $100,000. As MarketingSherpa observed "the majority of successful executions were made on low budgets by TV commercial standards, but large budgets by typical DIY [do-it-yourself] campaigns."
The lesson for lawyers considering online video as a marketing tool is that shooting for the moon may not pay off. On the other hand, there are folks who are investing in quality videos. So, at the very least, it makes sense to spend a bit to work with video professionals who know the ropes and can produce a quality video that will stand out from the legions of amateur videos appearing online.
In an earlier post, we offered pointers for producing a high-quality videos to display on your law firm's website. In the end, lawyers need to balance the costs of production against the value of an attractive finished product.
Comments