4 Video Marketing Challenges for Entrepreneurs
Video has emerged as one of the most important parts of any team’s marketing strategy. Studies show video has the highest returns on investment on any marketing media format. However, marketers still face challenges when getting their video marketing strategy off the ground. We have looked at several surveys, studies, and reports and compiled a list of some of the most common challenges entrepreneurs face when implementing a video marketing strategy.
Video marketing is a very involved process; the video must be created, storyboarded, shot, produced, posted, and then promoted. Each stage costs money, and some entrepreneurs do not have a large enough budget to handle it all.
Things get worse when you consider that, as more businesses focus more on video marketing, the resources required to keep things going will increase.
Entrepreneurs must think of a way to budget for video production. They then have to think about how to divide up this budget to fit every step of this process. The good news here is that the budget for the promotion of the videos can be included in the overall marketing budget to make things easier.
Lack of Content Ideas
Creating content is easy, creating content that is compelling and that converts is something entirely different. This distinction makes finding or coming up with good ideas crucial. Additionally, as the number of videos posted keeps increasing, the number of good ideas left will keep dwindling.
Marketers who have a hard time finding good ideas can lean into those that have already proven to have a good ROI. For example, product showcase videos, brand value showcases, trendy content, and relatable content can all produce great results.
Barring this, entrepreneurs can also look at other content and ads created and posted by their competition to see what works for them so they can borrow inspiration from that.
If you do this, be careful not to copy another brand. Instead, ensure the content ends up aligning perfectly with your brand and messaging.
Too Much Data
Data is an important part of any marketing strategy. However, if you are collecting too much of the wrong type of data, it becomes a problem. It is harder to see what is working and what is not, and to find out where to focus your attention.
Fortunately, most platforms now allow you to choose which types of data you would like to receive, so you are not overwhelmed by it all. Some even tell you where there are data-collection gaps in your strategy so you can rectify this.
Challenges With Video Creation
Another common challenge for entrepreneurs is the video creation process. The video creation part of video marketing includes producing, shooting, and editing the final video. To overcome this, entrepreneurs need to invest in video editors either in-house or freelance, and their own equipment.
Over two-thirds of all entrepreneurs who did this say that the video creation process has become a lot easier for them and their teams.
While it has a very high return on investment, video marketing can be very challenging. When entrepreneurs find ways to overcome these hurdles, the results and rewards turn out to be greater than they expected.