To do more or to do good, that is the question. Today we aim to discuss the pros of doing more and doing good so you can shift your weight on the fence and jump into the preferred way you want to communicate with your clients.
This is by far the most critical element of your decision process; how often do you need to communicate with your clients. As the world starts shrinking with the aid of the Internet, people attention span also shrink too. Now, businesses need to look on a global scale of competition and not only on a geographical scale. Having said that, you need to understand how often people are looking for your products and services and adjust accordingly. For seasonal business like decorations, weddings, events, education and festive goodies, it is important to market at peak periods to ensure you capture as much of the market attention as possible. However, not communicating your presence often means you are in the same boat as everyone in your industry; all waiting for the curtain to fall. I would suggest looking to distance yourself from the pack but only do it because logic and numbers dictates it; ie. I can capture X more sales and X more audience if I do small scale work very often. If it is not profitable to do so, maybe reminding people you exists when they don’t need your product is a cry in vain; like a tree falling in the woods.
Price plays an important role in the allocation of assets and how to best maximise it. If you have a vendor that is able to accommodate your high volume content creation at a relatively better price than your singular purchase, maybe it is something you need to look into. I am not saying you should go into a price war, but if you have a partner that offers something that suits your high volume purchase, perhaps it is something you could consider. It could be a more efficient use of marketing dollar over a longer period like a year.
The problem in some competitive industry is that they lose sight of the value they offer or refuse to adopt new ways to add value to their customers. Cost can only be controlled so much (hey, you need to eat right, and money pays for it). Value is what needs to be look at much closely. Take for instance the idea of SEO and SEM. To some companies it is possible to look at it as a long term investment to ensure that they rank well and get found easily. However, for smaller cap businesses it might not be lucrative to do so. In that instance, it is then more important to curate quality content in-house to be distributed; ie. cost of production is lower in order to stay competitive. It is the same thing with video. If you can have a video that is iconic that only needs to be made once and can cause ripples for a year or so, by all me let loose the sails and go forth. But if you are in a competitive industry where everyone is screaming all the time, perhaps consider either a newer way to communicate or the need to communicate better.
It is not that you should not sell ice to eskimos, it is just that sometimes it makes it extremely difficult to compete in a space that is over saturated. Take for instance the interior design industry. Who does not want to design a million dollar home (or sometimes million dollar room) where you can express your creativity as freely as possible. Sometimes, the under value market is something you can explore. It is not so much about running out of options, but rather it is easier to be the top dog in a town than to cruise by in an over saturated space. Look into areas of your business where it is possible to invest early in order to scale bigger quickly.
With these tips to take into account, I hope that you are able to find out which side of the fence you need to be on for the video marketing crusade you are on. It is not that you are taking no action, it is about taking the right action.