When you’re looking at how much you can spend on your video budget, you have to look at the return on investment. So, yes, it’s a buzz word, the ROI, but it really is true. Whether you’ve got a dollar product or a thousand dollar product, you need to figure out how many of those products a video needs to sell for you in order for it to pay for itself.
So, let’s say the video cost you $10,000. If you’re selling a thousand dollar product, then that video needs to be responsible for at least 10 of those sales. When you start looking at that, it’s a little bit more of a formula. It’s a little bit more of a number, and you can figure out how profitable that video and that investment can be for your company.
I always like to tell people that a video is one thing you can put on your website and it’s that salesperson that’s working for you 24/7. When somebody’s looking for your product at 1 a.m., the video’s going to pop up and tell them all the features and how it’s going to solve their problem and all of the wonderful things and potentially get a sale for you, and that’s more than you can ask out of pretty much anybody that can pick up the phone or do the email on a regular basis. So, having that 24/7 salesperson really does make a big difference on your business.
To talk about your next project, give me a call.