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Although it pains me to say it – too often video marketing budgets are blown for seemingly understandable reasons. One thing leads to another, which leads to another… and before you know it, you’re sitting there bleakly asking, “how did it come to this?” At Phanta Media, our goal is to produce the highest quality, most effective videos possible. And to us, that means helping business people not only identify the pitfalls but also provide solutions to avoid them. So without further adieu, we present The 6 Stupidest Ways to Blow Your Video Marketing Budget (& how to prevent them).
Citation preview
phantamedia.com we know video.
Does the reason, “this is a bad idea” seem obvious to you? You’d be surprised how often this
happens. Moving forward without ensuring buy-in or approval from the appropriate parties
more often than not causes redundancies, scope creep, delayed timelines and blown
budgets. In some cases, videos are scraped mid-production. Milestones must be set,
approval processes must be clearly defined, and once an approval is given, changes should
be few and far between. Moving forward without buy-in is the fastest way to have a video go
south.
Stupidity Scale
6. Proceeding Without Buy-In
Build business cases. Evaluate your options carefully. Run concepts, ideas and options by
trusted advisors. Leverage key subject matter experts and stakeholders. Have a deep
understanding of your needs. Discuss all aspects of the project with the video producer.
Never… ever… just assume something. This goes for planning, production, post production
and delivery. Don’t assume the audience will care about what you have to say. Don’t assume
that the production company will complete a certain task. Don’t assume anything.
Stupidity Scale
5. Assumptions
This is Part Two to “No Clear Vision” – once you have a clearly defined set of needs, you
should stick to them. There is nothing wrong with evaluating progress and
course-correcting for strategic reasons; outside influences, new developments, scope
changes… but indecision, being unable to (or not having the authority to) make judgment
calls as these issues arise will cause your video to die a slow, agonizing death. The way
around this? Understanding that challenges will arise and decisions will have to be made.
Evaluate your options by building a business case for each available option and then
prproceed.
Stupidity Scale
4. Indecision
If you don’t know what you need or want in clearly defined terms – you’re going to have a hell
of a time having a video produced. The way to avoid this is pretty simple: have a clearly
defined set of needs.
Stupidity Scale
3. No Clear Vision
Close your eyes and think about your next video. What do you see? It’s probably something
absolutely amazing. The trouble with our imagination is that we picture outcomes in
polished, best-case scenario, highest possible quality terms. The reality is that budgets,
timelines and available resources affect a video’s look and feel more than any other factor.
How do you work around this? Spend time evaluating needs and budget, then position those
against expectations – they’ll either line up or they won’t. If they don’t – adjust your needs,
budget or expectations until they do.
Stupidity Scale
2. Unrealistic Expectations
You don’t know what you don’t know – that’s something we all understand. And for the most
part nothing can be done about your inexperience (unless you have the ability to run out
and do test videos) in the short term. So what can you do? Partner with a trusted,
experienced, process driven producer who will help guide you through the process.
Inexperience can be the death of your project if you let it. Or you can recognize your
inexperience right off the bat and stack the odds in your favor.
Stupidity Scale
1. Inexperience
(& how to prevent them)
The 6 Stupidest Ways to BlowYour Video Marketing Budget