What awaits the creators of video content when their businesses are in panic, advertising budgets are cut, and consumers are sitting at home?
The businesses are in a difficult position and so does the video production industry. It is unclear how long this will last and what will happen next. In an environment of uncertainty, businesses instinctively cut their marketing budgets, but this is not an option.
On the other hand, this is a unique case in the world’s history. Billions of people around the world are forced to stay home and are stuck on the Internet from morning to night, mainly on social networks. Video bloggers are already increasing the volume of their content, but what about businesses? How can you not create video content in such conditions?
Let’s try to shake off the General panic and soberly analyze how we live on.
It has become more difficult to shoot videos, as projects are frozen for an indefinite period
Globally, video production can be divided into two areas: live shooting and animation. The coronavirus has made the live shooting very difficult. Video studios and creative spaces are being closed.
The staff is driven to a remote location, but sitting at home without professional equipment, you can only shoot stories for Instagram.
In addition, video live shooting usually involves large crowds of people, which again is not welcome.
Large serious projects related to video shooting are postponed or canceled. There is no one to shoot with and nowhere to go, and it is generally risky.
The emphasis has already shifted and will shift even more towards graphics and animation. Animated videos are made remotely, and 3D visualization capabilities often exceed those of a camera operator.
Event industry in the knockout stage. Video production also caught on with the rebound
One of the main suppliers of big checks for video productions has always been business forums, exhibitions, industry conferences and similar large events. All of them are canceled or moved online. Now what?
We didn’t get a few good seven-figure checks in March. But the need for video presentations in business has not gone away. You used to have 200 people in the audience, now you have 2000 in front of the screen. The task remains the same — in a couple of minutes, to clearly explain to the audience what you can offer them.
Some clients have already changed their request from exhibition videos to video presentations for sites and ads. The relevance of 3D online tours for the production and visualization of objects is growing.
Video producers, event managers, marketers, you can wait and meditate until the quarantine is lifted, but it’s better to fly into our partner program and earn money online.
The whole business is frozen in uncertainty and waiting for what will happen next
We are convinced that cutting marketing budgets is strategically and even tactically wrong. We don’t do this ourselves, and we don’t recommend it to anyone. If you follow the crowd blindly, you will come to the same result as the crowd.
To save on attracting customers means to doom yourself to a guaranteed death. Is there much joy in the fact that it will be longer and more painful?
Some will rise strongly on this crisis and they urgently need a video
It is already obvious that while the conditional tourism, event industry and restaurant businesses are in a coma, the time has come for online companies.
Over the past weeks, the market for video games, online education, and resources related to remote job search has shown explosive growth. Again, we moved to online business forums.
Even if a person is just lying on the couch with a smartphone, most likely they are stuck on social networks, where they watch videos.
Two years ago, analysts predicted that by 2020, 90% of all Internet traffic will be from video. At the time, they clearly didn’t expect a worldwide quarantine.
Right now, video is the tool with the highest ROI in human history. If we look at the experience of previous global crises, companies that have increased their marketing activity in spite of market conditions have won.
Another issue is that the tone of advertising and approach must change. Shouting aggressive “selling videos” will finally become a thing of the past. The businesses will switch to new formats.
Video ads with large reach and “here and now ” results come to the fore.