Starting a new business is not as tricky as managing it. Managing your business is essential to take it to extraordinary heights. But we need to apply the right marketing strategy to reach such a level. Initially, we used traditional marketing methods like pamphlets, word of mouth, newspapers, hoardings, and much more.
With the advancement of digital technology, new avenues like digital marketing have come into the picture. It has brought a shift in the marketing ways of the business houses. Unlike the traditional method, digital marketing has a greater return on investment and is more segment-oriented and targeted.
New marketing methods include channeling the power of social media, ads and campaigns, video marketing, etc. Tapping the power of video marketing is a real game-changer as they drive internet traffic which is more than 82%.
But how to formulate a strategy? Here is a plan for you.
1. Analyse the competition in the market
Competitive analysis is an integral part of every marketing strategy. Usually, we know about the competitors in our field, their product, marketing strategy, and the significant difference between your company and the other companies.
But what gives us an edge over our competitors is their marketing strategy. It is essential to know what marketing gimmick they are using and how it is helping them. You can check their websites, social media handles, and all the other platforms they are using to market their video. It will help you in identifying their strategy.
It would help if you looked for answers to the following questions:
- What is the niche of their video?
- Which are the channels or platforms they are using to market their video?
- What type of video are they creating like an educational, recommendation, etc.?
- What other methods of marketing are they using? Is it video marketing or any different tactic as well!
- What is the type of content covered in the video, and what message it is giving?
- Which is the target audience?
- How frequently are they pushing such videos?
You should conduct in-depth research to identify the possible strengths and weaknesses of their business, and then you should formulate a plan to offer something better than what they are offering.
2. Identify your goals
Once you analyze your competitor’s strategy, the next step is to identify the goals of your marketing strategy. What is the result expected after applying the marketing strategy?
Do you want to generate more leads? Are you looking to build a strong brand image? Do you want to make a strong authority? We can create as many videos as we want, but these videos must align with the goal’s priority. You need to create a video keeping in mind the buyer’s person.
You must be clear about your marketing goals. If your goal is to introduce a new audience and make a strong brand image, you need to make a video that creates awareness about your brand.
Suppose you already engage with an audience looking for immediate solutions such as recommendations, testimonials, and answers to their problem. In that case, you need us at the consideration stage, and you need to make according to it.
Similarly, if you are close to closing sales with your customers, you are at the decision stage, and you must pitch such a video to them. Keep on reading to know more about these stages.
3. The right video marketing strategy for you
Videos are of various types, and your video must align with your marketing strategy so that you can get the desired results. But some everyday things like the video quality, color combination, the quality of content, duration, etc., are some common factors and must be taken care of while formulating any video.
Here is a list of videos of various types of videos that you can use for your marketing strategy:
A. Sales Funnel Focused
This video focuses on the buyer’s persona and has the following three stages.
- Awareness stage: These videos focus on tapping potential clients and making them aware of the problem, and such videos help gain an audience.
- Consideration Stage: Such videos focus on identifying the problem and looking for possible solutions. At such a stage, buyers conduct in-depth research about the possible solution and compare which solution is better for them.
- Decision Stage: When a buyer is nearby to buy a product once he has narrowed all the possible options to one option, then such video help in closing the sales.
Each video should provide value to the customers and aim to create a solid brand image. Keeping in mind the different marketing stages, you can create a digital marketing strategy that will help you gain potential leads.
B. Customer Focussed Video
The marketing strategy does not end with the customer buying your product. Yes, it feels good when a customer buys your product, but the other journey also matters. It is the start of the trip.
It would help if you keep interacting with your customers and informing them about your new product and specific discount offer. You must survey your product. Such surveys help in identifying possible loopholes in your services and development.
You can push them an email giving them birthday wishes or maybe some DIY tips. Such videos help in creating customer-company relations.
There are many other video types, such as customer trust-focused, explanatory-focused, and tutorial-focused, which help you target a particular segment. You can formulate digital marketing videos following your needs.
4. Video Promotion
Once you have created the video and are satisfied with it, you must carry out a planned promotion of your video to derive sales from it. You can channel your video on popular social media platforms like YouTube, Facebook, Instagram, etc.
But the most suitable platform is YouTube as it is a video content base platform and offers more flexibility. You should target the audience over Instagram and Facebook as well.
You can also channel your content over LinkedIn. The video content is more trending than the written one. You can even take help from a digital marketing expert or hire a digital marketing agency that can plan and implement a perfect strategy according to your needs.
Author – Aarif Habeeb is the Technical Content writer at DigitalMarketingCrab. He is a technical writer and IoT writer of the year 2020 by HackerNoon. His expertise includes Technical writing, Technical SEO, e-commerce, lead generation, and localized site-to-store strategies.