Part 3 of a helpful 6 part guide for any B2B marketer planning a profitable web video.
Today we’ll look at:
- Overcoming problems with using video launch buttons and banners
- The Money Maths – or what you’ll gain by getting it right
- Dealing with the web developer who implements your video
Problems implementing a video launch banner
Not everyone website owner wants a big video launch banner.
It’s too big a step to digest.
In fact many organisations compromise and only include a little launch button – often because it’s cheaper to do.
This is because a large well-designed banner will probably replace any existing rich media slide show (slider) or graphic.
And this replacement will cost money as the homepage template will need modifying.
This can be a short-sighted view when you consider:
It costs a lot of money to get people to visit your site – whether you use pay per click or seo or social media – it always costs.
For the sake of finding a hundred pounds or so of extra spend, the issue of modifying the homepage template is frequently ducked.
And a puny launch button is used as a compromise solution.
This is understandable as:
> many companies think it’s sufficient to plant the video near the top of the page.
> it’s complicated to make web page changes.
> they lack a fundamental confidence that the video is as good as they hope.
But rarely do you hear any reference made to bounce rate, and the cost of bounces.
The Money Maths – or the Hidden Cost of Bounces
Time to put your numbers hat on. We think it’ll pay you to do so.
Consider: If each click costs £2 – which is cheap – and the bounce rate is 20%, then every 1,000 visits loses £400 per month – or £4,800 pa in clicks that didn’t go on to explore the site.
But if the bounce rate was only 15% then every 1,000 visitors would only lose £300 pm – or £3,600 pa.
The logic is inescapable.
A small bounce rate improvement of 5% delivers savings of £1,200 per year on pay per click costs.
With 5,000 visitors a month, it’s quite possible to throw £6,000 down the drain every year – simply by not planning to improve the bounce rate by 5%.
And the reason for this waste?
Usually a failure to display the video properly – because it’s a small amount of extra work and cost.
Web Developers can also be part of the problem
Web developers can sometimes be reluctant to replace the slick slideshow they charged you for last time your site had a re-skin or makeover.
As a prominent web video production company we know that web developers frequently nudge their clients towards using a small launch button – something that can be squeezed into the top area of the homepage.
It only costs a few pounds in webdev fees.
This is not to say bad things about web developers.
They’re trying to help.
But many don’t properly understand web video – as a web video marketer might.
Many web developers tend to view web video as technical streaming issue – not a marketing issue.
Let’s be clear about this: Obviously this doesn’t apply to all web developers – but it does apply to some. Maybe your webdev?
Developers have good reason for following their own ideas on web video implementation.
> they’re trying to minimise your cost
> they don’t make the proper connections between a well-implemented web video and bounce rate – and view a template modification as a risky strategy, as it replaces the existing banner or slider, with its proven successful behaviour to-date.
> and there’s plain old inertia – why change anything if it appears to work.
If you’re in doubt yourself, you can ask your web developer to split test your homepage with:
> a small cheap-to-install launch button
> and a large banner requiring template modification.
Google analytics lets you split test for free.
All you need is your web developer to add
> a few Google-supplied lines of code
> an alternative web page design
> then set it up for you.
For a reasonable cost, you’ll have the benefit of knowing exactly what works and what doesn’t.
When the hidden cost of bounces is taken into consideration, all these options start to look cheaper and cheaper.
Even a low traffic B2B site can gain some benefit from split testing.
Google recommend nothing else.
Never forget: The aim is to move towards greater web video profitability, more leads – and not trying to save a few pence with false economies.
In Part 4 we’ll examine how the right storyline approach will maximise Contact Form completions.
We’ll also look at how to pick the right web video producer – and understand what makes false economies in this area.
Thank you for reading Part 3 of Planning a B2B web video production for profit.
You can view more information and video samples on marketing video production here