2024 Resolution: Increase Brand Equity With Early Planning and Buy-in on Videos

January 1, 2024 7:01 am Published by Eric Newland

January is the time of new beginnings, setting new goals, and making those new year’s resolutions. And while statistically, a quarter of those who make New Year’s resolutions break them within the first week, there is one resolution you should absolutely make and keep for yourself and your business: Do early planning and get buy-in on videos now to avoid headaches later. Headaches like a lack of consensus among the chain of command, running short on budget, and feeling like your video projects are more of a knee-jerk reaction instead of strategic moves that enhance your brand equity.

Trends For 2024

A HootSuite marketing trends report for 2024 recommends that businesses shouldn’t try to be all things to all people on all channels. The report recommends concentrating on owning one or two marketing channels. Two of the best channels this year will be social media and videos. The report also says that more and more businesses are (or should) be embracing AI and let it do the heavy lifting for social media. For those who have looked into AI, you already know this can be a sensible solution for your social media. The report predicts that AI usage will jump in texting from 66% to 85% usage in 2024. That will leave more time to focus on your videos; and while AI can certainly be a resource in this area too—for everything from training videos to providing voice-overs, which are, admittedly, a turn-off for many viewers—AI cannot replace the imagination and concepting today’s videos require to resonate with an audience on an emotional level. As we’ve written about in previous blogs, most business decisions are based upon emotional factors rather than pure rationale, and there is no better marketing channel to emotionally connect with customers than video.

Buy-In Is Essential

Before any of this emotional connection can happen however, there has to be buy-in at your company for the video projects you foresee in 2024, and the larger the company, sometimes the harder it is to get consensus and buy-in. So, we at Hybrid Moon asked some of our best client partners about how they moved their video projects along through their companies. We hope you’ll find their responses helpful.

Stuff Happens To Forecasts

One client reported that they receive a lump sum for their annual marketing budget, then they forecast and allocate the needs for that budget. This could include everything from marketing a presence at numerous trade shows, to paid media, to launching a new product. Although forecasts are certainly important, we all know that “stuff happens” throughout the course of the year and money frequently has to be moved around to address those needs. When this particular client suddenly discovered a need for a series of videos that weren’t in the original marketing budget, and that funds couldn’t be reallocated, they drafted a “business plan.” The plan explained the videos’ need, multiple uses, and expected benefits. Next, the Marketing Director approached the VP of Sales and presented this plan with a rationale of how it would boost sales. Once that buy-in was achieved, then marketing and sales went together to the company’s president and made the same presentation. Ultimately, new funding was given.

Set Funds Aside For The Unforeseen

The above sounds pretty sensible. But here’s another way to approach things: We know of a large manufacturer whose Director of Marketing expects these kinds of funding needs to arise throughout the year and therefore earmarks a percentage of budget for unforeseen use. If that money isn’t used, then the director looks brilliant because they achieved marketing goals under budget. If the need to use the funds arise, they likewise look brilliant because they planned for it.

A Dynamic Creative Brief

Still another client partner said that navigating the approval process should begin with a dynamic creative brief. It should address all of the significant pain points of “why” you need your proposed video, the benefits of producing it, and it should also include the differentiators that’ll make your video stand out from the competition. The client said: “Just ask the right questions from the very beginning. If you’re selling seashells, what is the story you want to tell? Can you tell me that story? Why do I need your seashells more than anybody else’s? What sets them apart? How will buying your seashells make my life better?” The client partner advised that listening and incorporating those answers into your script will make the selling process both internally and externally go much better.

Get Buy-In From The Right People

Yet another client partner wanted to emphasize the importance of having the right stakeholders on your side. If marketing and PR think a particular video is worthwhile but sales doesn’t agree—that’s a problem. Or, even if marketing, PR and sales are all aligned but the president or CEO isn’t on board—that’s another problem. Disconnection among stakeholders is essentially the kiss of death not only for videos, but any significant initiative. Buy-in across the board and agreement on THE APPROACH to the production is essential for its success.

Agree On The Approach

That last point is a bit of a sticky one. What do we mean: “Get agreement on the approach to the production?” The answer doesn’t have to be, nor should it be, laid out in a lot of specifics. But a general consensus of direction should certainly be agreed upon from the get go. Like, “We’re going to use animation.” Or, “We’re going to use actors instead of company employees.” Or, “We’re going to tell a story instead of just give a laundry list of benefits.” (Which, incidentally, far too many company videos do.) Or, “We’re going to infuse humor or another emotional element.”

Another thing to agree upon is the end goal for the video. Is it to attract customers? Investors? Launch a new product? Engage people so they’ll linger longer on your site? The end goal may seem obvious, but it’s surprising how many people will have different expectations about what their end goal is—and the more focused it is—the more effective it will be.

In 2024, people are going to expect more than ever from their videos. As much as pertinent information, entertainment value is going to be a huge expectation and yes, that’s true for all industries. So, make your resolution to get a prompt start on your video projects and work with experts who exclusively do visual storytelling. Content that creatively grabs attention and generates sales—that’s how to have a truly prosperous New Year.

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