Some brands tend to “over-invest” in the production of videos without considering the media spend or the return on it, warns Cathal Gillen, global senior content and connections manager at William Grant & Sons.
Speaking to The Drum in the third instalment of a four-part video series with Falcon.io, exploring social media strategies, he said: “When I used to work at advertising agencies and looked at how the budget was cut, I noticed a lot was used in production and creative and only a small percentage would be left for media. Videos only go viral occasionally and there has to be budget to amplify it to get the right reach for your video content.”
But the problem does not stop there, according to Gillen.
“We have to be really cautious towards the big channels. So much of the revenue and budgets are going into Facebook and Google,” he said. “It is important to be really mindful about the power they bear on us. Martin Sorrell calls them ‘frenemies’.”
While budgeting is a big issue, another is measuring the reach and impact of video advertising. If marketers do not know how to measure effectiveness properly, they are not only wasting time but also money. Gillen takes a cynical approach to metrics.
“When we look at impression numbers and reach numbers, we try to see how people have been impacted. You might have reached 10 million people but, how many people have viewed it? With Facebook, if you’ve been counted in as three seconds, is that good for you? Probably not. But if the view is something like 20 seconds out of 30 seconds in video then that’s potentially good.”
For more insights, watch the full interview above. Catch up on the last episode here to learn why brands should not rely too heavily on influencers.
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