Aligning Dollars With Sense: Building a Case For Video Production Budgets

In the ever-evolving landscape of digital marketing and employer branding, video content has become a non-negotiable asset for brands looking to engage their audience effectively. However, from our years spent partnering with CMOs, HR Directors, Creative Directors, and Agency Owners, we know the challenge often lies in convincing financial decision-makers to allocate a budget that does justice to the production quality.

With budgeting season upon us, crafting a persuasive case for your video production budget is crucial in ensuring your vision comes to life. With that in mind, we wanted to share some of the nuggets we’ve learned from our clients along the way in hopes that it helps you approach budget discussions going into the new year.

TIp 1: Understand who the decision makers are

Before presenting anything, it’s essential to understand the priorities and concerns of your audience. In this case, your audience is the financial decision-makers who may or may not understand the value of high-quality video production. Tailor your pitch to address their specific interests, whether it's ROI, brand visibility, or audience engagement. Oftentimes, creative folks speak a different “language” than financial folks, so knowing your audience will help you frame your budgetary needs in a language that resonates with them. I’m guessing most CFOs don’t think about employer branding content in the shower like you (and we) do.

Tip 2: Align with business objectives

Demonstrate how video content aligns with the overall business objectives. Whether it's boosting brand awareness, driving conversions, or enhancing customer loyalty, make a clear connection between the proposed video content and the achievement of these goals. This alignment will help decision-makers see the tangible value your video production brings to the organization.

Tip 3: Showcase past successes

If possible, highlight the success stories of previous video campaigns (or the downside of low-quality videos.) Share metrics like increased website traffic or improved social media engagement, to illustrate the direct impact of video content on key performance indicators. Any tangible results you have will instill confidence in decision-makers regarding the potential return on investment.

And while KPIs are wonderful, we also know it can be difficult to prove tangible ROI for certain types of videos, including employer brand or recruitment marketing videos. Those are often more about a general “feel” rather than leading to a sale, so look for creative ways to assess their impact as well. For instance, was there any increase in employee referrals or application rates, or any gradual improvement in employee retention rates?

Tip 4: Educate on industry trends

Stay informed about current trends in video marketing. Presenting relevant data can help decision-makers understand the competitive landscape and the importance of staying ahead of the curve with commercial brand storytelling or employer brand stories. Illustrate how investing in high-quality video content is not just a trend but a strategic necessity for maintaining market relevance. Here are some examples:

• According to HubSpot, adding a video to marketing emails can boost click-through rates by 200-300%

• Social media platforms heavily favor video content, and posts with videos tend to get higher visibility and engagement. According to LinkedIn, videos are shared 20 times more than other types of content on its platform, and that companies with strong employer brands receive 50% more qualified applicants.

• Videos allow for storytelling, creating an emotional connection with the audience. This emotional resonance can influence both customers and potential employees. Research from Gallup shows that employees who feel a strong emotional connection to their company are more likely to stay.

Tip 5: Emphasize long-term benefits

Position video content as a long-term investment rather than a one-time expense. Emphasize the evergreen nature of video content and its potential for continued engagement over time. Show how a well-produced video can be repurposed across various channels, maximizing its impact and cost-effectiveness in the long run. And by the way, we know discussions about long-term, gradual value are difficult when your audience is solely responsible for the financials and thus, the ROI. We’re rooting for you!

So, while you may wonder what the heck us creators know about the financials, we do know that effectively communicating the value of video production to financial decision-makers requires a strategic and well-prepared approach. By aligning with business objectives, showcasing successes, staying informed about industry trends, and emphasizing long-term benefits, you’ll hopefully be able to build a compelling case that resonates with those in charge of your company’s budget.