A lot of people get stuck when investing in video marketing as a strategy because they do not know how to budget for it. They feel like they cannot afford to invest in creating videos, editing them, and promoting them due to the costs involved.
Luckily, you have found this article! In this article, I will go over some very basic information about why having a YouTube channel is important, what kind of revenue you can earn from your channel, and then I will talk about the cost of running a successful YouTube channel.
I will also give you an estimated cost of starting a YouTube channel, which includes setting up your profile, buying YouTube ads, and producing your first video.
Make a marketing budget for the year
In addition to establishing a regular video production schedule, you will also need to have an annual spending limit for videos. This is an easy way to prevent your business from going bankrupt due to unexpected expenses.
Most online businesses spend money during the holidays, which are usually their most profitable season. By having a limited monthly or yearly budget, you will be sure to stay within that budget every month!
Some of the costs that can be covered by your video marketing budget include:
Production fees
Legal agreements
Marketing materials
Gifs and animations
Domain names and hosting
Running advertisements
Copyrighted material
These amounts should be slightly higher than what you would normally pay as part of running your business, so they do not cost extra. If you were filming a movie in our studio, these would include the rental fee of the equipment, the staff wage, and the TV license and copyright clearance.
The last one is very important, because without it, all of your videos could potentially be claimed illegal under copyright law.
Calculate costs based on the following categories
Running a YouTube channel is not free! There are several cost types that apply to most people running a video marketing campaign, including:
Video production costs
Marketing expenses
Growth hacking strategies
This article will discuss what each of these items includes, how much they can add to your budget, and some tips for saving money if you’re new to making videos or investing in content.
The first cost type we will talk about is video production costs. This includes filming the videos you create as well as other materials like logos and thumbnails. Most small business owners spend around $100-200 per video depending on the length of the film and level of decorations.
Some additional material may be buying online credits or using free resources to produce your videos, but overall this is quite affordable. And with the right planning, you can make many videos without spending too much money.
Creative development
Beyond having fun creating your videos, creative developing new strategies to use video marketing is another way to save money. Some of the things you can do include using free resources, or tools that are not expensive but may take some time to edit correctly!
Free YouTube editing software such as Adobe Edge Animate and Animatron allow you to create engaging videos with just about anyone who has access to a computer and an internet connection.
These apps are great because they are easy to use and have many features designed to help you make your videos look professional. Not only that, but you get two years of service for free!
There are also a wide variety of different styles and formats of videos available through the app which can aid in giving your company a unique brand identity.
Popular marketing strategies
Another powerful way to use video in advertising is to create videos that are focused around or include popular brands, products, or services. By incorporating your product or service into a movie of someone else’s making, you can draw attention to yourself and your brand.
This is called advertisement parature (a kind of storytelling ad) and it is very effective. People love stories, so this tactic works well for drawing in new customers.
By adding your own special touch to an already successful story, you can also increase audience loyalty and purchase behavior. This article will talk more about how to do this with cost-effective tools.
