Video marketing is a growing trend that took time to set in the pharmaceutical industry. Despite now being adopted by most as a valuable digital communication tool, for others, it is still a daunting idea to consider.
The digital shift is a reality. And pharma marketers ought to take it into consideration if they intend to continue to adapt and innovate.
With this in mind, demystifying video marketing is necessary to help motivate pharma marketers to take the right step into a digital future where the consumer is at the center of all action.
The myths behind video marketing
1 – Too Expensive
The cost of video production will always depend on the type of content you wish to create. If it is more elaborate, then the price will be higher, whereas if it follows a simpler template, you can adopt more cost-effective options.
There are different ways in which you can do video marketing. The first is outsourcing talent to create the digital content for you following your guidelines. This will depend on your requirements and the time spent on the project. The cost in the U.S. might range between $1,200 and $50,000 if you go for an elaborate project. On the other hand, you have in-house opportunities. These tend to decrease the cost of production to around $5,000.
However, the cost can be relative. As your priority must lie on your content and not solely on production. It is all about using powerful imagery that can be imprinted in the viewers’ minds, fostering in it a desire to connect with your brand. That can be cheaper than you think.
People want to connect with truthfulness and emotion before mere aesthetics. And that is a reality of contemporary society and mostly younger generations.
Fact: 90% of millennials name authenticity as one of the most crucial traits in a brand.
The key is to source your material wisely. From there, you should exploit its maximum potential to create a video that is engaging, interactive, and cost-effective.
2- Time consuming and complex
Creation, post-production, editing, and coloring. These are all part of the process of producing a video. For sure, these sound daunting and tedious operations. But it does not necessarily need to be that way.
Complex video production can take up to a month or more to complete. But with the advancement of technology and the adoption of simple narratives, one can push this prospect down. Because what is most important is the message and content you put into it, not its high-end production finishes (even though the latter might add additional value).
For example, if you are running a video campaign on testimonials, you can simplify the process by recording it on your smartphone. Nowadays, these come equipped with good-quality cameras and editing software that will make your process a lot easier.
If animated explainer videos are what you are going for. Then the process might be significantly more complex to do alone. But there are solutions out there. And we can be a part of it.
At RedNovius we help our clients create their videos, PubVisuals (for physicians), and PatientVisuals (for the end-user) through a simplified process of support. We hear your ideas and intentions, and turn them into a visible product. It’s simple. It is easy. And you can book your free demo now to start your way into video marketing.
There are different options out there. And now with technology on our side, it has all become a lot easier. So, time and complexity should no longer be a great concern. Video marketing’s value overcomes it easily.
3 – Going viral is the way
When one thinks of video, one often falls into the rabbit hole of quantity over quality. But that is one of the myths of video marketing. Going viral does not always mean success.
Laying out an effective marketing plan, is, most of all, knowing who to target at the right place and time. Your product is oftentimes directed at a specific segment of the population. And it is that segment that you want to communicate with. If you desire your video to go viral, then the message will most likely get lost in the crowd.
To an extent, the number of views a video has is not the most effective way to measure success. Instead, you have to define who you want to watch your video and what message you want it to retain. After that, it is all about if those people were compelled to watch your content and if it helped them move further down the sales funnel.
4 – All about SEO
Videos are a growing trend in the pharmaceutical industry and a ubiquitous content format that is all over the Internet. So, SEO (search engine optimization) is no longer all there is to video marketing.
In the pharmaceutical marketing landscape, you might find most of your competitors using video in their strategies. Posting one video on your website will not do the trick. It will inherently help SEO, but not that much.
So, what is there to do? You have to research what is being done in the market as well as understand your target audience and what it is looking for. From there, marketers must think of ways to create effective videos that will successfully share the intended message while educating and selling the product.
Read here to learn more about how to create your first explainer video!
5 – Not versatile
When considering video, you might think it’s not versatile. It is always the same and hardly applicable to other circumstances. However, that is a misconception.
Video is in truth a highly repurposable content tool that you can, for instance, include in your:
- Emails (read here more about email and video marketing);
Most of all it can act as an aiding tool to effectively establish a link of communication with your target audience. Whether it is an HCP looking to know more about a drug’s MOA and contraindications or a patient intending to get more information about your drug’s value in its treatment journey.
So, despite the different channels through which you can integrate your videos. There are also different types of formats you might want to adopt:
- Video ads…
Did you know that…the type of video most created are explainers? In 2021 74% of videos produced were for this purpose.
The opportunities are endless. And you can use video the way it best fits your needs and goals.
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