The value of a video varies based on its purpose. Why was it made? The answer to that question defines the measure of success.
As a society our most visible video content is entertainment-oriented – movies, shows, sporting events, even the commercials hoping to benefit from the available eyeballs. The primary goal of the video may be to make money, but the content itself is mostly designed to entertain.
Enterprise video ROI
The most valuable enterprise video may or may not be entertaining, but its purpose is usually to engage people – to change their view, teach them something new, or get them to take action.
One way to think about the value of business-focused video is to compare how much time and money was required to create and distribute it to how many people it truly engaged – kind of an ROI for enterprise video.
An example of valuable video: PayPal in 90 Seconds
We recently sponsored the Ragan Communications’ PR Daily Video Awards. There were hundreds of submissions in 22 categories. The winners took very different approaches to success, with a wide range of budgets and audiences.
The Grand Prize winner was PayPal’s PayPal in 90 Seconds program. PayPal’s Mark Kraynak has built a franchise within the company with his team’s weekly videos – basically an internal news show for the global organization. Production is efficient but compelling. And it’s been produced week in and week out for several years. Weekly engagement of a global workforce can really “move the needle” for a business!
An often overlooked value factor for enterprise video is length. PayPal’s 90 second goal for the length of their videos makes the content more accessible by busy employees. It’s not just what you say, it’s how concisely you can say it.
PayPal in 90 Seconds is one example of valuable enterprise video, but there are many recipes for success. Enterprises need to think about what they want from their videos. There are creative and efficient ways to deliver that value without a motion-picture budget.