Primeau Productions, a video production company based in Greenville, South Carolina, closely tracks industry trends and statistics for its South Carolina and Georgia clients.
Why would we take the time to do this? Why would one of our clients in Athens, Georgia or Easley, South Carolina care what is happening in Atlanta, New York or Los Angeles?
Video is everywhere
The simple answers to those questions can be found in the facts that video and its place on the internet is “everywhere,” and that video trends, even in major cities one day, are easily seen in smaller markets the next day.
Primeau Productions is fortunate in that many market research studies have been tracking trends for many years, and we can see what is still effective and what isn’t. We will give several important trends with this post.
ROI – Is it worth it?
When market researchers asked 2015 video users if the cost of producing a video produced a good ROI or return on investment, about 76-percent responded that yes, it did. The ROI could be translated into many factors such as an increase in sales or traffic (we’ll get to that in a minute). By 2024, a whopping 90-percent said that there was a good ROI from video production. Businesses ranged from builders to healthcare practices, churches to attorneys.
One good indicator of ROI is web traffic, i.e., how businesses and nonprofits perceived or measured visitors to their website. In 2015, 55-percent of all polled said that video had increased traffic, by 2024, it had risen to 86-percent.
As part of the “is it worth it?” question is the matter of how the video is produced. Was it produced in-house by a video production department or was it outsourced to a production company? In 2015, 40-percent of businesses outsourced video production (25-percent in-house and 34-percent ‘mixed and matched’) by 2024 the numbers changed with 24-percent outsourcing, 38-percent producing in-house and 38-percent ‘mixing and matching.’
While simpler and easier video production tasks can be handled in-house, depending on the level of sophistication or the production quality, much of the video production work is still left to companies such as Primeau Productions. The “why” of it all is easy to understand. As the use of video has matured, customers expect higher quality and better production values from script to screen.
How video is used
To better understand the point, studies have shown that in 2015, almost 44-percent of corporate ‘explainer’ video was animated (explainer video, telling a product or service story). By 2024, the number had dropped to 24-percent. People tire of animation. They want a human factor. This is proven in statistics on the so-called live action video. In 2015, about 9.5-percent of video produced was live action, real people saying real things. By 2024, the statistic is 48-percent of video production being live action.
However, live action is much more than simply sticking a camera in someone’s face! Within a limited amount of time, a story or interview needs to be told. It requires scripting, excellent production value, good equipment and a even better quality control and editing.
If we look back, and then look forward, we come to understand that in video production, quality rules. Video can help shape a company. It can guide, project an image, re-state a mindset or vision. Let Primeau Productions be your South Carolina and Georgia video partner.