How Brands are Investing in Video Marketing On a Budget [2022 Data]

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According to 2022 HubSpot Blog Research, 31% of video marketers surveyed say their biggest challenge is having an inadequate budget to create video content.

In this article, we’ll cover what it costs to run a video marketing campaign and what brands are investing in the most this year.

How much are marketers spending on video marketing?

This year, we wanted to learn more about how marketers approach video marketing, including the strategies they leverage, the returns they get, and the amount they invest.

We surveyed over 500+ global marketers and here’s what we discovered.

Firstly, the data suggests that video marketing is a top content format for brands – with 31% of marketers surveyed allocating 21 to 40% of their total marketing budget to video.

Another 30% allocate 41 to 60% of their total budget to video marketing.

Video is so important that 52% of marketers say their budget increased in 2022. However, the increase is more present in B2B brands.

Now, when it comes to quarterly budgets, here’s the breakdown:

Many brands have a conservative budget with 15% of respondents allocating only $1K and $10K.
11% of marketers surveyed budget $10K and 20K.
The most popular budget bracket is between $20K and $60K, followed by 26% of marketers surveyed.
On the higher end, 16% of marketers surveyed say they allocate $80K to 100K while 20% invest between $100K and $200K.
Only a small percentage of companies surveyed (10%) budget over $200K.

Now that you know how much marketers are investing in video marketing, let’s break down how they’re spending it.

What are video marketers spending their budget on?

When asked, “Which part of the video creation process is most expensive?” 65% of marketers surveyed answered production.

Production is the process of filming your content and setting up the equipment needed to capture the footage, such as lighting, audio, and props.

According to marketers surveyed, production takes up 24% of the average video marketer’s budget.

Pre-production (ideation, scripting, casting) and post-production (editing and exporting) are tied as the second-highest cost. Then it’s tied again between the cost of video production and distribution and on-camera talent.

On average, 91% of marketers surveyed say they spend under $50,000 to create a marketing video.

Most (53%) say they spend under $10,000 and 16% spend under $1,000. Only a small percentage of respondents say they spend over $100K.

Video Marketing Techniques to Use on a Budget

1. Weigh your options.

According to our video marketing data, 69% of video marketers surveyed own production equipment while 10 percent rent, and the remaining group does both.

There’s an argument to be made for both.

On one end, creating videos in-house …read more

Source:: HubSpot Blog