- Slides: 25
STUDIO Trang Nguyen Rodrigo de la Garza Johanna Tolttila
Agenda 1. Company Background 2. Research problem 3. Methodology 4. Analysis & Results 5. Recommendations 6. References
STUDIO (History) • • • Company started to invest in equipment. Video Marketing Startup (Founded in 2017). • Started producing high-quality videos. Started operating with “Folks” (IT parent • Working with big companies and events such as Kesko, company) in summer 2017 with previous clients. Junction and others. In total they have done 43 projects with Started as a extra service. 17 different clients. In 2018 the team expanded. • Most of the contracts coming from clients referrals as they are very happy with STUDIO works. • Video projects brings extra revenue stream to the company and becomes a real opportunity to be a company on it own.
Catalog of projects, they´ve been working with: ● Introduction video ● Partner video ● Recruiting video ● Social media marketing video ● Video editing ● Service launch video ● After movie ● Product demonstration video ● Event marketing video ● Information video ● Shooting video ● Trailers
Description of the problem • STUDIO has been working with different clients, segmentation in different projects but mostly adhoc campaigns or any type of requests coming from their clients without having an area of expertise. • All of the works has registered under the IT company name (Folks), without having their own brand strong connections between these two different consultant services. • The company has done no market research so they have limited information about the market situation. • Instead of waiting for clients requests, they need to be able to do active selling for new clients and they need to know what is their unique selling point that they can bring to clients.
Research problem: Main objective • Establishing the brand position: The objective of this, is to know what is their niche market and what can they offer the potential clients in this market area. • Establishing the Unique Selling Point (USP): This will be crucial for the company. Due to the importance of understanding what their potential customers are looking inside their marketing strategy and how they can reach them.
Theoretical Background Customer value diagnostic Global solution integrator Service provider company use a strong understanding of the latest industry trends to identify the customers' latent needs and deliver the demonstrable value Provide services at a global scale and as a global integrator of technologies and services. Instead of focusing on the own strength of the company, they will position as one-stop services for potential clients. Brand Position Quality sub-systems provider Aability to deliver high-quality sub-systems and components for their potential customers Long-term service partner Focuses on supplier's service excellence, partnership orientation, and commitment to its customers.
Methodology Qualitative research Face to face Interview owner: Long and detailed interview to know the company, projects, challenges and goals after launching the company (Mid term). Interview potential clients About video marketing and event video marketing in order to understand the potential clients value point of view. In total 6 interviews were conducted, two of them are SME companies and other four are big companies Desktop research: Video market in general and potential competitors of out newly launched company
Interview: 1. 2. 3. 4. What do you think about video marketing? What is the role of video marketing in your marketing plan? What would be the estimated budget for video making? What is the expectation/requirement for a video production company? By on which criteria you are choosing them? 5. Have you made any video out of your physical promotion activities, for example at a conference, seminar, summit, sponsor event that your company participates? Is this done by your internal team or outsource? 6. What do you think about using this type of video as a marketing material? Or have you it ever using video filmed at these events as marketing material?
ANALYSIS & RESULTS
Analysis and results: Competitor analysis ● At least 19 companies all claim to have “storytelling” as their competitive advantage or selling point. ● From full-service international company which offering video, animated, banners to company who only focused on professional branding video production. ● The price also ranging from cost efficiency to very high cost one but usually company operating in video storytelling will not come with cheap cost. STUDIO will not be able to stand out and compete with the others if they will also offer the same quality “storytelling” as their competitors do
Analysis and results: Competitor analysis
Interview analysis – video role in marketing plan ● Every interviewee agreed that video is very important tool in their marketing strategy ● Companies/consumers, using more video across traditional and digital platforms and the budget for video is increasing year after year. ● Highly appreciated if the video is done properly so that the video ads and other marketing material should be consistent. ● Smaller companies using video for marketing activities while the larger ones use them in internal communication too.
Interview analysis – budget for video production ● Smaller companies focused on tactical video which costs from few thousands up to max 10000 euro in which they can run in the website and all marketing channel. ● Big companies have done live action videos in which combine the brand story with actors and bringing engaging contents to users. Budget normally stay around 40, 000 to 70, 000 euro. ● Live action video is usually done by advertising agency + media agency on planning + execution, but, often shorter clips cutting from the traditional advertising videos do not often work very well in social media environments. ● Big companies do work with different team that produced shorter videos specifically social media channels (small 10 -30 sec videos).
Interview analysis – Choosing criteria ● Remarkable history behind videos: Quality, professional equipment, innovativeness, modern. ● Suitable price would obviously factor as well. ● The previous experiences with similar clients and similar services promoted would be highly recommended since they have known what worked best and what not. ● The ideas that being pitched should reflect the thorough research on the client’s service and understanding of company’s brand value. ● Pitching the contents to client and giving out a clear timeline for production would be very important. ● We chose advertising agencies that could provide us with the whole pallet of ad materials – from story design and market insights to producing it.
Interview analysis – using event marketing video ● Most of the companies did have a video for their events ● ½ Of the companies had not used it or thought about this type of marketing material for any purpose and the others only used it for the internal communication purposes ● The main struggle here is not only making video but where to distribute them. ● All of companies have a wish for video production not only making great story but also how to effective distribute these videos to their customers at the right channel and right time in a right format.
Recommendations ● Still have the storytelling ability: to maintain customers appreciating full-services. ● Aggregate value to their service: Where to distribute them, how to distribute them, which channel? ● Cost-Efficiency: Crucial selling point for smaller or SME who appreciated a decent quality ( not an Oscar winner) with a competitive pricing. ● Event Marketing: Instead of spending all the budget in one video: Focus on different videos, different channels with potential viewers.
References ● ● ● ● https: //www-emeraldinsight-com. libproxy. aalto. fi/doi/full/10. 1108/JBIM-10 -2011 -0138#_i 8 Anne Maarit Jalkala, Joona Keränen, (2014) "Brand positioning strategies for industrial firms providing customer solutions", Journal of Business & Industrial Marketing, Vol. 29 Issue: 3, pp. 253264, Rod Mc. Coll, Yann Truong, Antonella La Rocca, Service guarantees as a base for positioning in B 2 B, Industrial Marketing Management, 2018, https: //www-sciencedirectcom. libproxy. aalto. fi/science/article/pii/S 0019850118302980? via%3 Dihub#bb 0175 Carl Long, Mary Vickers-Koch, Using core capabilities to create competitive advantage, Organizational Dynamics, Volume 24, Issue 1, 1995, Pages 7 -22, ISSN 0090 -2616, https: //www-sciencedirect-com. libproxy. aalto. fi/science/article/pii/0090261695900322? via%3 Dihub