The Minimum Viable Video (MVV) – a new concept
Much has been written about the Minimum Viable Product (MVP) and it’s adoption as the lynchpin to a lean startup approach to launching a new business or product line.
In this blog, I contend that this same approach should be applied to Video Marketing and suggest that businesses need to create what I call the Minimum Viable Video (MVV).
What is the essence of a MVV? Simply put – in an ever changing and on-line connected world it is easy – perhaps essential – to have a ‘conversation’ with potential customers and first adopters. A Minimum Viable Video (MVV) makes this possible using the power of visual imagery to create a first impression and connection.
The Lean Startup model, from which the MVP is derived, assumes that waiting for a completely polished and completed version before introduction to the general public is risky and expensive. Instead, creating a product with the minimum added-value and viability is a preferred, with the full expectation that the product will be refined or even completely modified based on customer feedback. This approach recognizes that good product and business value is an interactive and iterative process.
The Minimum Viable Video, MVV, embraces this same approach to video marketing.
It recognizes that a marketing video is part of an on-going conversation with the target audience. The product, service and market expectations are ever changing and therefore the story and visual message of the video can and should be refined based on customer feedback, production iterations and improvements. Using the MVP approach, a company will not strive for product or project completion rather will look for the earliest market entry point. The objective is not to blow away the competition or the marketplace with the latest and greatest. A Minimum Viable Video using the same approach to Video Marketing. It’s like creating the first chapter in an ongoing visual product and brand story telling.
While many may disagree with this approach because it focuses mostly on early adopters, who are not necessarily indicative of a market as a whole, the MVV reinforces the value in connecting with the marketplace as quickly as possible. The MVV approach assumes that the market is less interested in ‘perfection’ and more interested in real time solutions. In fact, companies that embrace video marketing earlier have a marked and major competitive advantage.
All too often companies are late in utilizing video to tell their story. Either because the product/service is not fully baked (it’s in MVP stage), is too expensive, no one really knows how to make a good one or simply there is no ‘video marketing’ champion in the organization.
That only underscores how misunderstood the value of video marketing is today’s online, tech savvy and socially connected economy. The fundamental role of a marketing video is to create a visual dialog. It is not to “sell” but to tell a relatable story.
As the world of marketing becomes dominated by visual imagery the imperative to incorporate video as a core marketing component becomes more acute. Hence the need for a MVV.
No longer should a company wait too long to use video. In fact, most MVPs should be launched in conjunction with an associated MVV.
So what exactly should a MVV look like? What are its core components ?And how should you use it? Needless to say that production styles and production values play a significant role in terms of cost. Notwithstanding, there are four core components to any Minimum Viable Video – MVV.
1) Create an Interesting Intro
Quite simply – if you can’t get someone’s attention in the first 5 – 10 seconds then chances are that the rest of the video won’t be viewed.
2) Create a core message
Tell the viewer why your product or service will have meaning for the target audience. Remember – the MVV is visual communication It’s not about selling. Don’t focus on features and benefits. Concentrate on why someone will or should care.
3) Create a strong Call to Action
Always drive your viewer to take an action using ‘action oriented’ verbs.
4) Provide contact information
This seems obvious, but is often overlooked. Make it easy for people to contact you.
Of course there are many more components of a comprehensive video marketing program. But I’m talking about the minimum in terms of creating a viable marketing video.
The style of the video can vary from animation to live action to screen capture. It is important to consider that this video by definition will have a short shelf life, usually 6 – 9 months since the product will most likely be modified. Also, you need to be mindful and gauge how the video actually performs (video analytics – more on that in an upcoming article). With this in hand, the MVV should be viewed as something that will or must be refined/modified or replaced on an ongoing basis.
So keep it short. 30 – 60 seconds is sufficient time to get a simple core message across. Be authentic and don’t over sell. Don’t stuff too much into it. Focus on what you can or your product can do for ‘them’.
The Minimum Viable Video – MVV need not have the highest production values. It needs to convey a message using the power of moving imagery. Whether it’s live action, animation, screen capture or even a video slide show. And it needs to be monitored for its effectiveness.