Guide | Photography
At seventy7 we are constantly staying ahead of the curve for our readers and clients. When technology changes, when budgets shrink, or when creativity needs a boost, agencies need to be in the know. Right now more than ever, it’s imperative for businesses aiming to maximise their return on investment (ROI) to be up to date with industry changes - this is where we come in.
One stand out, revolutionary tool that has been transforming the industry is virtual production in photography. This cutting-edge technology offers a range of financial benefits that can significantly enhance campaign performance and drive profits.
Our experts in creative photography have created a broad range of exciting imagery using virtual production for our clients. This has allowed us to push the ideas of what’s possible to achieve within every kind of budget, for any kind of campaign.
What does it take? Let's delve into everything you need to know about incorporating virtual production into your marketing strategies and how it can lead to substantial ROI gains, cost savings, and overall campaign improvement.
1. Reducing Production Costs
Traditional photography and video shoots involve significant expenses, including location fees, equipment rentals, hiring models, and travel costs. However, with virtual production, many of these expenses are drastically reduced or eliminated altogether. By creating digital environments and utilising models, props, and backgrounds, businesses can bypass the need for physical sets, reducing production costs significantly.
According to a report by Harvard Business Review, companies that embraced virtual production experienced up to 30% reduction in production costs compared to traditional methods.
2. Accelerating Time to Market
Time is money, and in the fast-paced world of marketing, agility is paramount. Virtual production enables marketers to create high-quality visual content rapidly. By eliminating the need for elaborate set construction and post-production editing, campaigns can be conceptualised, produced, and launched in record time. This agility not only saves costs associated with prolonged production schedules but also allows businesses to capitalise on market trends and consumer demands swiftly.
A study by McKinsey & Company revealed that businesses leveraging virtual production reduced their time to market by an average of 40%, leading to increased revenue streams.
3. Enhancing Flexibility and Adaptability
In traditional photography, altering scenes or making last-minute changes can be cumbersome and expensive. Virtual production offers unparalleled flexibility and adaptability, allowing marketers to make real-time adjustments to visuals without the need for reshoots. Whether it's changing backgrounds, adjusting lighting conditions, or experimenting with different product placements, virtual production empowers businesses to refine their marketing collateral swiftly and efficiently.
According to Deloitte, companies utilising virtual production reported a 25% increase in campaign performance due to the ability to adapt visuals based on audience feedback and market dynamics.
4. Improving Visual Realism and Engagement
One of the most compelling aspects of virtual production is its ability to create hyper-realistic visuals that captivate audiences. By leveraging advanced rendering techniques and immersive technologies, marketers can deliver visually stunning content that resonates with consumers on a deeper level. This heightened realism not only enhances brand perception but also drives higher engagement levels across digital channels, leading to increased conversion rates and sales.
Research conducted by Nielsen found that advertisements featuring virtual production visuals experienced a 36% increase in engagement compared to traditional ads, resulting in a significant boost in ROI.
Incorporating virtual production into your marketing strategy isn't just about embracing the latest trend—it's about unlocking tangible financial benefits that can propel your business towards success. From reducing production costs and accelerating time to market to enhancing flexibility and improving engagement, the financial advantages of virtual production are undeniable.
As businesses continue to navigate an increasingly digital and competitive marketplace, investing in virtual production photography services is not just a strategic choice but a financial imperative.
Want in? Together let's harness the power of virtual production, transforming pixels into profits to up your ROI on this year’s photography shoots.
