Is High-End Video Important to Digital Marketing and Branding?
Yes and no. Branding is important in a lot of industries. Models with the nicest Restaurants with elaborate decor and atmosphere can charge more for their food. Clothing with rare and expensive fabrics is considered the height of luxury. Cars with the most additional specs represent the top of the line in their class. Video marketing and production are no different.
Instances like these illustrate how branding and image are important to business. The more polished, professional, successful, and wealthy you look, the more trustworthy you appear to the average viewer. That's just human nature. The thought process goes, "If they're able to afford things like this, they must be doing good work!"
Of course you can still be highly successful without going all-out, and that capability comes with time. Some people aren't attracted to the biggest, craziest ads, and those people might be your target audience. In some cases, a smaller, more story-driven, intimate video may be your best move.
It is important though, that your branding represents your company, your products or services, and your position in the market. There is a reason why your biggest competitors in your industry have high-end video productions and advertisements on TV and digital spaces. Most of them aren't just blowing money. It actually works!
However, knowing this, the absolute wrong thing to do is spend money you don't have in an attempt to look like something you are not. Something to keep in mind is whether you'd like just one high production value video with a reasonably high budget, or a series of videos with a smaller budgets for each one. The most important thing is storytelling and making sure that your audience better understands you, your product, or service.