As video production costs come down and engagement rates go up, there’s really no reason for any company to not invest in quality videos to market their business.
A recent survey of B2B marketers sponsored by Vidyard and conducted by Demand Metric found that a large majority of them were using video, and generating plenty of returns from it. This is especially true for software and tech companies who can use a well produced, clear and concise video to simultaneously explain how their product works and the benefit it delivers. However, despite the increased adoption of video marketing, not all marketers are getting the most out of the content.
The survey highlighted some interesting facts about the use and impact of B2B video marketing:
– Despite the lowered costs, smaller companies make less videos: 36% of large companies (over 500 million in annual revenue) are producing more than 100 marketing videos annually, compared to just 4% for small companies (less than $25 million annual revenue) and just 5% for medium companies ($26 -$500 million) that are producing videos at this same pace.
– Video converts customers better than other content: Most marketers (68%) agreed that video was better than other forms of content when it comes to getting customers to convert. That confidence decreased slightly when it came to ROI, with only 48% saying that returns through video were getting better. 25% said it was mostly the same, while 26% said they had no idea if it was working, which is a telling stat.
– Metrics are getting more advanced: Even though they’re making more videos, most companies (48%) are using basic metrics such as views or shares. However a significant portion (38%) were using more advanced metrics to track the effectiveness of video, such as average viewing duration, embed locations, viewer drop off rates and heat maps.
Check out the rest of the survey results and more insights at Vidyard (registration required).