By Lisa Heay, Marketing Planning Manager at Heinz Marketing
Video in the B2B landscape has exploded, becoming a staple in today’s modern marketing toolkit. Yet as more companies invest in video, the gaps between execution and performance are widening.
While sales and marketing professionals may understand the value of video, what are they doing to actually act on it? And, for those who are investing more time, money, and resources in online video than ever before, are they generating the return on investment (ROI) required to sustain it?
How are today’s most successful companies using video to drive results?
To better understand how today’s B2B organizations use video to drive results, Heinz Marketing and Vidyard conducted a research study in July 2019.
The survey sample consisted of 218 B2B sales and marketing leaders, all managers and above. The respondents hold a variety of different sales and marketing responsibilities and their companies range in size from SMB organizations to large enterprises.
1. In our research, we uncovered five major insights.There is no question that video is important to today’s modern marketer. A whopping 94% of respondents ranked video as either somewhat or very valuable in their current sales and marketing strategies.
2. Video makes an impact at every stage in the sales funnel—creating awareness, increasing the impact of nurtures, and increasing the frequency of signed deals. Video is an easy way for buyers to digest complex content, which is why at least half of respondents are using explainer videos, demo videos, and product tutorials with great success in their video strategies.
3. Many marketing and sales teams continue to focus on early stage campaign metrics making it hard to prove the impact of video on marketing revenue. Going beyond metrics like social engagement, increase in site traffic, and longer times on site to expanding the use of video across the buyer’s journey and tracking engagement throughout will help sales and marketing teams better understand the impact of their videos and identify areas for improvement.
4. Accurate video analytics are paramount to a successful and scalable video strategy. But, despite that, more than 80% of respondents agreed revenue-driving key performance indicators (KPIs) like lead conversion, pipeline conversion, and number of opportunities created are the most challenging video metrics to track.
5. Video is here to stay! Two-thirds of sales and marketing leaders plan to increase their investment in video. Though there is still a lot to learn when it comes to video production and performance tracking, the inherent value it provides is clear to today’s sales and marketing professionals.
Where do we go from here?
While it’s great to see video adoption will continue to grow, it’s important B2B sales and marketing aren’t simply paying for video for video’s sake. To truly reap the rewards of a modern B2B video program, keep these considerations in mind.
- Video Plays a Role in Every Stage of the Buyer’s Journey. Major video users implement video across the entire sales funnel.
- It’s About Quality, Not Quantity. Focus on what you truly want your videos to be about, what you want them to say, and what you want the audience to take away from them.
- Prioritize the Scalability of Your Video Program. Video takes time resources, and budget.
- Data Drives Everything. Revenue performance metrics are the most challenging to track, but they are also the most important for company leadership.
- Be Human. The greatest attribute of videos is their ability to showcase the human side of your organization.
Video has grown to be a highly valuable tool in the B2B toolkit, becoming a necessity to engage today’s buyer and meet modern expectations.
Successful video programs are able to drive buyers from their first touchpoint with your organization down to the last. They are changing the way businesses connect and communicate in an increasingly digital world.
With a sophisticated program, B2B sales and marketing professionals can more effectively tell their stories, engage the senses, humanize how they communicate, and, most powerfully, personalize the customer experience.
If you’d like to learn more, download the full research report here.