Have you tried video marketing yet? If not, you may want to put your toe in the water, because a survey by Ascend2 reports video marketing is highly effective, especially for B2B companies.
The Video Marketing Strategy Survey polled several hundred marketers, about half of them in companies with under 50 employees, about how they use video marketing and the challenges they’re facing when implementing this type of marketing. Here’s what they found:
The most important goals of a video marketing strategy are:
- Increase brand awareness 47 percent
- Increase online engagement 45 percent
- Improve customer education 43 percent
- Increase leads 41 percent
- Increase conversion rates 34 percent
- Increase sales revenue 26 percent
- Improve lead nurturing 22 percent
- Increase website traffic 20 percent
Overall, companies are happy with their video marketing efforts: some 85 percent say their videos are very or somewhat successful, and a 87 percent say their videos’ effectiveness is on the rise.
Specifically, respondents say the most effective types of videos at achieving the goals above are:
- Customer testimonials 51 percent
- Explainer/tutorial videos 50 percent
- Demonstration videos 49 percent
- Though leader interviews 35 percent
- Case studies 26 percent
- Webinar videos 23 percent
- Event videos 13 percent
Even though customer testimonials are the most effective type of video, respondents say they’re also the hardest to create, followed closely by case studies. How can you get the most bang for your buck when creating videos?
- Outsource. Some 92 percent of companies outsource some or all of their video production. Just 8 percent do all of it themselves. Having a third party work with your customers on testimonial or case study videos can be a smart way of putting some distance between yourself and the customer, eliminating some of the stress of working with them on what can be a sensitive topic.
- Assess the cost/benefit ratio. Explainer/tutorial and demonstration videos are nearly twice as effective as they are difficult to create, making them “low-hanging fruit.” Customer testimonials are hard to create, but worth it since they’re highly effective. However, case studies, while among the hardest to create, aren’t that effective, and webinars and video blogs, while fairly easy to make, aren’t hugely effective. Try focusing where you can get the best results for the least effort (explainer/tutorials) and devoting some extra budget to testimonials.
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