The dramatic shift from traditional marketing to digital lead generation has forced the marketing minds of the world to re-focus their attention on tactics that will turn website window shoppers into sales. Video marketing has very quickly emerged as a powerful sales and marketing tool, in large part because it has proven to grab and hold the attention of everyone from the casual browser to the potential buyer. Quite simply, consumers can’t seem to get enough of online video and the demand for it continues to grow at record pace.
As B2B marketers, we can’t always jump on a popular B2C marketing scheme or trust that it will work the same kind of magic in every market. Not every company is going to have the same kind of success with seemingly “shoo-in” strategies like Twitter, a direct mail campaign or a half-time Superbowl ad. No matter how good it looks on paper, it is critically important to know your target audience and their buying behaviours.
Maybe you’ve already kyboshed the idea of video marketing because the investment is scary, or because it is yet another marketing tactic that can’t produce tangible ROI numbers. General “buzz’ isn’t enough; you need some substantial proof to sway your opinion. From a purely B2B perspective, here are four statistics that make a solid case for considering (or re-considering) video marketing:
1. According to Forbes, 59% of executives would rather watch video than read text
The key decision makers of the world say they’d rather watch a video on your site than read pages of copy. The same study reports that 75% of executives told Forbes they watch work-related videos at least once a week. As marketers, this is certainly an eye-opening revelation as we develop content strategies. It has also been said that if a picture says a thousand words, one minute of video is equal to about 1.8 million words – this according to Dr. James McQuivey of Forrester Research. If we do some quick math, you would have to write 3,600 typical web pages to achieve the same impact as one minute of video. That’s not to suggest content isn’t still king (just ask Google!), rather that content diversity might be the most effective way to attract and engage with your audience.
2. 90% of users say that seeing a video about a product is helpful in the decision making process
The snap reaction to this statistic is to stick a video on every page where people make decisions. But, this is one of those statistics we should take a more critical look at in the B2B world. This percentage comes from samples of major retailers across North America. The study shows that retailers who provide online video to show off their products sell a lot more than products without video. Most B2B companies do not have the same business model; however, this is still a very telling number. Remember, we are interested in buyer behaviour, whether your buyer is a CFO or a Walmart shopper – consumers show very similar buying patterns. If you have (or are considering) an ecommerce site, or display product pages and catalogues, you may want to consider a video component at point-of-sale.
3. 46% of users take some kind of action after viewing a video ad: Online Publishers Association
Video advertising is the “latest and greatest” marketing opportunity on the internet. Now, you can run video ads on Google, LinkedIn and most other digital properties. This is where an effective “call to action” really comes into play. Don’t let almost half of your video-viewers decide which action they should take – tell them exactly what to do! For example, if more than 45% of viewers are primed for action after seeing a video on your site, include a link to your contact form or relevant product pages, leave them with your phone number and a special offer, or invite them to join you on social media.
4. Click-through rates increase 2-3 times when marketers include video in an email
In a Forrester Marketing Group survey, marketers compared the average engagement metrics of email campaigns that included video content – and the results were pretty remarkable. Emails with marketing videos saw click-through rates increase by 200% to 300%. The term “video” is a click magnet. Many studies report that the mere mention of video in a subject line is enough to increase open rates by 20%. These are tangible results that prove the insatiable demand for video consumption we made reference to earlier.
The jury is out, and video is not exclusive to a B2C market. More and more B2B companies are finding success with videos that appeal to their target market, and help to nurture online business. These results should encourage you to take a closer look at how your target buyers are making their decisions in a predominantly online marketplace.
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