“People don’t like videos.” Said no one ever!
So why do some marketers remain unconvinced of the value that video can bring to an industrial manufacturer or other B2B industry?
Listen, we get it! Producing videos for direct B2C products or services is generally easier (and more engaging and entertaining) than those created for highly considered or complex manufactured goods or services.
But it doesn’t have to be that way!
When done right, videos for B2B industries can rival those produced for direct-to-consumer products and positively impact your bottom line. But don’t just take our word for it. We’ve gathered the latest 2020 video stats that prove video is an effective (and necessary) tactic for B2B marketers now and in the future.
The Use of Video Continues to Rise
Video is a central part of how we live, whether streaming a show at home or researching a solution for a complex problem at work, and marketers are taking note.
- 87% of businesses use video as a marketing tool — up from 63% in 2017 and 81% in 2018
- 59% of those who don't currently use video, say they plan to start in 2020
- 92% of marketers say video is an important part of their marketing strategy, with 88% finding that video gives them a positive ROI (Contrast those figures with the 33% who found a positive ROI in 2015)
- 99% of current video marketers plan to continue using video in 2020 and 95% plan to increase or maintain their spend
- 41% say video helped them reduce support queries
Video is a Preferred Media
Video has become the preferred way most users consume content, and it’s the perfect media for demonstrating highly complex products or services. In such B2B industries, “showing” rather than “telling” gets the point across much quicker and more effectively.
- When asked how they’d most like to learn about a product or service, two-thirds of people (66%) said they’d prefer to watch a short explainer video
- 86% of people want to see more videos from brands in 2020
- 95% of video marketers say video has helped increase user understanding of their product or service.
Since video is the first choice for many online visitors, you can expect competition for gaining the attention of your target audience to increase in 2020. To help you cut through the noise, marketers should include more stories and narrative in their videos. This may translate into creating long-form content in 2020, challenging the notion that short videos are the only way to go.
Video Gets Results
Those who use video have seen a major increase in engagement among prospects. The research conducted by Wyzowl shows that:
- 83% of video marketers say video helped them generate leads
- 80% of video marketers say video directly helped increase sales
- 89% of video marketers say, in general, that video gives them a good return on their investment
It’s one thing to get video views — it’s another to get results. One indicator of how effective your video is requires measuring the watch time, not just the number of views. It’s a much better metric to assess the value of a video.
Video continues to play a major role in driving business performance and has become a vital tool as part of every customer’s buyer journey. It not only serves as a starting point for learning about a product or service; it increasingly serves as a decisive factor that can turn a prospect into a purchaser.
Social Media Is an Important Element
Manufacturers and other B2B organizations have warmed up to the idea of using social media as part of their inbound marketing strategies, and rightly so. Various platforms such as LinkedIn, Facebook, YouTube and Twitter — the top social networks — have helped to build brand awareness, push content and even attract skilled workers in a shrinking labor pool. These platforms have also improved their functionality to offer higher-quality video streaming and interactive features to appeal to advertisers.
The lines between personal and professional use of these platforms are being blurred, and many B2B buyers and potential hires are considering the types of content found on them as part of their decision-making processes. Every medium for consuming social content has grown, but none so much as video on social.
- Video generates 1200% more shares than text and images combined on social platforms
- 87% of marketers found video to be an effective strategy on LinkedIn
- 85% of marketers have published video content on YouTube
- 79% of marketers have published video content on Facebook
Don’t Put it Off
Have you put off using video as part of your B2B inbound marketing strategy? If so, it’s time to jump in or risk being left behind in the competition’s dust.
To get started, check out our exhaustive library of video marketing resources that are specifically tailored to B2B industries and, of course, they feature videos you can watch, too.
Another reason some companies put off producing video is the misperception that it will cost too much. That’s not always the case, especially when you have an efficient and expert team to help you get it done. If you need help creating compelling video for your B2B company as part of your inbound marketing strategy, reach out to us here at Weidert. We’re eager to help you catapult your marketing efforts.
This blog was originally published in February 2018 and has since been updated for comprehensiveness and current best practices.