In 2018, video became one of the most desirable forms of digital marketing content. But whilst B2C brands have been quick to use video in their marketing, many B2B companies have been slow to take advantage of this fantastic resource. The truth is, B2B companies who do invest in video find that it is extremely rewarding. Here are 7 reasons why video can improve B2B marketing.
1. Video can improve sales
Not only has it become easier for companies to produce affordable and engaging video content, but, in a survey conducted by Tubular insights on B2B marketers “73% of them say video positively impacts ROI” and “50% are using video content for email marketing already”. Hubspot’s 2018 report revealed that 81% of businesses use video in their inbound marketing strategy, simply because the ROI is always higher then the investment made on the video. For B2B businesses, including a video in your landing page can increase conversions by 80% (Insivia). Largely due to the fact that on average people spend 2.6x more time on pages with video than without (Insivia).
2. Videos can be both short term and a long term strategies
People say that a picture speaks a thousand words, well guess what, one minute of video is worth 1.8m words (Biteable). The great thing about video is that you can create multiple edits from a single shoot. Leading to both long form (2 minutes or more) and short form content (5 – 15 seconds). You can use these assets in multiple customer touch points like your website and social media channels.
3. Social media video marketing is booming
Word on the street is B2B businesses are starting to see the positive effects social media marketing can have on customer retention and new business. A study reveals that 53% of B2B prospects say social media plays a huge role in their buying decision (entrepreneur). Luckily for you, all social media platforms prioritise video, and there are now so many ways for you to reach your target audience. From Facebook Live and Stories, to Instagram TV. Google organically prioritises and boosts any video posted on the internet through its search engines (Alexa).
4. Audiences and customers find it easier to engage with video content
Where both video and text are available on the same page, 72% of people would rather use video to learn about a product or service (Hubspot). Even CEO’s, Presidents and Managing Directors would rather watch a video then read graphs, diagrams and text (Wordstream). So when you understand that a person retains 95% more information through watching a video, compared to 10% when reading it in text (Wirebuzz) why wouldn’t you be using it? In 2017, online users viewed more than 500 million hours of video each day on YouTube (Business Insider), and in the past 30 days, the amount of video uploaded to the internet equals the amount of Television produced in the last 30 years (Blue Corona).
5. Storytelling has become more important for business owners
With the rise of video marketing and the proliferation of smart technology, more businesses are finding it easier to connect with their customers on a meaningful level (The Drum). TV advertisements have been surpassed by online adverts. Consumers now are more conscious of “fake news”, disloyal brands, false hopes, and unprofessional marketing practices. It has become a lot harder to pull the wool over people’s eyes, and they are now searching for deeper connections with businesses. We can see it in their consumption, with nearly 50% of internet users looking for videos related to a product or service before visiting a store, and making better buying decisions once viewing a branded video (Google).
6. Video creates an experience of being there
80% of users can recall a video ad that they viewed in the last 30 days, simply because it offers them a unique experience that can be different every time (Single Grain). You can convey multiple messages and feelings to your audience through video, and it also offers you the opportunity to build a one-on-one, personal connection with that single viewer. People are more willing to associate with your business if they can build a human connection with it, for example, 65% of executives have navigated to a vendor’s site, and 39% have called a vendor after watching a video (Forbes).
7. Video can cut through the noise
In comparison to static forms of marketing, video ads have an average clickthrough rate of 1.84%, the highest of all digital ad formats (Business Insider). And social video currently generates 1200% more shares than text and image content combined (Wordstream). The desirable form of content online for your customers, no matter what field they are in, is video. And brands that use video marketing grow their year-on-year revenue 49% faster than brands that don’t (Wirebuzz).
It’s crazy that there are still companies not investing in video marketing. Especially when you see all of these amazing facts and statistics. Marketing and advertising are becoming more important everyday for B2B and B2C companies. By incorporating video into your inbound and outbound marketing strategy, you are not only setting yourselves to be experts in your field, but you’re also saving yourselves a lot of time, money and resource. Your competitors are probably already doing video, so why aren’t you?