Month: June 2019

The 2019 Video in Business Benchmarks You Won’t Want to Miss [Infographic]

By now, every marketer worth their salt knows that video’s no passing fad.

The truth is that it’s an incredibly powerful medium and its value to businesses—both B2B and B2C—is only increasing.

Of course, as more brands start using video, it’s becoming more and more important to make your video content the best it can be so that you can stand out.

Knowing what your contemporaries (and your competitors) are doing is key. That’s why you need benchmarks to guide best practices, help you identify opportunities, and evaluate your own success.

Lucky for you, we’ve done the hard work for you. Introducing our 2019 Video in Business Benchmark Report, which analyzes business’ use of video to support marketing and sales efforts.

The 2019 Benchmark Report covers things like how many videos businesses are creating, the most popular viewing times, the average length of videos, what types of videos are being created, where videos are being shared, the average retention rate for video content, and more.

Check out the infographic below for some of the most interesting takeaways from the report, then download the full report to get all the insights you need to shape your video strategy—in 2019 and beyond.

Know where you stand, so you can stand out.

Infographic visualizing takeaways from Vidyard's 2019 Video in Business Benchmark Report [click image to view PDF]

Download a PDF version of the infographic.

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How to Get Legal Prospects to Crack a Smile Using Video [Videoify My Pitch Tips]

The average sales email uses “I” a bit much.

As in, I’d love to get time on your calendar. I’d like to chat. I was wondering. It’s like getting a terse “sup” from a stranger on a dating app. Prospects deserve better. Don’t you think?

Here at Vidyard, we’re always seeking the most creative and compelling ways sales reps can bond with prospects using video so we assembled a superteam of sales and marketing experts for our Videoify My Pitch program.

These experts took real email templates and phone scripts submitted by real sales reps and showed how they could be transformed into engaging video pitches.

The Videoify My Pitch Panel:

  • Marilyn Cox, VP of Marketing at Cubeessential Holdings
  • Matt Heinz, President of Heinz Marketing
  • Morgan Gillespie, Account Executive at Fullstory
  • Tyler Lessard, VP of Marketing at Vidyard

The panel of experts helped Videoify My Pitch webinar contestant Jacki Leahy, Director of Business Development at LinkSquares, generate a ton of creative ideas for breaking through to a notoriously difficult audience: legal professionals.

THE SITUATION: Selling to Proud Prospects

LinkSquares sells AI-powered contract document management solutions to general counsels and CFOs, who aren’t always the easiest to work with. Or patient. Or forgiving.

In Jacki’s words, “They’re like a proud lion with a thorn in their paw,” and it takes a lot to earn their respect and attention.

The team of sales video experts agreed that there are two factors at play for Jacki when she’s working to earn her prospects’ confidence: who her prospects are and who she is.

Good creative outreach is about playing up characteristics that are true to Jacki because she can’t be expected to keep up an act. Your first video is a preview of working with you. Whatever you start, you must finish.

Who are LinkSquares’ prospects?

LinkSquares prospects are general counsels and CFOs. They’re dominant, risk averse, knowledgeable, and prize their time.

What are their pain points?

Searching for contracts. So many contracts. They often work late looking for files and miss out on valuable time with family or activities they love. Whenever a regulation changes, they manually scour contracts to find clauses that require updating.

What makes the sales rep special?

Jacki is a real character. She loves to help others, runs distance, says yes to improv, and takes her volunteering as seriously as her work. In her words, “Selling like a boss.”

What is she selling?

LinkSquares provides an AI-powered cloud storage and tagging system that relieves people’s contract pains, if only Jacki can break through.

THE ADVICE: Be Human and Use Humor to Stand Out

It’d be easy for Jacki to emulate the reserved style of her prospects, but if Jacki’s going to be noticed, she has to interrupt their pattern. Where other sales reps zig, she needs to zag.

“Buildings don’t write checks, but people do,” says Matt. “Even general counsels have a sense of humor and are interested in seeing interesting things.”

A keen understanding of your audience’s habits, needs, pains, and pet peeves can give you plenty to work with when creating videos. And knowing who you are and how you can relate to them makes for interesting, story-driven videos that create a real connection.

The team came up with eight different video pitch ideas—complete with mockup videos—for Jacki. These are three of their favorites, with Tyler playing the role of Jacki.

Option No. 1: Frame it as a Story

One way salespeople can generate a human connection is by framing their prospect’s pain as an archetypal story, made up of heroes, villains, and a status quo that gets flipped.

In Jacki’s case, the hero is the prospect, valiantly hacking away at an unending backlog of administrative work with their trusty sidearm—the Control and F keys. The villain is the process—rolling hills of paperwork, files, and documents. When the government changes a regulation and the process threatens to keep the hero from their family or beloved volunteer time, what are they to do?

Option No. 2: Prop it Up

Another approach is to employ props. Get meta, says Tyler. Gather props from around the office to assemble a visual analogy like an idea the team had around nappuccinos—a theory that downing a coffee before a short nap boosts your creative energy—and the fact that Jacki’s prospects don’t have time for that sort of luxury.

Option No. 3: Punch the Shark in the Nose

Bluntness also sells. “What do you do when a shark swims up to you?” asks Morgan. “You punch it in the nose.” Try videos that get right to the point, which is something Jacki’s prospects, with the premium they place on time, are guaranteed to appreciate.

Want more inspiration? Watch all eight videos the team generated for Jacki. As you can see, the production value needn’t be unattainably high. All you need is you on camera talking about things your prospects care about—instead of just saying “sup.”

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14 Benefits of Video Marketing for Small Businesses

Chances are, if you’re a marketer for a small business, you wear many different hats. Some of them probably aren’t even marketing hats. From product marketing to content creation, social posts to event presence—even sales—you name it: It’s on you.

So why would you want to and add video marketing on top of all that? The truth is, there are A LOT of benefits of video marketing for small businesses.

We’ve got 14 reasons why you should care about video—along with examples of how video can help your business and save you time and money in the long run.

1. Get on the second largest search engine in the world

With over a billion users who watch over 250 million hours of video each day, YouTube is the second largest search engine in the world. It’s where your potential buyers are searching, so you’d better be there. “How-to” searches are among the most popular on YouTube, making educational content a strategic opportunity in this space.

Make the most of the platform by understanding how YouTube content fits into the buyers’ journey.

2. Rank higher in search

While YouTube is the second largest search engine, Google is the first. Adding video to your website can increase your search rankings on Google (and others like Bing and Yahoo) significantly.

The truth is, adding a video to your website increases your chances of ranking on the first page of Google results by 50x. That makes it well worth the effort—especially when 75% of people never venture past that first page!

3. Increase the understanding of your product

Products can be complex, and it’s essential that your audience understands yours before they make a purchase. Lucky for you, website visitors are 64 to 85% more likely to purchase after watching a product video.

An explainer video gives you a chance to show—not just tell—potential customers what you’re offering and how it solves a problem. It tops our list of recommended videos to make first. So if you don’t have one yet, get on it!

4. Offer your consumers the medium they want

Video traffic will account for 80% of all consumer internet traffic in the world by 2021! On top of that, 4x as many consumers would rather watch a video about a product than read about it, according to eMarketer.

Without a doubt, video content is your audience’s medium of choice. Knowing that, why not give the people what they want?

5. Boost email click-throughs

Including the word video in an email subject line can boost open rates by 19%, and click-through rates by 65%. According to Martech Advisor, including video in emails can boost click rates by 300%!

The best way to include video in email is not to embed the video itself. This is because most email clients don’t actually support inline playing of the video. Even if they do, large video files increase the likelihood of your email getting caught in spam filters. Instead, include a thumbnail from the video in the email body that users can click to view the video on your website or landing page. You can even set the player to autoplay for the fewest clicks.

See what it looks like in the screenshot below.

screenshot of video sent via email

6. Build stronger brand affiliation and connection

Watching a video provides both audio and visual stimulation. The mere activation of both of these areas of the brain means that viewers are more engaged and therefore naturally develop stronger affiliation and interest in the content they’re consuming.

This is crucial for a small business striving for brand recognition and dependent on loyal customers who keep coming back for more.

7. Capitalize on the low barrier to entry

A lot of small businesses (and businesses in general) think that there are high costs associated with video and a long list of equipment that makes getting into the video marketing space tricky. It turns out, that’s all a myth.
Chances are, you have at least a 1080p camera in your pocket or on your desk right now. Maybe you’re even reading this post on it.

All you actually need to get started is a smartphone and some basic editing software. Even something like iMovie can be all the muscle you need to get started. So play with the big kids—you’re ready now!

8. Show up more in social feeds

Social feeds (Facebook and Instagram, specifically) do a great job of showing people what they want to see. Algorithms based on users’ previous activity, make it hard for small businesses to be discovered by new audiences.

At the same time, video posts are rising to the top of newsfeeds everywhere. People are more likely to stop mid-scroll for eye-catching video content and those interactions will always help your reach. So when it comes to social, video is your express route to being seen.

9. Create more low-touch education options

You don’t have a big team… even outside of marketing. So the more you can encourage your audience to educate and help themselves throughout the buyer’s journey, the better.

By creating low-touch educational video content, you make it easier not only on the buyer but also on the sales team. (Especially if that sales team is you!)

10. Tell a stronger story

There’s no better way to reel buyers in than with a compelling story. And who better to share your story than your biggest advocates: Your customers? You can record customer testimonials in person, but that isn’t always possible.

Luckily, there are other ways to make the magic happen. Getting a customer on video can be as simple (and as low-cost) as asking them to record themselves on their webcam or phone (use a free tool like GoVideo to make it even easier). You can provide them with a list of possible questions to answer or let them run with things completely unscripted. Either way, it’s powerful to have a real person explain in their own words why they love your product, your brand, and your team.

14 Benefits of Video Marketing for Small Businesses 1

11. Increase conversions

Conversion rates double for websites using video. Your website is dying for a play button.

12. Track potential buyer consumption patterns

As video evolves, so do video metrics. It’s now not only possible but easy to track how long people are watching and what areas of your video are being re-watched or skipped.

Wait: It gets better. If you’re using a video platform that’s integrated with your marketing automation platform (MAP), like Hubspot, you can see this info for each of your potential buyers. That means you can create targeted follow-ups and have a more accurate idea of who’s interested and most likely to buy. If you have HubSpot, find out how to add video to your campaigns natively from your account.

Video editing screen capture

13. Make friends with authentic video footage

While you may think that high-budget, Hollywood-style videos are the ultimate goal, they may not be. And your smaller budget might actually pay off.

Today, buyers want to connect with brands, and creating scrappy webcam videos or screen shares can start to build that relationship authentically. Free video creation tools like GoVideo allow you to create, track and share these videos with three clicks of a button.

Get your CEO behind the camera and get going!

14. Get More ‘Bang for Your Buck’

As many as 40% of consumers state that video increases the chance that they’ll purchase a product on their mobile device. Website visitors are 64% more likely to purchase on an online retail site after watching a video.

Companies that use video are growing revenue 49% faster than those that don’t. The numbers speak for themselves, but we’ll say it anyway: You need video.

Now that you know why small businesses need video content, just remember that it’s not only video that will help your business grow, it’s how you use it. For more information on where you should be using video, check out the A Video Focused Buyer’s Journey Using Youtube and Vidyard [Infographic].

 

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Vidyard Releases 2019 Video in Business Benchmark Report; Uncovers Latest Trends on Video Creation, Publishing, Engagement and Analytics Across B2B Markets

Vidyard Releases 2019 Video in Business Benchmark Report; Uncovers Latest Trends on Video Creation, Publishing, Engagement and Analytics Across B2B Markets

Findings show that businesses are producing more videos than ever, average video length is down 33% while average viewer retention rate is up 13%, and more businesses are augmenting their video strategies with in-house content creation and advanced video analytics

KITCHENER, Ontario – June 18, 2019 – Vidyard, the leading video platform for businesses, has released its third annual Video in Business Benchmark Report revealing the latest trends and benchmarks in video content creation, publishing, viewer engagement, and analytics by business-to-business (B2B) organizations. By analyzing first-party data from more than 324,000 videos published over a 12-month period, Vidyard uncovers vital insights on how businesses are using online video content to support their marketing, sales and customer experience programs.

Findings from the new report show that the average length of videos is trending shorter and shorter while audiences are opting to engage in videos longer. Organizations in high-tech, professional services and media, entertainment and communications are most prolific with video while businesses with more than 5,000 employees and less than 200 employees lead the way in video publishing. The most recent year also showed a sizeable increase in the number of companies moving toward using a mix of internal and external video production resources to meet the shifting expectations of buyers, and the number of companies using intermediate or advanced video analytics has significantly increased.

TL;DR– Your Key Takeaways from the 2019 Video in Business Benchmark Report

  • Average business video length is trending shorter year-over-year: In 2018, the average length was 4.07 minutes long, 33% shorter than 2017’s 6.07 minutes.
    Business audiences are staying tuned longer: 52% of viewers watched all the way through to the end of the video across all viewing sessions. This is up from 46% who would do the same in 2017. 68% of viewers watch a video to the end if it’s less than 60 seconds.
  • Mid-week is the most popular time for business video views, with Thursday seeing the most views overall. Viewing peaks in the morning, regardless of the day of the week, typically between 9 and 11 a.m. PST (12 to 2 p.m. EST).
  • Desktop viewing still dominant for business video engagement: The majority of video views still take place on desktop (87%), but mobile views continue to increase. This year, 13% of business video views happened on mobile, a small increase from the previous year’s 11%.
  • Smaller companies accelerate video content creation: Businesses with 31-200 employees published a staggering 510 new videos on average in 2018, second only to large businesses with more than 5,000 employees. More small and medium-sized companies reported using both internal and external video production resources to help them scale video creation while also producing higher quality content. 52% are using both vs. 37% in 2017.
  • Video analytics see increased adoption in business: In 2018, 85% of companies reported using some form of video analytics. The use of intermediate or advanced video analytics has increased significantly, by 19% over the previous year.

According to The Forrester Tech Tide™: Video Technologies For Customer And Employee Experience, Q1 2019, companies use video to engage their employees, serve their customers, and entice their prospects. Video conveys emotions and information, unlike any other medium. The report goes on to note that financial services companies cut support time with video and that enterprises enable faster and more effective collaboration with video. More than just an entertainment medium, video powers a business’ ability to inspire, collaborate and communicate.

Video Creation and Publishing: Your Size Doesn’t Matter

Many industries are relying on video content to power marketing, sales, communications, and support. On average, the report found that the high tech, professional services, and media, entertainment and communications industries created more videos than other fields. Types of videos range from promotional content to educational videos to content for sales enablement.

Unsurprisingly, companies with more employees produce more videos on average. The largest enterprises (5,000 employees or greater) created an average of 538 videos throughout the year. However, these organizations are closely followed by the opposite finding: smaller businesses with between 31 and 200 employees who produced an average of 510 videos, suggesting that they’re taking a scrappier approach to their video production strategy, and see video as an important way to compete with larger businesses.

Resourcing Your Team: Production of Video Content

More companies are hiring employees to create video content or helping their existing staff get skilled up in video production. This year, there was an increase in small and medium-sized companies moving towards using a mix of internal and external resources for video production than the previous year (52% using both, versus 37% in 2017). Meanwhile, enterprise organizations are relying more on their employees to create video content, with 38% of that content being produced internally, and another 38% using a mix of internal resources alongside agencies, contract employees, and freelancers.

When it Comes to Video Length, Shorter is Better. Or is it?

In 2018, the average video length was 4.07 minutes long, 33% shorter than 2017’s 6.07 minutes. This trend continues back to 2016 when the average length was 13.14 minutes! This may suggest that businesses are recognizing that shorter videos help to maximize engagement, or perhaps it’s a reflection of the types of content they are now producing.

When it comes to viewer engagement, unsurprisingly, videos that are less than 60 seconds have the highest completion rate. However, videos that are between 2-4 minutes had a higher completion rate than videos that are between 1-2 minutes in length, suggesting that longer-form videos meant to educate buyers can still command attention!

The most common types of videos are webinars, demos, and social media videos. Explainer videos, product videos, and customer videos are also popular formats. More than ever, businesses are using video throughout the customer journey. They recognize the power of video to explain to potential customers what they do, what they offer, and how it helps them. The popularity of webinars suggests that there’s also a thirst among brands’ audiences for longer-form educational content.

Video Publishing and Promotion: Your Times and Dates Matter For Maximum Engagement

Business-created video content is viewed more mid-week, and weekdays continue to be more popular than weekends. Audiences watched more business video content Thursdays than any other day of the week (22%). In close succession, Wednesday (18%) and Tuesday (17%), with Monday and Friday tied at 15%. Saturday and Sunday trail behind significantly, holding only 7% and 6% of viewers respectively. Video views peak between 9 and 11 a.m. PST (12 to 2 p.m. EST) on weekdays.

Video Analytics: Understanding Your Video Performance and Impact

Video analytics help companies better understand the performance of their video content, beyond just view counts. As companies produce more and more video content, it’s important for them to understand who is consuming it and how it is impacting revenue, rather than just how many views each video received. In 2018, 85% of companies reported that they’re using some form of video analytics. More organizations than ever before (43%) are taking advantage of the insights available through intermediate and advanced video analytics—a 19% increase over the previous year.

The 2019 Video in Business Benchmark Report was created and produced by Vidyard. These findings are based on the analysis of first-party data collected from more than 324,000 videos published by Vidyard customers over a 12-month period, from January 1, 2018 to December 31, 2018. It also includes anonymized aggregate viewership and engagement data from all video streams during that period. The results have also been compared to consistent data sets from the previous year’s benchmark report to offer insight into year-over-year trends. No personal information of viewers was used in compiling the Report.

To view Vidyard’s full 2019 Video in Business Benchmark Report, visit https://www.vidyard.com/business-video-benchmarks.

About Vidyard
Vidyard is the video platform for business that helps organizations drive more revenue through the use of online video. Going beyond video hosting and management, Vidyard helps businesses drive greater engagement in their video content, track the viewing activities of each individual viewer, and turn those views into action. Global leaders such as Honeywell, LinkedIn, Citibank and Sharp rely on Vidyard to power their video content strategies and turn viewers into customers.

Media Contact:
Sandy Pell, Head of Corporate Communications, Vidyard
press@vidyard.com

 

 

Assets:

TL;DR– Your Key Takeaways from the 2019 Video in Business Benchmark Report

Average business video length is trending shorter year-over-year: In 2018, the average length was 4.07 minutes long, 33% shorter than 2017’s 6.07 minutes.

Average business video length is trending shorter year-over-year: In 2018, the average length was 4.07 minutes long, 33% shorter than 2017’s 6.07 minutes.

 

Vidyard Releases 2019 Video in Business Benchmark Report; Uncovers Latest Trends on Video Creation, Publishing, Engagement and Analytics Across B2B Markets 2

Business audiences are staying tuned longer: 52% of viewers watched all the way through to the end of the video across all viewing sessions. This is up from 46% who would do the same in 2017. 68% of viewers watch a video to the end if it’s less than 60 seconds.

 

Mid-week is the most popular time for business video views, with Thursday seeing the most views overall. Viewing peaks in the morning, regardless of the day of the week, typically between 9 and 11 a.m. PST (12 to 2 p.m. EST).

Mid-week is the most popular time for business video views, with Thursday seeing the most views overall. Viewing peaks in the morning, regardless of the day of the week, typically between 9 and 11 a.m. PST (12 to 2 p.m. EST).

Desktop viewing still dominant for business video engagement: The majority of video views still take place on desktop (87%), but mobile views continue to increase. This year, 13% of business video views happened on mobile, a small increase from the previous year’s 11%.

Desktop viewing still dominant for business video engagement: The majority of video views still take place on desktop (87%), but mobile views continue to increase. This year, 13% of business video views happened on mobile, a small increase from the previous year’s 11%.

 

Smaller companies accelerate video content creation: Businesses with 31-200 employees published a staggering 510 new videos on average in 2018, second only to large businesses with more than 5,000 employees. More small and medium-sized companies reported using both internal and external video production resources to help them scale video creation while also producing higher quality content. 52% are using both vs. 37% in 2017.

Smaller companies accelerate video content creation: Businesses with 31-200 employees published a staggering 510 new videos on average in 2018, second only to large businesses with more than 5,000 employees. More small and medium-sized companies reported using both internal and external video production resources to help them scale video creation while also producing higher quality content. 52% are using both vs. 37% in 2017.

 

Video analytics see increased adoption in business: In 2018, 85% of companies reported using some form of video analytics. The use of intermediate or advanced video analytics has increased significantly, by 19% over the previous year.

 

 

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