The short answer is, “Yes. The time is now.” Video supported marketing messages are much more likely than text to engage a prospect, be forwarded to a business associate or decision-maker, and positively affect your Google rating.
The infrastructure is all in place – adequate bandwidth exists just about everywhere, there are many cloud-based video streaming platforms (with embedded analytics) to choose from, and all your prospects have access to devices that play full motion video. B2B marketers are investing in everything from customer success stories, to online product demos, to animations.
Today’s business buyers are willing to spend one to five minutes to watch a well-produced video. This graph, taken from Forbes’ Video in the C-Suite study, shows that a majority of executives prefer three to five minute videos, while only nine percent prefer longer than five minutes, and 36% prefer videos that are one to three minutes in length.
In the Forbes study, 54% said they share work-related videos with colleagues every week. And 59% said that if both video and text are available on a page, they prefer to watch the video.
There’s a tsunami of anecdotal evidence and hard statistics providing proof that video marketing (as long as it’s produced and delivered properly) is cost effective for B2B companies. The use of video for content marketing jumped from 52% of B2B companies in 2011 to 70% in 2012, according to the 2013 B2B Content Marketing Benchmark.
According to Forrester Research, video increases the chance of a front page Google result by 53 times. In other words, you are 53 times more likely to land on the front page of Google with a video than with text. Forrester also reports that embedding video in e-mails increases click-through rates by two to three times.
In a research study by IDG, 95% of B2B tech buyers use video to advance their purchase behavior. And of those, 66% went on to research a particular vendor. Adobe’s 2013 Video Conversion Playbook states that video content can generate a 90% conversion uplift, and that 61% of marketers cite online video as the top optimizer for sales conversions.
The 2013 Technology CMO Roundtable produced a report based on the opinions of more than 50 B2B tech marketing executives. The report included some intriguing observations about tech marketing, including that “video is the most powerful channel for reaching key audiences,” and that “video’s value lies in its ability to help optimize organic search, and deliver instructional content, thought leadership and testimonials.” Fully 90% of the roundtable participants said they will increase their video marketing efforts this year.
The bottom line: Producing and distributing a compelling and informative video is an optimal way to get your foot in the door with other businesses. As a lead generation technique, video marketing is becoming essential. The next question is, “How do we launch a successful, cost-effective video marketing campaign – one with B2B lead generation as its primary goal?”
We’ll tackle that all important question in our next blog post. Meanwhile, I invite your questions and comments on the information included above.