STATE OF B2B VIDEO MARKETING 2015

Transcription

1 STATE OF B2B VIDEO MARKETING 2015 Research Report - November 2015

2 WHO WE SPOKE TO B2B marketers are giving increasing importance to video marketing, as suggested by the various studies that have been done on the subject, including our own 1, we wanted to understand in greater detail how marketers have been successful in implementing a video marketing strategy and what challenges they face in getting the most out of their investment. With this in mind, we spoke to senior marketers from companies across a range of product categories globally, with a fair mix of product and service offerings. 1 Source : State of B2B Content Marketing 2015 REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 01

3 KEY FINDINGS: 84% respondents expect their video marketing budget to increase in the next 12 months» tweet this «83% respondents agree - videos are effective in meeting their content marketing goals» tweet this «79% respondents use social media for distributing videos» tweet this «77% respondents say their customers prefer video content to text» tweet this «70% respondents say they invest in video marketing» tweet this «REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 02

4 MAJORITY OF ORGANIZATIONS SAY THEY INVEST IN VIDEO MARKETING 70 percent of respondents said their companies invest in video marketing. While this may seem encouraging, it still means that nearly one-third of the organizations we spoke to were yet to invest in it. Of those yet to invest, 57% said it was lack of budget that stopped them from investing, while 46% said it was lack of an effective video marketing strategy. Does your company invest in Video Marketing? 70% Yes 30% No REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 03

5 In your opinion, what are the key obstacles stopping you from investing in Video Marketing? Lack of budget 57% Lack of effective Video Marketing strategy 46% Lack of expertise 32% Inability to measure the effectiveness/ ROI 29% Inadequate understanding of target audience behavior 18% Inability to track/ measure the campaign performance 14% Highly competitive 4% REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 04

6 83 PERCENT OF RESPONDENTS AGREE VIDEOS ARE EFFECTIVE IN MEETING THEIR CONTENT MARKETING GOALS The remaining 17% said they somewhat agree with the statement. Do you think videos are effective in meeting your content marketing goals? 83% Agree 17% Somewhat agree REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 05

7 INCREASE BRAND AWARENESS TOPS THE LIST OF OBJECTIVES PURSUED BY VIDEO MARKETING 91 percent of respondents we spoke to, chose increase brand awareness as their key video marketing objective, followed by accelerate lead generation (68%) and establish oneself as a thought leader (66%). Significantly, most of the objectives pursued were towards pre-sale; of the post-sale objectives, enhance customer adoption and usage of products/ services was mentioned by 51% of respondents. REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 06

8 Which of the following objectives do you plan to meet using Video Marketing? Increase brand awareness 91% Accelerate lead generation 68% Establish oneself as a thought leader 66% Build credibility and trust 62% Trigger customer engagement 62% Influence purchase 55% Enhance customer adoption and usage of products/services 51% Convey unique product positioning 49% Build competitive advantage 40% Define product use case 33% REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 07

9 CORPORATE VIDEOS, PRODUCT DEMOS AMONG MOST POPULAR VIDEO FORMATS Corporate videos (76%) proved to be the most popular video format used by marketers as part of their marketing mix; followed by product demos at 64%. Keeping in line with our earlier observation that video marketing was used more as a pre-sale tool; a majority of the popular video formats were also skewed toward performing better at the pre-sale stage of the buying cycle. REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 08

10 Please select the different formats of videos used as a part of your marketing mix. Corporate Videos Product Demo Webinar How-to/ Tutorial Testimonials Interview Case Study On-Location/ At-Event Animations Presentation Chalk-Talks/ Expert-Talks 76% 64% 55% 51% 51% 49% 44% 38% 38% 24% 22% Vlogs 20% Product Reviews 15% Viral Videos 11% Behind-the-Scenes/ Documentary 11% Vine 6% REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 09

11 Please map which of these different video formats perform better at different stages of the buying cycle? Pre-Sales Stage Post-Sales Stage Testimonial Case Study Viral Videos Corporate Videos Product Demo Chalk-talks/Expert-Talks On-Location/ At-Event Presentations Interview Vines Webinar Vlogs Behind-the-Scenes/Documentary How to Tutorial 86% 14% 85% 15% 84% 16% 83% 18% 83% 17% 74% 26% 73% 27% 70% 30% 69% 31% 67% 33% 61% 39% 52% 48% 44% 56% 13% 87% REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 10

12 SOCIAL MEDIA - THE MOST USED CHANNEL FOR DISTRIBUTING VIDEOS Social media (79%) topped the list of channels most frequently used by marketers for distributing videos, followed closely by websites at 77%. What are the top 3 media channels that you use for distributing videos? Social Media Websites Video Sharing Sites Events (web-based/ in-person) Search Engine (Organic) Mobile Paid Search 79% 77% 58% 56% 25% 21% 8% 6% REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 11

13 VIDEO CAMPAIGNS FOR MOBILE DEVICES NOT A POPULAR OPTION; BUT OPTIMIZATION FOR MOBILE IS Only 23 percent of respondents said they run video campaigns especially for mobile devices; in comparison, 47% of respondents said they either use a mobile application or optimize their videos for mobile viewing. Do you run video campaigns especially for mobile devices? 23% Yes 77% No REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 12

14 Do you use any of the following strategies to optimize the experience for Mobile users? Use the YouTube mobile application 47% Make sure videos are mobile optimized including customizing the text and screen for smaller - screen devices 47% Enable HTML live streaming to deliver video quality based on viewers bandwidth 24% Enable view later option 12% REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 13

15 WHEN IT COMES TO PROMOTING THEIR VIDEOS, MOST MARKETERS STICK TO BASICS Adding tags & titles was picked by 75% of the respondents we spoke to, as the strategy they used for promoting their videos; while 72% chose integrating your video/ YouTube channel with your website. Paid advertising only accounted for 19% of respondents. REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 14

16 List the strategies you use for promoting your videos. Adding Tags & Titles 75% Integrating your video/ Youtube channel with your website 72% Keeping video short 70% Adding a call to action to the description and annotation 55% Adding your videos to strategic playlists Branding your YouTube channel by customizing the layout, playlists to match your brand experience Integrating your community with your videos 36% 28% 23% Paid advertising 19% Separate landing page for each video 19% Making video interactive: including in-video links, quizzes, surveys and forms Working with celebrities to endorse your video 17% 2% REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 15

17 86 PERCENT OF RESPONDENTS RELY ON TRACKING VIEWS TO MEASURE THE PERFORMANCE OF THEIR VIDEOS While a large majority of marketers chose to keep it simple, there were others who picked more sophisticated parameters like attention span and drop-off rates (54%) to measure the performance of their video marketing efforts. Which metrics do you use to measure performance of your videos? Tracking Views 86% Attention span and drop-off rates 54% Leads Generated 54% Clicking call to action 49% Click through rates 47% Social Media Conversations 42% Engagement 40% Event tracking using Google Analytics The total amount of your video content leads consume Revenue/ Sales Growth 23% 14% 14% Brand Mentions 9% Customer Recommendation 9% REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 16

18 HALF THE ORGANIZATIONS OUTSOURCE THEIR VIDEO MARKETING ACTIVITIES 51 percent of the respondents we spoke to, said they outsource their video marketing activities. Do you outsource your Video Marketing activities? 51% Yes 49% No REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 17

19 CUSTOMERS FAVOR VIDEOS, SAY MARKETERS; BUT COST STILL A KEY CHALLENGE 77 percent of respondents said their customers prefer video content to text; while another 63% felt videos are more likely to get shared over social media than other content formats. When asked what the key challenges to video marketing were, 77% of the respondents chose to mention cost, while 59% mentioned difficulty in measuring ROI. What are the benefits of Video Marketing? Customers prefer video content to text Videos are more likely to get shared over social media than other content formats Videos increase open rate/ click through rate Video are easily searchable 77% 63% 51% 14% What are the key challenges of Video Marketing? Cost Difficulty in measuring ROI Lack of expertise Difficult to convert viewers Distributing video content Management buy-in 77% 59% 34% 25% 23% 16% REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 18

20 MOST MARKETERS EXPECT THEIR VIDEO MARKETING SPENDS TO GO UP IN THE NEXT 12 MONTHS 84 percent of respondents said they expect their video marketing budget to increase in the next 12 months; 16% felt it would remain the same. None thought it would decrease. When asked what the current allocation toward video marketing was, 68% of the respondents said it was less than 10% of their marketing budget. What percentage of your marketing budget is currently allocated towards Video Marketing? Less than 10% 68% Between 10 and 25% 25% Between 25 and 50% 2% More than 50% 5% How do you see your Video Marketing budget change over the next 12 months? 84% Increase 16% Remain the same REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 19

21 FINAL THOUGHTS Video remains a highly favored type of content for consumers. In fact, according to a recent study done by Cisco 1, video will account for 80 percent of all consumer Internet traffic by 2019, up from 64 percent in More and more B2B marketers are realizing the potential behind video. But a lot still needs to be done to fully tap into it. For one thing, marketers need to experiment with different formats of video that are available today. Whether it is a Vlog or a Vine video, the options are diverse, and innovating on the format will ensure greater engagement with the consumer. Given the increasing dominance of mobile, there is clearly a need to look at a mobile - defined strategy for content including video. The amount of new video content being churned out every day is staggering. To make themselves heard, marketers need to pay close attention to how well they are telling their story in their videos; and further, to look at more innovative ways of promoting them. Video content requires higher investment. And organizations have to develop advanced metrics to understand how each of their video content is performing, to ensure better ROI. In spite of all the evidence supporting video, nearly a third of the organizations we spoke to were yet to invest in it. Organizations that have not made video a part of their content strategy should give serious consideration to making it an important part of their content mix. 1 Cisco Visual Networking Index: Forecast and Methodology, REGALIX RESEARCH STATE OF B2B VIDEO MARKETING 2015 / 20

22 ABOUT THE ANALYSTS Nimish Vohra SVP, Principal Analyst Nimish, Senior Vice President, works with CMOs and senior marketing professionals. His research focuses on customer experience management, predictive analytics, mobile enablement and other emerging trends that help customers leverage technology as an enabler of marketing and business outcomes. Sridharan Narayan Vice President Consumer Services Having spent over two decades in advertising and brand management, Sridharan s passion continues to be content in all its forms. He is deeply concerned about the consumption of content assets across various consumer touch points, with media, being in more cases than not, the message. Through research, he intends to positively influence a client s business outcome, by being relevant to the consumer across the entire sales life-cycle.

23 ABOUT REGALIX RESEARCH Headquartered in Silicon Valley, we help the CMO organization leverage emerging digital practices for creating marketing leverage as they bring new products and innovation to market. Regalix Research helps marketers through research-based insights, consulting and peer-to-peer programs that guide marketing strategy development and execution. Our focus is helping Technology companies leverage innovation and best practices to create real differentiation. Our analysts are practitioners with a successful track record of delivering real marketing results for both leading Fortune 500 companies as well as venture backed firms. Regalix is an award-winning Global Innovation company that leverages technology and marketing to help companies grow. We create successful ventures with our clients through co-innovation and idea-driven frameworks that inspire companies to think different. We bring ideas to life by envisioning new companies, developing brands, engineering products, and designing technology platforms. Founded in 1998, Regalix is based in Palo Alto. Our Silicon Valley setting has enabled us to stay ahead of emerging trends in digital technology and marketing. For over a decade, we have provided complete marketing services Social, Mobile, Content, Multi-channel Campaigns, Technology Development, and Analytics to companies such as CA Technologies, Citi, Apple, ebay, Cisco, VMware, NetApp, Cypress, LSI, Keynote, and MetricStream. For more information To find out how Regalix can help you, please contact our office, or visit us at Regalix Research 1121 San Antonio Road, Suite #B200 Palo Alto, CA (US): (India): research@regalix-inc.com