August 13, 2020
Press Play on Your B2B Revenue Growth: 6 Benefits of Video Marketing
Sometimes a new channel, platform, or tool comes along in the business world that you just know is here to stay. At least for a while. Video is one of them. It’s not one of those tools that’s “nice to have” anymore. Incorporating video into your sales and marketing strategies is a must-have that warrants your attention.
While video marketing has been around for a while in B2C, now thanks to the many benefits of video marketing we’re seeing B2B come around to it and use it in their:
- Sales processes
- Marketing campaigns
- Social media platforms
- Lead generation efforts
- Email marketing
- Outreach pitches
- And More!
What is Video Marketing
According to HubSpot, video marketing is using videos to promote and market your product or service, increase engagement on your digital and social channels, educate your consumers and customers, and reach your audience with a new medium.
What are the Benefits of Video Marketing for Business
Increase Brand Awareness and Consumer Trust
Video is a great way to increase your brand awareness. It allows your customer base to grow by helping more people find out who you are and what you do in a more engaging way. With 54% of consumers wanting to see more video content from a brand or business they support, you need to be sure you’re one of those brands or businesses or your competitors will.
Meet your customers or potential customers where they are and in the format they want. By incorporating video marketing into your strategy, you’ll increase your brand awareness, build consumer trust and increase your online presence.
Increase Conversion Rates
More than just increasing your brand awareness and getting in front of your prospects, one of the biggest benefits of video marketing is the increase it can provide to your conversion rates and generate leads. Smart Insights noted that embedding a video on your site can increase conversion rates by up to 80%
Here are a few ways to incorporate video to help boost your conversion rates:
- Add video to your high traffic landing pages
- Insert a lead capture form in your videos
- Add video to your thank you pages
- Include videos in your prospecting emails
- Send a personalized video to high-potential leads who download your resources
- Add video to other pages on your website, client testimonials, such as solutions pages, and more
Boost Social Media Engagement
According to Animoto, video is consumers’ #1 favorite type of content to see from brands on social media. If you want to engage with your customers in a way that gets their attention, video is it. Not only that, but video is the most shared content on social media.
In fact, Facebook actually places a higher priority on video content. Engadget says that Facebook will prioritize videos that people seek out and return to repeatedly. It will also add weight to videos that keep people engaged for at least a minute, especially if those videos are three minutes or longer. Facebook is placing a higher priority on video content because they know that’s what users want.
Remain Relevant in Your Industry
Video isn’t going away anytime soon and if they haven’t already, your competitors will start using video in their sales and marketing efforts.
If you want to remain competitive and relevant in your industry and among your potential buyers and current customers, then video needs to be in the picture. Given the fact that buyers are consuming video at increasing rates, it’s not a matter of if you need to use video, but when. That “when” is today and right now.
Increase Ad Effectiveness
Your buyers are inundated with ads on the internet daily. So much so that we as consumers have learned to tune them out to an extent. Sidebar, banner and other ads of this nature tend to just blend in now and are sort of white noise. Well, video helps cut through all of that noise and grab the attention of your prospects.
According to DreamGrow, the average click-through-rate of video ads is 1.84%. Out of all the digital ad formats, video has the highest CTR. They go on to note that for a 15-second non-skippable YouTube video, the ad completion rate is 92%.
Looking to get a little SEO juice behind your content? Another benefit of video marketing is the lift it can give to your SEO (search engine optimization) efforts. How? Well, one of the things that Google factors in when it comes to search result rankings is time spent on the site. Are you providing what the visitors are looking for? Video is a great way to engage visitors and provide them with the information they need. So when they spend time watching your videos, Google interprets that as you providing the information the visitor is seeking, which can ultimately move you up in search result rankings.
This might all sound well and fine, but we know what you’re thinking…. “Show me the money!” Or the stats in this case:
- 73% of B2B marketers say video positively impacts their ROI. (Tubular Insights)
- 52% of marketers say video is the type of content with the best ROI. (HubSpot)
- 89% of video marketers say video gives them a good ROI and 80% of video marketers say video has directly helped increase sales. (Wyzowl)
- 83% of those using video believe they get a good ROI from it with 82% believing it’s a key part of their strategy (Smart Insights)
- The global software company Zycus saw a 6.6x ROI on campaigns using Vidyard (Vidyard)
When measuring the ROI of video, you’ll want to monitor performance right away, based on metrics you’ve determined are relevant to your overall goals. Metrics like views, engagement, conversion rate, social shares, total cost, and whatever other metrics are important to you.
Related Reading: How and Why to Incorporate Sales Videos into Your Selling Process
Now that you know all the benefits of video marketing, what’s stopping you from incorporating it into your strategy? Maybe you’re camera shy, not sure what type of content to create, or it could be that you don’t know what the best tool is to create quality, worth watching videos. We can help with that. As a Vidyard Partner, we’re here to help you turbocharge your growth engine with video for sales and marketing.
Book a free 15-minute strategy session with a Lake One Video expert.