Mobile video ad revenue is expected to exceed $4.4 billion in 2018 in the U.S. By 2019, video will likely account for 80 percent of all Internet traffic.
Video offers marketers a great opportunity to connect with audiences and to drive conversions. According to Demand Metric, 74 percent of B2B marketers reported that video content was more effective than other content to drive conversions. Betts Recruiting, a company that sells inside sales services to B2B clients, uses video in emails to help reach millennials, who are more likely to watch a one-minute video than read a long email or download an e-book. So it should come as no surprise that according to a Content Marketing Institute report, 72 percent of content creators report that creating more engaging content is a priority this year.
According to the Web Video Marketing Council, 96 percent of B2B marketers use video content marketing, and 73 percent revealed that video has given their marketing results a boost. In this competitive landscape, marketers should create an effective video strategy to ensure success. There are several steps you can take to ensure that your video is making an impact. First and foremost, make sure that your video strategy is current. This means thinking beyond a YouTube or homepage video. Successful marketers use videos throughout the customer journey from brand awareness to transactions.
B2B marketers should consider the goal of the video and craft a launch strategy. If the goal is to attract a lead to your site, then a promo for your brand could be effective. If the campaign goal is to convert a client already on your site, then a testimonial video would be effective. Consider a personal greeting video or a customized product demo, which can help drive and finalize the transaction. With this in mind, it helps to have a strong analytics and reporting system in play and to measure based on the goal. If an awareness video is not leading to conversions, but is driving web traffic then it could be considered successful.
As you prepare to create a video program, be sure to set a realistic budget. If you try to cut corners and spend time negotiating with vendors over price points, you may lose their focus on the creative at hand. Being transparent at the beginning can help your suppliers maximize the budget and deliver the best video your budget can afford. This may require buy-in from key executives at your firm. But remember that quality is key when arguing your case for a budget.
Another way to prepare for the strategy is to establish basic system requirements. Don’t get caught up in the latest interactive features if they are only going to crash your server. There is nothing more disappointing to a prospect than a spinning ‘rainbow wheel’ or a crashed site, so ensure that your infrastructure is in place and that you are working with your IT team to make video launches go smoothly.
As you create the videos it’s important to have a deep understanding of both your audience and your product. These elements will help you clearly communicate your story to the right customer. Make sure that the strategy appeals to your audience and clearly and quickly communicates how your company’s product can help solve pain points. You may even consider creating a system for audience feedback, which can help you hear what is working and what isn’t, to help inform your ongoing marketing programs.
Video is clearly on the rise, and a good strategy can help your B2B firm tackle this new opportunity.