Video marketing/coms is revolutionizing B2B marketing. Part 1
This is the first of two posts on Video Marketing & Communications (VM&C), in business-to-business. In this post, I’ll outline why VM&C should be a vital component in any B2B strategy, illustrated by a bit of background, some mind-blowing stats and of course, some videos….
In a second post, I’ll give my take on the impact this revolution has on the set-up, required skill-set and training in business organizations.
The Golden Era of Marketing & Communications
We’re in the Golden Era of Marketing today. So, what defines the start of the Golden Era? Well, in my view, it’s a set of five events taking place within a year or so, from 2006-2007.
First, the technical capability to have Internet everywhere (3G download speeds reached 10 mbit/s in 2007). Next, the first smartphone was launched in 2007 (the iPhone, of course). Third and fourth, Google acquired Youtube in 2006, and the same year saw the launch of a free and highly potent web analytics software, also courtesy of Google: Google Analytics (today, more than 75% of all websites have GA installed). Finally, the emergence of serious social media in B2B, as Linkedin reached 20 ml users in 2006 (today +350 ml).
Today, some experts like Michael Litt of Vidyard even predict that “the future of the internet is video” – which I don’t fully subscribe to. Music streaming is booming these years and online devices (AKA “the internet of everything”) clog up the bandwidth too. But Michael’s graphic is quite intuitive (slightly modified by me):
If you want some more proof to this allegation, you can chew on a couple of hard stats here:
- One minute video equals 1.8 Million Words! That’s more than 3000 webpages! (source: Forrester Research)
- 59% of all Execs would rather watch a video than read a text (Source: Forbes Insight)
- 75% of all Execs watch work related videos, every week (source: Forbes)
- 200% higher click-through rate in email marketing that includes videos (source: Forrester Marketing 2010)
- 65% of Execs who view a video click through to visit the website. 45% contacted a vendor after seeing an online video ad. (Source: Forbes Insight)
- 50% of Execs who viewed an online marketing video went on to make a purchase for their business. (Source: Forbes Insight)
- 16 minutes and 49 seconds, time spent on watching video ads, per month (Source: comScore)
A main driver has been YouTube, of course. The World’s largest TV-channel is also no. 2 in Search – and still free. No wonder that:
- More than 1 billion unique users visit YouTube each month
- Over 6 billion hours of video are watched each month on YouTube—that’s almost an hour for every person on Earth
- 100 hours of video are uploaded to YouTube every minute
- 80% of YouTube traffic comes from outside the US
- YouTube is localized in 61 countries and across 61 languages
- Mobile makes up almost 40% of YouTube’s global watch time
Let me give you a mind-blowing example of the power of this beast of a “Search & on-demand TV-channel” : One day, in a little town in Denmark, the MD of a small company called Fornæs Shipbreaking was called up by the The Costa Concordia Salvage Operation. They wanted to learn about the capabilities of Fornæs, as they were scanning the market for shipbreakers and stumpled upon Fornæs’ presentation video on Youtube.
“They liked the video, although they did not understand our language, and asked us if we’d be interested in breaking up Costa Concordia”, said the owner. What the caller had found was this video….
Irrespective of this example, you won’t get far if you shoot a video and simply upload it to YouTube. You have to promote your content and marketers talk about three types of media. First, your “owned media” which is basically your website. There, you need a real video CMS in your backend, in order to manage the distribution, create call-to-action buttons and collect stats. Next, you will probably need to pay third-party media to host your video, e.g. a well-visited media website in your industry. Third, “earned media” are the pet media, as they are free. Social media and general sharing by viewers are free eye-balls on your video clips. You need all three types of media, to reach your goals.
What kind of videos do you need?
In a Business-to-Business context, there are several opportunities to use video, to effectively reach your business goals. I’ve made a list here, drawing from my own work in the recent 10 years:
Want to launch a new product, effectively?
Don’t tell it, show it. Mix images with to-the-point take home messages. An example here.
Want to do effective corporate branding – beyond empty mission statements, catchy pay-offs and shiny brochures?
Present your colleagues – and what they do. They have all the credibility you need. An example here.
Want to increase brand awareness in a large target group for a tiny media budget?
Well, see if you can create a clip with “viral” qualities. Does not have to be funny, but it helps. But remember – humor is tricky, as cultural differences apply. An example here
Want to present or explain a complex piece of technology?
Use 3D visualization – it’s very powerful. An example here.
Want to present a process which is slow and difficult to grasp?
Use time-lapse videos – very effective. An example here.
Want to explain a complex procedure?
Protocols and manuals are nice to have. But video is so much more effective. An example here.
Want to get your sales messaging out fast, to an entire continent?
Pay for an interview and get it published fast. It’s more affordable than you think. An example here.
Still interested? In my second post about this topic, I’ll give you my take on the impact the Golden Era has on staffing, required skill-sets and training in business organizations. Thanks for now.
Permission for republishing this content was granted by the author Morten Baggesen. See the original article here.