Where Is Your Video Strategy?

Re-reading benchmark reports from the Content Marketing Institute, I noticed larger shifts towards audio and video than in previous years. According to the most recent study, 64% of B2B marketers have increased their use of audio/video content compared to a year ago. That is huge. The casualty of this swing? Print (a 17% drop). Not a shocker.

Video creates a richer and more persuasive experience

In Altimeter’s 2018 State of Content Report, 68% of online consumers say they prefer video over written content. And video was ranked as the top-performing format.

Done right, video is a powerful lever to deliver your content strategy as it enhances touchpoints, engages audience and drives behavior. Think of the audience needs it solves throughout their experience:

• Discovery of your content across touchpoint experiences since it attracts audiences based on their intent
• Consumption of your content to create more immersive and authentic interactions with touchpoint experiences based on audience needs
• Action as a result of your content, due to the format’s proven persuasiveness

The expansion of video

I spoke to Tyler Lessard, VP Marketing at Vidyard, a platform that helps organizations track and measure video performance. The company’s 2019 Video in Business Benchmark Report found increased volume (83%) of videos being produced by B2B companies of all sizes – an average of one per day. The other surprise to me was by whom. An average of 510 videos are created per year for companies as small as 31-200 employees. Interestingly, Lessard recognizes a growing prominence of video within marketing activities, but he also sees it increasingly a part of both sales and customer care. While web and social are the biggest video distribution channels, recorded webinars and sales conversations had fresh spikes. What you can also infer, Lessard, notes, is that production style can vary. “Marketing videos tend to be highly-produced, but in sales, they’re often more humanized and even produced with a desktop app or iPhone.” 

Cost diminishes a barrier

The content planning and upfront investment for video is different from other content formats, so many marketers pause — despite the return. "Video can be costly on a marketing budget, but the great thing today is you can absolutely find a producer to fit your budget," says Tony Gnau, Founder and Chief Storytelling Officer (and an Emmy Award winner) at T60 Productions. He’s written about lower cost video production. The biggest variable in production costs is usually time. "If you can cut down on the amount of time it will take to shoot and edit, you can save yourself some money,” notes Gnau. Depending on the size of the production company, you might find ranges from $5,000 a video to more than $50,000. “However, many companies, Gnau says, “have low-cost options where you can get a series of short videos for as low as $1,000 per video." 

6 types of video content for sales and engagement

You know you should be doing more video, but where? Beyond commercials, case studies, demos and some obvious use cases, here are a six types:

1. Own your About Us page: In my own research, more than 70% of companies put their values online, but only 18% are using video to tell their story. Your “About” section is where people decide if they want to do business with you, if they want to work for, and with you. Gnau believes that "the one video every company needs is the first impression video.” As part of its brand re-launch, Dupont recently put a film on its site that is dynamic and contextual, slightly personalized based on your location and device you’re using. The brand talks about itself, but tries to make it relevant to you.
2. Unlock emotional engagement: Movers+Shakers is a niche video studio who's breaking engagement records. I spoke to founder Evan Horowitz who said: “Our videos take the viewer on an emotional journey. That's why we're able to get 2 minutes or longer average watch time on ‘skip after 5 second’ video ads. We look for the emotions in the brand promise, and we build the creative so the viewer experiences those emotions — and connects them with the brand."
3. Teach on YouTube: Google claims education and learning videos earn 4X the watch time of animal videos on the platform today. What can you teach your customers? 
4. Provide an experience: AR in Video is just really starting. Digiday reports Google driving more AR-like MAC cosmetics on Youtube. 
5. Generate sales leads: Embed video within your emails or newsletters now and then, and I bet you’ll see performance improvements. One story: A sales representative at Dynamic Signal used Vidyard’s GoVideo, a personal video solution, in her emails to multiply her monthly meetings booked 5X.
6. Promote non-video content: That’s right, video can drive other formats. For example, a video segment summarizing your latest thought leadership and white paper downloads, or your podcast series (I should do a video to promote this column).

What goes into a video strategy:

Your video strategy should fit into your overall content marketing strategy. Foundational components would likely include: 

• Audience needs: Start with an understanding of how your customers and stakeholders consume content, including text, audio and video
• Clear objectives: Assert what do you want it to do, what its role(s) in the customer journey might video play
• Channel design: Create content for the specific channel, factoring in size, sound, style and length to immerse audiences and potential share-ability
• Concept: You need a strong creative idea. This might be single-minded or an evergreen series with legs. 
• Governance: Design an operating model with the right skillsets, tools and, workflow, using the right mix of in-house and external resources. 
• Playbook: Build guidelines for how your company should deliver video in line with the brand 
• Measurement: Define success and what to track; how does it map back to sales success. Look for tools such as Vidyard to track across digital channels and better understand impact on sales and revenue.

I love video. I started my career in radio and TV commercials, but more and more, find podcasting and video content more substantial and meaningful. From grabbing attention to immersing folks in story to persuasiveness for the sale, the results in marketing effectiveness echo my affection. Find video's role your marketing mix. Share what you create. I’ll watch.