Spending on B2B Marketing Videos on the Upswing

By John EganJuly 29, 2014

Coming soon to a computer screen near you: more B2B marketing videos.

In a new study by Vidyard and Demand Metric, 63 percent of B2B marketers said their spending on online videos would rise in the next year.

“Online video is a major part of B2B connections, in that video has the power to bring a brand to life. It enables businesses to talk to each other about who they are and what they have to offer,” according to video strategy and marketing company MWP, which cites FedEx and Cisco among the B2B marketers that excel at video.

Dennis Crupi, director of creative services at Agency Ingram Micro, will discuss the subject of online video during the upcoming LeadsCon New York. An overview of Crupi’s session indicates online video “has become one of the best resources for creating awareness and generating targeted leads.”

report released earlier this year by the Content Marketing Institute and MarketingProfs found that 63 percent of B2B marketers ranked video as an effective tool.

“People in general gravitate toward visual storytelling,” Liya Sharif, senior director of global marketing at Qualcomm, told eMarketer in 2013. “Video is an incredible way to tell a story for either a B2B or B2C brand.”

In a recent article on Entrepreneur.com, Liz Staplefoote of Visual.ly wrote that many of these B2B marketing videos will be showing up as paid or sponsored placements “to engage hard-to-reach business consumers” on Facebook, LinkedIn, Twitter and other social media networks.

“The days of free reach are over. If you don’t pay, your followers very likely won’t see anything you’re doing in the social realm,” Staplefoote wrote.

Another consideration: With the climb in mobile activity, marketing videos must be optimized for mobile devices.

Business users are consumers outside of work and expect the same types of integrated digital experiences that consumer brands like Coca-Cola and Red Bull offer,” Staplefoote wrote. “Your challenge is to create these digital experiences to fit the preferences and needs of your audience.”

Among other findings in the B2B marketing study from Vidyard and Demand Metric:

  • 45 percent of B2B marketers listed lead generation as the second most important video marketing objective for the upcoming year.
  • 67 percent of B2B marketers rated video marketing efforts as “somewhat successful.”
  • Nearly half of the survey participants said three factors — lack of budget, resources and compelling content — are on par with each other as obstacles in achieving success in video marketing.
  • Of the B2B professionals participating in this study, 69 percent said they’d used video for B2B marketing.

To download complete results of the study, visit vidyard.com/blog/b2b-video-marketing-benchmark-report.

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