A survey was recently released by Web Video Marketing on the latest trends of video marketing. It includes some interesting results based on responses from over 350 business and marketing professionals. The survey explores B2B companies and their interaction with video.
Wooshii has compiled some highlights from the survey. Having looked at the results, we will consider their implications and what is in store for video in future.
Not surprisingly, video has become a fundamental part of content marketing for marketing teams. 96% of B2B organisations are engaging with video in their campaigns.
Largely due to the mass consumer move towards the mobile platform, video has exploded onto the market as one of the main ways to communicate with consumers. Moreover, 73% of all the companies stated positive marketing results due to video. Over half of the business leaders surveyed also said that an increase in sales thanks to video had been recorded.
Companies are also increasing the scale of their video marketing campaigns. 56% of companies are planning to produce over 10 videos next year, with 10% aiming for 101+.
This being said, the survey also revealed some of the struggles and limitations faced by companies using (or thinking about using) video as part of their online marketing. At 44%, the most common challenge is measuring ROI (return on investment). Although you can measure, for example, the amount of clicks, views and time spent on videos, companies are finding it hard to find a way to record tangible ROI results.
Other common challenges include limited in-house video marketing expertise, staying current with the fast-paced video marketing trends and a lack of quality and creativity.
In terms of the budgets of the teams surveyed, a surprising amount of companies do not factor video specifically into their budgets. Of those who do, 45% have budgets of under $25K. The budget of 43% of all those surveyed will be staying the same for next year, compared with 41% who think it is worth bumping up their video marketing budget.
The conclusion that Web Video Marketing came to was that companies are struggling to justify investing more into video marketing ‘due to the inability to accurately measure ROI.’ They go on to say that ‘this will likely change as more companies begin using video in focused, measurable ways to improve lead generation and sales engagement.’
Regardless of whether companies can physically measure the results, video is becoming more and more integral to marketing campaigns. It is not a case of whether companies will start using video; pretty much everyone has already made headway with video. Rather, the scale of companies’ engagement with video will expand. Provided that there is a way of measuring the success of video, the next few years will see companies expand their video output in order to increase sales and promote customer interaction.