Video, a powerful tool in the storytelling arsenal, has become more important in the last two years, according to 83% of marketers.83% of marketers say #videos have become more important in the last two years to their brands, according to @CMIContent @Vidyard #research via @LisaBeets. Click To Tweet
But that one statistic doesn’t mean you should go all-in on video and ignore other tactics or that videos deliver great results. To see the bigger picture on video, read on for six more things you should know.
1. Audiences don’t necessarily prefer videos over other content types
Almost half of marketers (46%) say their key audience consumes videos but it doesn’t seem to be the preferred format and 3% say their audience prefers other content types. However, 29% say their audience seems to prefer video.
While an important part of the content marketing mix, videos are not the end all be all. Like most things, video’s importance for your key audience “depends” on who they are or why they want to consume the content. Some audiences prefer written content such as white papers for educational purposes, while others prefer video to see a product or solution in action or to be entertained.
Some degree of investment in video is prudent. The trick is to determine the right investment level based on the characteristics of your existing and desired audiences.
2. Two-thirds expect their video budget to grow but not enough in 2022
Sixty percent of marketers surveyed expect their video budget to increase in 2022 compared to 2021. Still, 69% say their organization needs to invest more in the format, showing marketers believe in the power of video.
The response on video budgets is similar to what we found in our broader B2B Content Marketing Benchmarks, Budgets, and Trends: Insight for 2022 report: 69% of B2B marketers expect to invest in video in 2022, making it the top budget are followed by events (61%), owned-media assets (57%), and paid media (55%).
In addition, 66% of B2B marketers in that study created or used videos in the last 12 months, making it the second most popular content type (short articles/posts topped the list.)
3. There is work to be done to get better results
Only 17% of marketers in the video survey say their organization is getting excellent results from the tactic. Seventy-one percent report average results, and 12% say they see below-average results.71% of marketers say they see average results from their #videos, according to @CMIContent @Vidyard #research via @LisaBeets. Click To Tweet
Furthermore, 48% say their brand doesn’t use existing video to its potential.
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These results indicate marketers who aren’t seeing the full benefit of videos may not have successfully incorporated the format into their content marketing strategy. Follow this strategic checklist to help your video marketing succeed:
- Set clear goals for each video that tie to your audience and your organization.
- Build video structure
- Create and follow video production plans and guidelines.
- Develop a distribution plan.
- Establish a measurement plan to evaluate success.
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4. Videos with influencers or SMEs produce the best results
Almost half (49%) of marketers say interviews with influencers/subject matter experts produced the best video results. Following close behind are how-to, case studies/customer stories (48% each), and branded stories (47%).#Videos with influencers or subject matter experts deliver the best results for marketers, according to @CMIContent @Vidyard #research via @LisaBeets. Click To Tweet
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People buy from organizations they trust. When people can see, hear, and learn from influencers or knowledgeable people who work in your company, it makes your brand more relatable and credible. Similarly, when people known in your industry speak well of your brand, it lends credibility.
5. Most marketers produce videos in-house
Fifty-five percent of surveyed marketers say they mostly produce videos in-house, whereas 19% say they mostly outsource. Twenty-six percent say it’s about 50/50.
Is it better to produce videos in-house or outsource? The verdict depends on your brand, audience, goals, team’s expertise, and budget. Does the video require high-value production or can you make do with an iPhone? Will most of the audience view the video on a small or large screen? Do you have the resources on staff to adequately fulfill the goals?
Many tools on the market make it easier to create and edit videos in-house – some are free. Regardless of what tools you select, you’ll need an in-house resource(s) to manage your video projects. Some brands prefer to work with agencies because they have the expertise or the in-house marketing team doesn’t have the time.
6. Video production is about people
No matter which route you take, video production is largely about people. We asked: What are your organization’s most valued tools for video production? Among the free-form responses, marketers mention things like Adobe products and quality cameras, lighting, etc.
However, many others told us that in addition to more time and money, their wish lists involved human resources: “Employee talent.” “Our people.” “A solid production team that can take stories from A to Z.”
“Input from our internal subject matter experts about technical concepts and/or issues that affect our customers and community, so that we have a knowledge base to draw upon for video projects.”
Those findings connect well with what Robert Rose, CMI’s chief strategy advisor, says: “Anyone can create a video … simply creating videos isn’t a differentiating factor.
“The power of video has nothing to do with technology. It has everything to do with the content and creativity in the video. This is your secret ingredient. Treat digital video strategy as a content strategy. Build it to amplify and optimize your big ideas to create the iconic images of tomorrow.”The power of #video has everything to do with the #content and creativity in the video and nothing to do with technology, says @Robert_Rose via @CMIContent @Vidyard. #Research Click To Tweet
In other words, be willing to experiment to get the most out of this powerful way to communicate with your audience.
To learn more, read the detailed report on video marketing, which contains other insights such as:
- Where organizations house their videos
- Percentage of videos created for each stage of the buyer’s journey
- Percentage of videos that viewers watch
- How organizations measure video success
- How much organizations spend on video creation
- Portion of content marketing budget spent on video creation
Cover image by Joseph Kalinowski/Content Marketing Institute