CMOs Embrace Video Marketing In a Big Way
The popularity of video-based content for marketing purposes seems to be on the rise. In a recent global survey conducted by Regalix, a digital marketing company, it was found that as much as 94% marketers believe that video marketing is an effective sales and marketing tactic.
The most popular video types used by B2B marketers in their marketing mix were found to be corporate videos (77%), product demos (71%) and webinars (69%). However, the effectiveness and usage of video types differs from one stage of the buyer’s purchase cycle to the other:
Among the primary factors driving video marketing, the survey found that the topmost objective for B2B Marketers is creation of brand awareness, as reported by 83% of respondents. This is followed by triggering customer engagement (77%) and building credibility and trust (71%) as the goals pursued by marketers with respect to video marketing.
Vikas Sharan, CEO, Regalix “Video marketing has grown rapidly in the past few years and 2014 will experience a dramatic upsurge. With video being a great visual tool coupled with new technologies and practices will definitely help companies and brand in a positive way.”
Regalix surveyed some of the top marketing executives and professionals to understand the current trends in video marketing and measurement, designed to help B2B marketers enhance the effectiveness of video marketing.
Some key findings of the report include:
- 78% of marketers engage in video marketing
- 94% marketers believe that video marketing is an effective sales and marketing tactic
- 84% of marketers reported an increasing demand for videos and other visually rich marketing material
- 77% marketers claimed that their customers prefer visually rich marketing material over static/text-based material
- 50% marketers allocate 10 to 25% of their creative budget towards video marketing
- 83% marketers use video marketing for branding or to increase awareness around their brand
- 94% marketers use tactics to enhance discoverability and shareability of their videos
The survey, which demonstrated that B2B marketers are now embracing video marketing in a big way, stated that 77% of respondents reported that their customers prefer visually rich marketing material over static or text-based material. In fact, as many as 85% of the survey respondents also reported using number of video views as the top most metric used to analyze branding campaigns’ performance. Views were followed by click rates and Google analytics event tracking (registrations) as a leading metric for analyzing video engagement and overall performance; as reported by 62% of the survey respondents.
However, the marketers also encounter several challenges in using video-based marketing:
- Difficulty in measurement of ROI was cited by 73% of respondents as the biggest challenge faced by them in execution of video marketing.
- The second biggest challenge preventing video marketing success was found to be lack of budgets for video production and distribution, according to 73% of survey respondents.
- Other challenges include lack of in-house expertise in video scripting and production, difficulty in converting viewers into buyers etc.
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