Annual State of Video Report additionally reveals the usage of video in gross sales and buyer conversations jumped 93%, with ROI steadily enhancing 12 months over 12 months
KITCHENER,Ontario – December 14, 2020 – With the pressured shift to distant work this 12 months, video content material went from a nice-to-have to a need-to-have software for corporations, a brand new analysis report reveals. The variety of respondents investing in asynchronous one-to-one video grew exponentially, from 7% in 2019 to 40% in 2020, representing a 471% enhance 12 months over 12 months, based on The State of Video Report – 2020 Version launched at the moment by Vidyard and Demand Metric, now in its seventh 12 months.
“We’ve seen 10 years of digital transformation happen in 10 months. The pandemic might have been a forcing perform, however what’s clear is that video in enterprise is right here to remain,” says Michael Litt, CEO and co-founder of Vidyard. “Video has turn into an important software for each group. We’ve seen conduct and cultural attitudes towards distant work and utilizing video change simply as shortly.”
Video for Gross sales Prospecting and Buyer Engagement Elevated by 93% Yr Over Yr
As digital promoting turned the norm, the report additionally reveals that the usage of video in gross sales and buyer conversations is on the rise. The share of respondents who report utilizing video for gross sales prospecting and buyer engagement elevated by 93% 12 months over 12 months. As well as, practically half of the respondents (48%) mentioned that the ROI they have been getting from video was rising (vs. solely 28% in 2018).
Because the begin of the COVID-19 pandemic, companies have acknowledged the necessity to put money into video content material so as to guarantee their long-term survival, with makes use of starting from collaboration with co-workers to gross sales calls. Regardless of promising information relating to vaccines, practically a 3rd of staff don’t need to ever return to the workplace. As such, corporations have turned to video, each synchronous (resembling Zoom Video Communications) and asynchronous (resembling Vidyard), to complement face-to-face interactions, attain their audience, and develop their enterprise.
The State of Video Report Key Findings embrace:
- The way forward for video is wanting brilliant: 83% of respondents report that video is turning into a extra essential type of content material to their group.
- Video stays a prime performer for driving conversions: Virtually all research respondents (94%) report that video converts the identical or higher than some other content material kind.
- Using video has proliferated previously 12 months: The share of respondents who report their firm creates greater than 51 movies every year elevated by 254% in 2020.
- Video viewing knowledge is a vital gross sales enablement software: Practically 90% of gross sales professionals report the significance of accessing video viewing knowledge to qualify leads, interact prospects, or affect offers.
- There’s a robust relationship between measurement and satisfaction with video: Manufacturers that use intermediate or superior video content material effectiveness measures report the very best ranges of satisfaction with video.
Making the Most Out of Your Video Funding
Given the skyrocketing enhance in video, Vidyard and Demand Metric recognized 4 steps each firm ought to take to maximise their funding in video:
- Align and educate your staff: Break down the silos inside your organization and enhance communication between departments that use video. Set up a cross-functional video enablement staff that may collect insights into what different departments must be profitable with video and establish course of enchancment alternatives.
- Put money into a scalable video answer: Video creation and internet hosting have by no means been extra reasonably priced. And whereas the prices of video proceed to lower YoY, the connection between investing in video and seeing ROI from video efforts stay unchanged.
- Leverage video viewing knowledge: When corporations monitor their outcomes and leverage video viewing knowledge successfully, they acquire essential insights into viewers and consumption. These insights assist gross sales reps prioritize follow-up and empower video creators to make much more impactful content material.
- Experiment with completely different video sorts: Corporations that need to get essentially the most out of their video funding should proceed experimenting with completely different codecs. As new kinds of movies turn into out there, take a look at them on a restricted scale, evaluation the outcomes, and double down on what’s working.
The outcomes of The State of Video Report have been based mostly on a survey of greater than 300 respondents in North America, administered on-line through the interval of October 21 by way of November 2, 2020.
Vidyard’s instruments for video creation, sharing, internet hosting, and monitoring are free for any group and enterprise skilled to make use of. Get began at the moment at https://www.vidyard.com/free-screen-record/.
Extra Data:
About Vidyard
Vidyard helps companies and professionals join with their audiences in an entire new manner by way of participating, personalised, and measurable video experiences. By its international video internet hosting and analytics platform, Vidyard empowers companies like LinkedIn, Zycus, League, Stanley Black & Decker, and others to rework their strategy to advertising and marketing, gross sales, and company communications. By its free and professional instruments, Vidyard helps any enterprise skilled create and share customized movies to ship their message in a extra private and impactful manner. 1000’s of companies and thousands and thousands of individuals around the globe depend on Vidyard for his or her video wants. Join Vidyard at no cost: https://www.vidyard.com/free-screen-record
Media Contact:
Sandy Pell, Head of Company Communications, Vidyard, press@vidyard.com
