Annual State of Video Report additionally reveals the usage of video in gross sales and buyer conversations jumped 93%, with ROI steadily bettering yr over yr
KITCHENER,Ontario – December 14, 2020 – With the pressured shift to distant work this yr, 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 yr over yr, in keeping with The State of Video Report – 2020 Version launched at the moment by Vidyard and Demand Metric, now in its seventh yr.
“We’ve seen 10 years of digital transformation happen in 10 months. The pandemic could 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 change into a vital software for each group. We’ve seen habits 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% yr over yr. As well as, practically half of the respondents (48%) stated that the ROI they have been getting from video was rising (vs. solely 28% in 2018).
For the reason that begin of the COVID-19 pandemic, companies have acknowledged the necessity to spend money on video content material with a view 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 employees don’t wish to ever return to the workplace. As such, corporations have turned to video, each synchronous (corresponding to Zoom Video Communications) and asynchronous (corresponding to 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 trying shiny: 83% of respondents report that video is changing into a extra vital type of content material to their group.
- Video stays a prime performer for driving conversions: Nearly all research respondents (94%) report that video converts the identical or higher than another content material kind.
- The usage of video has proliferated previously yr: The share of respondents who report their firm creates greater than 51 movies every year elevated by 254% in 2020.
- Video viewing knowledge is an important 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 crew: Break down the silos inside your organization and enhance communication between departments that use video. Set up a cross-functional video enablement crew that may collect insights into what different departments should be profitable with video and determine course of enchancment alternatives.
- Put money into a scalable video resolution: 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 observe their outcomes and leverage video viewing knowledge successfully, they achieve vital 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 totally different video sorts: Firms that wish to get essentially the most out of their video funding should proceed experimenting with totally different codecs. As new forms of movies change into out there, check them on a restricted scale, overview 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 means 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 /free-screen-record/.
Extra Data:
About Vidyard
Vidyard helps companies and professionals join with their audiences in a complete new method by means of participating, customized, and measurable video experiences. By its world video internet hosting and analytics platform, Vidyard empowers companies like LinkedIn, Zycus, League, Stanley Black & Decker, and others to remodel 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 method. Hundreds of companies and tens of millions of individuals all over the world depend on Vidyard for his or her video wants. Join Vidyard without cost: /free-screen-record
Media Contact:
Sandy Pell, Head of Company Communications, Vidyard, press@vidyard.com
