2020 has been a great year for video marketing in B2B. New research from Vidyard and Demand Metric revealed that 83% of survey respondents reported that video content has become very important to their organization, with 94% revealing that it increases conversion rates about the same as or better than other content forms.
Vidyard’s The State of Video 2020 Edition highlights how video has impacted B2B sales and prospecting initiatives throughout the pandemic, and how a “video-first” approach has increased response rates by 200%. The report also details how personalization strategies have made video content resonate with buyers more, while increasing the quality of sales professional training programs.
“We’ve seen 10 years of digital transformation occur in 10 months,” said Michael Litt, CEO and Co-founder of Vidyard, in a statement. “The pandemic may have been a forcing function, but what’s clear is that video in business is here to stay. Video has become an essential tool for every organization. We’ve seen behavior and cultural attitudes toward remote work and using video change just as quickly.”
On the flip side, the 427 sales professionals who participated in the report also cited challenges with measuring video content impact and ROI, producing videos that engage target buyers, allocating time and resources for video production and having a video creation strategy. Despite this, only 10% of respondents were not satisfied with their video content and strategies.
Additional takeaways from the report include:
- The number of respondents using video in sales conversations has increased by 93%;
- 90% of sales professionals use video viewing data to qualify leads, influence deals and engage prospects;
- Video remains an important content format for 76% of B2B organizations in 2020; and
- 48% stated that the ROI from video content has grown in 2020, compared to 28% in 2018.
