About half (51%) of marketers and sales professionals (largely in B2B or B2B and B2C firms) have expressed satisfaction with their video efforts in 2020. Perhaps guided by this satisfaction as well as the potential benefits of a video strategy, the majority of the more than 300 professionals from varying company sizes surveyed for a report [download page] from Vidyard and Demand Metric reveal they are planning to maintain or increase their budgets for video creation.
Previous research shows that some 7 in 10 B2B marketers were intending to use video as part of their overall marketing strategy last year. Despite this current study’s findings of satisfaction with video efforts during the year, respondents do list several barriers to successfully leveraging video to achieve their business goals.
Although respondents claim the ROI they are getting from video is improving, the most cited obstacle has to do with measuring video impact or ROI (43%). That said, in regards to effectiveness metrics and their correlation with ROI, the survey found that those respondents who reported having intermediate/advanced metrics in place were more likely to say that their ROI was getting better (61%) than those with basic metrics (51%) or no metrics at all (30%).
Even still, measuring video impact is not the only barrier to successfully leveraging video.
Respondents also noted that allocating staff time and resources to video production (40%), producing videos that engage (36%), and producing professional quality videos that represent the brand well (36%), are key challenges.
Video Functionalities Being Used
Performance analytics rank high among the video functionalities being used in 2020. Indeed, video performance analytics (47%) and channel performance analytics (46%) were used by the largest portions of survey respondents.
Other respondents report using functions including in-video calls-to-action (42%), access control for private/secure content (35%), individual viewer engagement (29%) and video content personalization (29%).
However, only 17% say they were using synchronization of viewer engagement date to marketing automation or CRM as part of their video strategy. This corresponds with the relatively small share of respondents who have integrated their video viewing data and are either exploiting the data (13%) or have not exploited the data (20%).
Who’s Using Video Content?
By and large, marketing departments not only request video content the most (69%) but are also often the ones creating video (69%).
To a lesser extent, other teams within an organization are also requesting videos, with sales (43%) and the executive team (43%) being the next biggest requesters. That said, very few of these teams take part in creating the content themselves.
And, where is all this video content being hosted? About half (52%) of organizations host and manage their video content on a free platform, while about one-third (32%) do so on a business platform. The remaining 28% were unsure where this content is hosted.
For more video insights, the full report can be downloaded here.
About the Data: Results are based on a survey of 302 respondents, primarily in marketing and sales, 85% of whom are either mostly or entirely B2B (52%_ or split between B2B and B2C (33%).