Almost 9 in 10 marketing, sales and business professionals surveyed around the world say that video marketing’s effectiveness is on the rise, according to the latest report [download page] from Ascend2 and its Research Partners. The survey, fielded predominantly among B2B respondents (78% of the sample), finds just 15% reporting a lack of success achieving their objectives through video marketing.
The chief stumbling block to that success appears to be the lack of an effective strategy, per the study’s respondents. This is a fairly common complaint in these surveys, also noted as the top obstacle in lead generation success, although recent studies have found other top challenges confronting content marketing, SEO and marketing technology.
Notably, few respondents said that limited organizational buy-in is a top obstacle to video marketing success, per this latest study. This is likely the result of the success that marketers are finding with video, as detailed in numerous studies including MarketingCharts’ B2B Digital Marketing Insights Report.
One of the chief elements of an effective strategy, of course, is setting appropriate objectives. For respondents to the Ascend2 survey, increases in brand awareness (47%) and online engagement (45%) rank as the most important objectives of an effective video strategy, followed by improved customer education (43%).
Customer education may not be the top objective, but respondents seem to feel that educational videos work. When asked to cite their most effective video types used, respondents grouped three at the top:
- Customer testimonials (51%);
- Explainer/tutorial videos (50%); and
- Demonstration videos (49%).
By comparison, respondents are less enthusiastic about vlogs/video blogs (15%) and event videos (13%), which could be a function of the B2B skew in the sample or low usage of these types. (Or simply that they don’t work that well…)
As is sometimes the case in these surveys (and in life?), what’s most effective is also most difficult. Indeed, for the marketers surveyed by Ascend2, customer testimonial rank as the most difficult type of video content to create, closely followed by project reviews and case studies. Still, other effective video content types such as explainers and demo videos aren’t perceived to be as difficult, so perhaps those are better areas to target.
Marketers are turning to outside help in their video marketing content creation, per the results, as just 8% feel that in-house resources are by themselves most effective. Instead, 22% outsource to a specialist, while the majority (70%) feel that a combination of outsourced and in-house resources will produce the best quality work.
That’s not too surprising, considering that lack of production resources remains a relatively high constraint, as detailed in the survey results. Inadequate budgets are another obstacle, though that problem may soon ease: roughly 7 in 10 respondents said that their video marketing budget is increasing, either significantly (18%) or marginally (51%).
About the Data: The survey was conducted in Q3 2015. More than one-third (36%) of respondents came from companies with more than 500 employees, and another 18% are from companies with 50-500 employees.