It’s no secret that B2B video marketing is gaining momentum for manufacturers. People are watching more video online than ever before – in fact the amount of online video they watch has almost doubled since 2018, according to HubSpot.
Why such dramatic growth? Here are a handful of our favorite stats from Wyzowl's eighth annual State of Video Marketing Survey. Through the lens of the B2B marketer:
- 94% of marketers say video has helped them increase understanding of product or service.
- 86% of marketers say video has helped them generate leads.
- 81% of marketers say video has helped them directly increase sales.
And through the lens of the customer: 88% of respondents said that they have been convinced to buy a product or service by watching a brand’s video.
The preference for video vs. other forms of content was not even close. Asked how they’d most like to learn about a product or service:
- 73% said they’d prefer to watch a short video
- 11% would rather read a text-based article, website or post
- 4% would like to view an infographic
- 3% would rather download an ebook or manual
- 3% prefer to attend a webinar or pitch
- 3% would like a sales call or demo
So what does this mean for industrial marketers? The most obvious takeaway from the data is that we should all be finding ways to include video marketing in our integrated strategies and tactics. We should be building video into our routines so that it becomes muscle memory – we’d instinctively plan for it, dedicate resources, and have a regular cadence of production.
Why Is B2B Video Marketing So Powerful for Manufacturers?
The primary reason video is so powerful with people in general, and manufacturing prospects and buyers in particular, is that it allows you to make an emotional connection, such as building credibility, likeability and trust. Those are all important in the increasingly complex industrial buying journey. Videos also can be memorable, especially when combined with effective audio, and can improve brand recall.
Videos are growing in their adoption in marketing for manufacturers primarily for two reasons:
- We are visual learners: This is especially true among engineers doing product research. They want to see how something works or if a machine is likely to fit in their existing shop space.
- Prospects engage more: They are more likely to share a video with someone in their buying committee. They will stay on a website longer.
But the key factor, and we cannot emphasize this enough, is that if your video is well done, the prospect or customer will remember it.
Videos Come in Many Varieties Because They All Can Work
A good B2B video marketing service provider will help you build a strategy based on your company’s objectives. You can build a video strategy around content and distribution for different personas and stages in the buying journey. You can do a product demonstration video. You can do a video that outlines a typical ROI. You can also do a video of a customer providing a testimonial about how your company solved a pain point for them. Those three videos may be viewed by three different members of a buying committee.
You also should take into account the platform; a video for social should generally be under 30 seconds versus a video on a Youtube channel that could be two minutes or even much longer, depending upon many factors.
Video does not have to be highly produced (though memorable videos resonate; so investing in a professional video marketing service might be worth it). B2B video marketing statistics also show that stakeholders will consume multiple formats of marketing videos. Having an expert narrate a video about resolving a customer's pain point while you show a rotating 3D image of a part or CAD drawing could be a highly effective video.
Video platform Vimeo describes these as the six most popular B2B video types:
- Product descriptions or demonstrations
- Explainer videos
- Customer testimonials
Customer Experience Is Key for B2B Video Marketing
Many manufacturers face marketing challenges because they service such a small base of potential high-value customers. This has led to an increase in the recent adoption of account based-marketing (ABM), in which marketers tailor campaigns to that company and specific stakeholders. ABM relies on the ability to engage with stakeholders and then convert opportunities in sales.
These high-end sales are based on relationships as opposed to simple transactions. How does this person or brand make you feel? Are you eager to return a call from them or respond to an email? It probably depends on your past experience. A good ABM strategy will take advantage of the higher reach, effectiveness, engagement, and ROI from video.
ABX is the next evolution of ABM, though not everyone appears to agree on whether the X stands for engagement or experience. For a great recap of account-based experience, check out this Industrial Strength Marketing podcast with Jon Miller, CMO of Demandbase. The stickiness of B2B video marketing is key to the customer experience.
Talk to Us for Help With Your B2B Video Marketing Strategy
Manufacturing marketing videos can create a bond with your prospect or customer, but they also can push them closer to purchase. Video does not have to be complicated. Visit our B2B video marketing services page to learn how we can help you plan, launch — and measure — your video program.
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