The pivot to video by the numbers – and what B2B marketers need to do next
Our Infographic of the Week shows just how important online video has become to all marketing strategies
June 27, 2018
As marketers, we’ve quickly become familiar with the concept of the ‘pivot to video.’ So much so, in fact, that it can be easy to lose sight of just how staggering the numbers involved are. A new infographic from the Irish video production company, One Productions, provides a timely reminder. It doesn’t just show the exponential increase in the volume of video and engagement that it generates – it also shows how varied and flexible a role it should now be playing in marketing strategies, for both consumer and B2B brands.
Even as someone who’s been very close to the rapid rise of B2B video on LinkedIn, I was surprised at just how quickly things are changing. Did you know, for example, that 80% of consumer internet traffic in 2019 will involve watching online video? That video ad revenue is increasing at a compound growth rate more than three times that of non-video online display advertising? Or that video ads have the highest click-through rate of all digital ad formats?
Just as significantly for B2B marketers is the evidence in this infographic of how video increasingly influences the different stages of purchase decisions. It’s striking, for example, that two out of three people say that video is their preferred format for learning about a product or service – and that three out of four say they’ve been convinced to buy a product or service by watching a video. We’re used to thinking of video as inspiring or entertaining in the upper stages of the funnel (and there’s data in the One Productions infographic to back this up as well). However, it’s these insights about video informing and prompting purchase that really stick with me. Interestingly enough, more people share video content that they find informative than share video content that they find inspiring.
Another significant finding is that, just as with other forms of thought leadership, video won’t automatically move your audience’s perceptions of your brand or products in a positive direction. It all comes down to the quality of the video content that you put out there. Seven out of ten people say they view brands in a more positive light after watching interesting video content from them – but almost as many (three out of five) say they’ve been put off buying something by watching a bad explainer video about it. The lack of a clear explanation of the product or service was cited as a reason by 37%, ahead of low quality (25%) and the video being too long (21%).
Back in the day when video meant TV ads, the investment made in buying a 30-second slot was seen as evidence in itself that a brand was credible and trustworthy. That formula no longer applies – but this infographic suggests there’s another one at work where online video is concerned. Brands that invest in creating quality video content (high-definition, tightly edited, with sound production values and something genuinely interesting to say) will increasingly stand out. The pivot to video has involved a big increase in the volume of video being shared – but it’s the pivot to quality video content that has most value to add for B2B marketing strategies.
Ready to get started with B2B video marketing on LinkedIn? Our Beta programme has surfaced nine key insights to hone your approach and ensure you’re delivering the right impression at different stages of the buyer journey.