Recently we read about video marketing success in a report that was published in June 2014 entitled “B2B Video Marketing: B2B Benchmarks and Best Practices.”
This report was produced by Demand Metric Research Corporation in partnership with Ascend2, and it was sponsored by VidYard. The report was a study in which 398 marketing sales and business professionals worldwide were polled regarding their use and video marketing successes with B2B videos. And all of the respondents had either used video for BtoB marketing or were planning to.
There were a number of interesting findings in the study.
One included what the respondents felt were the obstacles to video marketing success. We were dismayed (but not surprised) to read that 47% of the people responding to the survey cited a lack of budget for their video has an obstacle. Fully another 45% indicated a lack of in-house resources or a problem.
I suspect strongly that these two categories are both largely the same respondents to the survey.
Creating compelling content was another major factor users said was another obstacle to video marketing success. To us this merely underscores the fact that many of the people in the B2B marketing world do have an understanding of the need for Media Marketing, but do not have a strong comprehension of what it takes to create a successful video. In the remainder of the study, B2B marketers indicate strong understanding of the process. This indicates that they know how to what to do with the videos once they have been created. However it did not seem that many of them on grasped what was necessary to create those videos in the first place.
As a professional video production company, our job is to lower those barriers of entry to B2B marketers who realize the need for good strong videos.
Obviously if they do not understand how to get them created efficiently and effectively, they are not going to continue with the video production process. The plain truth of the matter is that many videos are not very expensive to make and instead can be produced at a price that’s returns a great ROI. Many videos such as this one below have in the relatively simple production cycle and do not require extensive (if any) use of video cameras and the recording of video and audio on location or in the studio.
As you can see in this video we have not used a video camera to create the visual images necessary to communicate, yet it is a video marketing success. Instead we use the video editing process to merge graphics, narration and music. We also have the ability to use stock footage in video production as well, also avoiding the need to hire a camera and crew.
The primary challenge begins with the lack of an effective media strategy before beginning the video.
And as it turns out this was the fourth greatest obstacle to video marketing success as defined in the study. In fact 33% of the B2B marketers realize that they lacked an effective strategy. This indicates some awareness of the problem, however a full 26% of the of people who responded suggested that producing studio quality video was also an obstacle to video marketing success as mentioned above. Studio quality video is NOT necessary in order to effectively communicate the message and of course this is particularly important when budgets are limited. So if we may be so humble we would like to suggest that you contact us at Penrose Productions so that we can discuss with you ways in which the video production process can be effective for you and maximize your ROI. Time after time we have seen that he budgets do not have to be nearly as high as you fear.