Consumers are spending more and more of their time watching videos, and the trend is only going to grow. It is estimated that an average person will spend 100 minutes of their day watching videos in 2021.
More and more businesses use video as a marketing tool, and for good reasons. If you want to learn more about using video in your organization, keep reading and watch our on-demand webinar, “The New Era of Customer Video Engagement”.
The benefits of using video in marketing
Video marketing has an incredible ROI.
Product videos increase sales by 144%, which is not surprising given that 62% of people said they were more interested in buying a product after seeing it in a Facebook Story. In general, brands that used video actively in their campaigns got 66% more qualified leads compared to brands that didn’t use video.
Lastly, it is interesting to mention that brands that used video in 2019 saw a 54% increase in brand awareness.
It is hard to doubt the effectiveness of the use of video in marketing when faced with such statistics. With the changing trends in how consumers use video, and how businesses are approaching it, the market for customer video engagement solutions har changed significantly.
The evolution of the enterprise video market
The enterprise video market has undergone a complete makeover in the past 20 years. Things like studio broadcasting, video training, mobile webcasting, and user-generated content all used to happen in silos before video content management systems (VCM) took over roughly 10 years ago.
However, businesses are exploring new options, such as Video as a Service solution (VaaS) due to the growing consumption of video and a demand for higher quality videos. VaaS solutions allow you to create content from any location and deliver it within native applications and mobile devices.
A big reason for these changes is how video creation has evolved in the last years.
The democratization of customer video
Thanks to high-quality cameras that most modern smartphones have, it has become increasingly simple to create and use video for marketing purposes. Gone are the days where one needed to invest in expensive video equipment that came with think user manuals and suffer through long lead times for video content.
Today, anyone can pick up a phone and create something on the spot, which eliminates the need for video production specialists and third-party agencies. This change has brought the power of video back to the people who manage and cultivate customer relationships – sales reps, marketing managers, channel managers, etc.
The ease of video making has also made it an integral part of so many social platforms where almost all have native video in short-form format. However, many marketers feel overwhelmed when it comes to creating a video. There are many possibilities and ways to create a video and perhaps just as many channels to distribute it to.
A need for better video management tools
More than half of consumers want to see more brand videos, according to Hubspot, but they are not interested in yesterday’s news. Viewers want customized, relevant videos or they will stop watching.
Their attention span is quite small. In fact, more than one-third of viewers will stop watching a video after only 30 seconds. This means new content needs to be produced fast.
Companies that want to put out good-quality content on a regular basis are in need of a video management tool that can:
- Support larger files for better video quality.
- Deliver the videos to viewers in the best way in terms of video conversion, transcoding, and streaming protocols. You want to be able to publish the content in an easy and quick way to any website of your choice.
- Have optimized search functionality for internal use as well as central administration and organization of playlists or rich branded video sites.
- Track analytics and provide specific viewer information, such as viewership and response rates, to support lead generation activities.
The ability to work with video quickly and effectively is especially important. Marketers or any other customer relationship owners should be able to find relevant content, put together a video, easily add brand-related customizations, and upload it to any platform of their choice.
If you want to learn more about using video in your organization, watch our on-demand webinar, “The New Era of Customer Video Engagement” with Wainhouse Research Senior Analyst, Steve Vonder Haar, and Sherpa Digital Media CEO, Steve Pattison.