What is the ROI on B2B Marketing Videos?
What is the ROI on your videos? This isn’t as simple of a question as you might think. And below we have laid out a framework to help guide your thinking. There’s two facts to consider as you get started deciding on the potential value of videos for your business:
Every modern business needs videos. Increasingly people consume videos to inform business decisions. This means every major partner related to your business is expecting video content. Investors, advisors, prospective clients, current clients, new hires, current employees, and more all learn about your vision, your products, and your culture through video (customer story videos, explainer videos, product demos, etc.).
Videos also have a very powerful feature: they are an inexhaustible resource. They scale the human element of your business unlike anything else. You and your team spend thousands of hours pitching your company to key partners (whether your sales team talking to new clients, or your recruiting team hiring new employees or otherwise). A video on the other hand can be shared instantly as a link to any number of people. This means that well-made videos are incredibly effective tools for growth. A video, unlike labor, is an inexhaustible resource. It can be shared and viewed an infinite number of times.
So, the potential for videos is high in achieving your business goals. The key is figuring out the kinds of videos and the specific narratives that will move the needle for your business. Once you have that figured out, your videos become like a good sales team or recruiting team. It can close deals and drive growth.
Here’s what the experts are saying about the effectiveness of videos:
87% of video marketers are satisfied with the ROI of their video marketing efforts on social media (HubSpot)
Video placed on the landing page improves conversion by 86% compared to text pages only (Wishpond)
71% of B2B companies report video as a critical part of their content strategy (Bullseye Strategy)
94% of people cite watching explainer videos as their method to learn more about a product (Bullseye Strategy)
Users are 27.4 times more likely to click on a video ad than a static banner ad (Bullseye Strategy)
95% of viewers remember the message from a video, compared to 10% when reading text (Insivia)
Marketing lead costs drop by 19% for businesses who use online video marketing (Aberdeen Strategy and Research)
The average person watches 19 hours of online videos per week (WyzOwl)
97% of marketers claim that videos help customers understand products (HubSpot)
In conclusion, it’s complicated understanding the full effect videos can have, but one thing is certain: there is immense potential for companies with a growth-mindset. Videos are the scalable marketing solution.
Interested in working with Elemmir’s world-class filmmakers to produce videos? Get in touch.
