New report from Vidyard reveals 83% year-over-year improve in video manufacturing and rising use of video analytics inside B2B advertising organizations
KITCHENER, Ontario – June 7, 2018 – Vidyard, the main video platform for enterprise, has launched its second annual Video in Business Benchmark Report revealing the newest traits in video manufacturing, publishing, viewing and monitoring by B2B advertising organizations. Analyzing first-party knowledge from greater than 250,00zero movies printed on the Vidyard platform in 2017, the report reveals exponential progress within the common variety of movies being produced, a big shift in the direction of short-form video content material, and elevated ROI from the utilization of video analytics to observe and measure content material efficiency.
Key findings from the 2018 report embrace:
- The creation of video in enterprise is exploding: Businesses have printed 377 complete movies on common and are including 33 new movies per 30 days (up 83% over earlier 12 months); video libraries are anticipated to double in measurement inside 12 months
- It’s sooner to convey your message in video: 75% of all movies printed had been beneath 2 minutes in size, in contrast to solely 56% within the earlier 12 months
- Desktop continues to be king for video engagement: 89% of enterprise video views occurred on desktop computer systems, constant year-over-year
- When it comes to video, it’s not the scale of your enterprise that issues: Smaller companies are publishing as a lot, if no more, video content material than bigger counterparts
- Video utilization on non-traditional channels on the rise: There has been a rise in using video on distribution channels resembling e-mail advertising, touchdown pages and gross sales groups
- The use of video analytics is turning into extra prevalent: Those utilizing intermediate or superior analytics and viewer engagement knowledge to measure efficiency had been 2x as probably to report that returns on their video investments are bettering
“B2B buyers are wired to process visual information and remember stories, making video an ideal medium with which to engage them,” in accordance to the October 2017 Forrester report, A Blueprint For Successful B2B Video Marketing. “As the amount of video web traffic continues to increase rapidly, B2B marketers must use video to differentiate their message, engage Millennial buyers, and explain complex ideas more simply.”
Video Production Benchmarks
Businesses are accelerating the variety of movies they produce to help their advertising and gross sales packages. On common, companies analyzed within the report now publish 33 new movies each month, up 83% from final 12 months’s common of 18 per 30 days. With a mean of 377 complete movies of their libraries, this development would recommend that video libraries will double in measurement inside the subsequent 12 months.
While extra movies are being created, the common size of these movies continues to decline to meet the altering expectations of at this time’s patrons. The common size of all movies printed was roughly 9 minutes, however 75% of these movies had been lower than 2 minutes in size. This compares to a mean of greater than 11 minutes within the earlier 12 months with solely 56% of these movies being lower than 2 minutes. Video size additionally performs a giant function in viewers retention. Videos which are lower than 90 seconds noticed a mean retention price of 59%, in contrast to movies that had been over 30 minutes which noticed a mean retention of solely 14%.
Video Publishing Trends
Video is clearly now not only for “big brands” both. For the primary time, smaller companies – significantly these in high-tech markets – are actually producing as a lot, if no more, video content material than their bigger counterparts. This development is being fuelled by the adoption of in-house video manufacturing practices and a larger concentrate on low-cost instructional video content material to help later levels of the client’s journey.
There has additionally been a big leap in using video on non-traditional distribution channels suggesting that video is getting used to help a wider vary of selling packages. 60% report utilizing video on touchdown pages in contrast to simply 49% within the earlier 12 months, whereas the variety of companies utilizing video in e-mail advertising jumped from 36% to 46%. Video use in gross sales conversations has additionally skilled a marked improve from 25% to 37%, suggesting that visible content material is getting used extra regularly all through the whole shopping for journey.
Video Viewing and Analytics Tracking
While consumption of consumer-based video content material continues to rise on cellular units, business-related movies are nonetheless predominantly consumed on desktop computer systems. In this 12 months’s report, 89% of all viewing classes occurred on desktops with solely 11% on cellular units, pretty constant year-over-year. With a rising variety of movies being produced to educate patrons and show merchandise, it’s no shock that the desktop continues to be king for video engagement within the enterprise world. The hottest occasions for viewing these movies additionally remained according to Tuesday and Wednesday mornings between 7:00-11:00am PST being the preferred viewing occasions.
The use of video analytics to observe video efficiency and viewers engagement is turning into extra prevalent, with 36% of companies reporting using intermediate or superior video analytics and solely 13% reporting no use of video analytics of any type. Those utilizing superior analytics and viewer engagement knowledge had been 2-times as probably to report that returns on their video investments are bettering.
“As businesses expand their use of video across marketing and sales, it’s important to have relatable benchmarks to help them evaluate their success and identify opportunities,” says Michael Litt, CEO and Co-founder of Vidyard. “Brands are no longer asking if video is a worthwhile investment but how to leverage it in a scalable and strategic manner that helps them achieve their business goals. We hope this report helps them better understand the trends and benchmarks we’re seeing across more than 600 businesses leveraging the Vidyard platform.”
The 2018 Video in Business Benchmark Report was created and produced by Vidyard. Report findings are primarily based on anonymized first-party video publishing knowledge collected from the Vidyard video platform from greater than 600 companies and over 250,00zero movies in a 12 month interval ending November 30, 2017. It additionally consists of anonymized viewership and engagement knowledge from all video streams throughout that interval. The outcomes have additionally been in contrast to constant knowledge units from the earlier 12 months’s benchmark report to provide perception into year-over-year traits in B2B video advertising.
Vidyard is the video platform for enterprise that helps organizations drive extra income via using on-line video. Going past video internet hosting and administration, Vidyard helps companies drive larger engagement of their video content material, observe the viewing actions of every particular person viewer, and switch these views into motion. Global leaders resembling Honeywell, LinkedIn, Citibank and Sharp depend on Vidyard to energy their video content material methods and switch viewers into clients.
Sandy Pell, Senior Manager, Corporate Communications at Vidyard