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B2B study: video spend on the rise
Look for more Business to Business (B2B) companies to invest in video in the coming years. That is the takeaway from a new report out from Demand Metric and Vidyard, which shows already increased spending in video production, and a trend for more B2B brands to push into the video space.
According to the B2B Video Marketing: B2B Benchmarks and Best Practices report most (69%) have used video for campaigns in the past; the remaining 31% say they 'are planning' to implement video in the near future. And, while only about 15% say their video campaigns are 'very successful', nearly two-thirds believe video is at least 'somewhat successful' for their brand.
About half (52%) are using video to increase brand awareness or to increase lead generation (45%) and online engagement (42%).
Some interesting takeaways from the report include:
• 63% of B2B brands are increasing their video spend
• 82% of B2B marketers say video strategies are 'successful'
• One-third plan to 'significantly' increase video budgets in the coming year
• 81% will use branded/company websites for distribution
• 73% will use sharing sites like YouTube for distribution
About two-thirds (66%) say they'll link to video from their email or newsletter campaigns.
As for which channels give the most return, those survyed said the most effective channels were sharing sites like YouTube (26%) while company/branded websites and email/newsletters were found less effective.
The biggest challenges for B2Bers is the lack of budget dollars and in-house resources to create original content. Nearly half (45%) said developing/creating that content was another challenge.
Image via Shutterstock
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