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Analyzing Vidyard’s 2018 Video in Business Benchmark Report

2018 Video in Business Benchmark Report

Did you know that almost 90 percent of digital marketers use video as part of a marketing strategy? Clearly, it’s working because 90 percent of customers say video helps them make decisions and 64 percent say that it makes them more likely to buy. Whether you’re a video marketing novice looking to get started or a video marketing expert looking to up your game, understand how businesses use video can help. This is where Vidyard’s 2018 Video in Business Benchmark Report comes into play.

The annual benchmark report has become a highly anticipated analysis of the data at hand. What can marketers glean from the 2018 Video in Business Benchmark Report? Let’s break it down.

For an at-a-glance look at the findings, here are the key takeaways:

  • Businesses have published 377 videos on average and are publishing 33 new videos every month; their video libraries will double within 12 months.
  • 89 percent of views of business-related videos take place on desktop browsers, with only 11 percent on mobile devices.
  • The middle of the week is the most popular for B2B video views, with Tuesday between 7AM-11AM PST seeing the highest number of views.
  • Product videos, demos, and explainers are the most common videos produced; websites and social media are the most common distribution channels.
  • Businesses are increasing their use of video across specific channels: the number of businesses using video on landing pages jumped from 49 percent last year to 60 percent this year and the number of businesses using video in email jumped from 36 percent to 46 percent. Additionally, video use in sales conversations has also experienced a marked increase from 25 percent to 37 percent.
  • The average portion of viewers remaining by the end of a video is 46 percent, with video length playing a big role in retention. Videos less than 90 seconds in length see an average retention rate of 59 percent, as compared to videos over 30 minutes that retain only 14 percent of viewers.
  • The use of video analytics is becoming more prevalent, with 36 percent of businesses using intermediate or advanced analytics to measure performance and only 13 percent of businesses not using video analytics of any kind.
  • Those using advanced analytics were 2x as likely to report that returns on their video investment are improving

There’s a lot more than bullet points to get out of the 2018 Video in Business Benchmark Report. Let’s do a deeper dive and find out what the data is telling us about video in business.

Mobile is Not Yet King

Mobile is a huge and growing market. It’s where a lot of action is. But don’t make too many assumptions on that score. One of the more surprising findings in this report: When it comes to B2B video content, 89 percent of viewing is happening on laptop/desktop browsers and only 11 percent on mobile devices.

So, while you should produce content that is suitable for mobile-viewing, know that most of your leads will likely come from a desktop. The bottom line is leveraging videos for B2B lead generation is a must.

Video Publish or Perish – by the Numbers

How many videos are getting produced? The average number of videos published by an organization was more than 1 per day at 377. Often, these are not slickly produced, expensive content pieces, but rather quick demos or product information videos put together by employees in sales, marketing or other departments within the organization.

Not surprisingly, smaller companies are more likely to rely solely on in-house production, and enterprise level tend to outsource this task.

If you want to learn more about producing videos download: Six Steps to Kick Start Your Video Marketing.

Content

Are you asking yourself how can companies come up with so many ideas to produce multiple videos a day? The graph below gives a fine-grain look at types of videos being produced. Demos and product videos, no surprise, top the list with How-tos and explainers are a popular choice as well.

2018 Video in Business Benchmark Report

The 2018 Video in Business Benchmark Report has some interesting stats on the 3 most popular types of video related to distribution method. You’ll see that while product videos perform well on landing pages, websites and in social media, demos take the top spot when shown in emails and as part of a sales conversation.

2018 Video in Business Benchmark Report

Want to learn more about distribution? Read: Top Video Marketing Distribution Trends Marketers Need to Know.

Analytics and Impact

51 percent of respondents report using some sort of basic analytics tools like views or shares. 13 percent use no analytics whatsoever. The percentage of companies who don’t bother has decreased rapidly over the past year. Lesson: If you are putting the effort into making the videos, you should find out what good it is doing you.

Your Turn

Take a closer look at the 2018 Video in Business Benchmark Report. My biggest takeaway: Moving forward, utilizing analytics tools will be the difference between churning out video content and making a difference in sales and affinity for your business. Kowing views and shares data is great, but to stay ahead of the competition, data on location, viewer drop-off rates, viewing heat maps or attribution to sales pipeline. The more precise the data, the more exactly you know the impact on revenue and ROI.

Eric Vidal
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Eric Vidal

CMO and Co-Founder at Broadsuite Media Group
Eric Vidal, an industry expert with over 25 years of marketing and technology experience is passionate about providing insight and education on the latest martech trends and techniques. Eric speaks and writes for various publications like The Marketing Scope and Future Of Work to name a couple. He's also a Principal Analyst at Futurum Research where he follows and writes about marketing technology. Eric has been a marketing leader for companies of all sizes. He has extensive experience working to achieve measurable business results for organizations like IBM, Cisco, WebEx, Canon USA, West Corp., Dynamic Signal, adidas, SAP and more. Connect with Eric on LinkedIn.
Eric Vidal
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