Last month, the results of a B2B Video Marketing Benchmark Survey were published—showing that video marketing is on the rise in B2B, with 69% of respondents currently using the tactic.
For those that are engaged in B2B video, 82% reported experiencing at least some type of success in their efforts. While the other 18% prove that there is still room for improvement, this is a good sign for those who have been wary that video could work in B2B.
However, the survey shows that significant barriers remain to achieving success with video. The top barriers listed include:
- No budget (47%)
- Lack of internal resources (45%)
- Creating compelling content (45%)
- Lack of effective strategy (33%)
While it is unsurprising that lack of budget tops the list, the survey suggests the budget barrier may weaken over the next year as the majority of companies plan to increase their video marketing spend. But, the next top barriers on the list show that once budget is taken care of, problems remain.
“Lack of internal resources’, ‘creating compelling content’ and ‘lack of effective strategy’ all point to the same problem: lack of expertise. It seems that even if companies can find the budget for video marketing, they often lack the personnel, skill and strategy to really move the needle in terms of business value. They know they need to do B2B video marketing, but they don’t really know how.
It is no shock then, that “65% of B2B organizations outsource all or part of their video marketing campaigns, gaining the specialized skills and resources not available internally.
Companies that outsource video marketing generally gain several advantages. First, you don’t have to waste time figuring out what works and what doesn’t. The outsourcer has already done that and will offer their best practices, saving you countless hours and dollars. Second, hiring a full-time video expert might not make sense financially if your company only wants to make one video per quarter. With an outside agency or outsourcer, you gain all the skill and expertise needed without incurring the cost or risk of hiring internally.
To learn more about why B2B video marketing is a great idea in 2014, read this quick blog. Feel free to contact us with any questions, or check out our services page if you are interested in B2B video production and management.