As one of the leading New York City video production companies, we wanted to better understand how B2B video marketing services are being adopted nationally. In Part I we talked about what businesses are actually paying for video content marketing, in case you missed the article you can check it out here: LINK
Part II in our series to better understand the State of B2B Video Marketing Services we focused on the barriers that need to be overcome in order to see a higher adoption rate of video content marketing. We asked other New York City video production companies and across the nation about what they are seeing in their respective markets.
Looking at our digital landscape there is a clear shift in buyer behavior – people want, prefer, and demand that their media consumption takes place in video format. Year after year the appetite for video grows and, with that, the case for B2B video marketing services gets stronger. Yet video content marketing has a remarkable low adoption rate.
It’s clear video rests steadily in the conductors seat driving our attention in the digital age. This makes it the best form of content for businesses to utilize when driving sales and marketing goals.
The most evident example of this shift is YouTube (which has birthed a myriad of other video platforms). YouTube no longer is the place people go to watch funny cat videos. YouTube has become so much more, evolving into a legitimate search engine for quick and usable information. This evolution is the representative of the market’s response to the rise in demand for video content and is indicative of the exact deviation in buyer behavior that businesses need to respond to.
Despite the clear shift, B2B video marketing services encounters continual resistance from decision makers, particularly in traditional industries like manufacturing, accounting and legal. They still tend to follow the same outdated pattern; we don’t do video, video content marketing isn’t for us, now isn’t the right time. When a video marketing agency hears this many are left scratching our heads confused at the lack of awareness. Is it our market, or the industries we work in? Does every video marketing agency face similar questions and objections?
Without a doubt, high quality video marketing and sales video should be standard business practice by now. While there are the people that ‘get’ it, there is still major pushback. Video will become the content production benchmark in years to come, but what’s taking so long? What barriers, real or perceived, hold enterprises back?
Let’s hear what producers across the nation, at their video marketing agency, said about the barriers to B2B video marketing services in their markets.
“I think it’s a pricing issue. A lot of businesses just getting started in video need to be educated on budgets and pricing. Whether that be by companies creating an ala-carte list of videos and pricing models or truly educating the marketing teams about what to expect with video costs.”
CEO of Sparkhouse
Head of Digital Strategy at Hinge Marketing
“Budget is a big one. But unlike other marketing investments, especially in content, video is more involved. It’s hard to say $X gets you ABC, like with developing a paper or written content.”
Director, Custom Content at Technology Advice
President of MultiVision Digital
It seems that most of the pushback that most every video marketing agency is getting is related to lack of budget, resources, and education. Not exactly a surprise as this aligns with what we hear in the New York City market every single day. We believe this gap can be attributed to companies not understanding the investment level for video and the expected ROI.
Our conclusion is that video content marketing is still perceived as an ambiguous investment. Businesses don’t see the value of allotting valuable budget to video.
Like most top video production companies, we feel part of our job as experts is to educate our audience on the value of B2B video marketing services. As a response to this mission, we have a series of business video tips series called MultiVision Minutes. This is a series of educational videos that discuss every aspect of video marketing. We showcase this series on our dedicated tips page full of informative videos on our website
Ensuring that, even after we explain these same things they can go back and review the information whenever they want. On the tips page you will find videos such as:
Video can take more time, effort and money to produce, but the ROI is proven as video content is what buyers are demanding. Video is how you are going to differentiate yourself from the competition. Maybe the case for B2B video marketing services isn’t as apparent as we thought…in a few years, as more businesses invest and see the value, video content marketing will be the standard.
Top 10 Barriers to Businesses Adopting B2B Video Marketing Services
1. Perceived Value – they think cheaper is better and that’s usually not the case
2. Cost – Many companies do not see the benefit in spending money for videos or believe that someone can do it with a phone or cheap camera.
3. They need to understand the value of doing video well in their particular industry.
4. Knowing where to start with the strategy and then getting with a team (or hiring) people who know strategy, video & social advertising.
5. Budgets and proof of tangible ROI in order to justify the spend
6. Lack of expertise, resources, and time.
7. I think it’s a pricing issue. A lot of businesses just getting started in video need to be educated on budgets and pricing. Whether that be by companies creating an alacarte list of videos and pricing models or truly educating the marketing teams about what to expect with video costs.
8. I think businesses are still unsure about video for a few reasons. Number one reason, is the lack of control of the video once it is out there. We have some clients who don’t want people to comment or leave any negative feedback on their videos when they are playing on YT or FB, etc
9. Probably the effort of getting the video produced and the inherent self-consciousness people have about appearing in video.
10. Making the right investment for the objective at hand. Getting better and marketing their video content in the specific distribution channel the video was intended for, thus providing the ROI.
A Video Marketing Agency You Can Count On
As one of the leading New York City video production companies, MultiVision Digital, specializes in B2B video marketing services. We are able to work with both smaller businesses and larger companies who are eager to include a sound video content marketing strategy into their long-term marketing plan.