It’s no secret that the IT industry is in a constant state of motion. Whether it’s tech companies making the transition to the cloud, machine learning or the growth of Dev Ops, there’s a constant stream of innovations disrupting the status quo. The emergence of new industry trends and the disruption of old habits raise considerable challenges for modern tech companies.
As McKinsey notes, Tech providers are under pressure to increase ‘As-a-service’ consumption for software and hardware packages. This at the same time as transitioning to cloud services, open-source offerings and providing Internet of Things business applications. The shear density of unique enterprise services being generated makes it more important than ever to have a distinct marketing strategy and brand identity.
In order to weather the storm of innovation and stay as industry leaders, tech companies need to rely on effective marketing strategies with video content. In recent years video marketing has become incredibly popular due to its high ROI with the Aberdeen Group reporting that 43% of all marketers utilise video specific technology.
The report provides an analysis on the impact of video in B2B and B2C organizations in terms of revenue. More importantly, the work examines the direct marketing implications of video before looking at enterprise-wide deployment.The effectiveness of video content is such that companies using videos average a 75% customer retention rate and increase total revenue by 50% more than non-video users year-on-year.
As the benefits of video content marketing have become more publicised, many prominent companies have embraced the medium in order to advertise their services and connect with customers. One great example of this is seen in Squarespace’s video, which features Jeff Bridges and teaches users how to build a website using their platform.
In this example Squarespace uses a recogniseable public figure to show off the simplicity of their product. The video shows how easy it is for Bridges to create his own website and gives users the impression that they will be able to use the service with ease too. The video provides direct value to viewers in the form of a tutorial. Providing value is the reason that companies who use videos are 65% more effective at maintaining consistent, relevant personalized communications with customers and prospects.
It’s not just emerging giants that are making the transition either, household names like IBM are embracing dynamic video content to drive customer engagement. Technical videos like “Assembling the IBM Z mainframe in 120 seconds” provide customers with a behind the scenes look at the tech prowess that’s made IBM famous in the tech industry. In future, we can only expect to see more industry giants incorporate video marketing into their strategy.
The reason why video content creation is taking root as a central component of digital marketing is it’s ROI. Video technology is very adept at boosting a companies sales and marketing potential. For example, the percentage improvement of video users year-over-year was 7.73% compared to 5.58% for non-users. Likewise, marketings contribution to revenue for video users year-over-year was 6.75% compared to 5.65% for those without.
Outside of the financial benefits of video content, tech companies with engaging videos are much more effective at communicating with their target audiences. The light hearted Squarespace tutorial video adds a distinct personality to the brand, and takes it away from the traditionally impersonal stance of most tech companies. In this instance video was the ideal format to explain technical concepts to the audience without boring them.
Video Content Demonstrates Value
As our technology becomes more diversified and the market saturated, enterprises are going to need to be able to cut through the crowd with engaging video content. It’s no longer enough to write down what your product has to offer, you have to be able demonstrate it in as well. The best way to do this is through a clear and consise video.
Over the next ten years we’ll start to see brands that embrace video marketing stand tall over those who are hesitant to make the transition. The reason is that companies who embrace video content will drive sales by connecting with their target audience. Of course making quality video content is easier said than done, but any company who takes a considered approach to digital marketing and their audience will be able to develop a much stronger relationship with their customers.