Online video marketing is the one area where companies of every size can compete equally. Production values don’t matter to viewers — all that matters is a great concept — and the barrier to entry keeps falling. So why aren’t small and medium-sized businesses making more of an effort?
The people at Vidyard and Demand Metric have teamed up once again to study the world of online video marketing, and the latest report shows that enterprise is running away with online video.
After surveying B2B marketers in companies that used video, the report found that 36 percent of large companies created over 100 marketing videos each year. Only 5 percent of medium-sized companies and 4 percent of small companies turned out the same amount. In this survey, small companies have $25 million or less in annual revenue, medium companies have between $26 million and $500 million, and large companies over $500 million.
“SMBs should not surrender the video marketing high ground to large companies in this way, particularly in light of the continual lowering cost and technical barriers to producing quality video,” the report urges. Video marketing is one area where companies of any size stand on an equal footing, it continues. Smaller companies can even gain ground on larger competitors through the use of video.
The largest percentage of companies choose to host their videos on both external sites (such as YouTube and Vimeo) and their own company or brand sites: 46 percent hosted videos at both locations.
But where are those videos being made? Companies that make a lot of video (51 or more videos each year) mostly use a combination of internal and external resources. The report notes the conventional wisdom is that companies that create a lot of video use more in-house resources to do so, but the conventional wisdom is wrong.
“Companies producing video in volume seem to put the emphasis on criteria like quality, cost, efficiency, or creativity; and they are seeking the best blend of skills and resources to get it,” the report notes.
For much more on the use and value of marketing video, download the report “Video Content Marketing: Identifying Metrics and Measuring Impact” for free (registration required).