We're gonna hop into some of the findings from our
annual video in business benchmark
report which analyzes
the use of video across the VR platform.
So all of our different users, all of our different
business customers to try to understand
the year over year trends and
how people are using video, how the most
successful people are uh trending
differently from others. And of course, the lessons
we can all learn from that data.
So I wanna share with you some of the key findings from
this year's report. And again, most importantly,
what it could mean for you for how you optimize
your own use of video and Vidyard.
So let's dive right into it.
The first result this
year, which was consistent with the
previous year and may not come as a surprise
to you folks out there
is that the use of video continues
to grow.
If it didn't, we probably wouldn't all be here.
But there's a very clear sign that
the use of video content across both marketing
and sales and for internal communications
is continuing to grow every
day. And this is a great call
to arms for all of us to continue to
stay ahead of the trends in
the use of video to get more and more comfortable
on camera, to get more and more comfortable
using other tools like can and
video editing tools to keep leveling
up our game because this is not going
anywhere
now. Um Compared to the previous
year, video creation was up 29%.
So we saw 29% more videos
being created and or, and or shared
through the VDR platform.
And uh what was very,
very notable was that
the majority of those videos, 72%
in fact are what we would call
user generated videos.
So these are videos that are recorded
using the Vidyard Chrome extension,
the desktop app, um or the
web app, uh or the mobile app
and uh then uploaded and shared
out through Vidyard.
Now those are often those 1 to 1 videos
like we talked about in our previous sessions that are
often used by sales reps or
folks communicating internally with their peers.
And this is a big part of driving the
growth in the use of video.
We are continuing to see that recorded
video content, things that are pre-recorded,
preproce, often by marketing teams and uploaded
into the platform are continuing to
be used more frequently. But the big surge
is happening through the use of these 1 to 1 personalized
video recordings.
Now of those custom recordings,
80% of them were done
using the hybrid approach
which what what I mean mean by that is a screen
share plus your webcam,
your camera is on in the corner and the screen is on
behind you.
So we're continuing to see more and more of those types
of videos created.
And I want to share a little bit about why I
think that's the case
and a couple of tips for all of you to really
embrace this idea and lead the pack
in terms of your use of user generated video
and how you use screen shares to really
add value to the customer
journey. So one
of the things that's um
important to note
and this will sort of lead into,
you know, a couple of the interesting takeaways and recommendations
I have for you
is that
of those videos um are being created
by uh businesses. This chart
actually shows how it breaks down by industry
and this also provides
a bit of insight into like where video
is going and how it's being used.
So we saw again a
good increase in the number of videos created.
Um The largest increases
happened in a couple of key industries.
And one of those was financial services.
So we have seen a huge growth
in financial services companies and
individual financial services,
um reps, agents, brokers
using custom recorded videos
as a way to engage with customers
and clients and help move them
through um uh a sales process.
Um We also saw an increase in high tech, though
high tech has always been high in its use of custom
videos as well as pre-recorded,
produced videos.
And then we also saw increases in a few
other key industries like education,
um professional services and
um real estate.
But if you look at the big two
financial services and high tech and you ask yourself
like, why is there such huge
use and growth of video in those um industries?
My take
is that it's all about the need to
explain complex ideas and create clarity
with prospects and customers.
Financial services and high tech are
two industries where the product
is often not fully intuitive.
There's a lot of nuance to what the product
offer is, what it does, how it works,
how it's priced, why it's priced that way,
how it compares to other things.
And there's a lot of differentiation in the market
and video, of course, is the great
way to create clarity to walk
through, to help explain
um complex ideas
and to ensure that your prospect or buyer
truly understands and can go back and rewatch
or share with others to help with their clarity as well.
And so I think this is one of the sort
of great and prominent use cases and you'll
see this as a thread throughout is that
using video to educate audiences
is becoming more and more prevalent.
So it's not just about earning attention
while prospecting, it's about creating clarity
and educating potential buyers.
Now, this leads into
um finding number two or
uh I think takeaway number two, which is
one of the main trends in terms of the use
of video specifically by sales teams
and what we found here. Um And
this is through a supplemental um surveying
and analysis of how different sales
reps report using video messaging
is that we found that not surprisingly
outbound prospecting was
the number one reported use case
for video.
And so that is again where you're trying to use it to
earn attention to create a memorable
moment with the prospect and introduce yourself.
But then we also see it being used um
following up with existing prospects
as well as recording custom product
demos.
Now, going back to my point in the last slide,
there are a few things that again, this tells
me that video is really good at
and I wanted to share this acronym that I like to use
to think about. How do you really use video effectively
as a salesperson? What's the big
sort of value point or unlock that it provides?
And I've got this acronym that's easy to remember called fame
and I'll un unveil this to to show you
what fame stands for. Fame stands for
using video two, number one,
create familiarity.
So using it throughout the sales
process helps you be more familiar
to your prospective buyer, especially as
we're doing more and more remote selling.
And this is why we keep seeing the use of custom
videos grow because it's not just about prospecting,
it's about explaining ideas, answering questions,
walking through proposals
and I expect to see that continue to happen because
more and more our buyers, our prospects,
they prefer a remote experience,
they prefer on demand information and
they don't always want to have to get on a zoom call
just to get an answer to a question or walk through something.
And so I think it's really important to be mindful
of the use of video in different use cases
to create familiarity with you as
a sales rep or you as a brand.
The second is earning attention.
So video is great at earning attention. KD
talked about that uh in our first session,
we see it when we talk about using it for prospecting
in particular.
But even throughout the sales process, it's a great
way to earn the attention of our prospects
and create familiarity.
It's also a great way to maintain momentum
in opportunity cycles
because again, we don't have to wait for that next
zoom call to explain something clearly
when your prospect asks you for more information
about X or is
there um can can you explain how
another, you know, client of yours uses
your solution
instead of saying, well, can we book something and let's,
you know, find time in the calendar,
try recording a video
walking through it clearly with visuals on your
screen
and using that as a way to deliver the information,
it keeps the momentum going in your deals because
you don't have to wait for the live call, but you
still get to show and tell.
And then finally, it's education video is of course great
at educating, creating clarity which we've talked about.
And I think really underpins some of these under find other
findings of the use of video
throughout a customer life cycle to create
clarity and explain complex ideas.
So fame use video to create
familiarity to earn attention, to keep
momentum going in your customer cycles
and to educate your prospects and buyers,
whether that be through custom videos or through marketing
produced content.
OK. Finding number three. Now, I want
to speak to all of the marketers in the room.
Um A few of the specific findings as
it relates to the use of video for marketing.
Again, it actually is
pretty correlated to what we just talked about.
The most commonly reported uses of
video for marketing
um by folks within our community
are for product demo, videos, explainer
videos and recorded webinars.
Now this is again, fairly interesting
when you go back, you know, 56 years,
the primary use of video is actually for promotion
and brand and communications. But
we're seeing more and more every year, we've seen
these increase in priority the
use of video to educate audiences.
And I think this is a couple
of reasons. One is
well, it's becoming easier and more inexpensive
to create video content.
So we can create more supply of it. Because this as
marketers, we know video is a great way to tell a story.
But on the other side, the demand for video
I think is continuing to increase by
prospects and buyers.
And that's because more and more they of course
want to really see rather than just hear
how it is things work, they want to be able to trust it,
but they also have an increasing preference
for on demand.
Don't make me again book a demo
and just to see how it works, right?
Can you offer me something that I can watch on my own
time? Because that's our expectation now in today's
world and people may be in different
time zones, buying teams may be all over the world.
And so the ability to have things on demand that
can be shared and watched on their own time is
continuing to become more and more important.
So things like demo videos, explainer videos,
walk through videos. All of those
are really, really important in today's sales
and marketing staff.
And the fourth finding um that I wanted to share
was, you know, year over year we track
of all the videos shared through Vidyard.
Um How long are different videos
and what kind of engagement do we see in
videos of different lengths?
Because we always get asked the question, how long should my
videos be?
And the answer is, of course, it depends, depends on
a lot of different factors.
But this should give you a sense for how you're seeing
your peers and others in the market who are
doing video for both sales and marketing using
it in their communities.
We found that the majority of videos
are less than one minute
five years ago. That wasn't the case. The majority
of videos were actually over 10 minutes.
But we've seen this shift to shorter form content,
more user generated videos and
more short form social um style videos.
In total, 60% of the videos are under
two minutes.
But of course, we still see a number of videos
that are in the 2 to 4 minutes and 20 minute
plus range, things like recorded webinars.
But interesting finding from this was also that videos
in the 2 to 4 minute length shot really high
up this year.
Um They went from about 10%
to uh to 20% of the total videos.
And I think that's because we're continuing to see this increased
investment in things like, you know, demo
videos, walk throughs proposals
that take a little bit more time to, to to walk
through and are more meant for later stages of the sale
cycle.
And as people want more and more of a remote buying experience,
that content becomes more and more important.
And in terms of viewer retention of videos of different
lengths, it's exactly what you would expect
shorter videos are more frequently watched
until the end
and it goes all the way down to the longer videos.
But here's a good benchmark for you. On average
videos that are less than one minute
have 66% of viewers
watch all the way to the end.
So you can look at your own data and compare it to some
of these benchmarks to see. Hey, for my videos,
are we seeing similar engagement rates or
better engagement rates than the average
is uh in the Vid Yard benchmark report?
And I can give you a sign on whether or not your content is
resonating if it's engaging your audience.
Um Or if perhaps people are dropping
off early or not consuming, might
mean you want to rethink some of your content strategy.