Video Marketing & the Buyer Journey

In the first of 3 interviews from Marketo Summit, Michael Litt shares with us some proven metrics on how you can use video to add more value to potential customers throughout their buying journey.

In this interview from Marketo Summit 2015, Michael Litt of Vidyard shares why video is important and how we can use video marketing to better nurture our prospects throughout the buying journey.

Why is video important?

Michael explains that as marketing becomes more and more automated, there is a lot of noise, and video can help cut through that noise and deliver your message in a compelling way. People are changing the way they buy; they're not necessarily buying what you do, they're buying why you do it. Sirius Decisions reports that roughly 70% of the purchasing decision is made before even talking to a sales rep. Because of this, video can be a very powerful way to get your message across and give your customers an experience that's relevant and in a format they enjoy.

Can a poorly done video hurt your company?

We defintely ran into some challenges producing these interview videos – we used a very lean setup with an iPhone 6+ and a shotgun microphone and with over 7,000 people at the conference, backround noise and interruptions were pretty much unavoidable. However, Michael reiterates that people aren't buying what you do, they're buying why you do it. He goes on to mention that companies even go as far as taking selfie videos as thank you messages to customers for taking meetings. Those videos aren't high quality by any means, but it exposes the human side of the company which is becoming more and more important in today's automated world. 

Michael does note, that if the video is designed to be the first touch in your prospect's buying journey, such as a product highlight video, then Michael recommends adding as much production value as you can as that is the first impression for your company with the prospect. 

How can a company get started doing video marketing?

It can be rather intimidating to create your first video, especially when you have no equipment and no experience. Michael says that almost everyone has a 1080p video recording device in their pocket, similar to going to the gym, you just have to start with something and keep doing it consistently to get better and better. Video marketing is an evolutionary process and if you're not putting stuff out there, you never have the opportunity to learn from that experience and get better.

How should videos change throughout the buying cycle?

Michael explains that the data shows that the top of the funnel videos your first point of contact  and should be short and sweet. You should also notice that only 50-60% of the people who watch the video actually complete it, as it is intended to very general and for the largest audience. When the prospect moves further and further down the funnel though, the video content can get longer and the completion rate should move closer to 100% as prospects are getting closer and closer to their buying decision. 

We will be posting 2 more interviews, so stay tuned for more valuable insight from these insightful presenters at Marketo Summit!