Video Grows in Importance But Doesn’t Reach Full Potential [New Research]

Video is a vital piece of many profitable content material advertising and marketing methods, however is it getting used to its full potential?

That’s the query we on the Content Marketing Insitute got down to reply in the newly launched 2022 Video & Visual Storytelling Survey sponsored by Vidyard.

The unlucky reply is not any.

Only 12% of content material entrepreneurs say their group makes use of current movies to their full potential. Nearly 1 / 4 (22%) say they’ve an extended method to go earlier than they’ll do this.

Only 12% of #Content marketers say they use #video to its full potential, according to @CMIContent #Research via @LisaBeets. Click To Tweet

Is your organization using its existing videos to full potential?

Fortunately, 66% say, “Not yet, but we’re getting there.”

Let’s have a look at among the different key findings from the report.

Video significance will increase

Seventy-three p.c of entrepreneurs say video has grow to be extra essential to their enterprise in the final yr. Twenty-seven p.c say its significance is about the identical. No one says video has decreased in significance.

In the last year, has video become more important to your business (27%) or about the same in importance (73%).

This discovering aligns with CMI’s annual content material advertising and marketing analysis, in which 78% of entrepreneurs count on their organizations to take a position in video in 2022.

78% of marketers expect their #video budgets to be bigger in 2022 via @CMIContent @LisaBeets. #Research Click To Tweet

Marketers need a video technique

With video’s enhance in significance, a corresponding constructive return on funding is important. However, 85% of entrepreneurs say they get common or below-average outcomes. When requested what they should get higher outcomes, probably the most regularly cited reply (59%) was a video technique.

Author and keynote speaker Andrew Davis stresses the significance of a video technique. “Video is a ‘show-me’ medium. Without a strategy documenting how you will show instead of tell, a clearly defined outcome, and the resources you require, much of your time spent on video won’t bear fruit,” he says.

#Video is a show-me medium that needs a documented strategy, says @DrewDavisHere via @LisaBeets @CMIContent. #Research Click To Tweet

Surprisingly, solely 21% cite higher high quality as essential to get higher outcomes.

Other responses included:

  • More finances (52%)
  • More human assets (46%)
  • Better distribution (33%)
  • More coaching on greatest practices (33%)
  • Better measurement (28%)
  • Better on-camera expertise, together with extra material skilled participation (27%)
  • Better tools, manufacturing, and enhancing instruments (25%)
  • Other (6%)
  • Unsure (2%)

What would your organization need to get better results with video?

59% of #Content marketers say they could get better results with #video if they had a video strategy via @CMIContent @LisaBeets. #Research Click To Tweet

What in regards to the 15% who say they’re getting glorious outcomes? To what components do they attribute these outcomes? These excerpts from their responses clarify:

  • “Engaging content, storytelling, finding topics that the audience is looking to watch videos about; length one to three minutes.”
  • “We’ve made good videos; our competitors don’t have a similar quality, and our audience doesn’t have the time for longer content.”
  • “Storytelling … real, authentic stories told from the people the stories are about.”
  • “Understanding the audience and what they want/need. If something doesn’t work, we discontinue it. We also serve the content up at times our audience is active on the various channels.”

Excellent outcomes hinge on delivering one thing above and past what your clients can produce themselves, says Amy Balliett, senior fellow of visible technique at Material. “Don’t deliver content that leaves your customers thinking, ‘I could’ve done that myself,’ or worse, ‘I could’ve done that better.’ To earn the attention of today’s media-savvy buyer, you need to wow them with quality over quantity.”

To earn the attention of today’s media-savvy buyer, you need to wow them with quality over quantity, says @AmyBalliett via @LisaBeets @CMIContent. #Research Click To Tweet


Video budgets proceed to extend

Sixty-four p.c of respondents count on their video finances to be higher in 2023 in contrast with 2022. Of those that count on a rise, over one-third (38%) plan for a 1% to 9% increase, and one-quarter (26%) say they might see a rise higher than 9%.

Only 1% of respondents count on their video finances to lower between 1% and 9%. Another 2% count on a lower higher than 9%, and 21% count on their video finances to stay the identical. The the rest (12%) aren’t certain what to anticipate.

How marketers think their 2023 video budget will change compared with 2022.

Is extra finances the reply for extra video success?

Seventy-four p.c of respondents say their group wants to take a position extra in video.

“Marketers will gladly welcome more budget, as it provides more options and possibilities. What marketers don’t think as much about, however, is that more budget means higher expectations,” says Dennis Shiao, founding father of the advertising and marketing company Attention Retention. “When you’re given a finances of $100,000, the expectations from the C-suite are far totally different than while you’re given $5,000.

When you’re given more budget for #video, the expectations from the C-suite are higher, says @Dshiao via @LisaBeets @CMIContent. #Research Click To Tweet

Like many video customers, Dennis says he favors lower-budget options over Hollywood productions. “The beauty is that it’s easier to create and edit video than ever before. Fifteen years ago, you needed a studio, high-end video cameras, and high-end editing tools. These days, you have smartphones (and editing apps right on your phone) and laptops (with webcams and browser-based editing tools). Yes, the video won’t be as snazzy as one shot in a studio, but that’s fine. In most contexts, users prefer authenticity over perfection.”

HANDPICKED RELATED CONTENT: 5 Lessons on Creating Video Like a Pro Even If You’re Just Starting Out

Lights, digicam, technique

What’s the way in which ahead?

One survey respondent says it’s fast wins and buy-in.

“Cultivate a culture of quick video wins by spinning off what you’re already working on to augment current campaigns to win buy-in slowly and organically (and educate internal stakeholders) on what can be done for more robust video projects,” they write.

But you don’t must reinvent the wheel. As the respondent continues, “Video is an alternative way to present content that you’ve already found to be effective. It doesn’t have to be flashy or necessarily unique. The point is to optimize your story.”

Robert Rose, CMI’s chief technique advisor, says video advertising and marketing success in 2023 shall be based mostly on understanding what audiences are asking for and delivering that – “providing less information to make the research process fuller – and more content designed to make the buying process easier.”

Ultimately, content material entrepreneurs have already got the know-how to get probably the most out of video investments. They’re simply lacking one factor, says Orbit Media’s Andy Crestodina.

“The knowledge exhibits that entrepreneurs know video works. We know the way it works, the place it really works, and why it’s efficient. We even have the tools. But the plan is lacking. Fifty-nine p.c say they want a video technique.

The data shows that marketers know #video works, but the plan is missing, says @Crestodina via @LisaBeets @CMIContent. #Research Click To Tweet

“The data itself suggests the strategy: Publish short videos that humanize the brand and showcase your value, starting with case studies, demos, and thought leadership. Measure success in the website conversion rate lift. Do it all using your in-house team and the gear you’ve already got.”

Interested in studying extra about how content material entrepreneurs produce movies, the kinds they use and the place, how they measure success, and extra? Check out the 2022 Video and Visual Storytelling report right now.

Cover picture by Joseph Kalinowski/Content Marketing Institute