To most marketers, the value of video is abundantly clear. However, when you decide it’s time to embark on a video marketing strategy, you will inevitably need to get approval from the executive suite. Getting executive buy-in can sometimes be a challenge, so it’s important to come prepared to make an impact. Your job is to convince the C-suite that video is a must-have component of your marketing mix.
The most important question you need to answer is: Why video? What makes it such a crucial part of your marketing strategy? Do your research and come prepared with some statistics that back up your message. Here are some stats to get you started:
First of all, video is huge, and customers love to watch it.
- According to a study from Syndacast, 74 percent of all Internet traffic in 2017 will be video.
- Pew Research Center found 78 percent of online adults watch or download videos.
- eMarketer found U.S. adults watched an average of 5 hours and 30 minutes of video each day in 2015.
- YouTube alone accounts for hundreds of millions of hours of views each day.
Return on investment
It’s obvious that people watch video online, but one of the crucial things you need to drive home about video is that it’s worth the investment. Be sure to include some studies that demonstrate video’s value to the bottom line.
- According to Syndacast, 52 percent of marketers worldwide believe video has the best ROI of any type of content.
- Invodo found that in Q3 of 2015, video viewers were 1.7 times more likely to purchase than customers who hadn’t viewed videos.
- The same study revealed customers who had watched videos also spent 2.5 times more than non-viewers.
It’s not just for B2C
Another objection executives might raise is that video has obvious value – but only for consumer-facing businesses. Luckily, this isn’t so. Business-to-business companies also have a lot to gain from implementing video marketing strategies.
A study from Forbes found that executives use video for business-related tasks and decision-making. Three-quarters of executives watch work-related videos at least once a week, and more than half share videos with colleagues on a weekly basis. But decision-makers don’t just watch videos. This content helps to drive them down the sales funnel. Sixty-five percent of executives visited a vendor’s website after viewing a video, and more than half conducted a search to learn more about the brand.
Now that you’ve accumulated enough data to prove your point, it’s time to actually make your case. Sometimes, just having the information isn’t enough. You might need some internal support.
Gather internal stakeholders
One crucial thing to remember about video is that it’s not just for the marketing team. The most obvious other department that will benefit from video is the sales team. Video content can support prospects through the sales funnel, providing them with the information they need to make a decision.
There are other departments that could benefit from video production as well, such as human resources. Human resources teams can use video to communicate internal policy changes, improve training or even to elevate employer brand for jobseekers. Any time you need to send a message, video is a great way to do it. Talk to other departments about video, get their input and ask for their support as you attempt to get executives on board.
“Video helps your marketing team stay relevant.”
Identify risks and concerns
Executives can be risk-averse. It’s important to consider the types of questions they will ask before presenting your case for video. Since you will likely be giving your presentation to the CMO, consider what worries this particular executive.
While the CMO may agree that video will likely demonstrate ROI, he or she will be worried about proving it to the CEO. In this case, let the exec know that video is one of the forms of content that is easiest to measure with analytics and it shouldn’t be hard to demonstrate its value.
Another chief concern of CMOs is staying relevant in a fast-changing marketing environment. According to a recent Korn/Ferry report, 27 percent of CMOs worry about taking advantage of the latest digital technology trends. This one should be easy, since video viewing is trending upwards and has been for some time. When it comes to staying relevant in today’s digital marketing environment, video is one of the best investments you can make.
Unique organizations may have specific concerns it’s wise to address. For instance, financial services firms may have compliance concerns that you should research before bringing your case to the C-suite.
Gaining internal buy-in is one of the last hurdles to cross before implementing your video marketing program. Come armed with hard facts and be ready to overcome any objections, and you should be well on your way.