Barriers to Businesses Adopting B2B Video Marketing Services
Insights from leading industry experts
Video has rapidly risen to dominance over all other forms of content because of its stellar ROI and its versatility as a content marketing tactic across every business sales and marketing objective. But has the business world taken notice? Do they feel the urgency to create, market, and invest in business video content.
Everyday we speak with companies that have no budget allotted, no plans for and are not considering video. Thus, we reached out to other top video production companies to learn if New York video production companies are experiencing the same thing as similar video production companies in their respective markets across the United States.
As one of the leading New York City video production companies, we wanted to better understand how B2B video marketing is being adopted nationally and some of the barriers and opportunities. In Part I we talked about what businesses are actually paying for video, in case you missed the article you can check it out below:
Part II in our series to better understand the State of Business Video Production we focused on the barriers needed to see a higher adoption rate. We asked our peers what they are seeing in their respective markets as it relates to some of the barriers of business video production.
It seems that most of the pushback that most every video marketing company is getting is related to lack of budget, resources, and education. Not exactly a surprise as this aligns with what we hear in the New York City market every single day. We believe this gap can be attributed to companies not understanding the investment level for video and the expected ROI.
Our conclusion is that video is perceived as an ambiguous investment. Businesses don’t see the value of allotting valuable budget to video.
Like most top video production companies, we feel part of our job as experts is to educate our audience on the value of B2B video production. As a response to this mission, we have a series of business video tips series called MultiVision Minutes. This is a series of educational videos that discuss every aspect of video marketing. We showcase this series on our dedicated tips page full of informative videos on our website
Ensuring that, even after we explain these same things they can go back and review the information whenever they want. On the tips page you will find videos such as:
Video can take more time, effort and money to produce, but the ROI is proven as video content is what buyers are demanding. Video is how you are going to differentiate yourself from the competition. Maybe the case for B2B video production isn’t as apparent as we thought…but in a few years, as more businesses invest and see the value, video will be the standard.
Top 10 Barriers to Businesses Adopting B2B Video
1. Perceived Value – they think cheaper is better and that’s usually not the case
2. Cost – Many companies do not see the benefit in spending money for videos or believe that someone can do it with a phone or cheap camera.
3. They need to understand the value of doing video well in their particular industry.
4. Knowing where to start with the strategy and then getting with a team (or hiring) people who know strategy, video & social advertising.
5. Budgets and proof of tangible ROI in order to justify the spend
6. Lack of expertise, resources, and time.
7. I think it’s a pricing issue. A lot of businesses just getting started in video need to be educated on budgets and pricing. Whether that be by companies creating an alacarte list of videos and pricing models or truly educating the marketing teams about what to expect with video costs.
8. I think businesses are still unsure about video for a few reasons. Number one reason, is the lack of control of the video once it is out there. We have some clients who don’t want people to comment or leave any negative feedback on their videos when they are playing on YT or FB, etc
9. Probably the effort of getting the video produced and the inherent self-consciousness people have about appearing in video.
10. Making the right investment for the objective at hand. Getting better and marketing their video content in the specific distribution channel the video was intended for, thus providing the ROI.