A quick browse through YouTube will show you that production quality for marketing videos is all across the board. Some marketers will insist that video content needs to be nearly Hollywood-quality to get attention, and others will tell you that all you need is a smart phone and a topic that is incredibly relevant to their audience. In fact, when funds are short, the latter strategy usually wins every time. But is it really the right strategy or just the convenient one?
For this week’s Chart of the Week, I teamed up with the good folks at Vidyard to find the answer. Vidyard is a great app designed specifically for B2B marketers to help measure video views, engagement, and ultimately drive better results with video content. Since they have a wealth of data, I asked them to run some engagement metrics by content type, and the results were very telling.
Most companies source holiday videos out to agencies to produce some very high quality and entertaining content, so it’s no surprise those videos perform well on the engagement scale. At the opposite end of the spectrum, the video demos that are usually put together by a product manager in his or her spare time see a noticeable drop-off in a short period of time.
Most startling is how uninteresting customer testimonials really are, but if you consider most suffer in quality and tend to drag on, perhaps they aren’t as interesting as we always thought. But based on the data overall, it would seem that production quality impacts engagement far more than relevance. But that could be misleading.
In reality, both production quality and relevance have influence in overall video engagement. After all, you could be watching an incredibly relevant video, but if the sound quality or presentation is terrible, you likely won’t suffer through it for long. Conversely, the production quality could be spectacular, but if it’s not of interest it still won’t hold your attention for long (remember Waterworks?).
What’s really at play is that your bottom-of-the-funnel messages are typically only relevant for a small portion of your audience, whereas top-of-funnel videos need to really focus on production quality to get maximum engagement. Which is great, because you typically don’t need a high volume of videos at the top of the funnel, just some good productions to draw an audience in. But those in the late stages of buying need critical relevant information, and don’t care as much about how flashy or pretty the presentation is.
Many marketers really struggle trying to justify the potentially high cost of video versus some other marketing channels. But if you just stop and think about the funnel and the two key engagement factors, you can save a lot of time and effort applying budget and resources where they will get the maximum impact.