Video is everywhere! It has become every marketer's favourite medium for delivering content online and rightfully so.
59% of executives claim that they prefer watching a video over reading text in a survey done by WordStream. Research by Unbounce suggests that a landing page with a video on it can increase customer conversions by 80%. Similarly, in another study by Insiva, viewers retained 95% of a message when it was delivered via video as compared to 10% when it was delivered via text.
The attractiveness of video has pushed companies to incorporate it, in their account-based marketing (ABM) strategy, and we here at xGrowth couldn't be more excited to share our views on how companies can do so.
Here are five ways by which businesses and companies can use video to drive ABM success
1. Doubling Down on Creating Shorter Explainer Videos
The concept of an explainer video has been around for a while. It allows companies to showcase the solution to the problem they are addressing concisely. Traditionally, these have been 2-3 minute long; but with attention spans reducing and micro-video platforms rising, businesses would do well by pivoting to 30-second formats. LinkedIn too jumped on the micro-video bandwagon with the recent launch of Stories.
From an ABM perspective, doubling down on creating shorter explainer videos is a low hanging fruit as companies already have the content and merely need to refurbish it to fit the 30-second duration.
1. Sending Video in Actual Mail
Yes, you read that, right! Video brochures are real, and they are exactly what you think they are – a branded LCD screen, ranging from 2 to 7 inches, delivered to a prospect's doorstep with a personalised message. It could be a video sales pitch, a recorded greeting from the founder of the company, an explainer video that we talked about before, a compelling offer or any other form of video-based marketing collateral.
The current generation of video brochures have the content stored on a hard drive, but we at xGrowth feel that the technology can take the traditional video brochure a level up wherein the LCD screen connects to the cloud via the prospect's wifi and relays valuable information such as open rate, play rate and engagement data to the seller. (after appropriate disclaimers of course)
The possibilities are endless since the video brochure becomes another touchpoint during the outreach phase driving extreme personalisation and serving as a nudge for the prospects who are on the verge of becoming customers. This technique was successfully used by BillingTree, wherein 60% of the prospects who were sent video brochures reached out, and 5% converted into long-term clients.
Needless to say, that it is the curiosity and personalisation created by this form of ABM that translates to more open rates and higher engagement with accounts.
3. Organising Webinars
Webinars became ubiquitous during Covid-19. Many organisations have actively started using them to educate prospects and existing customers. With the cancellation of industry conferences, webinars are an excellent way for a business to create exclusivity for the account stakeholders it is chasing.
Webinar tools such as 'live polls' can also provide insights into the minds of the buyers. This webinar-based data further drives the ABM strategy to subsequently create relevant content that adds value to the buyer's business and establishes the service provider as a thought leader in the market.
4. Inviting prospects on LinkedIn Live
It took a while for LinkedIn to do it, but in 2019 its Live platform was launched.
Since then, LinkedIn Live has been adopted by several companies such as Salesforce, Automation Anywhere, BCG, PWC, Hootsuite etc. Salesforce launched an eleven-part product series on LinkedIn Live that drew more than 600,000 organic views. Similarly, Hootsuite used LinkedIn Live to announce its strategic partnership with Google back in 2019.
The growing use of the LinkedIn Live platform has made it highly respectable. This has created a unique opportunity for account-based marketing professionals wherein they can engage with their prospects by inviting them for a "LinkedIn Live" talk. Imagine stakeholders from a target account receiving an invitation to be a part of a round table discussion on LinkedIn Live and then being nurtured further to become clients.
Vimeo's "working lunch" event on LinkedIn Live, wherein industry professionals and prospects are invited to talk about business trends is one of the best examples of this sophisticated form of ABM.
5. Implementing Cool Tools for Video-Based ABM & Also Talking to the Experts
Multiple new-age tools in the market can embed video into traditional ABM. Technology vendors such as Vidyard, BrightCove and Wistia enable sales professionals to create a video pitch and email it to prospects at scale.
These technology-backed tools also help marketers collect valuable analytics on the video, telling them about the demographics of the prospect, the duration for which the prospect watched the video and the specific parts of the video, that were watched repeatedly.
There are countless automation tools at a business's disposal; however, incorporating video in ABM can be tricky, considering that there is a large number of tools and strategies available. Too many choices and the inability to identify what is the most optimal one can lead to a situation where a business- big or small, might find itself not being able to catch-up to its competitors.
It is thus an excellent option to turn to industry experts who can do the job and get the results in the form of high-quality engagement with prospects. xGrowth has been powering businesses worldwide to fully leverage different kinds of tools and techniques available in the market cost-effectively and productively. As a strategic marketing partner for companies, xGrowth strives to optimise the existing marketing tools stack for not just video-based Account-Based Marketing but for holistic end-to-end Account-Based Marketing management.
With everything said, we hope this article provides you with the right ammunition to kill at video-based ABM and grow your topline but if you need additional cavalry - contact us now!