Video marketing has become a crucial aspect of businesses’ marketing strategies in recent years. The growth of software as a service (SaaS) video marketing platforms has made it easier for companies to connect with their customers in a more personalized and engaging manner.
According to recent studies, the global SaaS video marketing market is expected to grow at a CAGR of 19.5% from 2021 to 2028, reaching a market size of $7.5 billion.
B2B companies have particularly benefited from the use of SaaS video marketing platforms. Sales and marketing teams can create targeted and customized video content to connect with their customers, resulting in increased sales and improved customer engagement.
Well applied Video marketing strategies can have an impact across the board.
- Video content is preferred over text-based content: A survey by Wyzowl found that 90% of consumers prefer video content to text-based content.
- Video marketing increases brand awareness: A study by Animoto found that 82% of consumers reported having a better understanding of a product or service after watching a video.
- Video marketing drives conversions: A study by HubSpot found that video marketing can increase conversions by 80%.
These statistics highlight the growing importance of video in communication, and why SaaS video marketing platforms are becoming increasingly popular for businesses looking to connect with their customers in a more personalized and engaging manner.
There are an increasing number of vendors providing both integrated and stand-alone solutions targeted to increase customer engagement, whether designed for marketing teams to leverage or providing tools directly to sales teams the range of options continues to increase.
Point Solutions are Converging into Platforms
Video marketing tools are not new but they are converging from stand-alone offerings that addressed only one part of the creation, hosting, or engagement analysis stages of video engagement to provide a complete integrated platform. In our most recent market radar on SaaS Video Marketing/Sales Platforms we compare the capabilities of each of the vendors in the market and how they are evolving their strategies to meet new uses cases for accelerating and improving customer engagement.
Some of the key SaaS video marketing platforms include:
- Wistia: Wistia is a cloud-based video hosting platform designed specifically for businesses. It offers video analytics, lead generation tools, and video marketing automation.
- Vidyard: Vidyard is a video platform that enables businesses to create, host, manage, and analyze their video content. It offers a range of tools to help companies personalize their video content and measure its impact on their target audience.
- Brightcove: Brightcove is a video hosting and management platform that enables businesses to create, publish, and distribute their video content across multiple channels. It offers video analytics and audience engagement tools to help companies measure the success of their video marketing efforts.
- Vimeo: Vimeo is a video hosting and management platform that offers a range of tools for businesses to create, publish, and manage their video content. It also offers video analytics, collaboration tools, and a library of stock videos and audio.
In conclusion, the growth of SaaS video marketing platforms has opened up new opportunities for B2B companies to connect with their customers and increase sales. With the market expected to grow at a rapid pace, now is the time for B2B companies to embrace the power of video marketing and reap the benefits of increased customer engagement and sales.