Acerca de

How B2B technology and manufacturing organizations can increase revenue with the use of video

 

“Nothing happens till something is sold” (Joe Morone, The Smart Sales Method).

 

In the high-ticket world- sales comes down to generating a lead and leading them through the funnel towards a closed deal.

 

The ever-increasingly competitive market has brought advancements in the strategic and technical methods of doing this.  Every effort your sales and marketing teams make can be labeled with objective measures of success such as opt-in rates, response rates, conversion rates, and ultimately- sales.

 

These advancements come when one or more industry leaders realize there is a better way of doing things.

 

For many reasons- the use of video has been designated as a marketing activity.  We call it a piece of “creative” that is meant to “build the brand” or “tell its story”.

 

This is why 99% of agencies will never give you a guarantee of results, and avoid talking ROI at all costs.

 

From now on, throw away the term “video marketing”.  If you want to benefit from the PROVEN strengths of videos to increase your organizations revenue, think in terms of producing “Sales Assets”.

 

As we know, the two main reasons you would invest in capital equipment is because it’s use would either increase your revenue or reduce your total cost of operation.

 

When done right, strategic video content assets can do both of these things in very specific ways.

 

Do these videos look like your average 4-minute “Corporate overview video”?

 

The numbers would tell us no.

 

Some reasons this would be a poor investment:

• Your sales team will use

• They almost NEVER have a defined use case besides sitting on some sub-page in your website

• Statistics suggest very few prospects will actually watch the video

• They typically do not utilize proven B2B messaging techniques

 

If this is the case- why do we see so many of these?

 

The sad truth is that they are easy to make, extremely lucrative for the creative agency, and they do a great job of stroking the clients ego.

 

So how do we do video the smart way?

 

At the end of the day, video is a medium of communication.  It is akin to text or images, but absurdly more powerful.

 

What is video NOT? It is not a system in which itself can save a failing business.

 

To get the most out of video, you need to have established systems and use cases in which to INJECT its use.

 

Below is a simple, hypothetical sales funnel for a standardized automation solution

 

This hypothetical organization is selling a turn-key system for $60,000.  One of their campaigns involves cold emails to a list of 4000 highly qualified leads.

 

For their text emails, they are seeing a response rate of 2%, and booking meetings with 12% of the repliers.  With a 25% close rate, they can expect one closed deal from this campaign.

 

This 2% is using 1-3 emails consisting only of text.  The best cold email campaigns can see response rates of 7%+.  Let’s say that a strategically placed video increases their reply rate to 5.5%.

 

What the 😳

 

Now, keep in mind that this company did everything right.  

• They had an all-star closing team

• covered all the bases with cold email best practices

• Had a value-prop that was suited to show with video

 

As a second exercise, what if they don’t implement video anywhere until they are having direct conversation with the prospect?  Let’s say they produce some videos to pull out during sales meetings to help more effectively convey the value of their solution.  Along with the cold email outreach, they are also running newsletters for lead gen and some light online ads and SEO 

 

 

 

When all is said and done, what happens if they are able to bring their close rate up to 20% with these new selling tools?

 

 

As you can see, it comes out to determine EXACTLY where and how video can be used to increase lead gen and closing rates.

 

Some real world examples we’ve seen:

 

• New Scale Technologies sees 2x clicks in their newsletters that include a video

• Their sister company, New Scale Robotics reports 6 ultra-qualified demo meetings came from showing a case study video filmed at one of their clients.  They also claim EVERY SINGLE ONE of their high-ticket sales involved sharing a video at some point in the sales cycle.

 

Their team gets it.

 

• Z-AXIS has included a new video in each monthly newsletter for over 3 years.  They have seen _____

 

• The Rochester Technology and Manufacturing Association reports a grant of ____ was instantly approved when opting to show a video rather than a typical slide deck at their presentation.

 

• Sitting in on the sales meeting, I watched a B2B sales coach close a $6,700 training course to a local manufacturer after showing them an applicable video demonstrating its value.

 

So far I’ve shown you examples on the conversion side.  For lead gen on the other hand video can:

 

• Increase your Linkedin engagement rate (New Scale Technologies reports 4x compared to text and images)

• Increase your ad effectiveness

• Increase total leads and interest gained from demo events and trade shows

 

“People don't like to be sold-but they love to buy”  

 

Video is content that they can choose to consume as part of the buying process, enabling them to make the best decision for their company.

 

More stakeholders are involved in the buying process

 

Only 7% of sales people say they end up selling to a single decision-maker.  Most of the time, you either have to meet with several stakeholders at a company or rely on one of them to convey your value proposition to their higher ups.  The odds are they won’t do it as well as you can.

 

Instead, give them a video they can share.

 

How we can help

 

1. Strategy and research

 

Together, we will examine your sales funnel and potential customers' buying journey to see where video can best facilitate new deals.  This may include meetings with your sales team, marketing team, and executive leadership.

 

From this, we will determine which videos your organization can best utilize and draft a document of standard operating procedures. This will insure your team has a documented, repeatable process for ways to best use your video assets.

 

1. Producing

 

We will put together video outlines and scripts to pitch to your team.  Once approved we will film on side or produce remotely if applicable.

 

1. Implementation

 

When your video assets are finalized, we will work with you to set up everything on the technical side.  This includes setup for optimal analytics tracking, as well as any necessary consulting to ensure your team executes on the SOP’s.

 

1. On-going support and refinement

 

Thanks to modern analytics platforms, we can see EXACTLY how your videos are performing.  Under certain parameters, you will be able to see which specific prospects are engaging with your videos, and how long they are watching them.

 

This means if necessary, things can be tweaked and edited at any point to achieve the best results.