Why Companies Are Slow to Adopt Video: Video Myths

Video may seem like a routine strategy for most businesses since it’s not a new concept, or a passing fad. It’s an integral part of marketing. But there are always companies that are simply stuck in a workflow that no one is brave enough to upgrade.

Below are five of the biggest myths or perceptions that businesses buy into that prevent them from taking the leap into the world of video—especially personalized video.

Video Myth #1— It’s not relevant to your industry

It’s true that there are some industries that likely saw an immediate need for video when it first became popular. This is especially true for companies that are always part of the early adopters in order to have an edge over their competitors. Companies that implement new technology first will always stand out and be seen as thought leaders.

If you believe that your company won’t benefit from video, check out this stat from Cisco’s forecast and trends:

“Globally, IP video traffic will be 82 percent of all IP traffic (both business and consumer) by 2022, up from 75 percent in 2017.”

Video, and the concept of personalized video in general are relevant to each and every industry. The main thing is to have a tailored, customized video strategy for your company that will bump you onto the right side of the stats.

Video Myth #2— Video is only for B2C, not B2B

Video can be associated with a marketing strategy that is only perceived to be effective for B2C, since consumers are inundated with video ads since they need to be entertained and engaged through personalized and customized video in order to be pulled away from all the noise.

Well, it turns out that B2B purchasers are also heavily influenced by video. This summary of remarkable stats, mentions that 73% of B2B buyers want the same experience online as B2C potential buyers and that 70% of them watch videos as part of their purchasing process. This means that B2B potential buyers want their purchasing journey to be engaging and entertaining and are clearly influenced by the power of video.

Treepodia CEO Weighs in on Three Important Video Myths

Tal Rubenczyk, Treepodia CEO, has noticed some popular video myths of his own that he has encountered over the course of the years that he has worked in video marketing  and e-commerce. He noticed that the slow adopters tend to fall into three main categories, which are explained in the final three video myths.

Video Myth #3— People are afraid of change

The concept of companies being afraid of change is not uncommon. Workflows become perfected, employees have their roles mastered and the business works at a familiar pace. But when new concepts or technology come into play, many companies worry about having to rethink their processes—which includes incorporating video into their marketing strategy.

“It reminds me of the first days of e-commerce,” explains Rubenczyk. “Traditional brick and mortar shops could not figure out what it is and why it’s helpful. Those who waited too long simply lost business.”

He advises companies to adopt concepts or technology that are going to be mainstream in the future, even if they are afraid to do so. “Video is surely one of them,” he added.

Even more so with video, since it’s really front and center in the present, and in order to keep up with the advancement of video, it’s best not to postpone the inclusion of video in your company before you fall too far behind.

Video Myth #4— Perceived high cost

Video is a way to streamline your marketing message and it can even cut costs. The effect of one personalized video is far more powerful than a bunch of static ads that cost time and money to design.

Rubenczyk says that the cost of adding video to your site is not as expensive as people assume, plus the high ROI on video is well known.

The stats show that 87% of marketers use video, and viewers are 95% more likely to remember a call to action compared with text. The high ROI of video outweighs any video marketing costs—which can be tailored to any budget. Companies can hire a video marketing company to get their company on the map with just one or two video campaigns that won’t eat up their marketing budget, according to Rubenczyk.

Video Myth #5— Too time consuming

Businesses don’t have to start with hundreds of videos in order to integrate them into a new workflow. Rubenczyk says that there is a perceived notion that video is just too time consuming. In reality, a video marketing company can look after the video needs of a business by finding out a their goals and target market, and then use advanced technology to create even just one or two videos, or video campaigns and then monitor the progress for them.

This allows a business to focus on the urgent tasks that need their attention, without stressing about finding time to dedicate to video. Companies with little experience using video may feel overwhelmed since they don’t realize that one or two tailored videos, strategically marketed by an experienced video marketing company can help ease them into the next phase of their business.

Knowledge is Power

All of the video myths discussed seem to exist for the same reason: lack of information. The early adopters and the forward thinkers always have an advantage. They are not afraid to take the leap into uncharted territory and they make a point to find out as much information as possible. Don’t let your company fall behind because you haven’t figured out how personalized video can fit into your industry. We are here to help!