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Data shows video now a must for sales to get results (COVID-19 report)

According to data from Vidyard and Demand Metric, it's more important than ever for modern sales and marketing teams to commit to video to get results.

Data shows video now a must for sales to get results (COVID-19 report) Blog Feature

Liz Moorehead

Editor-in-Chief, Speaker, Host of 'Content Lab' Podcast

August 4th, 2020 min read

I moved up the New Haven, Connecticut area from Annapolis, Maryland, to start a new chapter in my life on February 29, 2020. I was so excited. After working over two years as a remote employee for IMPACT, I was finally going to be able to collaborate every single day with everyone at IMPACT HQ.

That night, before we moved in a single piece of furniture into my new apartment, I sat on the floor drinking a beer and taking in the moment with fellow IMPACTers Jason and Dan.

Then I said the following very stupid words:

"Hm, I'm moving in on Leap Day. That's either very good luck or very bad luck. I guess we'll find out!"

Seventeen days later, the office shutdown due to health and safety concerns stemming from the coronavirus (COVID-19) pandemic. So, for the past 141 days since our office closed its doors, virtually every single live work interaction I've had has looked something like this:

Image from iOS (3)-3

Just chillin' with the rest of the IMPACT editorial crew, Ramona and John.

And I can't count the number of recordings I've made for others with Vidyard's free Chrome extension:

Screen Shot 2020-08-03 at 10.19.12 PM

I've used this tool to send feedback on content to coworkers, welcome messages to third-party partners and contributors, to summarize my thoughts about something that I was too lazy to write out, and so on.

In short, in this new COVID-19 reality, my work days are governed by what Vidyard calls synchronous video communication (live video exchanges, e.g. Zoom) and asynchronous video communication (recorded video exchanges, e.g. a Vidyard-recorded screenshare). 

My story, however, is not unique. If you're reading this, you likely relate to some (if not most) of what I just shared. Communicating and doing business virtually and over video is now the norm.

🔎 Related: Vidyard Chrome extension (formerly GoVideo) vs. Wistia Soapbox

But while we've explored this extensively, in terms of how video and remote work have become bosom buddies in 2020, we have yet to talk about what the data points to for sales teams (or sales teams of one), in terms of how they craft their strategies. 

More specifically, what at-home worker remote video habits say about how sales teams should adapt their strategies with video.

So, I decided to crack open Vidyard and Demand Metric's recently published The State of Video in Remote Work (which surveyed 300 working professionals), with a focus on how it should shape our strategies, rather than how we function as individual contributors within our companies.

Video in remote work statistics for sales

While the report itself is brimming with interesting data points, there were nine specific statistics that jumped off the page for me, as I thought about how we craft our post-coronavirus marketing and sales strategies. 

87% of respondents are using more synchronous, 55% of respondents are using more asynchronous video 

In case there was any uncertainty still left in the room, your ideal leads and prospects are now using video more than ever before. Prior to the pandemic, many of us (myself included) were able to side-step using video in our day-to-day work lives due to lack of comfort easily. 

Circumstances have changed, and resistance was (and is) futile. Bottom line, assume your leads and prospects are not only using video, they are also now much more comfortable than they used to be, since they've been doing so for months. 

If the quality of your live virtual demos and video sales calls aren't good, you're going to have a problem

Video quality and technological problems were cited by respondents as two of the top three barriers to synchronous (live) video calls in a work setting. So, if you're a sales pro who has (smartly) embraced virtual selling and video sales call best practices, remember:

  • Never assume your prospect is familiar with the specific platform you use. Yes, more people are using video than ever before, but there are a ton of different providers out there. So, in advance of a video sales call, send a personalized explainer video via email that talks them through how to use your preferred live video conferencing platform.
  • Run through your video sales call checklist every single time. This will save your butt before, during, and after every single call, by making sure you check all the boxes on any technological or quality issue that is within your control. 
  • Just because you can get someone on video doesn't mean it's a guaranteed close for that deal. Brush up on your virtual sales call techniques and strategies to speed up your close rates as a sales rep. (A Pro IMPACT+ account is required to access this on-demand recording)

Asynchronous recorded videos are considered well received by most working professionals

Worried about pulling the trigger on that prospecting email with a video in it or trying to leverage personalized, one-to-one video throughout your sales process? Don't be! In addition to live video conferencing being embraced by the working masses, asynchronous (recorded video) communications are thought of as convenient. 

Why? Well, think about the world we live in. Everyone lives across different time zones and is hopping from one video meeting to another. Asynchronous video communications are super convenient for overcoming scheduling conflict barriers and/or sending messages that don't require immediate back and forth. 

There are a few things you need to know to leverage asynchronous video effectively, however:

Don't just use asynchronous video for prospecting though. Only 39% of respondents in a sales role are using video in that capacity for meeting follow-ups. So, there's a huge opportunity at that phase in the sales process, when you're trying to differentiate yourself from competitors.

There is a direct link between satisfaction with video tools and revenue growth potential

OK, check out this wild set of statistics from respondents:

  • 88% more likely to report an increase in revenue over the past 90 days with recorded videos, if they like the video tool they're using.
  • 31% more likely report revenue increase when using asynchronous video tool satisfaction. 
  • Only 16% report revenue increase when they are dissatisfied with their asynchronous video tool.
  • When someone is satisfied with both their asynchronous and synchronous video tools, they report a 30% increase in revenue.

Bottom line, it's not enough to just use video. You have to be happy, satisfied, and comfortable with the tools you've chosen for both synchronous and asynchronous communication. 

So, do your research.

Is Zoom or Google Meet the right choice for your video conferencing needs? Is Vidyard or Wistia the right call for your asynchronous, recorded videos? Try different solutions. Read reviews. Don't be afraid to make a change if a video solution isn't working, because the data shows it will cost you not to make the switch.

🔎 Related: Honest reviews of Vidyard from real businesses

Finally, hesitancy is still a problem for folks, but don't let it stand in your way

One of my favorite quotes is, "The only thing standing in the way of your greatness is fear." Still, like many of you (and most of the respondents to this survey), fear and a hesitancy to be on camera is the #1 barrier to using video

I can't force you to do make any changes that you don't want to. I can say, however, if you relate to that statistic, I was once in your shoes. I avoided being on camera like the plague. 

🔎 Free IMPACT+ course: Fundamentals of the visual sale

Now? Well, I still cringe a little when I have to watch myself on video. But I don't let that fear stand in the way of making smart business decisions. So, tomorrow, I will be heading in to record videos for our sales and marketing efforts at IMPACT. Which is the same thing I've done at least three times a week for the past six weeks. 

I will also continue to send asynchronous videos to coworkers and third-party partners via email. Even if I'm worried I'm having a bad hair day. 

Given all of the uncertainty we're facing right now — with volatile global economic circumstances and no end in sight — don't let fear be the reason you don't maximize your sales and revenue potential with video.

Your company needs you.

So, run a brush through your hair, find a little natural light, and smash the record button. It's easier than you think, and your bottom line will thank you.

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