We've all heard of the learning curve; the scale and pace at which people retain and remember information. But, there's also a forgetting curve, and people will delete emails and voice mails if they aren't memorable, a big problem for sales people and marketers.
Video Helps Us Remember
What's stickier than video? There's a plethora of academic research on how videos help people learn, and the best performing sales and marketing teams use it too, research from the Aberdeen Group shows. Across KPIs like customer attention, revenue growth and improving the length of the sales cycle, Aberdeen found companies making the most use of video are doing better. The data is only correlative, but still compelling.
Many businesses have already found video quite useful in marketing awareness campaigns and for marketing conversions, but the best in class companies have been successful in using video further along the sales cycle, Aberdeen analyst Trip Kucera found.
Thirty three percent of the best in class companies have used video in helping close a sale compared to a 13% industry average, the "Rich Media for Sales and Marketing: Facts Tell, but Stories Sell" report found.
Additionally, the most able practitioners are making better use of video conferencing, mobile collaboration tools, user generated content and even CRM integrations.
Fight the Forgetting Curve
Fighting the forgetting curve basically puts the learning curve on its head. People learn and remember compelling information faster and for longer periods of time, and people forget menial and unimportant information faster.
The forgetting curve is kind of the opposite of the learning curve, and video helps to cut through that. Because people are a bit inundated with marketing noise these days, using compelling videos can help companies differentiate, the report found.
Videos help make good first impressions, cut through noise, and even make good meeting follow-up reminders.
Furthermore, companies that make use of videoconferencing are also outperforming those who don't by nearly 25%. We often think of these events as strictly internal meetings, but they can also be effective with prospects, the report found. Either way, there are some key tips to keep in mind with videoconferencing. For internal meetings, the system should be easy to administer and set up, and painless for guests to enter.
For using with prospective customers, let them know ahead of time if using video because people are often at different adoption rates with this kind of technology. If they aren't ready for this kind of interaction, it's best not to force it on them, Kucera found. Companies using video meetings achieved higher sales quota attainment over their competitors, he noted.
CRM Integration + Collaboration
Best in class companies are being more collaborative via video, but also integrating systems with their CRMs and making use of user generated content. For collaboration, almost 90% of the best in class companies are using the same platform for both internal and external communications. That's a pretty high number. For comparison, the companies that didn't qualify as best in class only use a single platform about 65% of the time.
Specifically, use of video collaboration like slide sharing and screencasting is much higher in the best in class category. Three times as many best in class companies use this technology as compared to those who don't.
When it comes to integrating content management into a CRM system, best in class companies were 83% more likely to do so over competitors, the report found. Marketing and sales teams are working together more in this integrated space. It's also becoming more collaborative with external communities, and this gives added visibility to any actions and account overviews.
Rich media is powerful for sales and marketing teams, but don't make it gimmicky, Kucera warned. It should also not be a substitute for other valuable media forms, and applied as a panacea.