More than a quarter (26%) of B2B marketers are planning to spend more than £300,000 on video advertising this year.
The stat comes from a recent survey by business networking platform LinkedIn which polled 202 B2B digital marketers in the UK and Ireland between February and March 2018, finding that nearly two-thirds (62%) believe that video should be the primary format.
Furthermore, a large majority (93%) agreed that using video allows them and other brands to embrace creative content opportunities; 62% said it helps them build up brand awareness, while 50% invest in the format to promote products and services.
When exploring different video formats, visuals that displayed products, how-tos and explainer videos were the most popular among marketers. In a separate study on its members, 68% marketers said they would watch a B2B video on the site if it was relevant to their job title.
“Video has become one of the most powerful tools in a B2B marketer's arsenal as they turn to even more creative formats to engage professional audiences,” said Tom Pepper, head of LinkedIn marketing solutions UK.
Despite video advertising taking over, a key drawback is the limited measurement opportunities available. According to the study, 75% of marketers called for publishers and platforms to improve on video targeting capabilities in order to make them more effective for businesses.
"But even the perfect video could be rendered useless if it’s not shared with the right audience, in the right place and at the right time,” added Pepper; “With marketers investing heavily in video this year, it's time they work seamlessly with publishers to overcome these issues and ensure video continues to deliver growth for brands."