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Marketing a Software Product with Video: Spend Less, Sell More

Using video to market software is no-brainer. That’s my expert* opinion* and there are a few great reasons why:

  1. Video allows you to quickly and concisely deliver the high-level value proposition of your software.
  2. Video can engage viewers & build excitement: helping to make the purchase decision emotion-driven
  3. Video promotes your software product or service and explains it’s benefits all 24 hours a day and with global reach, just like a virtual sales force. In fact Sales Force claims that their video content gets 7.5k views a day, which equates to 46 hyper-efficient sales reps (doing the math: If you only got approx 160 views a day that would equal one full-time sales rep!). Don’t believe me, check out the video

  1. Video also allows prospective customers to become educated about deeper features and evaluate for themselves without expensive site visits.
  2. Educational video content lets you dive deeper into process/feature specifics and show existing users how it works (saving you time and money on support).
  3. Once you produce the content,  it can work for you for years!

In short:  Video is the most time and cost-effective way to show & tell the world what your software is all about.

That’s a lot of nice reasons to use video but here’s my reasoning for why it’s a ‘no-brainer’. It starts with the premise that video can and should be used to effectively engage audiences and communicate messaging for multiple stages of the sales cycle (awareness, education, conversion, support). I find that for many companies, the biggest barrier is still cost and measuring the return on investment. With most marketing videos costing between 5-50K,  they want to make sure their investment is worth it, and that makes good sense. I think part of the problem is that marketing video is frequently doing more than just marketing. It’s my opinion that this focus on ‘micro-measurement’ is a bit to narrow.

The web and economy have us all more focused on analytics now but video analytics are still in their infancy, and some things will always remain somewhat untrackable (branding). The good news is that it is now possible to track things like video email campaign conversions – for example, by using an offer on a video landing page.  But it’s not easy to determine how a video might have helped shorten the sales cycle for a particular customer.

I just don’t think it’s that simple because video is typically working several dimensions at once. Software marketing videos are frequently serving as a sales person, a slideshow, a-proxy for an in-person visit, social media content, SEO piece, a tech support role, etc.  If you were to combine all the approximate costs of your sales, marketing, tech support and SEO efforts, I’d imagine carving out  a small investment in a video solution that contributes in some way to all of these areas would be worth the investment.

A great place to start is by looking at how much a typical customer is worth to you over a ‘lifetime’. By then looking at video views stats, website stickiness, comments, social sharing, and by thinking about how your team uses the video to share with prospects, partners, etc. –  after some time, I think you will be able to get a picture for what the video has done for you.

That’s my take but I’d love to hear from you. How do you think it makes sense to evaluate a video solution for software marketing? What questions do you have?

If you found this helpful please share, ‘like’, and follow below. Really, please do!

Dane Frederiksen
Principal
Digital Accomplice

dane@digitalaccomplice.com
www.digitalaccomplice.com
@DrDane

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