How Video Marketing Is Changing B2B & B2C Marketing
There used to be a time when the internet was all about static images and slow websites. Fast forward to 2020, and you get to see an altogether different internet experience with video dominating the online landscape. Today, video has become the foremost medium for brands to spread the message across, and video marketing has become the de facto choice among online marketers.
This development is making video the preferred content-type for online marketing and is getting used by both B2B and B2C marketers.
Benefits Offered By Video Marketing
Video may have been around for a while, but there are businesses that are still plagued by doubts about getting video marketing implemented. Here we look at the benefits video offers to both B2B and B2C marketers:
- Increases Brand Awareness: The best way to grow your customer base is by reaching more people who recognize who you are and what you do – without getting lost in the crowded marketplace. Video precisely helps the brand to convey their core values and increase your exposure to potential customers through informative and entertaining videos that allow for improved brand recall.
- Immersive Experience: Video marketing combines images, brand messaging, music, and script to tell a story. This creates an all-round experience that lowers the barrier between the brand and its audience. A video lasts a few seconds and gives the audience a multi-dimensional idea about the brand and its attributes which is lacking in 2-D advertising. Videos allow a brand to tell a story and deepen the connection with existing and potential customers.
- Return on Investment: A great majority of online marketers agree to the fact that video performs better than any other content in converting the audience. This supported by research that suggests that 80% of video viewers recall brand-specific video advertisements and 46% among them took action based upon the brand message in the video.
- Cost-Effective Solution: When it comes to online marketing strategies, a paid search can be effective but comes with a high price tag. On the other hand, video advertising on YouTube is known to cost less than a dollar per view. On other platforms like Facebook and Instagram, video advertising will cost you pennies. This makes it a cost-effective solution that does not require a substantial marketing budget.
B2C Video Marketing
Video marketing is no doubt changing the face of B2C marketing; let’s take a look at how:
- Customer Review Videos: Consumers today no longer believe in advertising; rather, they go by reviews and testimonials by satisfied customers. Earlier written reviews used to get the job done, but not any longer. The audience today is more geared towards watching video testimonials on YouTube made with YouTube intro maker, which offers the necessary social proof for a skeptical audience.
- Product Based Videos: Product videos that showcase the product do not really serve the purpose anymore. Today videos have to be created with an angle that shows how the product can get integrated into a lifestyle. Brands have to show how a brand can improve the life of the customer, and videos are the best medium to convey that message.
- Sales and Discount Videos: A brand that is planning for a big sale would be best served by creating video content that gets the message quickly across to the targeted audience. Such videos are known to have to best impact if they are longer than 2 minutes, which is considered the optimum length.
- Influencer Marketing: This is all about partnering with a known influencer to create videos that would have an eager and available audience for easy consumption. This one of those strategies that is known to outperform others. This is gaining traction due to a simple reason that it works both ways, it improves the influencer’s standing among his audience, and the brand gets to create content that is attention-worthy.
- Unboxing Videos: Introducing a product into the market is best done through unboxing videos. This involves an element of influencer marketing wherein a vlogger or YouTuber is given the privilege and exclusive access to a new product. It is quite a popular practice on YouTube with close to 90,000 people doing unboxing every month. There is a keen set of audiences that look forward to these exclusive reviews.
B2B Video Marketing
It is a notable fact that B2B companies were late to the video marketing bandwagon compared to B2C companies who were rather quick to exploit the available opportunity. Let’s see how video marketing is changing B2B marketing:
- Sales Funnel Based Videos: This can be especially helpful in driving long-term sales cycles when they are implemented with careful consideration of the big picture. For instance, there can be videos made for each stage of the funnel – top (awareness), middle (conversions), and bottom (customer retention). These videos must be made with a suitable outro maker allowing the audience to continue watching videos associated with the brand.
- Live Videos & Webinars: This is a great way for a B2B company to connect with its core audience. It is one of the most effective ways to get the message about a product or service in a video format. Next, there are webinars, which are by far the easiest to produce, by using tools like Zoom, you can record a presentation and convert it into a webinar replay. These videos can be then added to YouTube or your website.
- A Blog to Video: This is mainly done by companies which have a long-running blog that serves for ready-made content for business videos. They would recycle their old posts and come with an interesting set of videos that can readily gain an audience. The brand would then upload these videos on YouTube and other social platforms like LinkedIn to reach a targeted audience who would possibly gravitate to the brand after watching these videos.
There is no doubt about the fact that video marketing is changing the way marketing is getting done. If a brand is not doing video marketing, it is missing out on a lot of emerging opportunities. It is estimated that by 2021, video is going to make 80% of all internet traffic. Hence it becomes imperative for all brands to have a coherent video marketing strategy in place as the future belongs to video.
Explainer: Commission proposes to expand digital tools in EU company law
What are the objectives of the Commission’s proposal?
This proposal aims to cut red-tape and improve transparency and trust in the business environment in the single market. It will achieve more digitalised and connected cross-border public services for companies and reduce the administrative burden for companies carrying out cross-border activities, in particular for SMEs.
How will it help companies?
The proposal will significantly reduce administrative barriers when companies use company information from business registers in cross-border situations, including in administrative or court procedures:
- When companies set up subsidiaries or branches in another Member State, the proposal will ensure the application of the “once-only principle”. This means that companies will not need to re-submit the information already available in their business register, and business registers will exchange that information through BRIS.
- Companies will be able to use a multilingual EU Company Certificate to provide essential information about their company, e.g., when taking part in public tenders, in the context of tax or authorisation procedures or when applying for funding in another Member State.
- Companies may use a multilingual model for a digital EU power of attorney to authorise a person to represent the company in another Member State.
- Companies do not need to obtain an apostille on certified documents or information from business registers, and on certain notarial documents, when such documents are presented in another Member State.
- The proposal reduces the need for certified translations of company documents or information provided by business registers.
How much will the proposal reduce the administrative burden on companies?
By making more company data publicly available in business registers and at EU level through BRIS, and by improving the reliability of such information, the proposal will reduce the overall administrative burden on companies and in turn facilitate access to finance and the creation of businesses. It will apply to around 16 million limited liability companies and 2 million partnerships in the EU.
Companies planning to engage in cross-border business activities, or to create cross-border subsidiaries or branches, will benefit from recurrent annual savings (administrative burden reduction) of around €437 million per year thanks to administrative simplification, including the application of “once-only principle”, abolishing the apostille, and introducing an EU Company Certificate.
How will it help small and medium enterprises (SMEs)?
SMEs account for 98-99% of limited liability companies in the EU, and around 40% of SMEs are engaged in cross-border activities and operations or cross-border investments. SMEs in particular will benefit from the reduction in administrative burden and increased legal certainty, and also from easier access to company information, as they have less financial and administrative resources than large companies.
This proposal helps to make it easier for SMEs and start-ups to expand and scale-up cross-border in line with the 2020 SME Strategy for a sustainable and digital Europe and the EU Start-up Nations Standard.
How will it improve transparency in the business environment?
The proposal will make more information about companies publicly available in particular at EU level through the Business Registers Interconnection System (BRIS). It covers important information for investors, creditors, consumers and authorities about:
- groups of companies,
- single shareholders of single-member companies,
- the place of central administration and the principal place of business of companies,
- EU branches of non-EU companies.
It will also make searches for information about companies in the EU easier by allowing a search through BRIS and, at the same time, through two other EU systems interconnecting national beneficial ownership registers and insolvency registers, while respecting the existing rules for access to each system.
How will it improve trust in the business environment?
First, the proposal will improve reliability of company information in business registers across the EU and thus ensure that such information can be trusted in cross-border situations. In particular, the proposal requires Member States to ensure that:
- administrative or judicial control, as well as a legality check, of the instruments of constitution takes place when new companies are created and in case of any changes to those documents;
- uniform checks of company information (e.g., checking legality of the company’s name, object) are carried out before the information is entered in business registers.
Second, the proposal will ensure that company information in business registers is up-to-date by:
- asking companies to make timely updates of their information in business registers, and to confirm once a year that the information is up-to-date;
- asking business registers to make new information received from companies publicly available as soon as possible;
- ensuring that sanctions are applied where companies do not file information or file it late to business registers.
How does this proposal relate to the existing company law framework?
The proposal respects the different legal traditions and systems in Member States, including the possible involvement of notaries in company law procedures, and does not aim to modify them.
The 2019 Digitalisation Directive ensured that company law procedures can be carried out online, and in particular that companies can be set up online. This proposal is complementary and provides for the second step of digitalisation of EU company law. It focuses on increasing the availability of company information, in particular at EU level, and on removing administrative barriers when companies and public authorities use such information in cross-border situations, through the use of digital tools and processes.
It does not introduce new systems but builds on existing ones, for example on BRIS that is operational since 2017 and connects all Member State registers. It is also in line with EU rules on electronic identification and trust services (the eIDAS Regulation and its ongoing revision to establish a framework for a European Digital Identity).
European Security Spending to Grow 10.6% in 2023, Driven by the Financial Sector
Growing security needs, new regulations, and the increasing risk of ransomware attacks due to the current geopolitical situation continue to drive European security spending. According to IDC’s Worldwide Security Spending Guide, total European spending will grow 10.6% in 2023. Spending in the region will continue to see almost-double-digit growth over the forecast period, with total spend reaching $71 billion in 2026.
The U.K., Germany, and France are the top spenders on security, together accounting for over half of the European security market. In Central and Eastern Europe, Czech Republic will have the fastest growth in 2023, at over 12% YoY.
“IDC research shows that ongoing disruptions and a dynamic threat landscape have led European organizations to rethink their cyber resilience and proactively ensure their organization maintains good cyber hygiene,” said Romain Fouchereau, research manager, IDC European Security. “Adopting zero-trust principles to harden security measures and implement secure access controls across networks, applications, and devices has become a top priority, with a defined strategy and support from senior management for new investments and initiatives.”
European spending on software will lead YoY growth in 2023, with approximately 11% YoY growth, but security services will see the largest spending in 2023, reflecting its key role for European organizations across industries.
“We’re seeing that in addition to software and hardware, European companies also have a very real need for security services to guarantee their continued operations and regulatory adherence,” said Vladimir Zivadinovic, senior research analyst, IDC European Data and Analytics. “This is especially true for organizations with limited competencies in security, especially SMBs in less digitally mature verticals such as media, manufacturing, and healthcare.”
In 2023, the finance sector will have the highest spending in Europe, driven by the need for data protection and regulatory compliance. At the same time, market dynamics are pushing financial institutions to increase their responsiveness and agility. Security services will be pivotal to unlock the full potential of their internal IT teams to focus on new services and improved customer experience.
Finance will be closely followed by manufacturing, with the government sector having the third-largest spending in 2023. Manufacturing will continue to focus on protecting its industrial assets, which will be increasingly connected with the enterprise IT network. The government sector will continue to invest in data protection and in executing its digital transformation initiatives, which are being targeted by ever more sophisticated ransomware attacks.
IDC’s Worldwide Security Spending Guide quantifies the global revenue opportunity for both core and next-generation security purchases with detailed forecast data for security spending by 20 industries across nine regions and 44 countries.
Lemon peel, flax fibres hold keys to eco-friendly car parts
Natural materials including farm waste can make autos and other industries more sustainable, less toxic
By HELEN MASSY-BERESFORD
Think of the car or construction industry and lemon peel, corn starch and almond shells hardly come to mind. Yet manufacturers may rely increasingly on such raw materials as Europe seeks to reduce waste – from both agriculture and plastics.
New high-performance industrial materials from farm waste emerged from the BARBARA project, pointing the way to stepped-up innovation in the European bioeconomy.
Funded in a partnership between the EU and the private sector, the project used agricultural residues including lemon peel, corn starch, almond shells and pomegranate skins as additives for biopolymers, which occur in living organisms such as plants and can be used in manufacturing.
The result: prototypes of car parts and construction moulds made using the 3D printing expertise of Spain-based Aitiip Technology Centre.
‘The most exciting thing from our point of view is that there are no residues, only resources,’ said Berta Gonzalvo, research director at Aitiip, which coordinated the three-and-a-half-year project. ‘Automotive and construction pieces have been successfully validated, demonstrating that a circular economy is possible and contributing to reducing environmental impact.’
The EU is spurring the development of products derived from materials of biological origin, part of a push not just to cut waste but also to reduce emissions of carbon dioxide and to make industrial goods safer.
The EU bioeconomy has been expanding for a decade, reaching €2.4 trillion in 2019, and has further growth prospects, according to an October 2022 study.
In a sign of the high expectations for bio-based industries, the EU in 2014 established a €3.7 billion joint undertaking with them to spur research in the field. This was followed in 2022 by a €2 billion initiative with players ranging from farmers to scientists to overcome technical, regulatory and market barriers for bio-based products.
The EU produces around 60 million tonnes of food waste and 26 million tonnes of plastic waste a year.
Making industrial materials from renewable sources including waste is set to become increasingly important and projects like BARBARA are just the beginning, according to Gonzalvo.
When BARBARA began in 2017, only one biopolymer was available for 3D printing. The project increased the number of bio-based materials using a combination of industrial biotechnology, nanotechnology and advanced manufacturing technologies.
It came up with new processes for the extraction and use of compounds such as natural dyes, biomordants that fix dyes, antimicrobials and essential oils from pomegranate, lemon, almond shells and corn.
Doors and dashboards
BARBARA created eight materials containing pomegranate and lemon pigment, pomegranate biomordants, lemon fragrance and almond shell that could be used instead of existing plastics. The new materials led to different colours, aromas, textures and antimicrobial properties.
The 11 partners also printed prototype door trims and a dashboard fascia for the car industry as well as a mould for truss joints for the construction sector.
The new materials have better mechanical, thermal and even aesthetic properties.
As a result, they can be used to improve the quality of the end material, even adding a colour or fragrance.
While the project has ended, the participants hope the technology can move forward to the demonstration phase within the next four to five years. That would show the possibilities for large-volume production.
With the global biopolymer industry growing 6% a year and the European sector expanding 30% annually, Gonzalvo said the EU is in a prime position to lead the way.
‘We are one step closer to a real circular economy,’ she said. ‘Waste can be a resource and not just waste.’
On the plastics front, the research outlook also looks promising.
In Europe, only 14% of plastic waste was recycled domestically in 2020, according to the European Commission. The remaining 86% was incinerated, landfilled, littered or exported, highlighting the need to establish a more sustainable system.
With production of plastics set to increase in the medium term, reducing their environmental footprint is all the more important.
The ECOXY project, funded through the same public-private partnership as BARBARA, looked for bio-based alternatives to plastics known as “fibre-reinforced thermoset composites,” or FRTCs.
While FRTCs are light and strong, their green credentials are lacking. Besides being derived from fossil fuels, they can’t be recycled and are often made from toxic materials including an endocrine-disrupting chemical compound called bisphenol A.
‘Fibre-reinforced composites are being used more and more, so these bio-based composites should be able to substitute them in all the fields where they are used,’ said Aratz Genua, a researcher at CIDETEC, a Spanish institute that coordinated ECOXY.
The project, which ran in parallel with BARBARA, included a consortium of 12 research and industry partners from across Europe.
They took as their starting point materials deemed to comply with the three Rs: recyclable, reshapable and repairable. While these 3R materials had already been patented by CIDETEC, they had a downside.
‘We had made it more sustainable, but we were still working with products derived from oil and the most commonly used one is derived from bisphenol A,’ said Genua. ‘We had the opportunity to go one step further and make it more sustainable by using bio-waste to create bio-based FRTCs.’
The consortium looked to lignin, derived from wood and plant fibres. It used bio-based resin from lignin with flax fibres as a reinforcement to manufacture a demonstrator, in this case the backseat panel of a car.
‘Being able to upscale and manufacture a demonstrator was really good,’ said Genua. ‘We started with small quantities of materials, and we have shown that these are usable at an intermediate scale.’
The real challenge was to make sure the new material would have comparable properties to the ones currently in use.
Bio-based resins demonstrated very good properties, equivalent to those derived from fossil fuels, according to Genua. But there is room for improving the strength of the flax fibres.
Future research could include exploring the use of bio-based carbon fibres, also extracted from lignin.
‘We will continue working on the development and optimisation of bio-based 3R resins for different applications,’ Genua said.
For example, the EU-funded BIO-UPTAKE project is working on ceiling panels for the construction industry.
‘In these cases, not only flax fibre but also bio-based carbon fibre will be used,’ said Genua.
In the short term, the new materials are better for the health of workers handling them during manufacturing.
In the long term, the environment will benefit thanks in no small part to the resulting reduction in waste.
Research in this article was funded via the Bio-based Industries Joint Undertaking (BBI JU), which in 2022 was followed by the Circular Bio-based Europe Joint Undertaking (CBE JU). The article was originally published in Horizon, the EU Research and Innovation Magazine.
George Orwell, The Animal Farm – Book Review
Eric Arthur Blair (George Orwell) wrote one of the finest classic political satires, “The Animal Farm”. It was published in...
The ICC acts naively in foreign affairs
On March 17, 2023, Pre-Trial Chamber II of the International Criminal Court (ICC) issued warrants of arrest for two individuals...
Chinese State Council report on human rights violations in the U.S. and around the world 2023
On Tuesday, March 28, 2023, the Chinese State Council Information Office issued a report on human rights violations in the...
Shedding light on the Sun
As questions abound about the Earth’s closest star, scientists are seeking answers critical to forecasting solar flares that threaten satellites...
Biden is preparing Americans to lose the Second Cold War?
Vladimir Putin’s approval rating is 82%. Joe Biden’s is 42%. Xi Jinping’s is anyone’s guess, but the Chinese near-unanimously trust...
Riyadh joins Shanghai Cooperation Organization
Saudi Arabia’s cabinet approved on Wednesday a decision to join the Shanghai Cooperation Organization (SCO), as Riyadh builds a long-term...
What does the Arctic Ocean hold for the world in changing global politics?
“The Revenge of Geography: What the Map Tells Us About Coming Conflicts and the Battle Against Fate”, a book by...
Economy3 days ago
U.S. Is Threatening to Default China Debt Repayment, What Will Beijing Do?
World News4 days ago
FT: Is France on the road to a Sixth Republic?
Economy4 days ago
Marriage of Sanctions Convenience: Russia Rethinking the EAEU Role
Russia4 days ago
How Russia Can Build Relations With Friendly Countries
Finance2 days ago
U.S. bank trouble heralds The End of dollar Reserve system
Finance3 days ago
Mastering Writing Skills: Write Effectively for Academic and Professional Success
Europe3 days ago
Why Europe Must Do More to Support Ukraine
Terrorism3 days ago
The Afghan Foreign Minister Is Wrong About ISIS: It Threatens Regional Security