A Review of Vidyard Video Hosting with Jeff Gadway: One Last Tool 2.3
George Thomas: Hey, One Last Tool viewers. George B. Thomas here. Today, I am super excited because we get to dive into the deep end of video. That’s right. We’re talking to a company based in Canada called Vidyard. If you want to use video for your business, if you want to do video marketing, then this company might be the right fit for you. Let’s go ahead and dive into this week’s One Last Tool interview.
What’s up, ladies and gentlemen? George B. Thomas here with another episode of One Last Tool. Of course, you know I’m excited. I’m always excited because we get to talk about tools and we get to get nerdy and geeky, but we also keep it information that normal people can understand. Today, video, which you know me, I love video. We’re going to talk about video. We’re going to talk about video platforms. I don’t want to spoil it. Jeff, why don’t you tell the people who you are, what you do, and who you do it for?
Jeff Gadway: Yeah. Sounds good. Thanks for having me on. I’m really excited to be here. Like you, I geek out over tools and tech and gadgets and stuff like that, so happy to share. My name’s Jeff Gadway. I lead the product marketing team at a company called Vidyard up here in Kitchener, Ontario in Canada.
George Thomas: That’s super awesome. It’s funny, Jeff. Little side note. Whenever I hear the word Vidyard, I don’t know what to think, but I think of the cool little robot icon. That thing is amazing. Many people might be like I am, where they’re like: Vidyard. What is it? How can we use it? I want to dive into those topics. Let’s start at a 50,000 foot view and just explain to the viewers, the listeners, really. What is Vidyard?
What is Vidyard?
Jeff Gadway: I think to start having the conversation. What is Vidyard? We need to just go even, maybe 75,000 feet for a quick sec and just recognize that the world is turning to video. Video is becoming the preeminent way that businesses are starting to communicate with their customers, their prospects, and their employees. We’re seeing businesses create more and more video than ever before. For marketing, for sales, for support. What they need is a way to manage and leverage that video effectively across their business. That’s what Vidyard does. We’re a video platform for businesses that helps them use video effectively across their business to generate results.
George Thomas: Jeff, I was writing notes there. I love that you talked about customers, prospects, but then you listed a third one, which I really hadn’t thought about. We semi do this, but don’t do this a ton at the sales line, is the employees, that internal communication. I may, as we go through this, ask you specific questions like: That’s the marketing side of it, but how do you use this tool for employees? You just sparked something very interesting in my own mind that I started to think about. Listeners, hopefully you’re thinking the same way.
Let’s dive a little bit deeper. We know video is important. We know it’s communication with customers, prospects, employees. We know that Vidyard is a video platform. How does Vidyard actually work?
How Does Vidyard Work?
Jeff Gadway: Yes. Businesses, a lot of them, are hosting their videos either directly on their website, on platforms like YouTube, increasingly on Facebook, but they don’t have a way to manage that video content so that they can ensure consistent brand experience, that they can put those videos to work for lead generation or lead qualification. Vidyard is a centralized video platform. You host your video on Vidyard. From Vidyard, you can customize that video to turn it into a lead generation tool, add security measures to ensure that only the right viewers are watching that video content, and also push those videos to all the different places that you want to interact with your customers or prospects online. Be it your website, YouTube, Facebook or more.
Really, it’s a centralized place for all things video, but the real magic at Vidyard, the secret sauce, if you will, is the analytics. We’re built on top of an incredibly robust analytics platform so that we can give you detailed analytics on your videos and your viewers. We can tell you how long your videos are being watched down to the second, which sections are being skipped or re watched. Then, down to the individual viewer, we can also tell you who’s watching what and for how long.
For example, George, if you came to our website and watched a video on one of our products, I could see that George Thomas. He watched the video on such and such date for so many seconds, and skipped this part and re watched this part. As a marketer or sales person, that additional insight or digital body language, as we call it, is invaluable in terms of understanding how ready you might be to buy our product. We can take that information and push it into all the other tools that you might be using as a sales or marketing professional, like a marketing automation platform like HubSpot or Pardot, or CRM like Salesforce.
George Thomas: Jeff, that was awesome. There’s so many pieces to that. First of all, folks, if you’re watching this or listening, when Jeff was explaining, George Thomas and this much of the video, and you’re like, creepy. Get over it, because if you can’t measure it, it [don’t 00:06:00] make sense. At this point, you should be measuring it. The other thing that you said, digital body language. Gone are the days, really, where people are coming into a store location. You have that two to three minutes to sell yourself and see that they’re kicking the tires or touching the couch. With video, you can see what they’re really engaged in. Maybe they watched 20% and dumped off. I love the term digital body language. I could nerd out on that for a while. I want to dig a little bit deeper, because so far we’ve said 50,000 foot, 75,000 foot. How does it work? I want to get specific, very specific. Of course, we’ll probably not be like: It’s for Chris or it’s for Dan. I want us to talk about: Who is the best fit for Vidyard?
Who Is A Good Fit For Vidyard?
Jeff Gadway: It’s a great question. Really, I would break this up into a couple of different constituencies if I may. The first is kind of the marketing audience. More explicitly, people in demand generation and marketing leadership. The challenge that they’re facing is: How do I generate more leads? How do I qualify leads more effectively? How do I nurture those leads in a really smart way? Ultimately, as a marketer, and I fall into this camp. How do I prove the connection or the value of the content that I’m creating and the value that it’s creating for my business? The big challenge that marketers have always faced is being able to draw those lines between money invested in this piece of video content and outcome at the end of the funnel. Right?
How much does it generate? What’s the ROI? That’s what Vidyard helps to do, connect those dots between video and revenue. That’s kind of the marketing side. The other big audience that I’d say Vidyard is for, is for the sales organization. Here’s the reason. It’s harder and harder for salespeople to cut through the noise, get noticed and generate responses. Right? That’s being exacerbated by the fact that we all get 100 emails a day and our attention span is now less than that of a goldfish. It’s seven and a half seconds.
How do you cut through the noise and stand out and get noticed? Video is proving to be a really powerful tool. It re humanizes the sales process. No longer are you just sending this cold, template-ized email. We can have a conversation, just like we are here on the podcast, practically face to face through video. Salespeople is the second key audience to help them increase response rates and ultimately drive more business at the top of the funnel.
George Thomas: Jeff, sort of mind blown, because as I’m talking to you … Here’s the thing. I’m not a newbie to video. I’ve been using video and other platforms, YouTube and one to be unmentioned during this interview. When you started talking about the sales, I thought, “Holy mackerel. We have videos in our email signatures. We’re hosting them on YouTube. Why are we not hosting them on a platform like Vidyard where we could actually measure how many people are watching and how much of those email video signatures are they watching?” Dang it. Dang it. Dang it. Dang it.
Jeff Gadway: Here’s the thing, if you allow me to interject. We’re not suggesting that you don’t use YouTube. That would be crazy, because YouTube is the second biggest search platform on the web. YouTube is a channel. It’s one of many channels where your customer, as an audience, will live. We definitely want you to use YouTube. Vidyard can help you get that content onto YouTube. To your point, if people are watching those videos in your signatures, wouldn’t you rather know who’s actually watching them and how long they’re tuned in?
If somebody takes the time and effort to give you their attention, to click on that video and actually watch the whole darn thing, they’re probably pretty likely to want to have a conversation with you. You want to know who those people are watching and who is leaning in, versus who is disengaged and leaning out. It’s going to allow you to be so much more efficient with your follow ups, and also more effective, because you know what to double click on based on what interested them.
George Thomas: Jeff, I love this. I love it. Hey, you’ve got to make sure that your customers, your prospects, are leaning in and then it’s time to go in for the sale, or that next offer, or whatnot. You kind of, sort of, in a way, you did answer that question for sure. Sales and marketing are the two big, great fits for. Then, also you talked about the fact that it solved some problems. We listed, actually, many problems. What I’ll ask you is: If we can sum it up to maybe two to four major problems that Vidyard solves, and then let’s go with that.
What Major Problems Does Vidyard Solve?
Jeff Gadway: Sure. The first problem that Vidyard solves is demonstrating the impact of your video, demonstrating the impact of your video in terms meaningful to your business. Right now video is a black box. We don’t know what kind of results it’s producing because we can’t track the relationship between video views and business that it generates. That’s the first problem, being able to demonstrate the impact and ROI of your video on your business.
Then, the second problem is the sales problem of email open and response rates, and click through rates, and being able to actually cut through the noise and stand out so that somebody can hear your message and be able to resonate with somebody on their wavelength. I think those are the two problems for marketing and sales, respectively.
George Thomas: Jeff, I always like to go with a little scene, both of us in view here for this next question. It’s because, usually people get a little uneasy with what they’re attempting to do. I like that we’re getting a little journey through the Vidyard offices as well, as we’re doing this. You hear all of these things that we can do with the tool. You hear the problems that it solves. You have to ask yourself, and usually people get a little queasy when I ask this. It’s all good, because I’m setting you up a couple questions later to actually be able to spike the ball. With Vidyard, how much does it cost? Is this an arm and a leg? Is it, oh my gosh, we’re never going to get the budget for this? Talk to me about that.
How Much Does Vidyard Cost?
Jeff Gadway: Yeah. There’s a real degree of, a varying degree of cost. We’ve got customers that pay us as little as $500 a month for their hosting and analytics, for all the interactivity that you get through the Vidyard platform so you can change your videos into lead generation machines. We’ve got, like I said, customers that pay us as little as $500 a month. We’ve got customers that are paying us over a million dollars a year. It really depends on the extent to which you’re using video in your business, how much content you’ve got and a number of different factors. I’d say the cost to entry on a video platform is fairly low.
George Thomas: What people need to realize, though, is the cost is much outweighed by the measurement, the analytics, the being able to create leads, lead nurture, all of the things that you’re going to be able to do with the tool. I know that you’re not the only game in town. I’m a Vidyard employee. Who do I actually look out at the world to and say, “Yep. These are our top competitors.”
Who Are Vidyard’s Competitors?
Jeff Gadway: Yeah. It’s a fair question. I’d say the number one competitor, which a lot of people when they have these kinds of competitive discussions, often overlook, is the status quo. Which is, using YouTube. Right? I’m not using a video platform. I think the conversation there is, you don’t know what you’re missing, then, because you don’t know who is tuning into your videos. Is it a competitor? Is it a valid prospect or customer? Is it an existing customer? They’re watching stuff because they are trying to get more value out of your solution. Is it a 12 year old kid who just likes your video? You don’t know who is watching and you don’t know how that content is performing.
Really, you’re not getting a whole lot out of YouTube. There are some competitors in the online video platform space, too, that I’ll mention. There’s one company called Wistia. There’s another company called Brightcove. On the one side, Wistia has a great solution for basic video hosting. I think they’ve mostly grown up servicing small businesses. Where Vidyard really excels, is that we can grow with you. As your use of video outgrows just marketing and you get into some of those other audiences we were talking about, like sales and internal communications support, selling and prospecting with video, wanting to create personalized video content, integrating all of those great insights into your systems of record, like marketing automation platforms and CRM systems. Vidyard is built for that and is really proven in that space. We’ve got hundreds of customers that are doing that successfully, from small businesses right up to some of the largest software companies in the world.
On the other side, I mentioned Brightcove. Brightcove has been in the video game for a long, long time. They’ve been around for over 10, 15 years. They’re pretty established within IT organizations that are really looking for a hosting solution. The latest Forrester Wave report that was produced put Vidyard actually higher than Brightcove from an innovation perspective. We’re really leading the way with all sorts of new and exciting use cases for video, like video selling, personalized video, live streaming, and more. We think we’ve got a lot to offer in terms of helping companies really take advantage of the newest, latest, greatest uses of video across their business.
George Thomas: Jeff, you kind of mixed it in there. What you’re really good … I’m loving this interview because you’re good at answering the question and kind of sprinkling in some salt and pepper and making it real tasty. That was my set moment if you like volleyball. Now, I’m giving you the spike question. You’ve mentioned the competitors. Really, if you have to hone it down to, here’s the two or three things. What makes Vidyard better than your competitors?
What Makes Vidyard Better Than Their Competitors?
Jeff Gadway: Vidyard is going to be the platform that helps you adopt video across your business, from marketing to sales, to support, to internal communications. We have the expertise to help you build a really robust video strategy that’s going to take you into the future. I think, second thing is really around the proven nature of our platform with businesses. We’ve got unparalleled expertise when it comes to video and a team that’s ready to help businesses build the video strategy that is right for them. That’s why a lot of people choose us over some of the other competitors that are out there.
George Thomas: Great, great, great answer. Jeff, I’m going to put us on the other view where we’re together here, because I love being able to see both faces on this. As I’ve journeyed the internet, I’ve found that there’s two types of people. There’s those tech-savvy, super I get it folks, and then there’s the folks that, mmmm, not so much. What are some of the potential problems that one might face when they start using the Vidyard platform?
What Are The Major Problems A Vidyard User May Run Into?
Jeff Gadway: I think it even goes back a little further than that, George. It really starts with understanding the possibilities of video. A lot of times, when we are talking to new and prospective customers, they’re thinking about video in a very narrow sense. They’re thinking about it as a brand awareness tool. They’re not thinking about video as a tool for the entire funnel. I think one of the problems users might run into is just creating great video content that is engaging, and the right type of content for the right stage of the funnel.
George Thomas: Yeah. Listeners, viewers, I need you to rewind that last question, and I need you to listen to that again. Then, rewind it again and listen to it again, because … Just do that. Please. For me. Just do that. Jeff, if people want to reach out to you, if they want to learn more about Vidyard, how can they connect? Where do you want to send them? Give us the details.
Where Can People Learn More About Vidyard?
Jeff Gadway: Yeah. I’m going to suggest that listeners, viewers check out two resources. Vidyard.com has a whole host of information on leveraging video across your business. Best practices. Blog posts. Videos, of course. White papers. Articles. All sorts of stuff to make you a video guru. The second thing I would say, and this is an absolute must do. If you don’t do anything else after this podcast, go to viewedit.com. V-I-E-W-E-D-I-T.com and download our free tool. It’s Chrome extension that allows you to do screen and selfie recording simultaneously. It’s a really easy, one click video recording tool that’s integrated with Gmail, so you can start prospecting and selling with video right out of the box. Right now. It’s completely free. It’s going to change the way that you reach out to customers and prospects, or you speak to people internally, or you give feedback on products. Whatever you do for collaboration and communication, doing it with video is better, and viewed it can help you do that.
George Thomas: People, we don’t mess around here. We just got a tool inside of a tool. I actually looked up viewedit.com right here. As soon as this interview’s over, I’m going to go check it out. People, you should go check it out, as well. Jeff, I just want to take time to thank you for doing the interview. It’s been super awesome and great. A lot of information and knowledge that we’ve had here today.
Jeff Gadway: It’s my pleasure. I really had a lot of fun and hope it brought some value to your viewers. We’re really excited about video and our real mission is to help people leverage video across their business and use video to drive results. Hopefully people have got some good takeaways from this and we look forward to coming on the show again.
George Thomas: Ladies and gentlemen, that is how we do it. No fuss. No mess. Just great tools. Until next time, go out into the world. Grab that tool and do the things that you need to do for your business. Until next time, this is George B. Thomas from One Last Tool.