ReviewThatPlace.com - Success Story
Digital Solutions Company Uses AI Avatars to Boost Proposal Engagement by 760%
Oct 2, 2024
Global Software Company Drives Quality Leads and 6.6x ROI with Video
Key Results from Using Vidyard
32%
of New Opportunities Influenced by Video
6.6x ROI on Platform
ROI on Platform
Investment
100%
Won Opportunities in APAC Influenced by Video
Overview
Chasing Video ROI
Since winning GE as its first client back in the 1990s, Zycus has relied on innovation, quality, and a passion for its customers’ happiness to grow its global brand and customer base. With its business fueled entirely by organic growth, Zycus’ 1,200 employees today operate out of offices spread around the world. The company’s award-winning products consistently rank as leaders by respected industry analyst firms such as Gartner and Forrester.
Early to embrace video, Zycus’ marketing team has long understood the power of this medium to engage prospects. But the marketing team grew frustrated that their sizable video investments were not generating the desired return on investment (ROI).
Since moving to Vidyard, the company is getting the most out of its video investments, generating more high-quality leads, closing more sales deals, and realizing higher ROI. Other teams, inspired by marketing’s success with Vidyard, have jumped on the bandwagon and now use video to communicate more effectively with Zycus’ prospects, partners, and customers.
Challenge
Prospects Were Slipping Through Their Fingers
Zycus is highly respected for its sales and marketing capabilities. Organized around a central marketing hub and supported by content-creating product teams, marketing messages and content is delivered and domesticated worldwide by various go-to-market teams serving multiple local markets.
In keeping with the company’s innovation strategy, Zycus’ marketing team were early adopters of video. The company has been generating video content—everything from on-demand webinars to executive interviews, to product demos—for the last five years, with much of that video hosted until recently on the company’sYouTube channel.
But there was a problem. While videos on the YouTube channel were generating thousands of views, Zycus’ marketing team wasn’t able to capture leads from that activity. Even more troubling, YouTube visitors viewing Zycus content would be offered up an unrelated (or worse, a competitor’s) video.
“With no embedded call to action (CTA) on our YouTube video content and no way to capture those leads, we were letting prospects slip through our fingers. We felt unable to control the process,” says Ashish Agarwal, Head of Digital Marketing and Strategy for Zycus. “We were investing huge money in our external video content provider and were starting to regard it as a lost investment.”
Frustrated, Agarwal and his team began searching for a new enterprise video platform.
Solution
6.6x ROI on Campaigns Using Video
A search of available enterprise video solutions led the team to Vidyard, but the team was unsure of the platform’s abilities to drive a real difference. That is until they started seeing Vidyard’s name pop up time and again in candidate’s resumes.
“We had all these people applying to us from competitors and noted that many had Vidyard on their resume. That gave us confidence that the platform was out there and widely used,” explains Ashish.
Prospects Are Well-Educated and Ready to Have a Conversation
Initially, the marketing team viewed Vidyard as a substitute for YouTube. Existing videos on YouTube were classified and uploaded to Vidyard’s platform. The marketing team also created Vidyard landing pages and distributed them to go-to-market teams who, in turn, used these pages to share localized video content with translated subtitles and incorporated video into email campaigns. “We started averaging 40-50 additional higher quality leads per month from videos on our website. We also heard from sales that the prospects were better informed, higher quality, and more ready to have a conversation.”
Then, the marketing team started to organize video content around specific product lines and topics using Vidyard’s video hubs and began incorporating video with lead forms into various blog articles.
“Vidyard is very logical to use. It makes it easy for us to organize various forms of video content, from product demos to customer stories, to thought leadership into these hubs to serve our teams. And we were suddenly able to take passive blog content and turn it into another direct lead generation tool,” says Ashish.
Today, Zycus’ product marketing team regularly produces video content to keep the global marketing machine firing on all cylinders. They now use video for product demos, new releases, and product messaging. This content is then pushed out to local go-to-market teams to anchor email and paid demand generation campaigns. Using Vidyard’s Pardot integrations, Zycus’ marketing team is able to use video view data in their lead scoring model to identify high-quality leads and determine those prospects who are highly engaged with their video content.
An internal study of 53 opportunities looked at Zycus’ various customer touchpoints and examined the behavior of different contacts. Specifically, the study looked at a contact’s interaction with video.
“We found that whenever we used video in a campaign, we experienced a 6.6X return on investment (cost of video spend vs. size of sales opportunity),” says Ashish.
Video Reaches Every Corner of the Enterprise
Riding on the central, product marketing, and go-to-market teams’ wave of success with video, other Zycus teams began experimenting with the platform.
Zycus’ partner marketing team has created individual partner video hubs and also shares specific playlists to meet each partner’s needs. This tailored content helps with training and onboarding.
Zycus’ business development reps (BDRs) use video for bottom-of-the-funnel campaigns, sharing relevant product information videos and demos tailored to each prospect based on the assessed requirement of that lead.
The company’s pre-sales team blend product and domain knowledge and use Vidyard to create highly targeted content for new customer acquisition, to respond personally to prospect inquiries, and to record specific short product demos that serve as answers to a prospect’s question.
Vidyard is now the home for all video content created by Zycus’ customer marketing team. Through Zycus University’s video hub key users, cross-functional teams, and line of business users in customer accounts can maximize the value of their Zycus software–through access to video content including expert-level webinars, best practices, and tutorials.
Zycus engineering teams are now dabbling with video to showcase new product ideas to stakeholders and to communicate with existing customers.
And finally, Zycus’ HR and Talent acquisition teams are using video to acquire relevant talent and internally communicate organizational values amongst teams. Recently, they completed a new recruitment campaign featuring videos of department leaders. They highlighted the work performed by their department, sharing what candidates could expect if they opted to work with that part of the business.
Results
32% of Prospects Influenced By Video, 80% of Those in the Latter Buying Stage
Zycus’ marketing team received 250 marketing qualified leads in 2018, and 344 in 2019. These leads have helped drive various opportunities that Zycus estimates are valued at 6.6X its investment in Vidyard. 32% of new opportunities were influenced by video. And 80% represented the last touchpoint for these sales opportunities, demonstrating that videos play an essential role in providing an individual with that final nudge to convert from prospect to customer. In Zycus’ APAC region, 100% of won opportunities have been influenced by video.
Over the last two years of use, Zycus teams have created 250 videos and now host all video content on the Vidyard platform. But that’s just the beginning as far as Ashish and his colleagues are concerned.
In the future, they plan to invest in how-to and thought leadership video and to leverage more video on the company’s blog.
“We have a lot of great content that currently drives a lot of engagement, and we’re not taking full advantage of it,” says Ashish. “We want to use video to turn our blog into a lead generating machine.”
What's Zycus?
Zycus is a leading global provider of a complete source-to-pay suite of procurement performance solutions. The company’s product portfolio includes applications for both the strategic and operational aspects of procurement—eProcurement, eInvoicing, spend analysis, eSourcing, contract management, supplier management, and financial savings management. The company’s clients include best-of-breed companies across verticals such as manufacturing, automotive, banking and finance, oil and gas, food processing, electronics, telecommunications, chemicals, health and pharma, education, and more.
