Annette Iafrate, VP of Alliances and Partners for Vidyard, joins me, Jen Spencer to discuss channel alignment, building trust, defining rules of engagement and more on this episode of The Allbound Podcast.
Jen: Oh, it's so great to have you on. And for those of you listening who haven't experienced Vidyard yet, Vidyard is a video platform and they provide video hosting, enablement and some pretty awesome analytics. I know you joined the Vidyard team only about six months ago, but you've been negotiating partnerships at Constant Contact, you were helping drive partner revenue at SharpSpring. I mean, you've been connected to this concept of the partner channel for the last six years. And I really wanted to dive into a lot of that channel experience but before we do that, tell us a little bit about Vidyard, about Vidyard's value proposition so we get a sense of why you joined this team.
Annette: Sure, great. Appreciate it. I think the short answer is Vidyard helps companies drive more revenue through the strategic use of video. So, what does that mean? At the moment, the video economy is driving new expectations. Expectations around immediacy, transparency, authenticity, both in the workplace and the marketplace. So, video is now expected content and the statistics are actually staggering. Facebook gets 8 billion views per day for video, 8 billion. Isn't that amazing? But I think what's even more impressive is in B2B technology, 72% of B2B purchasers today are viewing video somewhere in their customer journey, and 50% of them are looking at at least 30 minutes of video. So, for those companies and leaders that want to keep up with the market, if they're not already doing video, they really need to embrace this new communication paradigm, and quickly. And for specific reasons, because it works. What we're seeing is, by having a video appear in your search results, you get 41% higher click-through rates. I think even more impressive is, if you have a video on your landing page or your website and your driving people there, you get an 80% increase in conversion and all of this with a 20% lower cost for leads. So, it's an opportunity that people should be leveraging right now, whether it's from the C-suite, through management, down to the front lines. Video is a very powerful tool, whether it's for communicating with customers, building brand awareness, encouraging employee advocacy or just in general, engaging with the market. And what Vidyard does is we help companies harness this power of video and use it to drive business growth, which is why I'm so excited about joining the team.
Jen: Wonderful. It sounds like you're pretty passionate about the use of video and I love it. I mean, when you're passionate about what you do and about what your organization does, it doesn't feel like work and it's exciting.
Annette: Absolutely, and it's just so powerful. You can see the impact on everyone's business, your own business, the channel business, as well as the end user business, so it's fun having that impact.
Jen: So, when you're looking at, really, the big picture of goals that Vidyard has, just looking at the next year, maybe even the next five years, what role will Vidyard's Alliances and Partner program actually play in helping achieve those goals? Because, Vidyard's a really rapidly growing organization. You guys are taking the the martech world by storm here. Where's channel going to come in this picture?
Annette: Right. Significant. Because the market's growing so quickly and because the company is growing quickly, you really need to prepare to start to leverage channels in order to scale the business. The market is growing, the market's massive. And at some point, you can only scale the direct model so quickly. The other reason is, in some cases, channels are really the best way to get to specific markets. So, there's a significant opportunity and I give the company a lot of credit in investing in channels early. Some companies I think wait a bit too long, because it does take some investment and some time to really ramp up a channel, as you've seen. You know, the recruitment, the alignment, the ramping. And so, in addition to that, the channels themselves just help accelerate the growth of the company. They extend the reach, give us access to more customers and prospects, whether it's through strategic alliances and their base, or market coverage, whether it's coverage of additional use cases, market segments and even geos. So there's a significant opportunity in the explosion of the market itself, and we've started primarily in the marketing and sales segments in use cases, but video goes across. It goes across industries, across market segments, their use cases including things like internal communications and support. So, trying to build a business that can attack all of those at once without leveraging channels is difficult. And as I mentioned, in some markets, particularly geo markets, the preferred mechanism for purchasing is actually through partners. If you're looking at iXAPACK or even LATAM and, to some extent, EMEA, customers prefer working with a trusted advisor that tends to be a partner. So, there's a significant role for the channels to play and, again, there's a variety of roles to be leveraged.