Four Reasons Your Business Should Use Video to Increase Supplier Engagement

Four reasons to use video to increase Supplier Engagement

By 2017, it is said that video will account for 69% of all consumer internet traffic1.

And as we all increase our video consumption at home, our preferences on how we learn at work will inevitably change too. It almost sounds cliché to say attention spans are decreasing but it does hold truth. A recent study found that attention spans have dropped from 12 minutes to 5 minutes in the last ten years2.

As covered in the previous Supplier Self-Help blog series, small bite-sized answers that answer specific questions are the key to a successful Supplier portals and knowledgebase.  One option is video.  Here are four reasons you should consider using video to increase Supplier Engagement in your organisation:

Reason 1 - People can’t get enough of video

There is a reason 87% of Brands and Agencies are using video to engage consumers3. It’s because they have identified that this is many consumer’s favourite way of receiving information. Over 6 billion hours of video are watched each month on YouTube alone4.

By capitalising on your supplier’s thirst for video, you can maximise the number who not only view your messages but also increase the number that take the time to digest it properly.

Reason 2 - Video is easy-to-digest

One of the key principles to Supplier Self-Help is providing information in an easy-to-digest format. And often you can’t get any more digestible than video. The amount of scientific evidence demonstrating the power of video as a tool for learning continues to grow, and as I recommended in a previous Blog Post, it also brings variety and interest. This makes video the perfect medium for communicating many complex points to a supply chain full of Suppliers who vary in size and competency.

Reason 3 - Video is available, even when you’re not

Many of your Suppliers often work outside of 9 to 5 to make their business a success. Others just want answers ‘Now’ during office hours so they can complete that pressing action. The beauty of Self-Help content is that it is available 24/7 - so the information is available whenever they need it.

Reason 4 – Yes, video is cost effective. 

Technological advances mean that the cost of video production are a fraction of what they were. Couple this with video’s strength as a universal medium of communication, and you have a return on investment that is much easier to realise quickly.

A simple ‘explainer’ video could be as little as a few hundred dollars and deliver huge improvements on compliance or performance.

Wondering how to get started with video? Well, next week’s blog is for you - How to incorporate video into your Supplier Engagement strategy.






Tags: Supplier development, Supplier engagement

David Taylor

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