Hurricane X TwentyThree: Video is Now.

We will go to some slides. Thomas, if this does not work, let me know. Everyone can see my video is now slide. It is interesting. The 23 team are keen on this idea that video is now. I have been talking about this for a long time. It is an interesting perspective. There is so much we can talk about. From social and TikTok to easier things. I want to talk about three useful areas. The power of emotion. If you have come to my previous sessions, you will see what I have talked about. It is important to understand that is why video is so effective. When I am looking at why video is becoming more important, I want to talk about the effectiveness movement. I think it is important that effectiveness is put at the forefront of what we do. We are looking at a cookie-less future. I will be looking at that as well. I am the MD here at the Hurricane Group. We have three agencies. We have a lot of cool videos. Hurricane Medical. We have a lot of cool clients. We work globally. We have content creation and localization systems. We have a video marketing strategy. I can get very nerdy about these things. What I am going to do now is set a scene about emotion. Why we think video is so important. What we need to start with is this understanding that emotions change behavior. What we are looking to do as marketers is change the behavior of our audience. We want them to buy our product. There is always something we are trying to leverage. The reason for that is simply to do with how we think and make decisions. We have this wonderful brain of ours which holds about 2.5 petabytes of information. I don't seem to be able to access most of it most of the time. The interesting thing about our brain is it takes up 2% of our body weight. It uses about 20% of the power. When we say power, what do we mean? It uses this. Our brain runs on glucose. It uses glucose. The thing about people is we have to make 35,000 decisions a day. That is an awful lot of glucose. If we were to think deeply about everything, we would be exhausted. Let's be honest. We are animals. We don't use too much energy. That is where our brain is going to go. When faced with 35,000 decisions a day, our brain has had to evolve making decisions with less energy. Otherwise, we wouldn't be able to get it done. To do that, many of you in the marketing world would have come across this idea of system one and system two thinking. Excuse me while I have a little drink. This is a way that our brain divides the thought process. It is not an actual physical divide. It is more about helping you understand how decisions are made. In our system one thinking, this is subconscious. This is decisions that we don't even really notice that we are making. It is where we make decisions quickly, with little effort, and with very little thought. If you are a car or a car is coming along the road and you know how to jump out of the way, these are easy little effort decisions. Then we have system two. System two is what we would call conscious decision making. We are making decisions based on conscious pondering of data. What kind of mortgage am I going to get? Which one of the deli cheeses am I going to buy? System two thinking takes a lot of glucose. It is deep thinking, conscious thinking, and you are putting it right at the front. System one, you can actually let that cook in the background and you find that you can make decisions without even being aware of it. Obviously, that as a marketer is what we are trying to do. If we can get people to make decisions which they don't really notice they are making, rather than the conscious one, that is better for us. What we are trying to do as humans is allow much of our decision making to be done automatically at a low energy cost using system one. That is driven by emotion. What we are starting to do here is we are starting to understand that we have this system one thinking which is driven by emotion. Once we can start talking emotionally with people, once we can start them to make a decision quickly without going into that conscious level, that is where we can start to drive behavior. There is a massive conversation around here about how you balance your thinking with your thinking. There is a massive conversation around here about how you balance the emotion of system one with the facts and figures of system two. The fact of the matter is if you just talk to system two about services, benefits, features, cost savings, you are not going to get people on board as well as if you drive with emotion. This is a really interesting, nerdy little bit of fun stuff. We can't actually make decisions without emotion. There was this chap called Phidias Gage. He worked on the railway. You can see there he has a very large spike which is pretty much what he did for a living. He carried big spikes around for the railway. One day he had a very bad day at the office. He pulled the spike out, he walked off to the doctors and the doctor didn't believe him until he saw a hole up through his head. What happened to Phidias was he basically completely wrecked his left prefrontal cortex. He has actually become a very significant study of what happens when you remove the left prefrontal cortex. He has actually become a very significant study of what happens when you remove the left prefrontal cortex. One of the main things we know about the left prefrontal cortex is it is where our emotions come from. It's where we feel and every time we feel you can see all the brain scans filling up in those areas. One of the things that we discovered about Phidias Gage was he was actually unable to make decisions. Many things changed. He became angry, he became curt, he became distant. He was unable to make decisions. It's because he didn't know how he felt about anything. If you don't know how you feel about what you want to eat or what you want to do, you can't make these decisions. Without emotion, we're unable to make decisions, which is a really interesting thing. I'm going to do a little experiment here because I want you to sort of, I want to now look at how video can use emotion to change behavior. What I'm going to ask the guys to do is I'm going to ask everyone on this call now just to have a little think about how you feel at the moment. You sat in the office, you sat at home, you sat on the train, you're listening to this webinar. Let's just watch this film and then we're going to talk about what happened to us. So guys, if you would be so kind as to play film one, that would be fantastic. Slides, please. That is that's 92 seconds to change everything. Right. That's how long that film is. And no matter how many times I see it, I'm very much on an emotional journey. And hopefully you felt something too there. But what happened when we did that? Well, we had some kind of emotional response, right? Probably distress, empathy. I would say those are the two main ones. But what is distress and empathy? How did we feel it? And why did that video make us feel it? Well, it boils down to basically a massive dose of brain chemicals, chemicals hitting your brain or different hormones coming through. So as you're watching it, you would have got various levels of cortisol, oxytocin, dopamine, serotonin, adrenaline, maybe lots of different things happen within your body. They receive that story. And there's a whole other piece about why stories affect us. But when we're watching something like that, we get a big dose of brain chemicals. But what does that mean? Well, let's talk about that. What exactly do those chemicals mean? And so this is actually been studied really well by a chap called Dr. Paul Zach. And he did a piece of work called Empathy, Neurochemistry and the Dramatic Arc. And what they did in this study was they showed a film a little bit more powerful than one you've just seen. They showed a film about this lad called Ben who's dying of cancer. And they told the story of his dad and how his dad was unable to connect with Ben, even though he was in his final days of life, because he knew that he wouldn't be there in the future. So it's an incredibly powerful story. Dr. Paul Zach studied not only people's reactions, but he studied brain. He studied blood chemistry before and after. So they took blood samples before and after, and they studied to see what would happen. And rather than me tell you about his studies, clip two that I have is actually Paul Zach explaining their findings and what it tells us about emotional content in video. So if you could share the next slide, please. Thanks, Phil. That two primary emotions were elicited. One is distress and the other is empathy. At the same time, when we asked people what they felt after the story was over, we really couldn't get very clear answers. So began doing other studies on this story. So we took blood before and after, and we found that the brain produced two interesting chemicals. One is called cortisol, which focuses our attention on something important. So cortisol correlated with our sense of distress. So the more distress you felt, the more cortisol you released and the more you paid attention to that stimulus. The second chemical release is called oxytocin, which is associated with care and connection and empathy. And oxytocin was correlated with people's sense of empathy. And the more oxytocin they released, the more empathic they felt towards Ben and his father. Then we did something different after this experiment. We gave individuals a chance to share money with a stranger in the lab. And indeed, those who produced both cortisol and oxytocin were more likely to donate money generously to a stranger they couldn't see in the lab. In another experiment, we gave individuals a chance to donate money to a charity that works with children who are ill. And indeed, those who released oxytocin or cortisol donated money to this charity. In fact, the amount of oxytocin released predicted in both cases how much money people would share with a stranger or with charity. What we're seeing is that this narrative is changing behavior by changing our brain chemistry. This is the point, right, that by telling emotional stories, we can literally change behavior by changing our brain chemistry. So that's why emotion is important. But what are the emotional drivers for your brand? Right. So obviously, if you're talking about dying children, cancer, there's obvious emotional drivers. But what would be the ones that your brain that your brand has? And they exist for every single brand. There is an emotional reason why somebody would connect with you. And this is a lovely little wheel that we use to talk about emotional drivers. We've got positive ones like inquisitive or confident. We've got negative ones like being indignant or ridiculed. And it's very much a case of like, how can we make people feel some of these things around our products? And again, this is an hour long webinar on its own talking about how we can start using emotional in this way. But it's really good to understand what you're trying to elicit in people. I'm going to just talk. I'm not going to do film three, but I just want to talk to you a little bit about some work that we've done here at Hurricane. So we were talking to neurosurgeons in America and we wanted to do we needed to connect with them. So we tried two things. Right. So the film on the left, we we said neurosurgery is evolving and we sent this to surgeons and it did OK. Right. But the film on the right, we did a film about you are the future of neurosurgery. It's just different copy. Right. So the one about you are the future of neurosurgery, which makes surgeons feel important and it makes them feel kind of like valued, did twice as well as exactly the same film on the left, which is just about neurosurgery generally involving. So once you understand the emotional driver, in this case, surgeons, he goes, unfortunately, you really can start to leverage things very well. OK, so we've done 17 minutes now. So that was a really quick introduction, I think, to the power of emotion, why we need to harness it and indeed why video is so important now. But I just wanted to talk a little bit about the effectiveness movement and the end of the end of cookies. So because I think that's one of the reasons these are the reasons the video is so important now. So you might find a lot of people talking about marketing effectiveness at the moment. Marketing effectiveness is very much this kind of contemporary drive to add a scientific data driven approach to the art of marketing. It's about basing what we do on academic rigor, not industry experience. And there's a lot of marketers who who don't have academic rigor. And we do a lot of things because we think it's going to work. And there's a lot of things that when you measure them, we find out actually we've been doing the wrong thing. So marketing effectiveness is about continuous learning and adaptation. And it's being driven by these people. And if you don't know these people, I suggest you, you know, you get up to speed pretty quickly because it's a really interesting field. People like Byron Sharp, whose book The Long, Sorry, How Brands Grow is institutionalized this film. It's 10 years old now, but it's really only starting to come into everybody's thinking. And he's from the Ehrenberg Bass Institute in Sydney. The IPA Field and Burnett's book, The Long and Short of It, you know, they're very much driving this new thinking around marketing. And that has opened up the doors to people like the Hermans, the Nelson Fields, the Woods, the Powells and the Kites. And if you're looking for an entry level guy, if you like a lot of swearing, I cannot recommend Mark Ritson enough. He is becoming incredibly well known. Some might say slightly cultish kind of thing around him. But, you know, he's where I would start. He does a really good course called Mini MBA. Then we've got System One and Kantar and analytic partners who are all agencies that are research agencies working in this. So these people are driving forward this kind of very much more scientific approach. But what it does mean is that there is a whole new breed of CMOs coming through. And CMOs are obviously the people that are driving how we think about marketing. And we as an agency, you know, we're talking to CMOs all the time. And indeed, a lot of this thinking is being picked up by marketing directors, marketing managers. And the modern CMO has got a whole new list of things that they didn't want to do a few years ago. And these are the kind of things that CMOs are now thinking about. We're now starting to think about how we're going to do long term brand building and short term brand building. So splitting activities into long and short. So, yes, we're going to do some TikToks. We're going to drive some direct response. But actually, we're going to have some long tail content hosted on our website so that we're doing long term brand building. Or we're going to do some brand building work that isn't about response. You know, that's a really very important part of it. More and more understanding how we segment target audiences and how we position ourselves differently for those target audiences. Charities going after different pots of money, brands going after different pots of money. The modern CMO understands the power of creativity and they're putting it at the front of campaigns and pushing emotion at the front of it. Studiously applying distinctive brand codes. Distinctiveness is an incredibly important part of modern marketing. There's so many people that do the same thing as you. Hundreds of people do the same thing and actually being different is not important. What's important is being distinctive. How do you stand out in the marketplace? What distinctive brand assets have you got that you just leverage again and again and again? The golden arches, right? It's a classic. It's like how do you leverage those distinctive brand assets? The modern CMO understands how we can spread content across multiple media channels. And they're going to be using a blend of econometrics, market testing and brand tracking to produce learnings, right? So that's where the modern CMO, the modern marketing world is going. It's becoming much more scientific. It's starting to apply data and rigor. And lo and behold, video is not the thing that does all of these, but it's intrinsic to all of these things. Video can work long term brand stuff. It can do short term direct response. It's really good because you can target a separate audience. So this is the key reason I think that video is so important in the modern marketing world because it aligns with what the modern CMO and marketing directors need to do. That was very deep. I'm sorry about that. I was quite nerdy, but I'm very passionate about that kind of end. And then finally, I think video is important because of those two things, but also the end of cookies, right? Now, there's a big debate about whether the end of cookies is going to happen. Obviously, 2018, it came crashing down in Europe for cookies in 2020. The same happened in California. So that's both big markets done in 2022. Google announces its plans to phase out third party cookies. And then here in 2024, yay, we should be getting rid of third party cookies. But as I'm sure you're all aware, the bunch of researchers come out basically saying how if we move away from cookies to Google's privacy sandbox, it's actually going to substantially hinder most current forms of digital advertising. So Google has somewhat had its kind of rug pulled from underneath it because it was moving from cookies to the digital sandbox of the privacy sandbox. And they actually the IP the IAP found that only a fraction of the 44 basic digital advertising use cases reviewed would remain feasible using the sandbox APIs. And basically what the sandbox was going to do was going to be anti GDPR and actually increase Google's monopoly on ad spend. So I'm afraid to say that the cookies aren't quite crumbling exactly at the moment. You know, the cookies won't crumble just yet, but they are on the way out and we should be planning ahead. Right. So we're not going to be able to collect third party data, but that's OK if you have lots of content. Right. Because cookies aren't going to crumble yet, but they will do. And video will help us overcome this cookie crumbling. Right. Because good content, deep dive content increases the value of each interaction with deeper meaning. Right. So instead of like lots of very trackable points, we can start having longer form content discussions. We can really get our brand message across, which means we don't need to track it as much because we're making really good content. It is more likely that people will exchange the value of their first party data in exchange for watching good content. If you've got a 10 minute long documentary, which is really good or something really educational, people are more likely to give you first party data, which is increasingly important. And sites like 23, which can start to help you do gated content and which can start to help you tracking that first party data and tie into your CMS. It's like super super the future video means we can do contextual behavior targeting. We can really start using content on our site to start balancing more SEO and we can do more content marketing. So we're less reliant on advertising cookies. And I think in a way of bringing it all to a close, the fact that we can now start doing on site tracking and using first part data and we can use that to improve our performance and we can use video marketing platforms to start replacing the need for third party cookies with good content on site that we can track with first party data. That's all really exciting stuff, which leads me nicely to where Thomas is going to take over. But in summary, you know, why I think video is now is this part really, it's like it's firstly uses emotion to change behavior. Video is really important because it ties completely into the effectiveness movement, which hopefully I fired you up enough about to go and at least read some of the rits and stuff. And it's really useful as we move into the end of cookies. So that's my 20 minutes done. I'm going to hand back to Thomas or going to hand back to both of us. I'm going to stop sharing my screen. There we go. Hopefully useful for everybody. And Thomas, I think it's over to you. Thanks, John. And yeah, video is now such a such an interesting prism. So I wanted to follow up a little bit on on John's talk and and try to go a little bit deep on what the video actually is to supplement all the John's great observations and then try to give you six tips that you can do pretty fast to make it work. To make video now in your organization. And then we I think we'll both John and I looking forward to opening up to questions and and and reflections so we can hear your thoughts and answer any question you might have. So just very quickly, I'm the Thomas. I'm the co-founder and CEO of 23. We're the European player in video. And so the only European software company competing with the dear friends from Vimeo and this jam. We're also often the upgrade. So we're focused on really empowering growth and enterprise companies on rolling out fully out into organizations. So doing a lot of leadership and pioneering work in on on moving the category. But what I really wanted to talk about is a little bit on on what video really is. So I mean, the interesting thing about the Internet last 30 years have been that the innovation was about removing the human beings so that we could get anything we wanted at any point in time. Right. No shops that were open nine to five. No need to go somewhere to pick up a brochure. No need to go to a government office. But the challenge is a little bit like this website from the Nordics that very impressively you can register in company in 30 seconds. You can file your annual filings, a lot of stuff that was hugely complicated before. But we end up with these sort of websites that are without human beings. And that's the challenge. Right. At the same time, we're living in this video area on social platforms where video is already reshaping culture, power, dynamics, politics. How we live our lives, how we communicate. Eighty percent of content on social platforms are video. You can even argue nowadays that every social platform is almost a video platform. Twitter X is a video platform at this point in time. Facebook is a video platform. Instagram started being images, but is now a video platform also heavily. YouTube obviously is a video platform. So all these social platforms, TikTok and and Snap, et cetera, I mean, are all basically video at this point. But the challenge remains that that we look at our websites and they're really fundamentally not. So we've locked out a little bit. So the way to really look at video is that video is tough because it's big and profound. Right. And video is really a paradigm. We lived in the textual era for the last 400 years, and now we've moved into the video era. Right. Together with the computer, whether it's the one you have in your pocket or the one on your desktop, connected on all those computers together on the thing called the Internet and connecting all of us together. Video is really the thing that makes us, you know, basically do teleportation or television, as it's also called, that you can sort of move in time and distance and almost be there as good as being there in person. Right. That you get the full body bandwidth, you get the sound, you get the visual side of it, you get the body language, you get the participatory aspect. Right. And video is basically at this point, you know, basically the killer app running on top of the Internet and the computer, because it allows us to do time travel and be there in person. Right. On demand when we need it or live in a webinar like this. So video is really a very fundamental paradigm, as big as good and bad. Right. And if you start thinking a little bit about what's happened the last 20 years or 80 years, but just the last 20 years here with the Internet and video really connected together. I mean, yes, text changed the religions, it changed the power structures, it changed culture, it enlightened population, it created culture wars, it created wars and reshaping of nation states and, you know, a lot of different things the last couple of hundred years. Right. And video is a little bit like the same. We already are starting to see more informal verbal language returning compared to the sort of beautiful abstract language of text, even a lot of text is so beautiful abstract, you couldn't even say it out loud verbally. Right. But it's beautiful. And we obviously still love text, all of us, I guess. We're about sort of 135 years into this wave from the film invention in the end of the 1880s to the film era that we sort of all have grown up on, on the latter parts of that, the television era that entered in about the 1950s, the coronation of the late Queen Elizabeth II, you know, one of these first global moments, just like a webinar where everyone in the population and the world were able to be there in person, in the church, a part of the show, not just reading the abstract description the next day in the newspaper. Right. Then we had the home video era where things started decentralizing that we all could have cameras and we could all record, but we couldn't really distribute it. Right. And that's really the changing era of the last 20 years where we now all have a 6, 8K recording studio in our pockets that can broadcast live and instantly capture the moment and share either on the main or live. Right. So it's really the last 20 years that have been sort of the peak of it. Right. And I guess for anyone in digital, anyone in marketing, I mean, yes, the good news is that video will keep being a key thing you're going to be working with the rest of your career because we're just getting started on moving on this. Right. And it's, you know, we're probably hundreds of years away from seeing where it fundamentally really takes us long term. So I wanted to give you sort of six tips on actually how to make video denial, because the challenge of video, because it is such a profound paradigm change is that it's never it never goes through sort of a hype cycle, just like AI now where everyone are into AI, AI agencies are being built, the AI teams are being built, heavy amounts of money being invested in one or two years, then it's going to blow up and level off at some point and then it's going to find its natural level. Right. And obviously, AI is a huge long term shift that we believe in heavily at 23 and investing a lot in a lot of AI augmentation of video. But but the challenge with video is it never had that peak because it just keeps being a paradigm change. Right. It never had that kind of way where we threw ourselves into it. And that's often actually a good human behavior that we do this sort of 18, 24 month cycle where we go a little bit crazy and a little bit dogmatic on just going in there because that's when we start learning. Right. And then we figure it out over time and distance. So making the video now is actually interesting because video is probably the least developed digital category. Right. Everything else in digital transformation is super mature. But video is actually both from a sort of marketing perspective, but also from the sort of broader enablement of your whole organization to touch the market around you. Probably, you know, the what the area that still has the most quick wins. So I'll take you through six quick wins you can do if you have the right tooling and the right organization to do it. Right. So number one is get your videos into the hands of your people. So the challenge often in marketing is that you actually have a pretty huge investment in video. You produce videos yourself. You record webinars. You have a great agents video agency you're working with that does a lot of the work for you also. But the challenge is that they're kind of stuck in the marketing teams video platform account or perhaps even stock in a hard drive or shared drive somewhere. Right. So the challenge really is that you have these hundreds or thousands of people that are all your kind of market facing people that could use those videos to tell stories, to put them into your slides, to put them on LinkedIn, to send them to a prospect, send them to a customer. Right. So it's really a fundamental enablement that we're lacking. So I mean, it's a tip number one, really make sure you get those videos into the hands of your people. You do it by having a video library. It's a fairly simple thing. You have some folders. Your people get a notice on the latest videos, both in a web app and also in a mobile app. If you want that, you pick a video, you send it to somebody, you can share it. You can even add to it, potentially record a little addition to the video. Right. So really think about how you how you give your videos in, get your videos into the hands of all your team members. Right. We're often seeing business cases that are around two to three X on what you're already investing in video. Right. And for a lot of companies, that's a million euro, a couple million euro a year. If you count in total cost of production, your team and everything going on. Right. So this is like a very high time to value. We often see people can build this in a day or two, you know, find all the videos, put them together, start inviting people in. People get notifications whenever there's a new video, et cetera. Right. So that's tip number one. Tip number two is very fundamental, which is about making sure everyone on your team can do video. So if you ask anyone today, you know, can you send an email? Yeah. Obviously, we can send an email. Right. You know, can you do a video meeting? Yes, I can do a video meeting nowadays. Right. But if you ask anyone in a company, can I record a video and send it to somebody? You know, the answer is like 80, 90 percent. No. Right. There are very few companies that actually still do this at this point in time. So video is fundamental to making sure everyone in your company can communicate with your close prospects. You know, can one of your account managers send a video to 50 of their respond of their connections? Right. A very sort of fundamental thing. We have this amazing category called personal video, which is opposite to broadcast video. Right. Personal video is about being personal, is about having a person as a center. It's also about sending it to a few people, whether it's one person or multiple people. Right. And it's this great category that came out of screen recording 25 years ago and is mixing existing video content, your screen and your video. Right. In your web browser, which is magnificent for old people like me that we can do all this in a web browser nowadays that you can record, you mix it together, you, you know, welcoming that new customer to your organization. You know, you're going to get the CEO to record two minutes of a welcome and creating, you know, magic customer touch point and impressive customer touch points the other way around. Right. So making sure everyone in your team can do video is really fundamental and very easy to do and also starts building a video culture. You're going to spot those talents in the organization you actually want to record broadcast video with. Right. To put on your website because oh wow, this person, you're going to start seeing bottom up innovation of people starting to do video and new different customer touch points. So it's a very fundamental element. So you as a marketing team, make sure you enable your all your market facing people and obviously mix together with your existing video content. You know, you can create personal video campaigns, you can create automated video touch points. So there's incredible amount of potential here to innovate your customer touch points and stand out. Right. Tip number three to make video with now is really about the web and the web is a, you know, interesting thing. I've been with building websites for 30 years, 30 years ago and the Legos, their first website, many years ago. But we must say that we a little bit have been sort of forgetting these websites. Right. While social media, the last 10 years moved from from text and images to video, we are still a little bit stuck in our websites feeling like something that could have been built 10 or 15 or even 20 years ago. Sometimes, right. They don't have the news. They're not live. Right. When I hit something on social, it's always new. Right. Even if a company has a webinar, it's not popping up on the home page live. You have generations now that want to experience video. But where is the video universe with all your videos where I can just click around and see all the videos, your webinars, et cetera. So the challenge is really to to make your website video driven. Right. And move that website suddenly to have to really have a relevance, increase the length of time people engage on it. I mean, we see numbers, you know, about 20 X of time based engagement on websites playing video compared to social platforms, even free X on compared to YouTube. On the average engagement on the data we're tracking for our customers, right. People play around four and a half minutes of video on average on a website. And that's even without really being fundamentally video driven on your website. Right. So we potentially could get that up even higher when you really do it. Right. So it's stuff like making sure that you put all your existing video content on your websites. It's having a video section on your website that it's also a fairly plug and play thing you can build very easily. It's about making easy to do. We recently launched this thing called Spots, which makes it very easy to just change a video around. So for your people, you know, they can click the little green dot anyway on your website and when they're locked in and then they can change the videos, right. They're putting videos in the footer of your website. And once again, the R.I. here is incredible because you already have all your video content is just about moving the website experience. Right. So once again, we're seeing two free, sometimes even 10 X returns on the amount of more engagement you can get on your existing video content. Right. And then obviously, hopefully also creating new types of content and making that website live and relevant. Right. It's magical. The first time you see a website where it's blinking because there is a live webinar running and it's actually running the video on the website. It takes over the top of the website. If you want that just now, you know, OK, you know, suddenly the website is exciting and engaging. Right. So so really fundamentally for any marketer now, it's important and very important to get your website to be video driven. Right. To have that first party data, all your serum tracking, you can do your video attribution and to drive that long engagement on the video as opposed to just paying for social media ads. And 17 seconds of average engagement on that. Tip number four to make video now is to do hundreds of webinars a year and webinars are interesting because they are the sort of the last thing, you know, event marketing fundamentally was the last thing to be touched by digital audience. Right. And Kovac meant that we needed to do it. So it moved very fast suddenly. And that's what webinars fundamentally are. Right. We're reinventing event marketing with digitalizing, with giving digital scale and dynamics to even traditional event marketing. Right. Two of the largest brands of the last 50 years, Apple and Tesla, has been built on webinars. Right. It was a change method for Steve Jobs when he returned to Apple to do these biannual keynotes. Right. And Tesla has been copying that model ever since. Apple had more than 150 million people engaged in earned media in their own content when they had a keynote last week. Right. People are republishing the content, commenting, reflecting, reacting. Right. So, you know, obviously your numbers are not going to be like that as Apple, but your numbers could be the same in your industry, in your field. Right. So the interesting thing about webinars is also about orchestration. Right. The digital engagement model is like this nowadays. Right. The website is always open. You can get anything you want at any point in time. But that's not how us human beings think. I'm sure John can also give you a lot of the more biological and neurological elements. Right. With webinars, we're suddenly creating orchestration. Right. You can only get this webinar on first day at two o'clock. Right. All your financial, private customers are going to join an eight o'clock webinar at night when your kids are asleep. Right. Your bank advisor is going to do his or her webinar only for their clients. Right. We're creating orchestration and we're creating digital scale. Right. So the ones that are figuring webinars out are creating massive differentiation in their digital marketing webinars. Often 20, 30, 40 percent in software around 35, 40 percent of lead generation and of engagement. Right. People do join on average about 41 minutes of engagement in a webinar. Right. So it's often equivalent to the cost of doing a meeting or doing a different type of touch point. Right. So it's extreme value. Right. And when you can attribute that into your overall marketing attribution and lead score, it's going to be a lot of money. So you really need to think about not doing, you know, a webinar once every quarter or once every month. Right. You probably do those for your big product launches, your quarterly big announcements. You do a recurring web webinar perhaps on your website every week so you can get an intro to your organization and your product, your services. You start doing relational webinars where your account managers are going to be able to get an insight into your organization. For example, in a B2B context, do it for their contacts and their customers. Right. You start doing channel webinars, pension funds, doing webinars to their major customer, you know, their major corporate clients, employees. We see a lot of that happening with great results and great move in perceived customer experience. Right. You start seeing customer webinars. So, you know, for example, we do webinars for some of our large corporate clients. We had one this week where there was 1,900 people in a very big global organization that were invited to a webinar about because they're already using 23. And, you know, we're doing kind of a road map and an engagement. Right. So you start seeing a lot of people who are already using 23. So we're doing kind of a road map and an engagement. Right. So webinars are not only for external webinars, they are going deep into how we, our channels and our customer touch point. So really line up your strategy here for some of these formats. And a lot of numbers starts going very crazy. If you have 200 account managers and they do a quarterly webinar with some of your existing content you already produced, you're doing 800 webinars there. Right. So we see a lot of our customers are even at this point doing thousands of webinars. Even within each division. And then you add up that some of our customers have 80 divisions that are doing it. Right. So you get to some very big numbers here. So the webinar is really about thinking at scale for the volume side of it and also something that the technology and the software is driving heavily. Right. And then obviously you also do your big heavy ones that where you invest a lot of money in them. So that's what we're also really sort of focused on driving the enablement of, you know, that anyone should be able to run a very professional webinar. Then you start doing highlights and constant repurposing and using your existing video content in the webinar. You start doing highlights out of it that you put on your website and on social platforms. So suddenly that 45 minute webinar was not just a webinar. It was actually a video recording that's going to keep on delivering for the next many months or even evergreen. Then tip number five is about tooling. And obviously we here at 23 are toolmakers. You know, first we create the tools, then the tools creates us. But video is the last on tool category. Right. If we look at the digital marketing in general, tools are 26.6 percent of the of the budget. What you call marketing technology or Matic with a more buzzword. Right. So tools are fundamental. Right. Also some of the business cases I've been talking about where you see two or three X on your existing video investment. Right. We're not even talking. We're just talking the song calls you already have on your video investment, where if you use tools you can amplify and you can get more value. Right. So it would be weird that video was the only category that shouldn't be tools and video. You can even argue perhaps the more important when we look at video, we are still at one to two percent of the video marketing budget or the video marketing in total kind of cost in the organization, the time it costs to have your people on camera, your staff, your external spend on video agencies, your studios, everything in together. Right. So because we've been in this big tech era where we were we thought video was YouTube or we thought video was only something that ran on social platforms. We're seeing that there are so many business cases here. Right. So I mean, whether you use 23 use something else. My advice would always be you need a video marketing platform in there to drive the value out of your your video investment. Right. What we've been working on is also really maturing the category because video is always in some ways because there hasn't been enough tool investment. We as tool makers can't invest heavily either. Right. So what we've been doing the last couple of years is moving these three product categories of the video marketing platform at the time. We coined in 2016 webinar software, personal video software, we coined in 2018 into really making it one experience, as you know, from CRM software, Salesforce, HubSpot, where everything starts working together, where, you know, suddenly it really changes everything that, you know, your webinar is ready to go afterwards with the highlights and you just press a button. Then you can put it on social media, give it to your your salespeople, your your account managers. Right. So there's a lot of things that just drives immense business value when you have it all in one platform, which is the strategy we're on and a strategy since later copied by both our two U.S. competitors after our 2021 launch of this. This is what it looks like. You know, it's visual. You play around, you use your videos, you work in there. Everyone on your team has a lock in so they can use video, they can create a webinar themselves. They can run from a webinar template, you know, is really working at scale and the way you would run anything else in digital with video. The last tip I wanted to run off was a little bit pointing back actually to John and John obviously is a pioneer in this category. But we have this new emerging category of the video agency, right. For long term, the category was video production. But now we're seeing this category of the video agency, the same trend we've seen digital agencies back in the days. Right. I launched one and I started one. I founded one of the very first digital agencies in Europe in 1995. But I mean, the first three months, we called ourselves a worldwide web production company. Right. Because that was our perspective that we were producing websites from something that already existed. Right. And 12 months later, we were building websites for global brands and doing strategy work even almost as teenagers, which was quite a thing. So at 23, we love video agencies and we're happy to be working with some of the best in the world. Right. And what we're seeing is really this massive shift to video agencies and being able to cater to all your different types of video. Right. You want to create formats for video that your team can use yourself. You want to create webinar formats. You want to build a studio. You want to buy the right gear for all your 20 different branches to have in their different offices. You want to make these softwares working. The data is running. You want to train your team. You know, and you want to do templated content. So you have breakers and intros and and big hero videos to use in all your webinars and all your other videos. So you need to think differently. Right. And we're seeing this gap between the video agencies and the companies, the video agencies, often a video production agency can't see what the company is actually doing and the other way around. And agencies are so profound because they are kind of the cross pollinators of the world. Right. Because they see a lot of patterns across a lot of companies and they can then, you know, bring that knowledge into your organization. So in a change like video that is so profound, video agencies are really, really important. Right. Because they will see patterns and data and best practice from hundreds of customers where you'll only see your own context. Right. And no organization is an island. So what we've been working on is together actually with John and a lot of other great people is is building this video agency model of this different competence profiles, the different services in the video agency. We it's all on our website, the video agency model, how to change, how to be a good buyer as a company. Right. And I can only encourage you to really be working with a video agency. Put them on a retainer, build long term relationships, just don't order one video or three videos. Right. Order a journey together on making strategy on on working with your teams. Right. And we that's the real marriage we're seeing. Right. Obviously, most companies at this point will have internal video resources on their teams. We have customers that have 25 video producers and they're in their companies or even more if they really count all of them. Right. And video and and and those video users are change agents, but they're better if they work together with the video agency. Right. Not replacing them. This is like a combination of of energy and sources and knowledge. Right. So those were the six tips on how to make video with the now. Right. I haven't even gone into the complicated stuff. Video attribution, video analytics. If you're investing millions of euros a year on video, you really want to be working very geekily with your video analytics to optimize that investment, which also has big ROI. But I wanted to really give sort of the perspective on some very simple things you could do right away. And and the interesting thing is just as sort of a little tip to you as a change maker is that when you start running video analytics, when you start running video attribution and when you start running some of these touch points and really getting more out of you, video investment, that video is already more than 50 percent of the engagement for your company. Right. We even see some come to customers that are in the 70s range. Right. And then, you know, then some people start saying 70 percent of the marketing budget should go to video and 70 percent of your team budget on your marketing team. Right. That that's a discussion worth having. But video is already on a time based perspective, engagement based perspective, the main driver in your company. Right. And if you know that number, you have a very good way of making video now and fighting for the right strategy and budget allocation in your company. Right. When you start not only looking at the very transactional nature of digital, but you look at time and engagement, which is the most important thing in life. Right. Those people that spend hours and hours and hours on your video content per month. Those are the ones that are buying very complicated, big things from you. Those are the ones that are your most important customers. Right. So that was a little bit. But let's see if we can connect it all together with with John and John back to you. And I hope we have a little bit of time for some Q&A. Yeah, that's wicked. I mean, it's it's interesting to see both sides, isn't it? You know, you're very much on that tech platform side of things and it's like, how do we enable those things? And I'm more like, how do we make the content work? And I think the interesting thing is, is how marketers can start thinking about using video agencies, as you were saying, that strategic input to sort of tie it all together, because it's incredibly complicated. Right. There's a there's a there's a lot to think about. I'm not sure we've got questions or not coming in. But, you know, feel free to put any questions in. But no, it's very, very interesting, very interesting to have it all in one place. And I think there's so many there's so much to think about in terms of like whether you're using social, whether you're using on site video. But they go. This is the first of many webinars on this subject, I would say, wouldn't you? I mean, let's hope so. I think I mean, back to your point, I think there are so many of these things in video that gets kind of, you know, nominal. Right. Or it gets kind of conclusive. Right. Where a lot of these things is about, you know, you want to do a lot of different types of video. You would be doing a lot of different types of webinars. You want to be using tooling. You want to be using all these things. It's not either or. Right. It's how you put it all together. And I think that's really what we're starting to see now with the video agencies, with the software, with companies, you know, that is not, you know, do I work with a video agency or do I build my own team? You know, it's about how you put these things, all of these things together. Yes, video is about data, but it's also about, you know, great storytelling, teaching people to be on camera. You know, it's not either or. Right. And that's really the challenge of video in terms of how you how you put these things together, because it's so big. Right. So I think let's hope it's the beginning of a long conversation. Yes, indeed. Great. Well, on that note, thank you very much to everyone for joining. Thomas, thank you for joining. Thanks for hosting me. It's really nice. I will. Well, I think we're sending out recordings of this afterwards. Any more questions, please do send them in. So, yeah, thank you. Have a good. It's the weekend, pretty much. Let's crack on. Okay. Cheers, Thomas. Thanks. Thank you. Bye. Bye. Bye, everyone.