The product, Personalized Video, stems from the acquisition of Switch Merge, a San Francisco-based personalized video marketing platform.
The new product engages customers one-to-one with personalized content such as their name, employer or LinkedIn profile picture.
The videos can be used for inbound or outbound marketing purposes, such as landing page videos, Web site visual content and personalized email campaigns.
Personalized Video can also be integrated with third-party CRM and automation technologies for analytics and data management, such as Salesforce, Marketo, Oracle Marketing Cloud and Act-On Software.
This could potentially be a powerful tool for email marketers, since videos can increase email click through rates by up to 300%, according to Forrester. Consumers are also four times more likely to respond to personalized content versus generic marketing, according to a recent study by Autopilot.
Vidyard claims early tests of Personalized Video has generated impressive increases in email click-through rates. The company believes personalized content is more likely to catch a consumer’s attention, increase engagement and convert more customers into sales.
"Personalization is critical to modern marketing," stated Stewart Rogers, an analyst at VB Insight. "In my studies, I've seen uplifts in conversions of up to 219%, and simply including a name in an email increases open rates by up to 41%." Rogers calls video a "powerful medium" and suggest adding personalization to it can drive better results.
American consumers are almost evenly split between enjoying personalized marketing offers and concerned about data privacy, according to new research released today from data company Verint Systems and analyst firm Ovum.
The study surveyed over 18,000 consumers across Germany, France, Netherlands, Poland, United Kingdom, South Africa, Australia, New Zealand, and the United States. Approximately 2,000 consumers were surveyed in each of the nine countries.
A small majority (51%) of American respondents stated they like personalized content that is more relevant to their interests, but 49% said they were suspicious of how their data was being used. Younger Americans are more likely to favor of personalization (59%), while Americans over the age of 35 are less than enthusiastic (46%).
The report states that marketers need to find the right balance between personalized services and privacy.