CIO Review >> Magazine >> May - 2013 issue

The Future is not about Data

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Wednesday, May 15, 2013

Michael Litt Headquartered in Waterloo, Vidyard is an online video platform for business. Founded in 2010, the company has raised a total funding of $7.65 million from SV Angel, Andreessen Horowitz, iNovia Capital, Paul Buchheit, SoftTech VC, OMERS Ventures and Jill Rowley.

Traditionally integrated and on-premise services such as e-mail, HR, server architectures and video hosting are moving to the cloud. Not only is it cheaper to have these services managed by trusted, third party organizations, they come with a team of dedicated support individuals, plus engineers and software developers focused on innovation and keeping technologies current with emerging web-trends.

Utilizing video for marketing initiatives on the web is an evolutionary concept. Web-video has traditionally been limited by bandwidth, production costs and recently, the relentless compatibility demands brought on by the massive landscape of devices.

Fortunately, platforms are emerging that aid in the distribution, sharing and utilization of video as a web-based marketing tool; this is the now. The future is about consumer insight. How are customers watching your video? Where are they sharing? What sections do they find most entertaining or informative?

This data can then be used to target new leads, improve communication with nurtured leads and connect this data directly to your customer CRM. The future is not about data; it is about insights.

Early Revenue and Customer Adoption are Challenges

There are SaaS services for essentially every challenge or problem facing large organizations. Finding product/market fit has never been more difficult. Customer acquisition and break-even revenue realization has become more difficult with smaller deal-sizes and more inbound noise to decision makers.

To be the clear winner in any space, your product and support organization need to be 10X better than the nearest incumbent. People are very social on today's web; customer service, support and on-boarding procedures must be designed to deliver great customer experiences. A well nurtured customer generates higher retention (less churn) and more referrals.