Vimeo launches video editing tools for small businesses

Dive Brief:

Vimeo introduced Vimeo Create, a suite of tools for quickly creating social media videos, according to a company announcement.
The tools allow users to choose from a collection of video templates or create a video from scratch using their own storyboard and footage. With Vimeo's software, businesses can publish their social-optimized videos across various platforms and monitor their results within the Vimeo platform, per the company's statement.
Citing its 2020 SMB Video Report, the company noted that only 22% of small businesses felt that they used enough video in their marketing strategy, but 96% small and mid-sized businesses said they would create more video if they were easier to make.

Dive Insight:

Vimeo is the latest company to release software aimed at helping small businesses market their products. Pinterest, Amazon and Perfect Corp. have each invested in creating tools that support small businesses or third-party sellers, from augmented tech to highlighting small business products in curated marketplaces.

But the cost of high-end video may be prohibitive for small businesses. Per Vimeo's 2020 SMB Video Report, 51% of small businesses that created a video last year said their annual video budget was $500 or less, compared to 12% of larger firms with the same budget. Nearly 80% of small and mid-sized companies aren't creating video at all or want to create more, the report also found.

As commerce increasingly depends on social media marketing, small merchants are considering whether developing their own apps will generate a return on investment in terms of control and access to consumer data. In its press release, Vimeo said that small businesses can use its video editing software to reflect its desired messaging through custom colors, fonts, layouts and logos, along with other customizable elements, and can tailor videos for each platform.

"Video is the most impactful medium we have today for human expression at scale, and businesses need an online video strategy to reach their customers. But the research is clear: small business owners and entrepreneurs don't have the tools, time or budgets to make videos at the volume and quality needed to compete," Vimeo CEO Anjali Sud said in a statement.