What are your competitors investing in? The 2024 State of AI Video in SaaS Report is here!

AI is transforming the entire world (obviously). But did you know video automation is leading the charge?

In the 2024 State of AI Video SaaS Report, we surveyed 194 SaaS leaders to uncover how they’re thinking about and investing in AI—especially when it comes to how-to and tutorial videos for their customers.

The findings reveal a clear shift toward AI-powered solutions, helping SaaS companies become more efficient, scalable, and personalized.

Get the full report here, or read on for a quick and dirty summary of the top 5 key takeaways.

1. SaaS companies' #1 priority is now AI investment

A staggering 97% of SaaS leaders reported that they are prioritizing AI initiatives, with 60% already planning significant investments in the coming year. This shows that AI is no longer a ‘nice-to-have’ but an essential component of any forward-thinking SaaS strategy.

Why It Matters: AI is rapidly evolving and SaaS companies that fail to invest in AI will risk being left behind by their competitors. AI investment is crucial for staying ahead and driving future growth. Companies should not only plan their AI investments but also begin integrating AI into their everyday operations to realize long-term benefits.

2. 176% increase in video automation spending from 2023

While many companies are tightening budgets due to economic pressures, investment in video automation has surged by 176.19% year-over-year. SaaS businesses looking to do more with less are clearly jumping on the automation bandwagon.

Why It Matters: As companies are tasked with producing more content without increasing spending, automation has become a vital productivity multiplier.

SaaS leaders should consider implementing video automation to increase output without stretching resources. Early adopters of video automation are seeing significant productivity gains, allowing them to create more content faster and more efficiently.

3. Leaders believe generative AI is critical for scalability and personalization

According to the report, 73% of SaaS leaders believe that generative AI will improve scalability by automating the creation of personalized, tailored content. This is particularly important as the demand for customized educational and support content grows.

Why It Matters: Personalization is now a top priority for customer success and education. AI-driven content creation makes it possible to produce tailored videos for specific customer segments at scale, something that would be too time-consuming and expensive with manual methods.

4. 94% believe videos play a crucial role in reducing churn

94% of respondents believe that video content is essential for reducing churn and boosting product adoption. Videos provide an engaging and digestible way for customers to learn about products, ultimately improving their overall experience.

Why It Matters: Video is increasingly being used as a tool for customer education and retention. Customers who are well-informed about how to use a product are more likely to stick around and less likely to churn.

SaaS companies should make video a key component of their customer success strategy. By leveraging video content, businesses can improve user engagement and drive stronger customer retention.

5. Video is the go-to for product education

According to the report, 64% of SaaS leaders believe video will become the primary medium for product education and customer support. Video is evolving into the most effective way to onboard and educate customers.

Why It Matters: Videos are highly effective at conveying complex information in a way that’s easy to understand. As more customers turn to video content for help, SaaS companies that offer video-based education and support will stand out from the competition.

If you’re not using video as part of your education and support strategy, now is the time to start. Video will soon become the dominant medium for customer education, so integrating it now will give you a head start.

And if you're concerned about outdated videos due to constant new software releases, check out how Videate can keep your video library up to date-- automatically!