So cant really go full HEVC, a lot of embedded devices in old TVs etc cant cope. But if it can take HEVC then do it for 60% for the same visual quality, so they need to start creating HEVC encoded versions as well as better H264.
Then comes the 1 pass with 'constant quality' versus 2 pass with 'constant bitrate' (typically).
If you use the 1st pass to work out where to apply savings, and encode on the 2nd pass to work at a variable bitrate that lowers space when it can, then its more than feasible to nail down 20%.