Any business running an online video marketing campaign needs ways to measure their success. Effective video marketing campaigns should always have a way to document, track, and adjust its approach and strategy according to results.
Now is an incredible time to start marketing your business with the engaging nature of videos. While a significant investment may be required with producing high-quality videos, there are several ways in which you can effectively measure and capitalise on your ROI.
The same rules apply to the creation of your business videos as they would with running the actual business itself – you need to have a clear vision and understanding of your expectations and goals.
So, what action do you want your viewer to take after watching your video?
Objectives can indeed vary for every niche; in fact, you need to put into account evaluating your goals for every video marketing campaign that you launch.
A true understanding of performance and ROI starts in knowing what to measure. Simple as that.
Before you start spending any time and money on creating videos, make sure that you know how, where, and when you’ll be distributing your media. Having a good understanding of this will help inform other decisions you’re just about to make in measuring your ROI, including analysing across various video hosting channels.
For those of you who are just starting out, there are some basic distribution channels which you can consider such as:
– Your very own business YouTube channel
– An email newsletter sent out to your clients
– A product page on your website
– Your social network profiles
Each measurement model has its own intricacy, requiring various levels of depth. Here are the models you can start looking into:
If you decide to have your video marketing campaign on standing its own ground, absolute measurement would be most ideal for you. This will give you an insight into your video’s performance and will give you the ability to track metrics such as:
– Cost per subscriber
– Cost per purchase
– Cost per download
This may be a more complex kind of measurement, though using this method will give you a much deeper insight as to where and how to allocate your future budget.
A good example of how this would work best is if you’re looking to measure the success of a YouTube video marketing campaign against your TV advertisements.
This involves measuring the impact of your video on every individual channel you decide to use. This would also include measuring your results through every stage of your sales and marketing funnel.
While the data you’ll see here may be fascinating, the sense of gathering such detailed data rarely justifies its complexity towards small business.
Choose Your Video Partner Well
Any video company that doesn’t provide you with tools or advice for measurement of the success of a video may not be serious about serving and selling your business.
Video campaigns need to be judged by their effectiveness and that’s why it’s so important to choose a video production company that offers the complete package of pre-production, production and post-production to provide the necessary all-round approach to your marketing efforts.