As online video production starts to become an integral part of most Brisbane businesses’ marketing strategies, you may be asked by the “money men” about ROI.
Financial controllers are obsessed with ROI so how do you have the answers ready for them, so that they can get to sleep at night and rest easy?
How exactly can you measure whether your video strategy is earning its corn?
First Question: Is Your Video Achieving Its Objectives?
You should be able to develop a fair idea of whether your video is hitting the right notes, be it on your YouTube channel, embedded into your website or blog or distributed around your social media sites.
Different videos have different objectives of course – how-to video are for educating your audience and demonstrating expertise, testimonial videos are for providing credibility for your business, FAQ videos demonstrate your expert status, storyline videos can connect to your audience through telling your personal/business story…and so on.
You need to define the business objective of the video before planning and recording it…and certainly before you hope to measure its success. Is it simply to boost sales, improve branding, demonstrate expertise or credibility, save costs or some other goal?
Ultimately, whatever the objective is, you want your target audience watching them all the way through to the end – this firstly means that they have been able to find them and secondly, that the content is engaging enough to maintain their attention. Therefore you are doing something right and your chance of a good ROI improves.
As with all marketing campaigns, it’s important to be able to assess a bit more analytically how your videos are doing – it’s not enough to be quoting general trends in video watching around the globe. How many are watching YOUR videos and are they converting to sales?
There are tools to help you with this.
Simple free tools can measure how many people are watching, how long they are watching for, at what point they are clicking the stop button, where the people who are watching are from and whether they share it with others.
Slightly more complex calculations allow you to work out a value for each visitor, based upon the numbers that watch the video and then take a desired action…. this can provide a dollar figure but remember ROI can be measured in advantages to the business other than instant dollar values.
Measuring and adjusting is an important way to improve ROI of videos, because you learn what works and what doesn’t.
Improve Your Chances of ROI
You will improve your chances of getting the ROI that the money men will like, by partnering with a professional video production company that understands your objectives and not only knows how to shoot videos but how to plan, script, edit and distribute your videos for maximum marketing bang for your buck.