Embedding a video on your site can increase conversion rates by up to 80%!
Over the past few years, video has steadily become a more important element of digital marketing. With many social media platforms introducing increasingly video-focused algorithms, social video is fast becoming the most visible aspect of social media marketing. Some companies have also been leveraging video in their email marketing, in some cases resulting in a 96% higher click-through rate.
If used strategically, video marketing can benefit to your business tremendously. It has been shown to have a fantastic impact on ROI with a proven track record of boosting brand awareness, increasing lead generation and improving conversion rates.
This useful infographic from One Productions will guide you through the process of planning your next video marketing campaign. It provides a practical advice on how to calculate your ROI as well as a useful break-down of the video metrics you need to know so you can effectively measure the impact of your video.
Planning Your Video Marketing Strategy
The best way to guarantee a good ROI is to create a high-quality video. Before investing your time, money and resources into producing a video, consider the following points:
- What do I aim to achieve with this video?
- What unique characteristics of the company’s brand can I bring to the video?
- What content will our audience want to watch?
- Are there untapped content opportunities we can hone in on?
Having thought about these, start to formulate your content and strategy. Consider how you will distribute the video for maximum impact. Just because a particular platform offers the chance of getting more views does not mean it is the most appropriate place to share your video. Plan ahead and consider which platforms will be most helpful to you in achieving your goal and reaching your audience.
Measuring Your Video’s Return on Investment
You will need to monitor the performance of your video from the moment you put it live. To save time, choose which metrics are most relevant to your overall goal and only measure those. For example, if your goal is building brand visibility you will need to measure reach, social shares and view count. The below infographic outlines the six essential metrics you need to know, including:
- View count
- Conversion rate
- Social sharing
- Total cost
It is important to monitor your metrics from the beginning of your campaign as the figures will tell you what is and isn’t working with the video. You can then use this data to tweak your video for the better thereby boosting its performance and improving its ROI.
When the campaign has completed, you will need to assess the commercial impact of your video marketing. All of these factors need to be weighed against the total cost to create and distribute the video content.
“It’s not what you upload, it’s the strategy with which you upload.”
Without having clear goals and defined objectives to guide your video marketing strategy it will be impossible to effectively measure its ROI. What’s more, it is essential to fully consider your content, distribution and measurement system before committing any kind of resource to your video. Read the infographic below for more information.