Video marketing already takes over the marketing strategy and is considered an important strategy by 61% of marketers. They believe video marketing is the most effective strategy which can bring utmost results to make their companies step ahead of the competition. As a marketer, you may realize this power of video marketing and get inspired to do the same for your business. In this blog, you will get to know about 4 Important Metrics For Measuring Your Video Marketing ROI.
In this stage, you finally apply video marketing, brainstorm some ideas, and start video production. you even hire a professional company to help you make the best quality videos and share them on some social platform. After going through these phases, you may already think that your job is over. The truth is you still have a long way to go.
Just because you already share your videos, it doesn’t mean you don’t do something. This thing is also being neglected by many companies. As a result, only 22% of marketers get significant results from this strategy. This fact should make you realize not to make the same mistakes as other companies. That means you need to make sure that your videos perform well and can bring maximum results for your company.
There are several ways you can apply to know whether your videos perform well or not. One of the ways you can apply is by measuring video marketing ROI. Besides helping you to track your videos’ performance, this way will also help you to get some precious information that you can use to improve your video’s quality. To put in perspective, here are four important metrics you need to track for measuring video marketing ROI:
#1. View Count
Views are one of the factors that determine the success of videos. The more views on videos, the more popularity it will get. The importance of views should make you include a view count for measuring your video marketing ROI.
By view count metric, you can find out how many times your videos have been opened. It all depends on the video platform you choose. For example, on Youtube, videos will count as a view if the audience watches them for 30 seconds. This fact shows that the views you get don’t mean that your target audience watches your videos until they finish.
Not only that but also the view count metric will help you to find whether your video is attractive enough for your target audience or not. If your videos are attractive, that means you already spark their interest to click your video. If it’s not, you can use this information to improve your videos’ quality and adjust your videos with the content they like.
View count metrics seem easy to apply. However, since this metric doesn’t show the relevancy as the explanation previously, it’s better not to depend on this metric to achieve your business goals. You still need to use other metrics to measure your video marketing ROI.
#2. Click-Through Rate (CTR)
Since you can’t depend on the view count metric, you can use click-through rate (CTR) as a great indicator to know how well your video’s performance. By CTR, you can get information about the percentage of the audience who click Call-To-Action (CTA) on your videos.
CTR metrics can also show how catchy your videos can attract your target audience to click on your video’s CTA. The more the audience clicks your CTA, the more the audience visits your website. If you share your videos to promote your products, this thing will affect the sales and profit you will get.
If you want the audience to click your CTA, make sure you provide a clear, enticing call to action for your target audience. Make sure you already place your CTA since the beginning of your videos so they can immediately click it after watching your videos. Besides, you need to produce appealing videos that can spark your audience’s interest to learn more about your products and do purchases.
The development of technology tools, like mobile phones, makes people 1.5 times more likely to watch online videos on this tool. This means people like to spend some time watching online videos. This watch time can be your metric to find how much time your target audience watches your videos.
If you find out that your target audience watching time is getting higher, that means you already make them attracted and engaged with your videos. It’s also proof that you are already successful in making the best quality videos. If this success keeps going, you can get loyalty from your target audience and make them stick to your company for a longer time.
For achieving these goals, you need to make your videos simple, enjoyable but still informative for your target audience. Make it short but still can cover all the information your target audience needs. Use catchy taglines or utilize relatable stories to make your target audience more engaged with your videos. Convince them that your services or products can help them solve their problems and make their life easier.
#4. Social Sharing
If you constantly share your videos on some social platform like Instagram or Twitter, you should include this metric for analyzing your video’s performance. Through this metric, you can find out whether your video is appealing to your target audience or not. There is a study that social videos are shared 1200% more than other content.
So, If your videos are liked by your target audience, the chance to get your videos shared by them is bigger. The more the audience shares it, the more benefits you will get. Get more audience, build engagement with them, and boost your brand’s awareness are some of the benefits you will get.
If you want your videos to get more likes and be shared by your target audience, make sure you put your best effort into video production. But, before doing this step, research is the first thing you must do. Find out your target audience’s favorite topic on videos and social media platforms they use to watch it. Then, make your videos fit with this information. The videos that are relevant to your target audience will attract their interests to like and share.
You also need to fit your videos with the social media’s requirements and share them at the right time. Right video content at the right time is helpful to get more viewers and boost your video’s presence on the social media you choose. Make your videos more appealing with funny intros, beautiful backgrounds, or uplifting back sounds. The more appealing the videos, the more the audience will be attracted to share them with others.
Many companies still make some mistakes when applying video marketing strategies. One Of them is not checking their video’s performance after sharing it. That’s why they don’t get the maximum results they want from applying this strategy.
If you apply the same strategy, you can still prevent the same failure by measuring your video marketing ROI. By doing that, you can analyze your video’s performance and get the information you need to improve your videos’ quality. Not only that but also this way can help you to adjust your video content with your customers and makes your company step ahead of the competition.