We’re in an era where video is king and users love to see it. There’s never been a better time to take advantage of video marketing and incorporate this feature into your content plan. But the infamous question is, how do you measure your ROI from video? How do you know it’s working? Better yet, were the results worth the effort? There are several ways to measure ROI. It predominantly depends on your goals.
Set Your Goals
A key factor in getting the results you want is clearly defining your goals in the beginning. What action do you want your audience to take after watching your video? What do you want to gain or improve? You may even have multiple goals that you want to reach. To get started, pick one objective with a measurable indicator to monitor and gradually work towards including your secondary goals.
Determine Your KPIs
Determining your Key Performance Indicators (KPIs) will give you direction on how you will quantify and measure your success. Some examples of KPI metrics include video views, lead generation, direct sales, social media engagement, email subscriptions, website traffic, booked consultations or appointments, or other revenue.
Monitor Video Metrics
The methods you use to monitor and track your metrics will differ based on your goals. If you’re tracking website traffic you can use tracking resources like Facebook’s Pixel insights and Google’s URL builder. If you’re monitoring engagement you should track reach, watch time, and actions taken after watching the video. You can do so using Facebook Analytics, Twitter Analytics, Instagram Insights, and other metric trackers.
Analyze & Adjust Your Strategy
Once your campaign ends, spend time analyzing your results based on the goals you set in the beginning. Compare your results against the video costs. If it is an ongoing campaign, be sure to monitor, analyze, and optimize your content monthly or quarterly. Be open to making adjustments to a campaign if it’s not working. The goal is to see the ROI that you desire from your efforts, but that may not always happen. Nonetheless, keep testing and optimizing your content.
As you incorporate video into your content marketing plan, keep in mind that the way your audience receives and wants information is ever-changing. Facebook updated its video algorithm to rank videos based on loyalty and intent, originality, and video length. Other platforms have updated their Be open to trying out different methods and learning new ways to optimize your content.
73% of B2B marketers say video positively impacts their ROI
KWSM has an in-house video team that will help give your brand a human face and generate the results you’ve been looking for.
CONTACT US to learn more about adding video to your digital marketing strategy.