Once you have created a promotional video and uploaded it across your social media platform, it is out there for the world to see. Your audience can be a mix of passersby and people who may be interested in your company. However, how do you know whether your video accomplishes what you want it to do? How do you measure the success of your video campaign? This is where metrics come in.
In this article, we will run you through how you can track your return on investment (ROI) and why this is important.
Understanding Metrics in Video
Metrics measure how well your video is performing in terms of views, click-through rate, and other quantitative data. With this data, you can calculate your ROI for the time and effort you put into designing, developing, and launching your video.
Know Your Objectives
Because there are so many factors that go into why you filmed your video, determining the ROI can be difficult.
It is best to set what objectives your company is aiming to achieve with your video campaign. Whether you want to get more views on your content, generate more leads to your newsletter, more subscribers to your account, more sales, etc.
The metrics can then measure this after your videos are published. Did you succeed in gaining new subscribers or increasing brand engagement? Did you create an instructional or informative film for your consumers to generate leads or save time for your employees?
Determine Your Costs
The next step is determining how much your video would cost, sometimes known as your “investment expenses.”
Investment expenses might range from the cost of making the video to the cost of distribution, as well as time spent working on the video internally and outsourced work. If you’re working with a video marketing agency, they can help sort this out for you.
As a result, your ROI calculation looks like this:
(Investment Gain – Investment Cost)
It may be difficult to pin down a precise figure, but understanding how your video is performing and if it’s reaching your goals is critical.
Creating Content That Speaks to Your Audience
While cutting costs on your video may be tempting to potentially get your ROI sooner, this is counter-productive. A high-quality video is required to break through the cacophony and competitors on social media.
It’s better and more efficient to focus on how to improve your results. And you accomplish this by providing relevant content to your target audience.
Here are some ways you can improve your content:
- Get To Know Your Audience: If you’re a B2B company, you’re less likely to want some hip, young, fun message that you hope will go viral among consumers, so why waste time creating it? Instead, make sure you look at who you want your video to reach and what you want them to do and speak to them as you imagine they would like to be spoken to.
- Look into the Best Distribution Channels Where They Are: Now that you’ve put in the effort to study your topic and create your video, you want to get the word out – if no one sees it, it won’t help you. Examine the most effective distribution methods for you and your company. Is it possible to do so using Facebook or Instagram?
- Have a Strong and Concrete Call-To-Action: You’ve put in all this effort and disseminated the film for a reason: you want the audience to use what you’ve given them. So, what exactly is it? Make sure you include a call to action so that people know exactly what you want them to do with the information you’ve provided.
Effective and smart video marketing can help any business grow. You need a clear strategy to produce the best results. By having a good understanding of the metrics, you can ensure your content is seen by the right people and in the right way to gain the right results.
Are you looking for a video marketing agency in Manchester? Mighty Hero Video Agency can help you create disruptive and strategically powered video ad campaigns. Schedule a call today!