ROI is a common term for every marketer; especially for digital marketers. In a competitive world these days, every minute is precious as everyone can see a piece of advertising in a few SECONDS only!
What should you do in 6 minutes? How should you attract your prospects in the first of 3 minutes? This is a hurt true that you need to face and practice as a marketer or a business owner. However, you should keep calm and stay ahead of your videos. At the same time, you need to measure the ROI on your marketing videos. But how?!
- 1 Why should you set up the ROI on your marketing videos?
- 2 How to measure the ROI on your marketing video? (The main way)
- 3 Some factors to draw attention when measuring the ROI on your marketing videos
- 4 To wrap up
Why should you set up the ROI on your marketing videos?
A normal video does not require a solid strategy as it helps audiences relax. It could be created by someone to show their talents or they want to prove something in real life only. Nonetheless, a marketing video is a way to improve your sales revenue and appeal audiences in the upcoming time. This is the reason you should make serious strategies in every marketing campaign.
Be sure to have a solid understanding of what you will want to achieve. Then, you should balance with your expectations. By doing this, you enable to bring up a video marketing campaign in a long period of time.
The success of a marketing video is often taken by all efforts of yours. However, please keep in mind that your attempts will not deserve the true thing at all. These also depend on several factors such as marketing content, your niche, the hobby of your clients, etc.
Let’s see this example… Calculating the success of your videos on YouTube channel is different from your newest TV shows. Although the financial for marketing video is smaller, it will get some targeted audiences which you can convert to profits easier. Sometimes, it is so difficult to measure between traditional marketing method and digital marketing.
How to measure the ROI on your marketing video? (The main way)
To help you minimize this point, I will show you a basic formula that you enable to apply in every video on your plans.
ROI = (Investment Gain – Investment Cost) x 100
When calculating the ROI of video, you should make a total of the gains and costs of the content and apply the equation. The way you measure these gains will rely on your credit model.
For the most exact consequences, you should calculate the gain of your video content like any target for that content.
For instance, if you made an educational video to produce leads on your website, then the achievement for that video would be the number of followers you controlled to create in a certain time (it is referred a monetary value from your lead value or conversation rate as well).
Some factors to draw attention when measuring the ROI on your marketing videos
Controlling your content in the key search terms should always on your top necessary lists. If you want your marketing video can support the audiences resolve an issue or query. Make sure your marketing video is being viewed by the true audiences. A high rank will boost your reach and increase other key metrics to extend the search rankings for your video.
A view is easy to measure, but you should not equate a large number of view with the success of your video. This is because several people watch your videos do not mean that they will buy your product or be using your company’s service. Sometimes, they are just curious!
Your view will help you have a better understanding of how many persons your video has gotten only! Do not just concentrate on the number of viewers and forget other metrics that will affect your final consequences and campaign as well.
Offering your view count with a stronger concept, this point will help you know the number of percentage of your visitors. In fact, they are truly clicking in the play button and catching to your video content at once. If the number is lower than you expect, you will think of this additional attention is required or not.
The period of time of watching
Another tremendous key metrics that you should not miss out is the watching time from viewers. These numbers also show you that how much time people are taking watching your video (seconds or minutes).
See the percentage to estimate the result. With high percentages, your videos will be more successful and many viewers are engaging you. If you find out that audiences cannot find your content video, you should check the format and length of your videos. Take your calls to action in the first place of the content.
The figure of subscribers
Increasing your subscriber foundation will support you to boost your reach, but it will also give you some practical database that you need to analyze and find out the demographics of your current audiences.
Check the social shares on your videos will provide you a greater background how well your audience is reaching out your videos on the social funnels. If you are going to create videos for social media, you will need to stay focused on this point in advance. This is an extremely important metric to check.
Apart from boosting your engagement, views, and subscribers, you will attain the kinds of content your targeted audiences want to share with their friends and other followers through social funnels.
Click through rate – CTR
This database will help you have a clear understanding of how convincing your video content is at inspiring audiences to subscribe your videos and do your calls to action.
In case you wish your viewers click to a specific page through your website for knowing more details, they should log in the mailing list or follow your page on social interfaces. It is practical to understand the percentage of your audiences is following and how you should enhance these numbers to gain your final goals.
A video is a good way for everyone to share and this is another incredible to leave backlinks. Though the video is not the best idea for making many backlinks, it is still a random way for building backlinks when your audiences share videos. This will improve the onsite traffic in the Google Index.
To wrap up
If you want to know the influence of a marketing video, you will need to notice the ROI. This is great evidence that you should show for your managers or big bosses to invest in the marketing video field in the long period of time.