The stats show that over 90% of digital marketers have successfully incorporated video as a key component in the marketing mix. With that said, one thing remains the same, the need to prove ROI is still relevant and we’re constantly searching for answers. Marketers seem to vary on the definition of ROI and in most cases video initiatives fail because lack of a clear agreement on business objectives. In this short bulleted article we attempt to provide three dirt simple ways to measure your video marketing ROI.
- Tracking Views: The most basic and easiest measurement of success metic is the number of video views your video gets.
- Get Specific: Analyze by the number of paid views (PPC, YouTube pre-roll, Retargeting, social, etc) vs organic (social shares on Facebook, Twitter, etc.)
- B2B vs B2C: In the world of B2B video, a low number of views is not necessarily a bad thing, if you’re getting views from the right people you are looking to engage with, then your video marketing is working. For B2C marketers looking to push brand or drive viewers back to purchase products, a high volume of viewers is the goal.
- Video Player Behavior: An easy way to determine broad video engagement is to look at video play rates and completion rates to determine if the audience is consuming your video content.
- Social Engagement: The number of times the video has been liked, shared, re-tweeted, favorited, subscribed, followed, etc. across social.
- Two-way Conversation: Are viewers commenting on the videos across social media channels? Dig into YouTube and Facebook comments and analyze what people are saying about your content.
- Web Backlinks and Press Coverage: Has your video been embedded on other websites, included in other blog posts or written about in formal press coverages?
- Click Through Rates: Provide a clear and concise call-to-action in or around the video player for viewers to click through to a website or fill out a lead form. Measure the number of people that convert and the quality of conversion.
- Cost-Per-Lead: Assign a dollar value to each lead generated by your videos, compare the cost of the video to the value of the leads produced.
Stick to the basics, begin with a clear agreement about business objectives, get buy-in amongst the team and video marketing success will be easy.