Video is an insanely popular media medium, and brands everywhere are looking to capitalize on this surge of interest. It’s also a valid marketing strategy as it generates good ROI with a fast turnaround. You’ll often see incredible results when you combine the “clickability” of video content with a well-executed marketing plan.
But where do you even find these results? Here’s everything you need to know about your video’s ROI and how you can optimize it to improve your brand’s online presence.
What is ROI?
ROI stands for “return on investment.” Your ROI is decided by comparing your marketing costs with the profits you see from the investment. Video marketing ROI will tell you if your video was or wasn’t effective. Analyzing the results can help you pinpoint areas with room for improvement or generate new ideas to take your campaign in a new direction.
How Do You Determine What Makes a Video Successful?
Videos with successful ROI will effortlessly snatch the viewer’s attention. One of the struggles with creating good video marketing is that there’s already quite a lot of it. And as short-form videos become more popular, viewers’ attention becomes more fractured. So videos with a good ROI often find a way to be exciting within the first minute or even less.
Good ROI will also net you more traffic. Engaging videos have a much higher probability of being seen by lots of people. Ideally, this generates interest in your brand, increasing your exposure and driving more curious clickers to your brand’s website.
Tracking Your ROI
There are a few different ways you can start tracking your ROI on videos today. Metrics such as downloads, likes, or comments can all be considered data you can use to see if your investment is paying off.
Shares and impressions are also excellent ways to track a video’s ROI. Many social media websites have free tools that allow you to view these statistics. But numbers won’t tell you the whole story: the conversion rate is vital to nail down to understand how well the video is truly performing.
To determine the conversion rate, start with a baseline of how a webpage performed before and after the video campaign. Other factors, like audience retention or average video view duration, are valuable for knowing how well the video held the viewer’s attention and at which points they lost interest.
Improve Your ROI with the Help of a Video Production Team
Video production teams are fantastic resources for parsing and utilizing your video’s performance statistics. A professional video production team can easily optimize your distribution channels and make recommendations for current and future campaigns.
And since they’re in the business of producing incredible videos, working with a video production team on your brand’s next marketing video can help increase your ROI. They’ll use their knowledge about media and how it’s consumed to create click-worthy content that will increase your site’s traffic.
So whether you need help with a current project or are ready to start a new one, a video production team is a worthwhile investment for anyone looking to expand their brand to every corner of the Internet.