Video has appeared to become the dominating power of the online world, and with its rising popularity video has made its place in the marketing strategy of big brands. The inclusion of video as an important marketing strategy enables every business to build brand identity, boost social followings and secure valuable new leads.
Despite its universal acceptability, there is still a huge amount of confusion as to exactly how a video is helping a business to achieve their goal. Perhaps a lot of confusion and misleading data on video marketing that don’t give a clear idea on how much ROI is generated from a video marketing effort.
The good news is you can track ROI of your video by using some video marketing metrics. The only bad news is that it is so easy that you will surely kick yourself for not doing it so long.
A simple framework and a few metrics will give a clear insight on whether your video marketing campaign is working for you or not. In this article, we are going to reveal how to track and measure the ROI of your video.
1. Search Ranking:
Monitoring the ranking of your video for the searched keyword should be your top priorities, especially if your video addresses specific issues or query of your targeted audience.
2. Number of Views:
Accumulating view count is the easiest way to measure your video success. Although view counts can be equated with the success of the video.
Video views give good understanding on how much traction your video has achieved, but this doesn’t mean that the viewers viewed the video till the end or acted on your CTA.
3. Watch Time:
Another key metric for tracking the success of your video is the watch time. Watch time will let you know how much time exactly your viewers are spending watching your video.
This metric is displayed in the form of the percentage. Generally speaking, if you found a higher rate, that means viewers found your video engaging and interesting.
Conversely, if the percentage degraded or percentage not showing any satisfactory result, this signifies that you need to review the content and length of the video closely, especially if the call to action is given at the end of the video.
4. Subscriber Base:
Having a plethora of subscriber base indicates the success and popularity of your regularly produced stuff.
Expanding subscribers also signifies that your channel is getting exposure. This is not the end, your subscriber base also gives you insight on the valuable data that you can analyze to ascertain the demographics of your existing audience.
From here you can ascertain about one thing that weather your video content is attracting people, or you need to revise your marketing approach.
5. Count the Social Shares:
Keeping an eye on the number of social shares give you a good idea of how well your video is performing in social media.
If your purpose of creating video is for promotion only, then you should take social media seriously. Social media is now considered as one of the trusted platforms for expanding reach and building network. Secondly, counting social shares also enables to know the taste and preference of the viewers.
So counting the number of social media shares should be another metric for judging the ROI of your video. By measuring social shares, you will gain knowledge about the types of content your target audience wants to share with their friends and followers on social media.
6. Back Links:
A video is incredibly shared content compared to any text content. But still, a video is not much suitable for gaining back links. So even if your video failed to bring out tons of back links like your blog, then also you need to check from where your video generated those scanty numbers of backlinks. Because it helps you to assess how your video content is playing into your SEO strategy.
SEO metrics are often far more tangible in terms of ROI, as rankings increases ultimately lead to more on-site traffic which can be closely assessed through Google Analytics.
7. Click Through Rate:
Click through rate will give you a clear indication of how persuasive your video content is at encouraging viewers to follow your call to action.
The CTA button at the end of your video will direct your audience to click through to a specific page on your website for further information,sign up to your mailing list or to follow your posts on social platforms. These are the things that click through rate can do for you. But how it will help you in measuring ROI of your video? So, if you want to check the ROI using click through rate, then it is important to understand what percentage of your audience following through CTR and how you can improve these figures to achieve your goals.
8. A/B Testing:
It is, in fact, hard to track how well the video is performing on your website. However, the solution lies with A/B testing. A/B testing can be an extremely useful technique to assess the video efficacy which is on your website or within your email marketing newsletters.
A/B testing comes handy in monitoring the conversion rate or clicks through rate over given period of time and across two different approaches. Tallying the result of two separate marketing approach you can come to a conclusion which approaches to ditch or which one to adopt.
Digital marketing is in the constant state of evolving, for this, video marketers need to adjust their marketing strategies to make it compatible with changing audience expectations, variable conditions of the marketing and seasonal changes and trends of digital marketing.
For any business owner, it is indispensable to measure the success of the marketing strategy. Assessment of the marketing strategy is necessary to ensure the money and resource that you are investing for branding purpose is a total wastage or worth. This means your data regularly and accurately will ensure your tactics and campaigns are working.
Is your video content reaching your target audience? Are your viewers engaging with your video content in the same way as you have expected? These are the questions you need your video to be answered by judging the ROI with as much accuracy as possible.