COPIED FROM PENROSEPRODUCTIONS.COM BLOG
How to Measure the Success of Your Marketing and Sales Videos
If you’re a content marketer or advertiser, there’s no doubt you know the power of video marketing. Video is one of the top resources that potential clients and customers turn to when they’re doing pre-purchase research and want to learn more about a business’ offering. Video content, done correctly, is one of the best ways to market to these new potential customers while also keeping your current customers engaged.
The question we most often hear about video when it comes to marketing and sales is how to determine its success. In essence, how will you know if it’s working? This is a really important question to answer because if it’s neglected, you may find yourself spending unnecessary time spinning your wheels (or ‘reels’ in this case!) without seeing any results.
Before you start any video marketing, you want to make sure you have goals set in place and an understanding of the metrics you’ll use to track the achievement of those goals. The most common goals for video marketing are:
– To Increase brand awareness and drive engagement
– To Generate leads and drive sales opportunities
– To Drive traffic to website
– Encourage subscriptions to a service (whether it’s a mailing list or video-based premium feature)
Once your goals are set, and you’ve got your video up and running, you want to begin measuring the impact your videos are having by examining the metrics. To strategically do this, you need to look further beyond the ‘views’ metric. Sure, this is a great place to start, but it’s only the tip of the iceberg. You need to drill down deeper to the metrics listed below if you want full insight on how your video marketing is performing:
Click-Through Rate: How many people are clicking from your video to your website (especially if your video has links embedded leading directly to your website or another landing page)? Click-through rate is a great indicator of a strong video as well as consumer interest in a product. Individuals that click-through most likely have some level of interest in learning more about your product or service making this a strong metric to determine lead generation opportunities.
Shares and Likes: If you want to maximize brand awareness, build social credibility and reinforce thought leadership for your brand, social shares and likes can give you excellent insight to how you’re performing. This is a great ‘immediate’ goal to have if you’re trying to build brand or product awareness (as opposed to going in for the direct sell).
Conversion Rate: If you’ve got the proper analytics installed, you can measure the customer journey through your website, and from this, investigate where your customers are going after watching your video. If they’re going to your ‘Contact Us’ page or visiting your e-commerce store, your video is most likely doing an excellent job of converting (depending on what your goals are). If you’re noticing a high bounce rate, this could be an indication that you need to spend some time re-examining your video content and strategy.
It’s clear that video is an important part of your marketing and sales content mix, but we hope we’ve also illustrated how important it is to clearly outline your goals, as well as the metrics by which you’ll track those goals when you’re producing those videos. Monitoring your metrics is the best way to tell whether your efforts are successful or not and can help you determine whether you need to adjust your strategy or if you should keep on rolling with your present (and successful!) marketing and sales video strategy.