Video marketing seems to be the talk of the town, especially with Facebook’s algorithm evolving which is now offering more real estate and visibility to video marketing.
Holistically speaking, video marketing has the 3 objectives- building brand awareness and trust, educating customers and pushing sales. It is essential to decide what you want to achieve at the end of the campaign. If you are aiming to achieve all 3 objectives you must segment your content and assign weightage accordingly.
The question arises, how do you effectively evaluate your ROI? Worry not, the next 5 minutes of your time will give you rich insight into measuring your ROI!
REG (R – Reach & Retention, E – Engagement, G – Goal Tracking) is very important to measure the success of your video marketing strategy. Read further to know why
- Measuring Reach and Retention –
- Views – Every platform will give you a tool to track the views on that have taken place for your video, but be careful, this is one of the most misleading metric, numerous views does not necessarily translate to a successful campaign.
- Watch Time – Watch time is correlated with engagement; it is a very valuable metric in estimating ROI. It gives us data for how long your viewers are engaged in the video and at what point are people dropping out. This helps in formulating better content strategies for the future.
- Measuring Engagement –
- Shares – Social Media sharing is one of the best and easiest ways to track engagement, especially if you are focusing your campaign on social media. Some of the strategies for best video marketing have shown increased shares compared to the regular benchmark for social media shares.
- Comments and Feedback – Well, this point is self-explanatory. More shares and feedback means the consumer is interested and engaged. Negative comments and feedback are obviously not good signs and indicates that some changes need to be made.
- Backlinks – Videos are most likely to be shared; therefore it becomes the easiest medium to create backlinks. Keeping track of this metric will help you assess how your video content is playing into your SEO strategy. SEO rankings are often more tangible in terms of ROI, you increase your ranking which automatically leads to more organic traffic on the website.
- Goal Tracking –
- Click-Through Rate – Taking your campaign goal into consideration, your click through rate is one of the most important metrics and needs to be monitored at regular intervals. Your call to action is a very important aspect of your CTR, it can boost the efficiency of your video.
- Sales and Inquiries – The end goal of all marketing is to increase sales and inquiries, to track your ROI it is a must to track your subsequent change in inquiries and sales. There are various methods of establishing a correlation, using Google Analytics to track a customer journey is one of the methods.
- A/B Testing – A/B testing is an extremely useful and efficient technique to assess video efficiency within the website or within email marketing newsletters. A/B testing allows you to gauge efficiency and make tactical tweaks to improve consumer retention and efficiency. These metrics are very powerful and can play an important role for goal tracking.
There are various digital marketing firms that can help you out with some of the best video marketing campaigns. Opting for one of the top digital marketing agencies in India might be a good idea if you plan on investing huge amounts in digital marketing.
There are numerous benefits of video marketing for business, you can always consult an internet marketing agency for the same and make your RIO roar!