Promotional videos can achieve massive Return On Investment (ROI).
Really, your videos can generate more visits, leads, and sales.
You need to track the ROI of your promotional videos as you would any other marketing activity. Simply, if your videos are not generating more business for your company then you need to improve them.
Online videos provide you with a great opportunity to monitor and track ROI using analytics. You can look at the views, interactions and visits to your website. You can also use this to track leads and sales from your videos and find out which videos are generating the best results.
Although a flashy video looks great, your company and its directors will want to see the returns from your efforts.
Here’s some advice on how to measure the ROI of your promotional video:
Agree the objectives
It’s important to be clear on the goals and objectives of your videos. Are you using them to generate web traffic, leads or help sales. You may also be using them to build loyalty with existing customers or to generate more referrals.
Be clear on your objectives so you can measure if you’re actually achieving them.
Use data analytics
Use the data collected on different analytics tools – from your website and from YouTube, Vimeo and other social media channels. Using the data together you can get a good view on how your videos are driving performance, which are working and which are not.
Monitor different platforms
Monitor the different social media platforms to look at the performance of your videos, tracking views, clicks and referrals to your website. You can also look at the demographics of the people who are watching your videos. This will help you improve future videos.
Track visitors and sales
Use web tracking tools to understand who is visiting your website from your hosted videos, but also to judge the performance of your videos on landing and sales pages. There will be videos that perform well and some that need tweaking and improvement. Using the data you can make the judgement based on the behaviour of your target audience.
Monitor distribution strategies
You can’t just build it and then expect people to find your videos. Try out different ways and techniques to distribute your videos and see which generate better results. Test them out and track the performance your videos get, and always relate it back to your goals and objectives. If your goal is focused on leads then don’t overly dwell on the number of views you’re getting. If your videos are achieving a great conversion rate on low traffic numbers then you’re doing well.
Conclusion
Your promotional videos can generate ROI. It is important to measure the ROI of your promotional videos to ensure that they’re meeting the goals and objectives required by your business.
Track the ROI of your videos to ensure that they’re improving and supporting the marketing strategies of your company.
How do you track the ROI of your promotional video?
