Get a return on your investment.
Video marketing has really taken off in recent times.
And it is no wonder, as 76% of businesses said that video provides a strong ROI.
It also makes sense from a consumer point-of-view. Today’s consumers are more visual than ever before and video provides a highly effective and engaging content format.
Been on Facebook lately? Every second post is a video. This probably has something to do with Facebook updating their algorithm to give greater preference to videos. But it’s not just Facebook.
Even Instagram has exploded with video content in the last few years.
And it follows that businesses need to catch up on this trend.
Sure, businesses have been creating videos for a long time now. However, there is still a lot of angst surrounding marketers, businesses and video.
“Video content is too expensive,” “Too complicated,” “We don’t have the time and/or resources.”
Sound familiar? Well, you can bet your bottom dollar that many more marketers and businesses would invest in video marketing if they knew how to get a return on their investment.
This is a common theme in our video creation blog series: creating great marketing videos is not enough.
So, how do you achieve ROI with video?
How to maximise your video ROI:
Firstly, you need to set clear marketing goals or KPIs before you create your video. Clear objectives will steer the entire video production process and be used to help judge ROI later.
Here’s 6 steps to help you create excellent goals for your video:
1) Choose a focus:
Are you trying to build awareness, educate or convert? Below are examples of each type of goal:
Building awareness eg. launching a new brand
Educating eg. educating customers about a new product
Converting eg. downloading an offer
2) Start with a broad goal:
What are you trying to achieve?
eg. Generate awareness about a new brand launch
3) Make it measurable:
Now add a quantitative qualifier.
eg. Generate awareness about a new brand launch by gaining 1000 video views
4) Make it attainable:
Now include how you will achieve the goal.
eg. Generate awareness about the new brand launch by gaining 1000 video views via social media, Google AdWords and organic search
5) Set a deadline:
Lastly, and importantly; give the goal a deadline.
eg. Generate awareness about the new brand launch by gaining 1000 video views via social media, Google AdWords and organic search by the 30th of June
6) Simplify the goal:
In its current state, the goal is clunky and overly complicated. Let’s simplify and make the goal actionable.
eg. By the 30th of June, we will have increased brand awareness by 1000 video views via social media, AdWords and organic search.
Now we need to implement an action plan in order to achieve these video objectives. And if you need more information about how to create an action plan for video; read the video creation process for marketers.
Once you have set clear goals and have an action plan in place, you can start optimising the video production process in order to get the best ROI from your video.
Keep it cost-effective:
We recently wrote 5 tips for a great marketing video that won't murder your budget. In the article, we outlined different ways to ensure that your videos are cost-effective. These included:
Clearly defining the scope of the video project
Keeping to a process in order to shorten the video production process
Keeping the idea simple and doing keyword research
Doing what you are good at and outsourcing the rest
Re-purposing your video for different platforms
These are all great ways to be cost-effective and help you maximise your ROI.
Optimise for video SEO:
If people can’t find your video then you won’t achieve your objectives and you won’t be able to justify your investment in video. Not only that, if the right people don’t watch your video then you won’t get a return on your investment.
That’s right, video SEO is a key component of achieving ROI.
In Video SEO: How to optimise for YouTube and Google, we discussed different strategies to getting your videos found through organic search results. These included:
Performing keyword research & using ‘video keywords’
Using keywords in your video’s title, metadata & description
Using the optimal video length for each platform
Including relevant CTAs at the right time
The real investment in SEO is not money but time and effort. You need to learn how to optimise videos; how each platform ranks videos and how to analyse and improve your organic search results.
Why is video SEO so important to achieving ROI? Because the more traffic you generate from organic search, the less you will need to spend on paid advertising. This means more eyeballs for less cash...
Achieve impressive organic traffic and you are well on your way to getting a return on your investment in video marketing.
Position your video to target qualified leads:
How you position your video and who you target are both crucial components of achieving ROI.
Getting thousands (hundreds of thousands?) of eyeballs watching your video is fantastic; however, a better approach is to only target qualified leads.
This approach uses highly targeted ads, relevant landing pages, personalised emails and remarketing to get your videos in front of the people who actually want to watch them.
Video ads have the highest click-through-rate of all digital ad formats. And with the internet being dominated by text-based adverts; it’s no wonder that video advertisements achieve better engagement and increased click-rates. In order to further increase your engagement levels, focus on being very specific about who you target.
Ask yourself: who will want to watch my video and how will they benefit?
According to research by Eyeview Digital, landing pages with dedicated videos can boost conversions by up to 80%. However, video alone is unlikely to achieve your conversion goals.
A video without context will lose your audience quickly... No, it is the combination of stimulating video, engaging copy and valuable offerings that will boost your conversions.
Landing Page Tip: Be very clear that you are linking to a video and explain the value of the page in the heading and preview text.
Personalised emails have been known to increase click-rates and engagement. In addition, simply including the word “video” in email subject lines can increase open rates by 19%, click-through rates by 65% and reduces unsubscribes by 26%. Be careful though; if you are sending to a lot of work addresses; some email providers block emails that contain videos. A way to get around this is by linking to a video on your website.
Remember to create a dedicated landing page for your video if you have an offering.
The principle of remarketing (retargeting) is simple. Target your videos at people who have already shown an interest in your company or have engaged with your content at some point in time. Basically, they have visited your website, interacted with your adverts or engaged with you on social media. Targeting these people removes a lot of the ‘hit and miss’ that is associated with throwing adverts at unqualified people. In other words, your video will be more relevant to your audience.
There are a number of different CRM and CMS software options available that can help you to track and analyse your website and social media traffic. These tools can provide you with valuable information to help you push out your videos to the right people at the right time. Alternatively, Google AdWords, AdRoll, Chango and Triggit all provide more comprehensive retargeting options.
Now you understand how setting clear objectives, being cost-effective, optimising for SEO and targeting qualified leads can help you achieve better ROI. Hopefully, this knowledge will enable you to move forward knowing that video marketing doesn’t need to be as scary as some people make it out to be.
As long as you are always looking for ways to be cost-effective, save time and be smarter in the ways that you target and distribute your videos – you will gradually improve your video ROI over time. And increasing your ROI and achieving your KPIs will keep everyone in the office smiling.
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