According to a 2015 B2B Video Content Marketing survey from Flimp Media and ReelSEO, measuring return on investment (ROI) is the biggest obstacle to video marketing for 44 percent of small- and medium-sized businesses.
There are a variety of ways to measure the success of a specific video — from viewcount to watchtime, shares and comments — but how do you determine whether your video marketing initiatives are worth the time and money you’re investing in them?
We’ll take a look at three metrics to help you get started determining exactly what you’re getting out of your video marketing — lead generation, engagement, and revenue. These are far from the only three metrics you can use to monitor video marketing, but they’re powerful and a great starting point.
Video can be a powerful tool for lead generation. Your video content can capture the attention of new customers, initiate new interest in your products and services, and entice potential clients to share information with you.
Want to generate more leads with video? Try one or more of the following techniques:
The leads you’re generating as a result of your video marketing can be tracked in a variety of ways.
Some video hosting platforms give you the ability to incorporate email capture into your video player. Check out the image below of Wistia’s Turnstile as an example of this. Tracking the number of emails captured on each video is an easy way to track how well those videos are working for lead capture.
Want to understand how much traffic your videos are driving to your website, landing page, or specific product page? Add tags (called UTM parameters) to links shared alongside your videos so you can track them more effectively in Google Analytics. Google’s URL builder makes this easy. Just enter the basic website URL, campaign source, medium, name, and any other differentiating information.
Adding this information to your links will help you organize your data in Google Analytics so you can see exactly where your traffic is coming from. Want to learn more about how to create and use tracking links? Check out this great post from our friends at Sprout Social.
When it comes to measuring ROI, nothing’s more convincing for proving that something’s working than cash money. Unfortunately, revenue is also one of the most difficult metrics to measure in video marketing. You may never know for sure which of your customers paid for your product or service solely because they watched one of your videos, but there are a variety of indicators that can reveal how your video strategy is impacting sales.
Curious about how your video marketing initiatives are impacting your bottom line? Here are some ways to find out:
Adding videos to product pages? Compare revenue generated by those products before and after video was added to the product pages, as well as how much revenue is generated from products with videos compared to those without.
Tracking links, as discussed above, can also be used to understand how video plays into the customer lifestyle. By including a tracking link along with calls-to-action where your videos are hosted, you can keep track of customers that watched a video, or visited a page with a video, before making a purchase.
PRO TIP: If you’re using Animoto, you can include tracking links when you add call-to-action buttons on your videos so you can see how many people landing on a specific page did so from clicking on your video.
Some video hosting platforms, such as Wistia, offer powerful video analytics suites that provide everything from demographic information to what actions viewers take after watching videos, including rewatches, CTA completions, and email submissions. Taking it one step further and feeding this data into sales and marketing platforms like Infusionsoft, Hubspot, Marketo, Pardot, or AWeber, will give you even more insight into video activity across the customer lifecycle to help you determine what videos your paying customers are watching.
When it comes to video, it’s important to understand that it’s not all about the money. Video can be a great way to build a relationship with customers and get the word out about your company.
When a customer engages with you and the content you’re sharing, you stay top of mind for them and they’re more likely to think of you the next time they need to purchase a product or service that you offer. For this reason, engagement is an important metric to measure when trying to determine the ROI of your video marketing. Ultimately, the more engagement, the better!
When we talk about video engagement, we’re talking about a few different types of metrics.
When someone “engages” with your content, they’re going a step further than simply scrolling past it in their news feed. How many people liked, commented on, or shared your video? These are the primary metrics for measuring engagement around your video.
How many pairs of eyes did your video find itself in front of? This is a direct result of the number of engagement actions taken on your video. As people like, comment, and share, your video gets further reach, which is great for brand recognition, and also opens up the gate for new leads.
How much of your videos are people actually watching? Are they only watching a few seconds before losing interest or making it all the way to the end? Monitoring this can help you get a sense of how people are reacting to your video content, and help you reiterate and improve.
All of the major social platforms (where the most engagement is happening) offer really great analytics suites that make it simple to track engagement, including Facebook Page Insights, Twitter Analytics, YouTube Analytics, and others.
On Facebook, you can easily sort Insights by Post Type to see how your videos stack up against the other types of content you’re posting (in terms of reach and engagement). On Twitter, you can see whether your videos made it into your Top Tweets.
There are also third-party social media management services, like SproutSocial, that will track engagement across all of your social channels.