Video marketing is quickly becoming one of the most effective ways of reaching out to customers and creating brand visibility in the online space, especially for small businesses. According to statistics, 85% of businesses are already using video marketing and 88% of these are reporting positive results. In addition, video marketing campaigns are shared on social media 1200% more than other forms of content and 81% of businesses report that it is helping people spend more time on their website, generating 66% more qualified leads. This highlights the importance of video marketing campaigns in today’s digital age. However, to ensure that your video marketing campaign is a success, it is important to create a clear strategy, produce high-quality content, and measure the success of the campaign effectively.
Here, our video marketing specialists explore how to measure the success of video marketing campaigns
Identifying the goals and objectives
Before you launch your video marketing campaign, it is important to identify the goals and objectives of the campaign. These goals and objectives will help you measure the success of your video campaign. The goals and objectives should be specific and measurable. Some common goals and objectives include increasing brand visibility, generating leads, increasing conversions, increasing website traffic, and improving brand engagement among others.
Measuring video views and impressions
One of the most obvious ways to measure the success of a video marketing campaign is by measuring the number of views and impressions. Views refer to the number of times the video has been played, while impressions refer to the number of times the video thumbnail has been displayed. YouTube, Vimeo, and other video hosting sites provide analytics tools that can be used to measure views and impressions.
Engagement is another important metric to measure the success of video marketing campaigns. Engagement refers to the number of likes, shares, comments, and other interactions the video receives. These interactions show that viewers find the video engaging and shareable. Engagement is also an indication of how valuable the video is to the target audience.
Monitoring the view-through rate
View-through rate (VTR) refers to the number of viewers who watched the video from start to finish. VTR is an important metric because it shows how engaging and valuable the content is to the target audience. A high view-through rate means that viewers are finding the content valuable and are interested in the message.
Conversions are the ultimate goals of video marketing campaigns. A conversion is a predefined action that a viewer takes after watching the video. This could be subscribing to a mailing list, downloading an e-book, or making a purchase. Measuring conversions provides a clear indication of whether the video marketing campaign is achieving its goals and objectives.
Analysing the ROI of your video marketing campaign
Return on investment (ROI) is a metric that shows the profitability of a marketing campaign. ROI is calculated by subtracting the cost of the campaign from the revenue generated by the campaign and dividing by the cost of the campaign. To determine the ROI of your video marketing campaign, you need to determine the cost of video production, distribution, and promotion. This should be compared with the revenue generated by the video marketing campaign.
Measuring audience retention
Audience retention refers to the amount of time viewers watch the video. YouTube provides a tool that shows the audience retention rate for each video. A high audience retention rate indicates that the video is engaging and valuable to the target audience. On the other hand, a low audience retention rate indicates that viewers are losing interest in the video.
Get everything in place to drive video marketing success!
Measuring the success of video marketing campaigns is important to help businesses identify whether the campaign is achieving its goals and objectives – and by using these metrics, businesses can optimise their video marketing campaigns for optimal results.
If you want to get onboard with the most powerful digital marketing strategy of the year, then it’s time to work with our video marketing specialists in Melbourne! We know exactly what to do, when to do it, and how to measure it – keeping your campaigns on track for success.
At Digital Freak, we specialise in making your business a Hollywood star, rolling out the red carpet for your customers, and putting your name in lights. Book a FREE strategy call today and see what our affordable, exceptional quality video marketing products can do for you!