Whether you count yourself as a Marketer, a Marketeer or just someone with a keen interest in communications, you’ll no doubt already know the power of video as an effective way of getting messages across.
Video is also one of the most fun, entertaining and enjoyable marketing tools to receive and produce (certainly beats stuffing letters into envelopes!). Video’s fun side and it’s relatively high budget is perhaps why it’s constantly under scrutiny to deliver a return on investment. But video can be a tricky beast to measure, so with the New Year just over the horizon, here are our key performance indicators for video:
If you’re not tracking this most basic of measurement then I’ll throw the book at you myself, never mind your Budget Holder! You simply have to monitor how many people watch your video, how many times and if possible, who they are. Without these figures, how can you begin to justify the time, money and sweat you poured into your content?
Next on the list is engagement and by that I mean how many of your viewers actually watched the whole thing? To do that you really need to want to see the content. Whether it’s adverts blocking an immediate play, other ads distracting you or just something else……..
Your video may be the most important thing on your agenda this week, but it won’t necessarily be your for recipients. So ensure you keep tabs on how much of the video the audience watches and correlate their drop off point with your video timeline. If possible can you re-edit the clip to make it more engaging?
Desktop vs Mobile vs Tablet
Where your audience watch your videos is as important an element of the planning process, as it is for the delivery of your finished footage. Having a playout system that can handle multiple delivery channels seamlessly is a massively important factor in modern marketing communications. Monitoring what channels are used at what times your video is being watched, which in itself can be a useful indicator of when the audience is engaging with your brand.
For most commercial businesses, generating leads from your activities is a core metric that all Marcoms activities are judged on. At Aframe, we closely follow the impact our own videos have on lead generation and ensure that our activities are as aligned as possible. So are you in a position to track video views alongside lead generation? That might be important when you’re asking for more video budget and you frantically try to link this year’s hottest customer win with video.
The ultimate metric is of course return on investment, or what value do we get if we spend this money? For video it’s a very tricky one to justify because there’s so little direct spend from video alone. Apart from lead gen above, you should also examine Sales Opportunities and Customers that watched your content. Another way of measuring video is in upsell, like when Virgin Holidays managed to achieve 50:1 ROI in 6 months by using a video to explain the benefits of flight upgrades.
What KPIs are you using to measure the value and impact of video at your own organisation. Let us know in the comments below.