How to measure ROI when making a video

//How to measure ROI when making a video

How to measure ROI when making a video

When making a video don’t just make it for the sake of getting on the video band- wagon. Make it to solve a problem, and then make sure you measure how successful the video was at solving that problem.

Most videos are made without a strategy, so here are a few tips on how to measure the return you’re getting on a video.

The first tip is to use Wistia as your video hosting platform. Wisita is like Youtube or Vimeo in that it hosts videos – but when it comes to analysing the performance of your videos, it blows Youtube, Facebook and Vimeo out of the park.

Knowing more about the performance of your videos helps you understand what is successful and working well, and what you can improve on in future videos.

So let’s look at common problems that small business owners have, how video solves them, and how you can measure whether they are having a positive impact on your brand.

Time is money

Video saves you tonnes of time. This is probably the biggest value we at Serious Levity bring to our customers and one of the easiest metrics to measure.

Do you have on-boarding strategies in place in your business, be it training, HR, inductions etc? Then think about producing a video that saves you having to give all those boring powerpoint presentations.

If a video stops an employee on $500 a day giving one presentation a month, then in a year you can measure the ROI on that video as $6,000.

Check out what Gabriela Rosa has been doing through our videos. I has allowed her to see up to 3x more patients.

Getting the right exposure

A lot of our customers worry that no one is going to their website, and they have to chase their leads instead of potential customers coming to them.

Video is the easiest, most digestible way to be seen and heard. And how do you measure if you’ve been successful at elevating your exposure? Simple through views.

Set yourself a target of how many views you want to achieve for your video. How many are you going to pay for through Facebook and Youtube advertising. And how many do you want to achieve organically. After the video has been produced, go out there and hit that target. It can be done by putting some money behind it, but if the video is engaging enough this can be achieved (and even surpassed) organically.

Making a connection

You need to engage with your audience. In this quick video tutorial we show you how to create engaging videos that keep people watching. But as we’re talking about Return On Investment here, the way we measure connection is by seeing engagement levels.

The equation Wistia gives is Engagement = Hours watched/(total plays*video length). Luckily Wisita does all that in the background and tells you an average engagement per person who sees your video. Under 50% is not great – it shows you’re not really connecting. Between 50 and 60 is OK. 60 and 70 is good. 70 and 80 is great, and anything above the 85% mark is phenomenal.

Lead generation

You want your videos to turn people into prospective clients. Measuring leads is the best way to do this (and you can compare it to other lead generation platforms like EDMs or cold calling). You can measure whether your video has been successful by putting a Call To Action (CTA) directly on your video at the end of it and measuring its results.

“Sign up by clicking here”, “shop here”, “learn more” – all these CTAs will be indicative in whether people are connecting with you. Wistia allows you to measure what percentage of people prompted with your CTA actually go on and click on the button. This is a great way of getting email addresses of prospective clients too.

Conversion counts

Probably the biggest measuring tool is conversion as it shows the dollar figure coming into your business, which you can then measure against money spent on the video.

If you link your Google Analytics account to your Wistia account you can create segments to compare conversion rates and bounce rates between people who watch videos against those who don’t. This analysis helped Serious Levity determine that our videos were quadrupling conversion rates in one of Australia’s largest e-commerce sites. That was one hell of a finding…

Don’t forget to download your FREE guide on the 27 different videos you can film in ONE day to help boost your business.

By | 2018-04-29T03:17:43+00:00 July 23rd, 2018|Uncategorized|0 Comments

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