How to Track your Video ROI and Improve?
The ROI is like the roller coaster full of ups and downs and very confusing to understand. And it is even more complex to understand for the video. It is not that if it is confusing it is not worthy to consider.
But it is very easy to understand and track the ROI of your video and get a huge Return on Investment. On this basis around 52%, marketing professionals around the world say that video has the best ROI than any other type of content.
In this article, we explain how to measure your video ROI and then give tips to get the best results from the investment.
How to calculate Video ROI?
While calculating the ROI of the video, you have to calculate all gains and cost of the content and put the values in the equation.
The calculation of what gains is to add is dependent on your financial model that how your audience contributes it like in sales or conversion.
For exact results, you have to count the gain of your video content. Like if you publish an educational video for generating leads on your site, the gain for that video is a number of leads on your site and the gain for the video have a number of leads generated in the specified time limit as it is a monetary value according to lead value or lead conversion rate.
The gains and cost of video production can be anything.
Here is the list of investment gains for the video and the cost of video production.
Investment Gains for Video
- Subscribers
- Leads
- Customers
- Brand awareness
- The monetary value of the sale
Investment cost of Video Production
- Content producing cost
- Paid distribution
- Time spent
- Strategic Work
This is how the ROI of the video calculated. Now how to get the best results.
For improving the ROI of videos, you have to reduce their cost or increase the gain.
Some may contrary to that for getting the best results, it is good to invest in excellent video content. Here we explain the 6 most effective ways to get high gain from the video.
6 Excellent way to Improve ROI of your Video
1. Must have Clear Objective
Without any concept or goal of the video content, there are two main problems one is you don’t know how to create content and won’t able to find success after it created.
The base of any successful video is its objectives.
For getting better ROI from videos you have to start with the basics. What is required for content? What is success in your terms?
- Increase brand awareness
- Boost in Sale
- Improve Conversion rate
- Educate your Audience
- Change Employee Behavior
First set your goals and make SMART. From this, you can create effective video content.
2. Understand Your Audience
It is not suggested to create a video about service or product without knowing your targeted audience.
Note that your video is not about you it is about your audience and their needs. The audience may be your customers or your employees, it’s still applied. Without providing genuine value to your customers, the video is not useful or able to engage the audience. There is no way to get a positive result of investment in a video without engagement.
For this take your time to know about the targeted audience and set according to it, the create and marketing strategy.
3. Distribution Strategy
It is hard to get a good ROI for your video content if it did not get success in the initial time. And for that, you have to know where your targeted audiences are, on which online platform they active, and how your video reaches to your audience.
By distributing effectively your video content with various ways and different platforms, make sure that your video got views, engagement. Then you will get a good result in your video. The base of the success of your video is depending on the content in the video. More the audience watches your video, you’ll get the best ROI.
Spend sufficient time for planning to where to share the video content on different social media platforms.
4. Add Call-to-Actions
Once you know how to reach your audience and how to grab attention. And what you require to do the audience after watching your video.
Now if you want that viewers take action after watching your video you have to add a Call-to-Action at the end of your video. Note that don’t leave on the audience to take chance. Provide a way to know what to do after watching your video like visiting your site, filling out a form, or put an item into basket.
By inspire viewers to take action, you’ll have to improve your videos which increases the ROI.
5. Reuse your Videos
Sometimes we reuse different kinds of content why not reuse the video content? Reuse the content on different channels in different ways. This fully depends on the video content you produce, could include:
- Edit your video in smaller parts and share on social media
- Write blogpost base on your video content
- Reuse footage for different platform
With reusing the video content, you’ll get more return from your videos which you already made which means you have less spent on creating new videos. When you find that what your audience wanted, you can reuse more and more videos as your content.
6. Track the Results
You have to track your video content performance. This will help you to track your ROI effectively and make a strategy according to it. There are also various factors to consider to measure the ROI.
Play Rate
It is the measure of the view once it loaded. Like if the video has a 70% play rate means your video is being watched 7 out of 10 times it loaded. The higher play rate shows that your video is being more suitable for the platform and viewers are like to watch your video.
Engagement
This is the average of how much your video viewed watched in total. The average engagement of 85% means an average of 85% of viewers watch your full video. Means higher the engagement, the audience watches your video for a longer time and knows about business or product.
Click-through Rate
This is the percentage of how many viewers of your video click on Call-to-Action. For example, if your video has 67% of click-through-rate means 67% of viewers are click on your Call-to-Action. The higher your click-through rate more the viewers are taking action after watching a video.
Don’t confuse with the statistics. The goal must be continuous improvement by learning how your video performing and you can make better videos next time for your audience. With these tips, you can improve your gains and ROI of your video.
Final Words
This is the information about how to measure ROI and different ways to boost it.
The improvise your ROI of your video is creating a smart video. If you plan good and audience enjoy it, distribute very well on different platforms sure you’ll get the best return on investment.
Use these tips for getting better ROI and get more benefits from your video content.