How To Measure The Sales Impact of Your Videos (3 Focus Points)

How To Measure The Sales Impact of Your Videos (3 Focus Points)

If you’re spending your marketing dollars on video content, good job. When done right, video content achieves incredible ROI. But just having Ydraw create an awesome video for you and then setting it free on the internet would be unwise. You need to track what it’s doing. Is your video actually working for you? You need to know how to measure the sales impact of your videos. Here’s how.

Conversion Rate

First of all, you need to track the conversation rate. How many people are taking the action you want them to after watching your video? If the percentage is lower than you expected, you’ll need to do some research. Maybe your call-to-action isn’t as compelling as it needs to be. Perhaps your target audience isn’t being found because you’re not using the right platform. These are only two of the who-knows-how-many reasons for your video’s performance. Dig in and get the data.

On the flip side, if the conversation rate from your video is good or better than good, find out why. Do research on what’s causing it to work so well so you can replicate those things in other areas of your marketing – including future videos.

Engagement Rates

Next, you need to measure engagement rates. Use analytics and software to get your answers. What percentage of viewers are watching the whole thing compared to how many are clicking away before it’s over? Is there’s a particular moment in the video that has the highest clickthrough rate? How many likes, shares, and subscribes is the video producing? Depending on your video host, there are many more metrics you can measure that are very helpful.

If your engagement rate is low, then you’ve got some figuring out to do. Video comment sections can be a helpful way to learn what people think about it. If there’s a pattern in the negative feedback, that should allow you to pinpoint some of the issues. Don’t be afraid to engage with customers directly and ask questions, whether via email or right there in the comments.

And, just like we mentioned above, if your engagement rate is awesome, do similar research to make sure that you understand what’s working. You’ll want to implement these practices in future marketing efforts.

Vanity Metrics

Do your best not to be fooled by vanity metrics. What are vanity metrics? These are things like the number of comments, likes, and views a video is getting. The reason we say not to be fooled by them is because even though those things generate excitement for you, a lot of times they don’t correlate to increased sales.

However, we’re not saying that more views is always disconnected from sales. You’ll have way more conversion opportunities the more views you get. You may just need to a little optimizing. Revisit how the video is placed on the page, the video’s size, and its thumbnail image. It’s common to do a lot of experimenting with these types of things to find out what generates the best results.

How to Measure the Sales Impact of Your Videos – Conclusion

Don’t make the mistake of failing to monitor the impact of your marketing dollars. You’re wise to spend them on video content. But just because video content has a historically high ROI doesn’t mean you don’t need to monitor it. Now that you know how to measure the sales impact of your videos, get in the habit of viewing the analytics. Don’t try and let the video do all the work. Lead and guide it to generate the most sales possible.

Video Marketing Trends

Video Marketing Trends

As most of you know video advertising is on the rise.

According to forecasts by strategic media consultancy MAGNAGLOBAL, 2012 will see the continued decline of the magazine and newspaper advertising industries.

Emarketer Trends 2012

By contrast online advertising is set to grow by over 11%, claiming 20% of the worldʼs advertising dollars and overtaking print as the second biggest global media category after television. Within online advertising, however, video marketing takes the cake. Last month eMarketer predicted that 2012 will see an online video ad spending rise by a jaw-dropping 43%.

Why is online video such a runaway train?

  • Itʼs engaging. Just like TV, online video gets your message to viewers when theyʼre most likely to see and listen to it. This effect is magnified when viewers are looking for informative content in your niche.
  • Itʼs trackable. Recording the number of people who actually view your video or click on your ad is trivially easy, and, unlike estimated TV audiences, those numbers actually mean something. If someone clicks on your ad, it wonʼt be because theyʼre waiting for the soccer to start.
  • Itʼs shareable. More than any other medium, the viral potential of online video makes it a probable source not just of increased traffic but also increased backlinks to your web site, boosting your SEO. If the videoʼs includes great information, be it in the form of graphs, graphics, original journalism or research, bloggers and other content creators are more likely to embed it on their own sites and punt it to the Twitter followers and Facebook friends they know will be interested, spreading your message further than brute force tactics ever could.

As advertising moves from an age of campaigns to one of conversations between brands and consumers, associating your brand with the things people want to share and talk about is the way forward.

Creating meaningful, useful, beautiful content is what is all about, and the relevance our animations have for searching visitors is vividly illustrated with our exceptionally high click-through rates.

Contact us for more information.