Digital marketers, campaign managers, marketing analysts and other professionals all want to improve the impact of their video marketing efforts. The only way to do this is to measure video marketing ROI. This involves analyzing metrics and using the insights to make their campaigns more effective and improve business outcomes.
Return on investment (ROI) offers a concrete way to measure the success of video marketing efforts. Measuring video marketing ROI involves tracking various metrics. With the insights they gain from these metrics, marketers can make better decisions. They can optimize their strategies and increase profitability. A high ROI shows that their video marketing is profitable and justifies the expenditure.
Key metrics to monitor
Marketers can’t indiscriminately start measuring metrics. They must know exactly what they need to measure and this will depend on the business goals. Is the marketing campaign to build brand awareness? Is the goal of the campaign to generate qualified leads? The goal determines which metrics need measuring.
1. Engagement metrics
Marketers need to track video engagement and see how viewers interact with video content. View count refers to the total number of times viewers watch video content. Watch time is the total amount of time a viewer spends watching a video. Average view duration is the average length of time a viewer engages with a video. Retention rate is the percentage of the video viewers watch. A retention graph will show where viewers fall off, which indicates exactly where content needs reassessing.
Monitoring these metrics allows marketers to assess audience interest and to identify which types of video content perform best.
2. Audience demographics
Marketers not only need to know how the audience is interacting with videos but also who is watching them. Demographic insights can help them to customize video content to appeal to specific age groups, genders, etc.
3. Click-through and conversion rates
Implementing lead generation tracking allows marketers to connect video performance with business outcomes. Marketers can incorporate tracking links in calls to action to see how many viewers click a link. A high click-through rate (CTR) indicates that a video is able to inspire viewers to take a next step, whether it’s downloading a free ebook or watching another video.
Analyzing the quality of leads and adjusting targeting and content based on these metrics can lead to attracting higher quality leads and improving ROI.
4. Sales rates
Marketers need to know which videos or which platforms contribute to sales. For example, if they can trace sales back to specific videos, it gives them more understanding about how to invest resources in the future.
5. Cost per conversion (CPC)
This metric helps to determine whether a campaign is cost-effective. A high CPC could mean the campaign isn’t targeted enough.
6. Customer lifetime value (CLV)
Calculating CLV helps marketers to understand the broader impact of a video marketing strategy and how it contributes to long-term value. This metric can help with making decisions about whether to invest in similar content in the future.
How to track performance across platforms (website, social, email)
It’s important for marketers to collect data from all the platforms where they share videos. When they track views, engagement, and conversions across channels, they can identify which platforms are most effective for their video content.
Each platform has different video performance metrics and tools. For example, Facebook Insights and Instagram Analytics can help to improve the performance of videos on these platforms. Marketers should also compare performance metrics across platforms and their own sites. They can then focus their attention on the channels that offer the most engagement and highest ROI.
1. Websites
Websites may have many types of videos embedded on them today. This may include everything from video training for remote employees to tutorial videos showing customers how to use products. It is impossible to keep track of video performance and audience interaction with videos without the use of analytics tools. Various analytics tools, such as Google Analytics and marketing automation platforms, like HubSpot, allow marketers to track video metrics on websites.
Using a video hosting platform to host videos and then embedding them on a website offers many advantages. One of these is having a centralized platform on which to store, manage, edit, and distribute videos. The added benefit of a centralized video hosting platform like Cincopa is its in-depth analytics that go beyond what free video hosting platforms offer. It also integrates with marketing automation platforms.
2. Social media platforms
Tracking interactions on social media platforms can offer feedback on how an audience responds to video content. Likes are signals of viewer appreciation and comments show more direct engagement. High video share rates on social media indicate that a video resonates with the audience.
Analyzing these social interactions can give an idea of how well video content is connecting with the audience. Videos that do well on a platform like Facebook may not do well on LinkedIn. Those that perform well on YouTube may perform poorly on Instagram.
3. Email platforms
Email marketing still provides one of the best ways to form meaningful connections with prospective customers. Using a video hosting platform that integrates with an EMS makes email marketing efficient and also offers the use of in-depth analytics to monitor engagement.
Tools for video ROI tracking and reporting
Advanced analytics tools
These tools help marketers to gain deeper insights into video marketing performance. They offer in-depth data analysis that allows for more informed decision-making.
The Cincopa platform has advanced video analytics that can help marketers to understand viewer behavior, identify trends, and monitor metrics. Its video heatmaps give a visual breakdown of viewer behavior, highlighting where viewers are most engaged and when they tend to lose interest. Integration with marketing platforms allows marketers to streamline their workflows.
Dashboards with graphs help marketers to quantify and optimize video performance. These visual representations make complex data easier for all stakeholders to understand.
A/B testing tools
A/B testing provides a way to understand what formats, video thumbnails, email subject lines, and other factors generate more engagement. Trying out these different elements can help them to refine their approach.
Lead capture forms
Integrating lead capture forms within videos helps to convert viewers. Tools such as marketing automation platforms can help with gathering and managing leads. This makes it easier to assess their quality.
Google Analytics
Tools like Google Analytics can help marketers to track sales resulting directly from video content. Implementing tracking links can help with tracing purchases back to specific videos.
Feedback loops
Qualitative feedback provides insights that numbers alone do not provide. Marketers need to collect feedback from viewers through various means such as comments, surveys, or polls. They can use this information to identify areas for improvement and make content adjustments to better meet audience needs.
On the Cincopa platform, there are many interactive elements marketers can use, such as surveys, quizzes, and calls to action. They can also use video messaging to communicate with viewers and get feedback.
Using insights to refine future campaigns
For marketers to improve future campaigns, they need to learn from the past. By analyzing campaign outcomes in a systematic way, they can see what works and what doesn’t work. They risk repeating mistakes and missing opportunities without this crucial step.
- If certain audience segments perform better than others, marketers can focus on these groups in future campaigns.
- Insights into which messages resonate most with viewers can help with creating content in the future. For example, if live streaming gets the most interaction from an audience, they can plan to do more of it in the future.
- Understanding which channels offer the best ROI helps with future budget allocation.
- Learning from past mistakes gives marketers the confidence to experiment with innovative ideas and approaches.
Conclusion: Video is measurable – and powerful
Marketers have to understand their audience, optimize their strategies, and deliver meaningful results. To do so, they need to use both quantitative metrics and qualitative insights. This enables them to make video content that truly resonates with viewers and has a positive influence on ROI. The Cincopa platform, with its advanced video analytics, offers them the in-depth insights they need. They can go to the home page and sign up for a free trial. This allows them to experiment with all the different ways to track the ROI of their video marketing efforts.
