How to Measure the Success of Your Marketing Video
Measuring marketing video success can be a challenge
Marketing videos can be great assets for driving business. Video is a huge resource for potential clients and customers to turn to when conducting before-purchase research. And marketing videos, when done correctly, is one of the best ways to market on the web. In addition to potential customers they can also help keep current customers engaged as well.
At Penrose Productions we frequently hear clients asking how to measure the success of their marketing video. Just how do you determine its success with real measurements? Or more to the point, is it working?
The importance of measurement can not be overlooked.
We strongly suggest that before creating any marketing video that you set goals against which to measure its success.
In order to do this you need to have an understanding of the metrics and measurements that you will use to track the achievement of those goals. Here are some of the more common goals for a marketing video:
- Increase brand awareness and drive engagement with potential clients
- Generate sales leads
- Drive website traffic
- Gather subscriptions to a service, mailing list, etc.
After agreeing upon your goals, and after your video is online and running, measure the performance of you marketing video by tracking the metrics. This means much more than counting views. Drill down deeper on these metrics to get your best insight on how a marketing video performs:
Click-Through Rate: How many people click from your marketing video to your website or another landing page? This is a great indicator of a well-done video when it gets your viewers to click through. Individuals that click-through are interested prospects who want to learn more about your product or service.
Shares and Likes: If Facebook, LinkedIn, and other social media platforms are part of your strategy, social shares and likes can give you great insight as to how well you are doing. This is an excellent goal to have if you are focused on building brand or product awareness.
Conversion Rate: If a company has the correct analytics installed they can track the viewer’s journey through your website and marketing video, and thus investigate where customers click after watching your video. If they click through to your ‘Contact Us’ page or visit your e-commerce store, your marketing video is doing a great job of conversion. If you notice a high bounce rate however, this could indicate that you should re-examine the content of your marketing video.
Be sure that you clearly outline your goals when creating a marketing video.
And once you do, devise accurate measurements to see how well it does. Tweak as needed.