Video Marketing and ROI
Calculating ROI Is Tricky
I think we all know that video marketing can be effective. And most of us probably believe that video marketing can be even more effective than more traditional marketing methods. However, because the true value of a video or video campaign can’t be judged by simply counting clicks, etc., it can be very difficult to show a true return on investment when using video marketing. Therefore, many organizations find it hard to justify putting any significant budget towards those types of efforts.
To truly gauge the ROI of a video campaign, you need to first define your goals of the campaign, and then dive into deep pool of analytics to begin judging what success your having. You’ll be studying things like search rankings, views, play rate, watch time. Not to mention how this all affects your social media engagement measure in terms of subscribers, feedback, social shares, backlinks, etc. If this all seems a little daunting, it’s because it is.
However, as we keep reviewing marketing trends, and identifying which campaigns are successful and which are not. One thing is clear: video marketing is a powerful strategy to promote, brand, and grow your business (Source: Forbes).
So, because calculating a direct ROI can be difficult, let’s review a few key statistics generated by organizations much larger than ours to help define just how important video marketing can be.
The segment is growing...
By 2020, online videos will make up more than 80% of all consumer internet traffic. (Source: Cisco)
In the past 30 days, more online video content has been uploaded to the web than the past 30 years of TV content. (Source: Blue Corona)
- YouTube reports mobile video consumption rises 100% every year (Source: Hubspot)
And it's already huge...
Facebook generates 8 billion video views on an average day. (Source: Social Media Today)
55% of people watch videos online every day (Source: Digital Information World)
- 90% of users say that product videos are helpful in the decision process. (Source: Hubspot)
And it’s more effective...
Including a video on a landing page can increase conversion rates by 80%. (Source: Unbounce)
After watching a video, 64% of users are more likely to buy a product online. (Source: Hubspot)
- Video in an email leads to 200-300% increase in click-through rates. (Source: Hubspot)
If the numbers are to be believed, no business should be missing an opportunity to include video in their marketing efforts. But, as with any efforts like this, it can also make sense to work with a professional who can help you set reasonable goals and interpret the data in such a way as to feel confident about your ROI.