There has been a significant increase in video consumption over the past few years, especially since Covid-19 forced many of us to stay behind our screens in order to stay safe, which resulted in many businesses leaping on the video marketing trend. The ROI (return on investment) for many B2B businesses for video creation hasn’t been as high as they had expected.
Why is that?
Video marketing has an incredibly high earning potential, but you might not be able to justify or understand if the investment is worth it if you don’t know how to analyze the metrics. This blog will review 5 ways to measure ROI from video marketing to help you increase your profits.
1. SERP Ranking (Search Engine Results Page) Measuring how well your video content ranks is a simple way to quickly understand how well it is performing and should be a top priority. You want to ensure your video isn’t just being viewed by many people but by the right people. Monitoring how well your video ranks by key search terms will allow you an insight if your target audience is viewing your video. You can analyze your SERP to get a quick look at how your video ranks on Google, Bing, and Yahoo and to further enhance your digital marketing strategy. To submit your query, go to the Google Search Console and click the ‘Search Results’ tab under ‘Performance.’ Then, click on
‘Queries.’ If that seems too complicated, you can always use a SERP tracker that will do it for you!
You can increase your SERP ranking by optimizing your videos according to your SEO strategy and including metadata and tags. (Yes, SEO works on videos as well!)
2. View Count Since this is arguably the easiest metric to measure, many marketers can be blind-sided by a high view count. Having a high view count doesn’t mean that people are watching your videos until the end or following through with your CTA. While you should pay attention to the view count to understand your video’s overall popularity, this must be followed up with other measuring tools to truly understand the ROI of your video content. Remember that in every platform you choose to share your video, there are different ways to track your view count. For example, the view count for social media channels like Instagram or Tiktok is displayed underneath each video. However, if you wanted to check the view count of a video embedded within an email, you would have to use the analytics from your email marketing tool or the platform where the video is hosted.
3. Engagement rate This is the next step after calculating your view count because it measures how viewers interacted with your video. Google rates based on the number of likes, shares, and comments on your posts, so pay attention to those numbers! Keep in mind that a high engagement rate can directly correlate to a high video marketing ROI. This is an essential tool you should keep in your toolbox as it can help you determine your brand loyalty and how effective your video marketing campaign is. How do you check your engagement rate? It’s pretty simple! Divide the total number of engagements your video has by the impressions. Let’s say your video ad gets 500 engagements and 2500 impressions. Your engagement rate is 20%. How do you calculate the number of engagements? Count the total views, reactions, shares, and link clicks. Let’s say your video has 3,000 views, 150 reactions, 50 shares, and 100 link clicks. Your video engagement count is 3,300.
Most social media tools calculate engagement rate for you, but it is important for you to be tracking that rate and seeing which videos perform best, finding the commonalities, and uncovering that perfect formula.
4. Click-through rate 86% of business owners said that video marketing increased website traffic, but how many of your viewers are watching until the end of your video? If they aren’t finding your content engaging enough to reach your CTA (call to action), your conversion and click-through rate will suffer the consequences.
Paying attention to the watch time and click-through rate of your video marketing campaigns will indicate the success of your video and your ROI. It’s crucial to figure out what percentage of your audience not only watches to the end of your video but follows through with your CTA. How do you figure out your click-through rate? By dividing the number of clicks your video has by the number of views. Having a low click-through rate for your video might indicate that you need to improve the content you’re posting. You can use UTMs or a lead tracking software to track specific clicks and gain a deeper understanding of which content leads to better click-through rates.
5. New leads If you want a direct understanding of your video marketing campaigns' ROI, check out your conversion rate and the influx of new leads, but make sure you are attributing the leads correctly to each campaign by using tracking links and UTMs. More than 84% of marketers said that video marketing has helped them generate leads. Still, it can be challenging to understand precisely which video brought in the new leads if you have multiple campaigns running and you aren’t using lead attribution models. To comprehensively calculate your overall ROI from your video marketing campaigns, try combining the different ways listed above. If you need help, Peech has your back!