As the world moves towards video marketing for product advertisement, companies have begun investing tons of money in producing video ads for their brands. But, how successful are these video campaigns? Can you track its growth? Are you getting a good return on investment? How do you measure your success? If these are the questions plaguing your mind, then you have come to the right place. The success of your campaign is determined by your ROI. So in this article, we will discuss the different metrics to measure your video ROI and help you understand your video content better to create a successful marketing campaign.
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The qualitative and quantitative metrics to measure ROI
For a successful marketing strategy, you need to be attentive to your ROI to determine how the video campaign adds value to your business. But measuring ROI is not as simple as noting down the view count and the subscribers. There are qualitative and quantitative metrics that need to be analysed before determining the ROI. Analysing the metrics will give a more holistic view of your video campaign’s performance.
Now what are these metrics we keep mentioning? Let’s dive right in.
Quantitative video ROI metrics
Quantitative ROI metric involves numerical data related to the video. Here are some of the quantitative metrics you need to keep an eye on.
- Impressions, play rate, engagement – These video analytics will help you understand how your video content is performing and make informed decisions based on it. For example, if your post impressions are low, you can boost it on your social media pages to gain reach. If the play rate is less, then you can alter thumbnails to make the post more interesting to click on. So, continually monitor these metrics to understand your content better. An animated explainer video company in Bangalore creates extremely attractive videos that are sure to increase your video engagement and play rate.
- Leads generated – If your video campaign is designed to generate leads, then calculate the expected revenue that your leads will bring. Knowing this can be crucial for your business. Besides, you can also use this data to back up your future investments in an animated explainer video company in Delhi NCR.
- CTA clicks – Call-To-Action clicks or conversions are another way to analyse ROI of your video. You can add clickable links so your viewers can take the action easily. To track the number of clicks, use tools like Google Analytics UTM code or Bitly short URL. Once you identify the people who are engaging more with your video, you can tailor the content to appeal to them more.
- Time and money saved – If your video saves your time and money in explaining product demos, support issues or onboarding process, then you know the ROI of your video has already increased. This is not only useful for your business, but it also values your customers’ time. Animated explainer videos are great at explaining complex product demonstrations in a simple and captivating way. So hire an animated explainer video company in Chennai to save your time from giving product demos over and over again.
Qualitative video ROI metrics
Aside from empirical data that proves the efficiency of your video campaign, there are other factors that contribute towards your long-term video ROI.
- Brand sentiment – This factor showcases your brand’s impact on the people. It portrays what your audience thinks and feels about your brand. It is not something you can easily track through tools, but you can monitor it through your video comments to determine what people are thinking about your product. Besides this, you can also produce unique videos that represent your company to widen the brand sentiment. You can use specific styles of animated videos to get people hooked on your content. Many Indian animation studios create unique and captivating animated videos that will enhance your brand value.
- Product awareness & education – This factor is used to determine how much your audience actually understands your products. It can be abstractly calculated using support queries per new customer, ratings like Net Promoter Score, or even new customers gained through word-of-mouth. The key to increase your product awareness depends on how well your video educates the audience on its functionality and benefits. And explainer videos are a great medium for this. So hire any Indian animation company to get creative explainer videos for your product..
- Brand affinity & trust – While product education is extremely useful, it is also important to build a relationship with your customers. To do this, you can use live action videos and client testimonials. This builds trust and strengthens your relationship with the customers. An animated explainer video company in Pune offers services like live action video shoot that you can avail for your brand.
Now that you’ve understood all about measuring your video ROI using the qualitative and quantitative metrics, you can use them to boost your video’s performance. By constantly monitoring your ROI metrics, you can understand your content better and with time, you’ll be able to determine the kind of videos that work best for your brand. By hiring an animated explainer video company in India, you can produce videos that are highly engaging and informative. So what are you waiting for? Create your successful video marketing campaign now!