As an ex-market researcher I’m very excited that finally, we can measure the success of a video online. The more number of subscribers also tell the people how popular you videos are on YouTube. If you have not plenty of subscribers, don’t fret, buy YouTube likes.
The beauty with online videos is that there is now a tone of ways to measure whether it has met your objectives. Here is the range of ways you can measure the return on investment of your marketing video:
Content & Context
- How long are people watching it for (are most viewers passing the half way mark?)
- How are the results compared to previous videos? Can you work out why there is an improvement or a decline?
- What social channels are sharing the most?
- What types of comments is it generating?
- How many people are sharing/forwarding the video?
- Are people signing up to be a member, newsletter subscriber or joining social media channels?
- Have the keywords in the video improved SEO?
- How many purchases/enquiries have occurred (pre v. post)?
- Has it decreased questions to the sales team?
- Has there been an increase in direct traffic to your website?
- Has it increased the number of inbound links?
- Has it increased the number of potential employees wanting to work with you?
- Has it increased search brand awareness?
And while I find it kind of exciting that there are now so many wonderful ways to measure whether a marketing video has actually made a difference to our client, there’s now an even bigger problem than no measurement tools being available.
That is because there are so many measurements; it’s easy to think they are all important or to focus on metrics that really have very little influence on improving your business.
Vanity metrics might make you feel good when they’re rising, but they flunk the “So what?” test. Before rushing to your CEO that you have over a million Facebook fans, hold yourself back and ask “So what?” How many of them contacted your company for new information or purchased your product?
Remember that content helps achieve business objectives, not content objectives. Its boils down to what actions your market took, rather than how much content you’re producing.
The most important metrics are your “core metrics”. Essentially, these are the most valuable metrics that measure the success of your core business.
- Relevant revenue – is it working towards increasing sales in the area it is promoting.
- Sales volume – is it increasing the number of units sold or active subscriptions? It needs to provide proof that enough people want to buy what you’re selling.
- Customer retention – is it increasing the amount of new customers? Make sure it is not hiding large old customer losses.
- Relevant growth – can you find a traceable pattern that shows the actions of your existing customers creates new customers? That’s what Ries calls an “engine of growth.” When your online actions create a self-sustaining business model that continues to pull in new customers.
These metrics are valuable because they measure success at your core business.
So the next time somebody asks to look at the success of your company video, make sure you give them numbers that pass the “so what?” test.