The key factor in marketing, as in most business activities, comes down to return on investment. If you can maintain a positive ROI over the long term your business will continue to grow. Of the many approaches to marketing available today, video is one of the most effective.
In fact, it’s claimed by 51 percent of marketers that video has the best ROI in their marketing campaigns. Here is an explanation why, and how it can work for you.
Table of Contents
Visual/audio stimuli are fundamental triggers of the human brain. You pay attention to faces out of a social instinct because you find meaning in facial expressions. Your mind tends to focus on voices and take emotional cues even when there’s background noise or we can’t understand the language. Humans empathize with emotion, good or bad. Videos that provide emotional content are powerful tools. For example, consider the inspiring video by Dallin A. Larsen that immediately engages visitors. It highlights his success in a very attractive and attention-grabbing way.
Monitor Attention Span:
Use a video marketing platform to track user engagement with each of your videos. Tracking the attention span of viewers will give you a good idea of what videos are performing better, and even where they went wrong. For instance, you might have put out two new videos last month and now want to check user data. Video A keeps 65 percent of visitors right until the end. Video B, however, loses 70 percent of viewers within five minutes. This is a pretty clear indication that your audience much prefers Video A. It’s time to revisit Video B and see what in those five minutes is turning away viewers. The data won’t always show such a notable difference, but in general, a good video should keep 60 percent of viewers fixated until it ends. Anything much below that needs work. If the attention span is higher, you’ve done everything right.
Compare Views To Leads:
You can also draw a comparison between views and leads to get an idea of how successful your videos are at generating leads, which is the whole purpose of marketing. Lead scoring has a direct relationship to your ROI and provides a more accurate picture of how much value you’re actually getting. Adapting your videos for higher lead scores will help you to continue increasing the value they bring. You could be overlooking precious data, however, by which metrics you choose to follow. People may watch the full video and still make the decision to follow through based on other content like text or images. Suppose that two users visit your site and download your e-book. The first scans a few pages but never watches a video, while the second watches several videos before downloading, the second should get a higher lead score for consuming more content.
Track Customer Engagement:
Visitor engagement with video is something you should include in your customer relationship data. With right marketing tools, you can save each visitor’s video choices to your CRM database so that you can run reports at a glance to see which videos, statistically, people are watching. You can also determine which ones are converting prospects into customers and gauge conversion success rates. It’s a good idea to understand where the threshold between prospect and buyer exists based on video consumption. When a prospect reaches this threshold, you could give them that little extra push be emailing a friendly reminder or providing incentives such as a coupon or free shipping.
As you experiment and make adjustments, you’ll be able to provide content that your audience enjoys. One great video can improve your ROI for months or years to come.