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How to measure the ROI of video marketing?

Written by Mara Bandakji    •     Edited by Ridam Gulati     •     Published November 16, 2020     •     3 minute read
Are you scratching your head because you don't know which metrics to track when measuring the ROI of video marketing? We've broken it down into four key metrics to look for in this article.

We’ve established that video marketing adds value to your business. If you are not convinced, check out our other blog: Should you use videos or text to advertise your product? and five Reasons why home brands should invest in video product reviews.

Being able to track your ROI (return on investment) is important to determine how well your video marketing strategy has worked and how you can improve for your next one. Creating content that consumers will engage in will help a company collect data about their target audience to ensure that the content they publish is successful. Marketing professionals said video marketing received the best ROI (Worldstream, 2021). This is due to the fact that audiences consume video over text, a video is more likely to be shared over social media, and it is more effective in building brand awareness.

Even before customers buy a product in store, more than 65% of them will conduct preliminary research online (RetailDive, 2017). Businesses that can offer their customers this information will ultimately be the winner. In terms of generating revenue, 80% of video marketers say video has directly helped them increase sales (Wyzowl, 2021). Here are four ways marketers can measure the ROI of video marketing: video view count, total watch time, engagement rate, and CTA click rate.
Video view count Knowing how many people your video is reaching is important. This is an important number if your video marketing goal is to generate awareness. You need to ensure your video is being viewed in front and getting attention from a targeted audience that you would like to retarget afterwards. If you are working with an influencer, you can get the number of total impressions and reach from their account data.
Total watch timeDid your audience watch your entire video or did they exit off? At what point in the video did they exit off? Finding the answer to these questions can help you improve your video content, so the next one you release, your viewers will watch it all the way through. On YouTube, they have added a Chapters feature. You can break up a video into sections, each with an individual preview.  
Engagement rate Measuring engagement rate is a critical factor for video marketers. Even if your video has many views, if the video did not generate engagement, businesses need to start implementing strategies to help them improve their engagement. Engagement is feedback, it shows you how your viewers responded to your video. Without that feedback, it’s hard to pinpoint where businesses should improve and what part of the message wasn’t properly communicated. If your goal with video marketing is to generate sales, this is one of the most important metrics that you need to constantly track and improve.
CTA (Call-to-Action) click rate Your video should always have a call to action to invite viewers to your company's website to turn them into customers. This is the last step to get those conversions and make the sale. Companies should track their number of clicks, calls, sign ups and revenue that resulted from that video. This metric will measure how successful your video marketing efforts were. Sometimes you can have an awesome video, but if the CTA does not align with the video, it might not convert.

To conclude, remember, you only have three to five sections to catch a viewer's attention. Now that you've learned the benefit of video marketing and how to measure them, it's time to collect video content in your content bank! If you are interested in learning how to start collecting videos from your customers to use it in your marketing advertising, book a call with us today!

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