More businesses are implementing video marketing strategies
As consumers have become comfortable with video content and found it to be a useful way to consume a lot of information rapidly online, businesses have add their own video content to the mix, putting forward campaigns as simple as a 30 second video shot with an iPhone to a full-fledged campaign professionally overseen by an advertising agency.
But with so much noise in the video content arena, getting your company’s voice heard can be a tremendous challenge, and moreover, unless you are an experienced professional, do you know if your campaign is even doing well?
Measuring the success of a video marketing campaign can be tricky, but Chris McKnight at advertising and production company, Grey TV asserts that their modern approach significantly amplifies their message in competitive environments.
7 tips to remember for your next video marketing effort
McKnight shares his expertise in his own words through the following seven tips:
How many views does the video capture from the desired audience, and how quickly do they accumulate?
The key here is to define the audience, and identify your market penetration ratio. Within the first 3 months, a penetration of 10% online, and 25% through broadcast television is considered to be a healthy start to a campaign.
A video that draws attention rapidly at the beginning and levels off after a few months is common. Look for ways to create a series of videos, or different versions of videos to continue building interest after the first 3-4 months.
How many viewers are watching all (or most) of the video?
If your video is being closed quickly, you have one of two problems:
1. The content is not relevant to your target market or
2. You’re placing the video in the wrong media outlets.
The ultimate objective, especially with digital content is to present a compelling “hook” in the first 5-10 seconds of the video that gives viewers a reason to keep watching.
By how much does the video increase conversions at key points in the sales pipeline (calls, clicks, shopping carts, checkouts, etc.)?
Most marketers think of videos as a way to generate awareness of their product or service, but increasingly videos are being used to “close business” as marketers are using video content to support consumer research online, and provide confidence to buyers. Zappos.com is a leader in this area.
Videos are increasingly becoming interactive, with click through taking place in the video, and often leading to a product content page or a shopping cart.
Can the video be cross-purposed across marketing objectives?
The most successful marketers make videos that can be “re-cut” or re-purposed from their commercial or online video format. Examples are sales conference promos, trade videos, and product demonstrations or testimonials for a product website.
Videos can also be designed with “inserts” that can be used to sell a rotation of products, especially seasonally.
Does the video continue to drive views over the long term?
Most videos have a lifespan of 3-6 months. Any video that continues to draw views beyond that timeframe should be considered successful.
Typically sensational videos attract lots of attention in a very short period of time, and then die out. More traditional content videos have a more gradual growth curve, but tend to last longer. Sensational videos tend to work better for new product launches where immediate awareness is key, and more traditional content is more conducive to long term brand building for an established product.
Does the video build (not destroy) brand equity?
Many videos and commercials use sensationalism and other eye caching techniques to create instant awareness with the goal of selling more products faster. There is a high correlation between this strategy and new products, simply because new products do not have established brand equity – they have no brand value to lose.
On the other hand, long-established brands have substantial value built up in their products, and are less likely to use “shock-and-awe” content to promote their products.
How well does the video integrate with social media, and how much is it shared?
The holy grail of video marketing is creating a “viral” video that generates millions of views. While this is possible, its better to build a comprehensive content strategy with multiple videos and a variety of content. Banking on one video to go viral is like buying a lottery ticket – you always hear about the winners but its never you.
Ensuring that your video content is sharable is key, but be sure that you maintain the final control over how and where it is shared. To do this make sure company YouTube and Facebook accounts are properly set up and settings carefully managed.
Whether you DIY or hire the professionals
Regardless of the method used for creating your video marketing campaign, take into account McKnight’s seven tips to give you a better understanding of measuring success. Having realistic expectations and being aware of how the professionals do it can give you a substantial advantage against your competitor who may be spinning their wheels.