How to Achieve ROI from Video
I suppose I should start off with an obvious disclaimer that not every video we produce, or frankly anyone else, is guaranteed to have an ROI. If that were the case, I’d be charging a lot more money for this corporate voodoo magic. That said, you simply can’t ignore that video is not just an integral part of internet usage, but according to various studies we’ve linked elsewhere on our site like this one, this other one, and that one, it’s the majority by far! The case for video marketing, especially for those who depend on their online presence, can’t be overstated. To explain how to achieve ROI from video production, read on:
We’ve literally had a few clients produce their content and simply not use it or use it to little or no avail. What happened? The best way I can figure to explain it is that videos are like a tool…just to pick one, a hammer. This tool can be used properly to accomplish its task of driving in nails, dislodging them, etc. or it can be used incorrectly, not at all, or not in the right scenario. There are also different types of hammers, like mallets, that are very similar in design but aren’t used for nails at all. Lastly, there are different qualities of hammers. Different construction materials, sizes, warranties. They all can potentially get the job done, but sometimes the added value obtained from a more expensive hammer (or video production) is worth the investment. Just like a video, one should also have a plan in place where a hammer is known ahead of time to be needed to accomplish the objective.
Done with the metaphor yet? In more practical terms, a video by itself does have viral potential, depending on the content. However, even the best produced content is effectively useless if there’s no plan on how to use it. More often than not, viral videos are engineered more so than totally spontaneous. Video should be a part of a broader investment that includes both free and paid means to broadcast it to the public. Whether you choose to do that through TV, social media ads, SEO listings, or connections with high profile people/groups, a plan should be in place prior to production. You can also use it 1-on-1, in a live presentation, or as a loop where lots of people are known to visit.
Also, your ROI can be defined by other means that a quantifiable monetary return. Raising brand awareness, shares on social media, or perhaps a shift in sales from one product or service to another. The good news is, whether you use a tool like Google Analytics, Facebook Page Manager, SEMRush, or something else, there’s lots of ways you can measure traffic to a particular broadcast medium. You can make it even easier by putting a special “video-only” offer that your customer base only discovers by watching the video to the end.
I’d take this strategy a step further by recommending that your video be one of three things: profound, emotional, or funny.
Virtually every viral video is one or a combination of those three things. While the standard template for corporate videos and commercials do serve a purpose, a successful marketer needs to think about what value a viewer gets out of watching their video, especially if they’re not familiar with the company producing it already. If it makes them laugh, they’ll want to share that joy with others. Think about some of the top advertised brands on TV. GEICO, Old Spice, Wendy’s, Progressive? They’re not advertising on how great their company is except in passing. The main takeaway from their campaigns is that the commercial makes you laugh, which then makes you remember the punchline like saving 15% or more car insurance.
If it’s emotional (good or bad), they may be similarly prompted to share the experience. You may think your product or service is inherently profound, because it’s your thing, but profundities in a crowded media market really have to be over-the-top to go viral.
Make sure you have a plan to use your video properly before making a potentially big investment into its production. Remember that content is king, and that our team is experienced in helping you craft a strategy on how to create content that works within your overall marketing plan.