Creating Positive ROI With Videos
Using videos to market and sell is all the rage. The world’s online consumers demand high-quality visual presentation of entertainment and information alike.
But video can be pricey. Although it is becoming cheaper!!! Or worse, pricey and with low returns. Not a combination that makes a sound business decision in anyone’s ledger.
How then, is a common sense person to decide when to use video? How much to spend? Or decide whether a video project was worth it in retrospect?
Let’s take a few moments and analyze the various components that go into promotional videos and how to slant those components so that your ROI is at its greatest.
How Many People Watch Videos?
Some of the current video statistics are staggering:
- You Tube reports over 1 billion unique visitors each month who watch over 6 billion hours of video.
- You Tube also reports 100 hours of video being uploaded each minute.
- Nielsen reports that You Tube reaches more adults worldwide than cable television.
From informative videos on everything from making sugar-free chocolate mousse to doomsday prepping to screaming goats (admit it, you’ve watched them…), non-professional videos are available on nearly any topic imaginable. And in the professional realm, the full gamut from instructional videos to clickable full-length video ads, to – most recently – auto-play mega-store ads saturate the airwaves (kudos to Macy’s for pioneering that last one!).
In-hand technology has brought video to all corners of the globe. Every moment that moves, interests or horrifies humanity can be captured with a simple phone. And high-quality video can be produced with the average multi-use digital camera.
Nothing Like a Little Peer Pressure…
Clearly video is a great medium for reaching a hungry public! No pressure of course, it’s just that everyone else is doing it.
Let’s look at how to make the most of video for your business ROI.
Start with an analysis of your products – do you sell widget-type products or service-based products? What in your line-up lends itself the best to being marketed by video?
Note: Stay away from seasonal promotions or one-time offers unless your budget is in a very happy place. Making a video can be expensive, so when you make one, make sure it’s one that you can use for quite a while.
Use your brand heavily in any video you produce.
Note: People who have never heard of your company will be watching your video. You need to have a recognizable brand or logo plastered all over it to create continuity and awareness that you are bigger than just this one product.
A video is a great selling tool, but a professional video may not be necessary. (Example: The Woolie Company has a number of videos out that promote their products by showing them in action. The videos are informative and thorough without being overdone or high-budget.)
Note: If your product line allows, you could plan a whole series of promotional videos, work them up with your own staff and film them yourself using a few pieces of basic equipment. At times, credibility can take you just as far as glamour.
Make sure to track your results so you know what income you can credit to your videos.
Note: Embedding your videos with clickable links, and unique landing pages allows you to track your video results with precision.
Video is a huge medium. Analyze its use to you carefully and plan out a trackable video campaign that won’t break the bank. Once you see the results from one video, you will have a much better idea what types of video you need and whether their ROI is something you want to invest in and bank on.