ACHIEVING VIDEO ROI

Posted on Friday, March 10th, 2017 by

Why oh why no video ROI?

How do we know if your agency have created you a winner if you can’t clearly understand your video ROI? You’d be surprised….or maybe you wouldn’t, but judging success post-delivery is the single most grey area for our clients. On a stakeholder level it comes down to do they like it or not, or have they got the video that they feel most fulfils their ideas, but how can you truly and meaningfully measure that against any metric?

How do you know if the purpose of making the video has been fulfilled and the audience have taken the key messages into their hearts to change their way of being and doing? And if you don’t have that information or proof points, then how can you know if you have an ROI?

What actually IS success with video content?

Success can be measured in many ways as long as you go into any production understanding exactly, and ultimately what you want to achieve. Even though we help our clients develop their briefs, we’ve not had any that list ‘satisfying the stakeholders’ as a key objective. No, the outcomes they are almost always looking for is to encourage a change in the audience. So it’s always interesting to note that most clients don’t see the value of having an audience member as an influencer in the early development or final decision making process – funny that! 

If you research and listen to the audience then you will see the true impact of what you need to achieve, and subsequently what you have created. With this information you can asses how to move forward, how to continue to engage and how to make changes next time to improve.

What video IS vrs what it DOES

When selecting video as a tool for internal or marketing strategies, there is generally a perception of a high cost over return on value. By the nature of how it it made, this is understandable. For example it requires greater time and technologies than other communication mediums, but the fact is, the potential rewards far outweighs any other medium. This results in focusing on the cost of what we are buying rather than the impact it will have.

Too often do we, as a society, get hung up on the aesthetic rather than the real meaning – What something IS, rather than the impact it delivers. Outlook also create live events and in this arena it’s only measured by the experience; the feeling that it generates and motivation that it breeds. When working with video, as a repeatable, controllable device, clients can become too focused on the video itself rather than what it needs to represent to the end audience. There can be times when too much energy and time is invested into solving challenges that are ultimately, not relevant or even visible outside of the room of stakeholders.

If you focus on what the programme needs to achieve rather than what it IS, the process becomes simplified, and the return on your own investment, with regards to time and energy is easier to balance and personally justify.

Clicks – Give me something that goes viral!

As video is so prolific today, a perception has formed that suggests to the suggestible that it should be easy to achieve thousands of video views (or in other words, engagement) for next to no effort; that it should be a simple process to get an idea to the screen quickly and effectively. We are surrounded by self shot films going viral. Cheap, easy, or a million views -no reason why I can’t have the same success right?

The fact is, sometimes you just get lucky! If the right person shoots the right content, at the right time and it lands in front of the right person that shares it – then yes you could well have something that’ll go viral on your hands. But heck, it’s no different from people winning the Lottery….but compared to how many people are banking on winning as well, the odds are pretty stacked against you.

We’re in a digital age where an incredible amount of content is produced and delivered every day, millions of minutes of content every second hoping to ‘win’ the viewing battle – not a safe strategy to invest in!

Can I just measure my ROI on views?

Now if you want to plan for something to go viral then that’s going to take a lot of time, effort and money to get your content to a point where people will see it. A lot of planning need to be invested, but you can do amazing things if you can plan ahead. Sometime a better strategy is to be reactive when content (yours or someone elses) does go viral. But is the amount of views really a meaningful measurement or simply an example of being in the right time at right time right place. It’s simply a tactical way to get your message in front of as many people as possible. Focus on what happens after your video has been seen.

The real measurement of an online video is seeing more traffic to your website, an uplift in orders and sales, improved and ongoing loyalty with your brand and repeat purchases.,  

The proof is in the pudding

Content is key, agreed, but in the grand scheme of things, it’s only a single cog in the machine – albeit a very major one! No content, be it print or video, is going to be seen if you don’t take it to where people will see it. Yes, putting it on your website is a great shop window, but you need to tell people where your shop is so they can go see it! The final film can tick all the boxes for the brief, but the proof of a well delivered campaign, or use of the video, is only relevant once it’s gone live and had the opportunity to have your audience react to it. The return on all your hard work comes at this point, not at the point that you sign off the film and its the results that need to be brought into context with the cost of the production to achieve your goal.

Value beyond the price tag

So start to think beyond delivering a video as a tick box exercise, but see it as part of a more holistic approach to generating change in your target audience – they are the real judges of your work and how well your agency have guided you through the process. They will be the measure of success and the motivation to keep engaging with them. Time to increase the actual value of your video beyond the price tag and into the results.

Outlook research, design and deliver the very best video content for measured social campaigns and internal comms. Get in touch to see how you can get started. 

It’s not just recognising the measure of success that stops businesses taking their first step in video marketing. See our other blogs – COST VS VALUE – BUYING VIDEO FOR THE UNINITIATED and TAKING YOUR FIRST STEPS IN COMISSIONING VIDEO