Would Video Marketing Increase My Business’s ROI?
In today's world of rapid content, we focus on getting your message across to your target audience clearly, creatively and cost-effectively. The videos we create at Prolifik are designed to amplify your brand and message through distribution across multiple media.
Video is a method of capturing your audience and compelling them visually and emotionally. It is without a doubt the most engaging form of content. Nine times out of ten, a consumer would rather watch a video than read an article.
It is no secret that videos garner the highest level of engagement of all media types. According to HubSpot, 54% of people want to see more video content from marketers, and 85% of businesses are already including video in their marketing strategy -- you don’t want to fall behind here!
Now that we know video is the best way to get your message out, how do you know if you can justify the time and cost needed to consistently implement video into your content marketing strategy?
This is why it is important to know how to calculate your videos’ ROI.
The best way to accomplish this is to attach a link with a specific call to action for each video to track KPI’s like views, impressions, link clicks, engagements, etc. Using this method, you can actually calculate how many views on average your videos need before they become profitable. Of course there are also unquantified KPI’s to consider, such as increase in brand awareness and building brand favorability. These factors are only really possible to track using surveys and questionnaires, which can also give you information on the effectiveness of your video marketing efforts.
ROI is going to vary depending on the type of video (interview, testimonial, how-to, explanation) and your industry, but the majority of the time, video proves to be the most effective way to reach your audience and keep them engaged -- getting you the most bang for your buck.