Monday, 12 October 2015

Why just making videos isn’t enough

We know that video is by far and away the most effective digital medium for sales and marketing. But just making videos isn’t enough. You have to work to ensure the right people are watching your videos; preferably the right video at the right time to positively influence their buying decisions.

The very best way to make this happen is to have a cohesive video strategy that continuously builds on the impact videos can make. But what does this mean in practice? Well, you’d be forgiven for thinking it simply means adding your video to a YouTube channel and vaguely hoping that some of the right people might find it. After all, that’s what the majority of businesses do. Oh – and possibly adding to a page that’s well-hidden on your website.

The truth is that unless the right people are watching the videos you produce, there is little point in producing them at all. When a video on your YouTube channel shows just 12 views, you just aren’t trying hard enough. Being a Fortune 500 player won’t necessarily protect you from this ‘tumbleweed’ phenomenon either.

Quantity counts

Interestingly, one of the patterns that quickly emerges on YouTube is a correlation between numbers of videos posted and average views per video. Bizarrely, in the face of reasoned logic, the more videos you post the higher the average views on each and every video. So the top quartile of YouTube marketers have an average of 181 videos whilst the bottom had just 29.* So you need to get busy producing more video content where even bite-size content works. That means adopting a strategy that moves away from single, one-off linear videos, towards activity that generates multiple clips that can be used separately or blended together into longer form variants. 

You can’t afford to be anti-social

Audiences are 10 times more likely to engage, embed, share, and comment on video content than blogs or other related social posts. So you need to let them know it’s out there and that’s not a one-person task. Social marketing is a job for the whole team so you need to galvanise the troops to post, share and distribute as widely as possible. If you use an enterprise video platform (like vCreate) you can also track which posts got what results and work on constantly improving the hits.

See video as part of the journey – not all of it

Video is a great tool to really help market and sell products and services. But a single video can rarely cover the entire sales journey. Just like real-life selling, video can have impact at every stage of the buying cycle. It’s a great medium to put forward the door-opening elevator pitch, but it can also help further into the buying journey too. A classic example would be in software sales where a benefit-led video could start the buyer’s journey but is later enhanced with demo videos or customer testimonials. Videos rarely work in isolation so you need to really consider where they sit and what they need to achieve at every stage.  
 *Content Marketing Institute 2014

Friday, 2 October 2015

Measuring ROI for video

I love using video because it’s so much easier to measure ROI than for just about any other medium.

Given that you understand the basics of how to measure ROI per-se, why is video easier to measure than text for example?  Well, seeing as I asked the question I’ll attempt to pen a cohesive answer.

At its simplest, when you send a text based email or drive people to a text based site you have little idea of what has been read; only that the text was accessed. But in-video analytics allow much more insight. How much of the video did they watch before they stopped? How many times did they watch the video? Did they watch any parts of the video more than once? All questions easily answered with some level of certainty whereas with text based communication you really have no idea what was read at all.

But of course that’s all simple stuff compared to the detailed ROI analysis you can achieve if you plug your video tool into your CRM. That’s where things start to really shape up. You can start to measure specific video views influencing won deals for example. You can fast track to any prospects  who have viewed your video in full at least once and give them a call. You could try the same trick with those who haven’t and gauge the difference in sales impact. You could call off reports monthly to tally increased sales success with increased video views. Or see how your video is impacting new business or affecting uplift with existing clients. Or which Accounts people shared which videos and measure their sales success. Or measuring video consumption against deal size. And so on. There are a zillion ways to measure video impact.

For training you can get the same depth of ROI analysis by plugging detailed video viewing data into your Learning Management System to see how video viewing is impacting successful learning outcomes. Or you can measure the effectiveness of delivering training in new ways using video (record once – get watched a thousand times) as opposed to traditional class-room based ‘lectures’.

Or you can track the video your CEO sent out to all-staff to see who watched it in full and (perhaps more importantly) who didn’t  - and follow up to ensure important messaging wasn’t missed. You can’t do that with a text based email because there’s no way of knowing.

Once you have all this data you can quickly assess genuine ROI – the money spent producing and serving your video to get results versus alternative spending to get the same results. I’m prepared to bet my bottom dollar that in most cases your video will have paid for itself time and time again. Which begs the question – why aren’t we all using video more often? We’ll get there.