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How to measure the ROI for your explainer video

January 1, 2018
Telling a brand story that relates
December 21, 2017
 

Fortunately, online video offers a very measurable way of determining your return on investment. Many hosting platforms such as Wistia, Youtube, and Vimeo offer comprehensive analytics which will tell you the number of clicks, the video watching time, etc. on your asset.

If your marketing goal does not end by simply creating awareness of your products and services, but wants a solid ROI indication, it is possible to track events further down your marketing funnel:

When placing your video on your own website

Track the visitor time duration before and after your implementing your video. Your visitors spending more time on your website is a strong indication for success. You can attach a dollar figure by the number of leads you’re getting out. Remember to keep your KPI simple to not get lost in the numbers.

For External Hosting Platforms: YouTube and Vimeo

When linking your visitors these platforms to whatever next step you want them to go, you can make use of a trackable link. Easy solutions is a URL shortener like bit.ly.

Metrics depend on your business goal

Of course, using the right metric depends heavily on the goal that you pursue. Videos is a great tool to not only to boost revenue, but also to create loyalty, brand awareness, improve customer service with how-to videos and much more. Here is a list of KPIs that fit each goal:

Goal Customer Experience Revenue Growth Education
Objective Creating Loyalty Customer Service Lead Generation Brand Awareness Brand Sentiment
KPI · Return Visitor Rate

· Email Subscription Rate

· Amount of Issues · Revenue · Views

· Shares

· Likes

To Recap:

Measure the number of leads before and after having placed a video and attach an average dollar value. Be aware of the goal that you want to achieve. If you want to educate your audience and nurture your expert status, it is advisable to use metrics such as shares and likes.

 

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