Video marketing is one of the most viable ways of attracting customers – especially in this day and age of short attention spans. Visual communication is the best way to engage with any target audience, which won’t change anytime soon. But while plenty of Austin production companies are making excellent video content for their clients, the question is – does your particular video strategy work in practice?
Remember, video marketing takes a lot of time and effort. And you want to be sure that these resources aren’t going to waste as your marketing journey moves along. Luckily, the effectiveness of your video marketing strategy is actually quite easy to quantify. And we’ll give you an in-depth look at the metrics that do so.
Video Strategy Awareness
People interact with video content on the Internet more than with any other type of media – which is why video is a great medium for growing brand awareness among members of your target audience.
As a company that wants to increase its visibility, you need video content that successfully markets your products, business name, and services to people. And not just any people – you want to get your video content in front of individuals who are most likely to convert to paying customers.
So, how can you track whether your social media content or other videos are raising enough awareness? Here are some of the key metrics to follow in this context:
- Mentions;
- Engagement – in the form of shares, comments, and likes;
- Impressions;
- Reach;
- Click-through rates.
Most of these metrics relate to social media – though almost all of them apply to your company’s website as well. And by tracking all of them, you can gain a better understanding of how your overall brand awareness shifts over time. This also allows you to make timely changes to your video strategy if need be.
Video Consideration
Some of the more marketing-savvy among you may have noticed that we’ve separated these metrics according to the different stages in the classic customer journey – the first is awareness, and the second is consideration.
We’ve done this because video is, at the end of the day, a piece of marketing content – especially in a commercial context. And that means it’s tracked like any other piece of content, at least from a marketing strategy perspective.
So, let’s move onto the consideration stage – in which your potential customers decide whether they want to interact with your brand; usually by buying something.
Educational videos are the most important type of visual content in this stage – through educational videos, you can answer your customers’ most frequent questions and establish your company (or yourself) as a figure of authority regarding your particular niche.
Sure, the folks who are thinking of buying from you probably know a bit about your products, your brand, and your competitors already. But that’s precisely why you should use a specific type of video at this stage to show them that your company is precisely the one best-equipped to fulfil their needs.
At this stage, we’ve also got a bunch of crucial metrics that help you see which leads are ready for the next stage in the buyer’s journey – and which are still hanging around the awareness stage or losing interest.
These metrics are:
- Enquires;
- Traffic to specific product and service pages;
- Sign-ups for lead magnets;
- Followers or subscribers on social media.
Naturally, people who have made the effort of signing up for a lead magnet (like a free e-book or a newsletter), clicked on various service pages on your website, or even filled out an enquiry form – these are your best leads, and the sign that your video marketing is paying off. Conversely, low numbers here mean something is amiss, and your content is simply not getting your point across.
Video Content and The Decision Stage
Of course, the main thing your video (and any other) content is supposed to do is to help you grow your sales. In that regard, there are only two metrics, but they’re the most important ones:
- Conversion rates
- Sales
Now, you may be thinking – aren’t conversion rates and sales the same thing? Well, no; your conversion rates are how many of the people who have interacted with your video content have decided to buy something. On the other hand, sales are a more straightforward metric that just shows the number of sold units for a single product.
If you want to use these two metrics to see whether your video content is paying off, you need to connect the dots with the other metrics mentioned above. See which video content your customers have interacted with before making a sale – or, conversely, which video content ultimately led them to abandon their cart or leave the website.
This will tell you which videos need to be tweaked, which need to be shown to more people through targeted ads – and which should be removed altogether.