Video marketing ROI process:
In business, we all invest money in resources and expect a return on our investment, whether that be a member of staff, IT or marketing and sales. So how do we know which of our investments are the most effective?
Whatever your investment is, it is important to have plan with clear success criteria, identified. Execute the plan, measure results and analyse the data. If something hasn’t works don’t just stop doing it, understand why!
Below is the process for video marketing.
Recent figures show that using video in your marketing mix can deliver the best return on investment on
your marketing spend.
Here are a couple of case studies, from Cadbury’s Digital Training Academy and AO.com from a Smart Insights interview:
A case in point is Cadbury’s ‘Chocolate Charmer’ video campaign, for its Dairy Milk chocolate bar brand. Cadbury’s ran a cross-media advertising campaign on mainstream television and online video. Spending only 7% of the budget online, it generated 20% of sales. £2 was generated in sales for every £1 spent, and the ROI on YouTube Promoted Videos was even better – that generated £3 per £1 spent.
Without a physical shop for customers to visit and try its products, Appliance Online’s approach was to use video to convert potential customers into actual customers. Ao.com found that adding video reviews to product pages had a dramatic effect on sales: if a customer watched a video they were 120.5% more likely to buy, spent 157.2% longer on the site, and spend 9.1% more per order
Although these case studies demonstrate how online video marketing has aided results for big brands, it is just as successfully for SME’s and B2B business. It does, however, need to be planned, executed and measured properly.
For more information on how to get video marketing right, you can download our ebook or call the office to speak to Julie.