Video ROI Series – Part 1
by Justin Difazzio
Let’s face it. The days of print media being the fastest and most effective way to reach people are over. With the advent of such Internet sites as YouTube and Vimeo, apps like Instagram and Clips, and even news sites and online how-to resources, it’s clear that promotional video is the front runner in the race to grow your client base and reach your audience.
But when it comes to measuring just how effective video can be, there doesn’t seem to be a traditional method for finding just what impact video has. Unlike subscription services or paid content, determining the return on investment (or ROI) on videos can be a little squirrelly. Research shows that tracking page views and looking into the analytics provided by sites which host your promotional video can give you a rough idea of who is seeing your video and what its impact is. It still doesn’t translate well to a dollar amount, which we both know is the most concrete statistic in today’s world. Although, as this blog series will attest, that may not be the most important impact a video can have.
Videos can change the way a consumer perceives your company. They can be a way of introducing yourself, your product, and your service. A video is often the first thing someone looks at when they land on your organization’s website. Consider it your virtual handshake. You don’t want a cold, limp handshake to be the impression you make. Video can set the tone for your company and leave a potential client with the feeling that you are competent, creative, knowledgeable, and fun. Even a good handshake can’t do that!
In addition to making a good first impression, a professionally produced video can drive an increase in sales.Studies on the impact of promotional video have shown that in some cases an organization that adds a video to its landing page has increased leads gained by up to 80% over a landing page with no video. These results may not be typical, but they certainly illustrate the impact video can have. Additionally, consumer surveys tell us that video is preferred 4-to-1 over text, especially with younger crowds who have yet to form an opinion or perhaps aren’t stuck in routine spending habits based on past decisions. Instead of losing that lead, you could reach them with your message, influence them to give you a try, and make a lifelong supporter in the process.
Whichever way you cut the film, the tape still shows that strategic use of video to reach and expand your audience is a smart choice. In the next entry in this series, we’ll explore the way narrowly defining the purpose and focus of your video can impact your return on investment. And if you’re curious about just what OC Creative has been doing to drive sales for our clients, click over to the “Work” tab at the top of the page and see for yourself!