Lighting Your ROI Fire With Video Marketing
When you’re on a camping trip and you want to share a good story with friends, it might be more captivating if you build a campfire and set the scene first. It’s up to you to sell the story, but if there’s no campfire at all, your audience might abandon you to warm up in the car. Online audiences have expectations about advertising campaigns too. A great video can be the best way to help your customer warm up to your product or service. Using video has become commonplace online for good reason; it’s one of the most effective ways to spark higher conversions and better audience engagement. We’ve been measuring the outcomes of video campaigns for years and the results are in – a measurable return on investment (ROI) is eminent when the story is set up and told the right way.
Why Video Works
When it’s done right, video is effective because it delights a viewer’s senses and heightens emotions. A video synthesizes art, animation, music, narration and more into one compelling presentation while also forming a connection with your viewer. Most users don’t want to open their email and read a bunch of text. However, they can’t resist clicking on a video with a magnetic character who’s beaming a story that relates to their needs. For example, People Productions helped a global SaaS company relate their key benefits to their customers by using emotional video storytelling. Our campaign helped ramp a dismal 1.5% close rate into an explosive 30% conversion rate. They simply added the video to their page and the results were impressive. Their website visitors skipped the text-heavy page and gained confidence in the product through an entertaining presentation, leaving them eager to take the next step.
Measuring Video Marketing ROI
If one of your measurements for a video campaign is higher revenue, the formula is easy… just throw gas on the fire with a great video, then stand back and start tracking the impact associated with it. Subtract your video costs and you have an easy measurement for success! Of course, measuring video ROI isn’t always this straight-forward, so building metrics and fanning flames around audience engagement can be valuable. Video campaigns can lead to actions like buying products, subscribing to a service, or elevating your customer to a new stage in the buyer’s journey. If viewers watch your video all the way to the end, chances are your video is doing something right. Your video is pulling its weight, your audience is growing, and your sales are up.
According to industry stats, marketers that use videos are getting 66% more qualified leads than those who simply use traditional techniques. And, we’ve found even better results with our own customers. In the broader sense of video, we created a webinar about new opportunities in lung cancer management for Medtronic. Immediately we witnessed 477 new registrations, but what happened next was even better. After the webinar content was presented, we were able to track 14 new sales with over $700k in potential revenues. Our customer was over the moon, the webinar created awareness, and the result was trackable sales. These are impressive stats for engaging prospective customers and increasing sales.
Videos can be highly effective for training and eLearning, too. Seeing examples of the training in video facilitates thinking and problem solving. It can help demonstrate procedures or abstract visual concepts while keeping education accessible, reducing time and minimizing training costs. The need was apparent when the Colorado Office of Early Childhood had 2,200 students self-enroll in their new online course. Over 1,600 students completed the training before it was even promoted, which is an excellent completion rate for this type of education.
At People Productions, it’s our job to ensure your campfire story is told in a clear and engaging way that can be measured with more than just chocolate s’more smeared smiles. We aren’t satisfied until your fire is blazing, the data is analyzed, and the results are in. When the story is set up and told the right way, you can expect a measurable return on investment.
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