Measuring the ROI of video

Measuring the ROI of video

As business owners, we want to know the ROI of everything

I am asked these 3 questions almost daily:

Is DIY video okay?

What’s the best place to put my video?

How do I know if my video is working?

These three questions can be drilled down into the core question of “What is the ROI (return on investment) of video?”. The answers to those questions will have a direct effect on your business and can be a insightful measure of the performance of your website, your social media and your video.

Your ROI can be measured by the amount of effort, planning and choices you put into any initiative. Knowing what kind of video you want to create is only part of the equation; where you share, who your ideal clients are, and where they hang out is important too.

In May of 2015, I launched the ChicFlicks Daily Video Challenge. Participants were given topics every day and, using a smartphone, webcam or tablet, were tasked with shooting video around that topic. One of those participants, Dina Stoddard from Klutch Photography, not only stepped up to the plate, but she continued to create video – and added it to her website and Facebook business page – after the challenge was over. Here is what she had to say about how video has impacted her business.

“I thought I would share this. These are my website stats from my slide show/video clips from the last week or so. Check out the spikes in viewing from VIDEO!!! BTW, mobile usage took 76% of the viewing. So make sure it’s mobile friendly people!!” 

 

For this business owner, the ROI for video was increased traffic to her site –  an important goal for a photographer looking to attract new clients.

The quick and dirty answers to those questions

Is DIY video okay? Yes, in certain circumstances. If your audience is in the same mindset, then DIY is perfectly acceptable. If you need to share something urgent as it is happening, then DIY is the practical choice. If you are selling a high-end product or service, you might was to consider hiring professionals.

What’s the best place to put my video? Everywhere your existing and potential clients hang out. Your video should be on your website, but also on your social media channels. Your site analytics will tell you where your clients are watching.

How do I know if my video is working? If you have a call to action, then you can gauge if your video is directing people to the right place. On Youtube, Facebook and your website, you have access to data that can show you who is watching, for how long and what happens after the video is done.

Before you venture into video, you need to be clear on what you hope to achieve. Do you want to drive more traffic to your website? Do you want people to see who you are and what you do? Do you want to educate people and establish yourself as an expert in your field?

If you need help getting started with a plan, contact Digital Shoebox and book a free consultation. We’ll get you moving in the right direction and help you maximize the ROI of your video.

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