Goal setting is an important step in any marketing campaign. Setting unrealistic goals, however, or goals that are too easily attained can negate your hard work when it comes time to analysing the results of the campaign.
Return on investment is a consideration for every business owner or marketing director, but all to often little or no thought is given to exactly how ROI will be identified and measured. Many marketers wait until after a campaign has been launched or is over to evaluate the results.
In this post we’ll look at the importance of measuring your video’s performance against set goals.
Start with a strategy
Many businesses approach online video and social media like they would if they were buying a new car. When you buy a new car it’s a decision based mostly on how it looks, how it drives, how much it costs and in some cases… what your friends or the people you aspire to are driving. You don’t necessarily think about where you’ll go in the car over the next year, what you’ll accomplish in it or if there’ll be a return on your investment.
We should all be looking at online video marketing as we would if we were buying a tractor, or a utility vehicle. What role do you want it to play in your business, what value will it add?
Without knowing why you need it, the ‘problem’ you are looking to solve and how it will improve productivity or efficiency, you may be at risk of buying a new tool simply to move things around- and while you may look really busy doing it, you may not be accomplishing anything of value. The investment in time, money and resources should be strategic consideration in your business and marketing plan.
We made this animated video back in 2012 to illustrate how many marketers approach online video. Far too many conversations and campaigns go something like this:
Clear goals from the beginning will help you create the right type of video content for your business and brand. Here’s 4 questions to help with the goal-setting stage that should lead to better execution and results:
1. Identify your goals BEFORE you commit to making video content. Be clear about what you want to achieve. If you simply want to get more targeted views paid pre roll ads on YouTube will probably do the trick. Getting more fans on FB? Consider Facebook video ads. If your goal is more complicated it is important that you have the proper calls to action in your video that will allow you to achieve these goals.
If you’re clear about your goals from the beginning, creating, publishing and distributing the right video content will be easier for everyone involved in the process.
2. Be clear about the message you want to communicate. If you’re focusing on launching a new product then the content of the video should be very different than if you’re looking to raise brand awareness. For example, you could use an “Explainer Video” for either objective, whereas one video might be explaining how your product works whereas the other could be explaining a concept or trend relevant to the space your customers operate in.
3. Identify your target audience. Are you focused on reaching a specific set of people, or getting as many views as possible to view your video? If the goal is brand awareness of a consumer product you may want a much wider audience than if you are promoting a video of your MD speaking at a conference, for example.
4. Have the right metrics in place to measure the success of your campaign. Quantifiable metrics are important- while not able to completely capture the success or failure of any marketing campaign, but it is vital to have set, measurable objectives that you can clearly evaluate your results against. A high number of views may seem like a good measurement of success but think about your sales and marketing goals and whether high views but low conversion in terms of sales or signs up is really what you want. This could work well for a brand awareness campaign but if you are looking to turn viewers into prospects you need the right measurement tools in place.
We’re keen to hear from you and learn about your goals, whats working and whats not working so well. Please share your thoughts or suggestions in the comments!