What is the ROI (return on investment) on video marketing campaigns? We’re frequently asked this question by clients when they start their video marketing campaign. They want to know what the direct monetary results will be from their digital marketing efforts. Typically, there’s a misconception that a single video will produce an immediate ROI in dollar form, and clients over focus on the ROI of a single video.
But a click is rarely an automatic conversation, and a single video isn’t likely to immediately skyrocket your sales. Instead a high monetary ROI comes from a marketing campaign that raises your brand awareness and leads the consumer through their purchasing journey.
How to gain customer engagement
Think with Google–one of our favorites here at Fresh Ink Marketing–lays out the online buyer experience as a journey with three stages. A buyer begins by scoping out the marketing, narrows in through research, and finally makes the purchase.
Your video campaign must address the buyer journey and get stuck in the buyer’s head. You need to target your audience with the right message at the right time each step of the way. Your expert guidance will establish trust leading to conversions when they’re ready to buy.
There are a few key performance indicators (KPIs) for each stage to let you know how your campaign is doing in both raising brand awareness and leading the buyer’s journey.
The stages of purchase decisions
Throughout your campaign, stay focused on the KPIs for each step. They’ll let you know if you’re reaching the buyer where they are. Here’s an overview of these stages and the KPIs:
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Awareness
Buyers gain a sense of the market, and identify who’s out there. Most companies starting marketing campaigns begin here with corporate profiles or sales videos. You’re providing first impressions, and also getting your name in their heads. The KPIs are views, impressions, unique users, awareness lift, and ad recall lift.
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Consideration
Buyers search for more details and information. They want to know why your company compared to a field of others. Your goal is to boost interest in your product. The KPIs are video view-through rates, video watch times, favorability lifts, consideration lifts, and brand interest lifts. These metrics show engagement with your complete message.
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Action
Here the buyer has come to see your product and brand as the top of the market. You’ve raised awareness, and you’ve led the buyer throughout their journey. The buyer purchases your product, and you see the monetary ROI.
Targeting each stage of the buyer’s journey establishes yourself as their go-to informant on the market and products. Buyers will come back time and time again until finally making the purchase from their trusted partner, you. Focusing on the KPIs and hitting each stage with a compelling message will ultimately give you a successful brand and high ROI.