Growing a business isn't easy. First, you need a viable idea. From there, you need to discover a profitable niche, define a target demographic and have something of value to sell them. Whether you're peddling products, services or information, getting the word out has become increasingly burdensome. And without the right marketing strategies to fuel your growth, churning a profit and staying afloat is virtually impossible.
You may remember George Takei from Star Trek but now he is managing exceptionally written social media channels and has grown a massive following. How did he do it? He has mastered the art of a strong caption. His captions have a clear point of view, are littered with emojis (not a must but a great addition for many brands) and make elicit an emotional reaction, and better yet the motivation to comment and/or share with friends. This can be from a simple statement or an interesting question, as long as it’s authentic.
Commercials are brief, attention-grabbing videos Extended ArticleDemystifying the Online CommercialThe online commercial can seem like a confusing and mystifying concept. You might find yourself asking “Do I really need an online commercial?” or… Read More that highlight your company’s best features with a dynamic scene, beautiful imagery, or summary of exciting features, and end with a clear call to action. They’re the most common type of video — you’ve probably watched a ton on TV, streaming services, or video platforms like YouTube. Because their primary goal is to attract new customers, commercials are often broad in appeal and provide only the most important and relevant information a viewer might need.
Completion Rate: Completion rate is the number of people who completed your video divided by the number of people who played it. Completion rate and other engagement metrics are a great way to gauge a viewer's reaction to your video. Do you have a low completion rate? Are people all dropping off at a certain point? This might be a sign that your video content is not resonating with your target audience.
Make sure to track your reach, clicks and sales for each ad and consider A/B testing one element of your video or caption and then run it again. Needls Co-Founder Michael Koral points out that, “by testing two videos against each other, you can isolate what messaging does the best for you (and at a larger scale because more eyes will be on your content) to see what provides the best engagement and ROI from their advertising.” As you create more and more videos you will be able to track your business trends and what wins your audience over.
In fact, the biggest challenges of video marketing in 2017 are strategic: How to build a solid and effective video marketing strategy, how to create content that people want to consume, and how to create engaging videos that get shared. Additionally, video content marketers need to have a solid understanding of metrics, and how they indicate a video’s success and areas for improvement.
That said, simply knowing how much video is being consumed and thus you need to be using video to grow your business, is not enough. The essential element of making video marketing work in your favor is creative content, strategy and consistency of publishing. Your videos need to be ones that get attention and engagement and  you also need to approach it methodically with a performance mindset.
Owned distribution is always a must, though, since you own and have complete control over these channels. There’s the lowest barrier to entry here and they also have the most opportunity due to how many different options for distribution you have. If one form of owned doesn’t work, another surely will. And, if your goal is to capture leads, using your owned channels is especially crucial.
In the last 10 years, the digital landscape has changed significantly. People are phasing out desktop and laptop computers to search the web and interact with content. Instead, they are picking up their mobile phones and tablets. What’s more, digital technology is cheaper today than it’s ever been before; there are virtually no boundaries on how, when and where people can interact with content.
Reading your article, I’m amazed at the statistics you mentioned. I didn’t realize the impact a single video could have on a business. Marketing will always bring more traffic to your site but having videos does even more so. It’s impressive that when seeing a video of a product, 74% of those people will buy what they watched. I’ll be sure to tell me friends with business about this article so they can boost their customer viewings!
Finally, revenue that comes from delighting your customer should be easier to track since you already have a purchase on file. You’ll likely have a user profile for each customer or some form of contact information from them — every return visit won’t correlate to a new sale, but tracking their behavior will give you a good idea of how many return visitors convert. Then apply this percentage to the number of return website visitors and you’re set! Hopefully, your sales department will also have a good idea of how many first time buyers purchase more than once.
It’s time to nurture your prospective leads! If your audience has made it this far down the marketing funnel, your marketing efforts are paying off. Nurturing is one of the harder stages, but luckily, it’s quick and easy to measure. If you’ve done a successful job nurturing, you’ll see it in conversions. What those conversions are are up to you — you might want sales, social shares, contact information, you name it. But the completing of a desired action means your video is accomplishing exactly what you want it to.
Now comes the script writing, the search for the perfect agency, the video review and edits, and celebrating finally having a beautiful, well-crafted video you can be proud of. The entire production process should take about two months with the right partner, but be sure to plan more time than you need for each of the following individual production stages so you don’t fall behind.
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