Determine whether it’s better to create the video content in-house or to hire an agency to handle it. It’s tempting to go the in-house route as it’s generally seen as the most cost effective, but that can be a mistake. As Sophia Bernazzani writes, “Videos are hard to make – and it shows. The internet is populated with far too many slideshows and photos set to music that are masquerading as videos.”
If you want to attract a new set of customers to your brand, you’ll want to create an awareness stage video. If you want to engage your audience, you’ll want a consideration stage video. If you’re close to closing the sale and need to nurture your prospects, you’ll want to create a decision stage video. You can also create a video to delight those who have already purchased from you, or an internal video to help motivate your team or recruit new employees.
Have a look at your current customer base. How can you profile them? What pain point are you solving? Where do they spend time online? This is the foundation of who you’ll target and how you will communicate your message. If you still have not hit the audience you’re aiming for, consider profiling your target audience based on the ideal customer. Ensure that they are in fact in need of your product or service and that you meet this need in a unique way within the market.
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.
What does this mean from a marketing perspective? Video is quickly becoming the number one way to connect with consumers, viewers, and followers.Between the automatic video-playback on most social media mobile feeds, and the 2.08 billion global smartphone users in 2016, an effective video marketing strategy can provide one of the highest ROIs for any brand’s digital marketing strategy.
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.
There are endless platforms for video marketing. YouTube, broadcast television, video boards and street marketing, you name it. The possibilities are endless. With a smartphone, consumers can access online video anytime, anywhere. The same is not true with traditional, paper marketing. With video, you can reach your audience wherever they are in a cost-effective way.