Imagine this scenario: your video marketing campaign is well underway. The video is sleek, the editing is on point, and the campaign paints your practice exactly as intended. Success, right?
Perhaps, but appearances are only one piece of the puzzle.
At its core, the measurable success of your marketing campaign hinges on quantifiable metrics, and there are several ways to gauge the effectiveness of your video marketing campaign.
1. Play rate
In short, play rate is the percentage of website visitors who click play.
Digging deeper than views alone, play rate shows how effective your video is at getting your intended audience to take the first step: watching your video.
Research shows that play rate can be heavily influenced by factors such as video placement and size. For example, placing video content above the fold on your website and keeping the width between 401 and 600 pixels has been shown to positively impact play rate.
Furthermore, details like the video’s thumbnail image can have a powerful effect on its play rate. Top-performing thumbnails emphasize bright, high-contrast photos that focus on people’s faces. Is your video’s thumbnail enticing enough to bring your audience in?
- Beyond cosmetic details, you should also consider a few technical stipulations when creating your video thumbnail. Google recommends that your video thumbnails:
- Have a resolution of 1280 x 720 pixels (with a minimum width of 640 pixels)
- Are uploaded in an image format such as JPEG, GIF, BMP, or PNG
- Remain under the 2 MB limit
- Use a 16:9 aspect ratio, the most commonly used aspect ratio in YouTube players and previews
Simple changes to the way your video is positioned on your site can have a positive impact on play rate, drastically increasing the effectiveness of your video marketing strategy.
2. Engagement rate
Engagement rate, or the percent of a video that a viewer watched, tells you how engaged users are throughout the duration of a video, providing a valuable assessment of the strength of your content.
How much of your video are viewers watching? Where do common drop-off points occur? These are just a couple of questions to ask when determining the effectiveness of your video.
Depending on your audience’s engagement rate, you may miss out on opportunities if you make your main point or state your call to action after viewers have lost attention and closed the video. But, if you know how long your audience is engaged, you can tailor your content to capitalize on that timing.
Engagement rate also plays a key role in SEO for video rankings. When suggesting videos, Google’s algorithm prioritizes engagement rate over play rate, and the higher your engagement rate, the more likely it is that your content will be suggested.
3. Conversion rate
While high play and engagement rates are good, these metrics don’t mean anything if you are unable to convert viewers into potential customers.
Conversion rate gauges the number of viewers who complete an intended action—for example, calling your firm, booking a legal consult, or hiring your practice—and conversion rates reflect the primary goal of video marketing campaigns: driving leads.
The key to a strong conversion rate is to deliver a clear, compelling message that inspires your audience to take action. What do you want them to do after they watch your video?
Your call to action should:
- Be clear and concise: Don’t complicate your call to action with multiple messages. Direct viewers to take the next step with a single, strong request.
- Create urgency: Use words like “today,” “now,” and “immediately” to create a sense of urgency in your message.
- Use actionable language: Instead of saying “You can find us at www.myattorneypage.com,” relay a pointed actionable step, like “Book your consultation today at www.myattorneypage.com.”
If your video isn’t converting, consider your engagement rate to ensure that your call to action occurs before viewers drop off. If you don’t present a clear, compelling message before viewers click away from your video, your conversion rate will suffer.
4. Social Shares
According to Shareaholic, social media is the #1 source of referral traffic to web content. Moreover, 92% of consumers say that they trust earned media, such as recommendations from friends and family, above all other forms of advertising.
Social media stats (shares, likes, comments, etc.) can provide meaningful insight into what types of content your audience wants to see.
Here are several quick ways to increase social media engagement for your video content:
- Keep videos short: Longer video content leads to lower engagement rates. Deliver a compact, powerful message that users want to share.
- Curate content: Share useful information and related content to give people a reason to visit your page. This helps increase page engagement and build brand trust.
- Join relevant groups and forums: Find out what people are talking about and sharing. Interact and with users to create an avenue for discussion with your firm and share content to drive engagement.
- Embedding videos (Facebook specific): Natively embed your video content directly in Facebook instead of linking to it. This enables your content to autoplay when users scroll past and increases the probability of your video content being watched.
5. Return on Investment (ROI)
Another key determining factor of success or failure for a video marketing campaign is ROI. With a myriad of ways to spend your practice’s hard-earned marketing dollars, where should these budgets be allocated?
The best way to go about this is to determine what you are willing to spend to acquire a new client as well as and what types of marketing channels are worthy of that budget. You can acquire leads via lesser expensive channels or focus on a single channel; but those leads are not always high-value clients. Additionally, these more traditional channels (i.e., paid search on Google) are seeing a slower rate of growth in recent years with increased competition in the space.
Research shows that people are watching video more than ever across multiple devices, wherever they are. Adapting your marketing plans to be in front of your target audience at all times is worth the budget to attract higher value clients. Speak to these high-value clients via the channels they’re engaged with at the right time with the right message. Your ROI will follow suit in the long run.
While ROI can range drastically from firm to firm and vary greatly across campaigns, a recent study found that 51.9% of marketing professionals name video as the type of content with the best ROI. According to the world’s video marketing professionals, video content drives results.
But how can you measure ROI for video content? Surprisingly, it’s not as difficult as one might imagine.
Video marketing allows for a number of measurable avenues with which to track the flow of video viewers to eventual clients: Google analytics, form submissions, call tracking, landing pages, client feedback – all of these things coalesce to create measurable, powerful analytics that you can use to track your video marketing ROI.
There may also be an attributable overall difference that is created over time by general awareness. Some people refer to this as a “halo effect.” People watch your videos, visit your site, search for you via Google, then pick up the phone and call a few weeks later – but they can’t exactly recall the first time that they noticed you. This is where attribution comes into play. Be sure to set benchmarks to measure the data before and after your video marketing campaign to assess these trends.
Each of these 5 metrics provides valuable insight into the success of your video marketing campaign, and they all tie in to create the overall picture of a video strategy’s effect on your firm.
The key is quantifiable measurement. After all, if you don’t know the effect that a video marketing campaign has on your practice, how can you be sure of its success?