Fifty-two percent of global marketers consider video to be the form of online content with the greatest ROI, a significant revelation among the industry. Yet two-thirds found video to be only somewhat successful at achieving its primary goals, with only 18 percent citing their video efforts as “very successful.”
ROI measurement may be clouding the vision of these marketers, and for good reason: Sub-standard measurement tools can make it impossible to put video performance into context. There’s good news in this regard: iMedia Connection notes that increasing access to consumer behavior data, including the rapid rise of long-tail keywords, is making granular data much more accessible, and this can uplift efforts to both build smarter strategies while providing more accurate insights regarding ROI.
Granular measurement is sure to take on a larger role within organizations seeking better video marketing ROI insights, but that’s just one wrinkle in this marketing channel’s rise.
The past year was seen as a critical year for video’s rise, and that proved to be true: Ninety-three percent of marketers, and 96 percent on the B2B side, used video for various marketing efforts, as well as sales and communication.
Eighty-one percent of those professionals featured their video on their company’s website, according to HubSpot. And nearly three-fifths of executives said that when given the choice between video and text, they opt for video.
Brand awareness, lead generation, and online engagement all drew strong endorsements among the digital marketing community, showing that video’s ROI potential can be realized through a wide range of activities. This diversity underscores the great value of ROI, but it also makes that value hard to pin down. Brand awareness and other primary goals of video marketing are not easily nailed down, at least without the right analytics tools. If 2015 was the year video flexed its strength, 2016 is set up as the year in which marketers find the right measuring sticks.
Measurement procedures will always depend on the types of ROI you want to measure for, so goal-setting is an essential first step. Video needs more measurement to be effective, and this requires the use of emerging technology designed to reach deeper levels of understanding.
As Business.com notes, analytics tools deploying a heat map can be invaluable in tracking whether viewed videos are spurring engagement or other consumer activity. Given that digital video is much more active in nature than traditional TV, which is viewed passively, the reliance on “views” as a metric is outdated. Marketers need solutions that will provide information beyond just the view itself, mapping out consumer actions and behavior in a more insightful manner. Heat maps are just one such solution. The providers for this emerging tech are out there. It’s just a matter of finding them—or, more appropriately, convincing management to let you go find them.
Video marketing ROI may be looking good as the calendar gets ready to flip over, but there is plenty we still don’t know. Marketers should savor their success in 2015 and prepare for another hard push to start the new year.
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