Before investing time, effort and money into creating a killer animated explainer video, you need to understand the impact it will have on your business, in other words: the return on your investment (ROI). And when it comes to measuring success, there’s nothing more reassuring than numbers.
Fortunately, marketing videos live on players or hosting sites, so you maintain access to analytics and data related to audience engagement whenever they’re shared. In other words, the metrics provided by videos are trackable.
Now let us explain how you can measure and improve the ROI of an explainer video:
1. Begin With The Primary
Your primary indicator of success is the total number of views of your video. This parameter determines how effective your video distribution plan is and where your visitors are watching it.
You also need to know where those viewers came from in order to focus your efforts in the right direction. Besides, an impressive number of views acts as an alluring factor that invites more viewers to watch your video -just because it draws more credibility.
2. But, Actual Views Does Not Mean Complete Views
A view of your video does not mean it is a complete view. This means that a visitor might start watching your video but they could leave your website without getting to see your call-to-action, which is actually the trigger towards your main goal.
Complete views are very useful because they can help you find out at what sections your viewers are dropping off. With this information, you will be able to make proper adjustments. You can also gain valuable insights as to which are the hot spots and where their attention is being drawn to.
Large view drop numbers may indicate that the video isn’t well made. If metrics reveal that too many people stop watching the video after the first few seconds, it could mean that you made a bad choice of style, mood or embedding spot… or that the video doesn’t aim to the right target audience, which is actually much more complicated because that’s something impossible to fix once video production is complete.
3. Identify The Active Viewers
Your animated marketing video should have calls-to-action at several spots. You can analyze your metrics to find out if anyone arrived to your home page through a call-to-action, in contrast to opening a new page, going directly to your website, or arriving through an online search.
Those who actually responded to your call-to-action are more impactful in the measurement of your ROI because this demonstrates the level of engagement your video is causing.
4. Time Bridges Views And Business
It is not so easy to correlate views directly to purchases, but you can use time periods to evaluate the ROI of your marketing video. When you distribute a new video, you can look at your converted sales in the period right after its publication. If you identify an increase in your sales, then that means that your video was successful in turning visitors into customers.
A profitable sales boost is the true return on investment of your video. Some online companies, such as Crazy Egg, revealed that a single animated marketing video increased their conversions by 60%. It’s stated that a good animated explainer video supported by a solid video marketing campaign increases sales by 20% on average.
5. Adjust To Improve
You should use the information provided by the metrics of your video to improve its effectiveness. Specific analytics like the segments of your video that are getting the most plays and where viewers are typically dropping off helps you to design better video marketing strategies in the future.
This information is telling you how you can improve the engagement of your customers through your video and, consequently, the total return on their investment.
Your website analytics are the most important statistics in regards to your marketing strategies. When it comes to measuring the effectiveness of your animated marketing video, these are some guidelines that will help you evaluate the impact that it is having on your business.
Now, if you want to learn more about video marketing strategies, visit our Explainer Video Academy and get our free educational resources (from eBooks to infographics and slides) to help boost your campaigns or else keep browsing our blog to get the best explainer video production tips on the web.