New technologies have made video the star format when it comes to disseminating a brand's content. Users prefer video when it comes to receiving information and this can be seen in the results of the content strategy.
what is ROI?
ROI, which stands for "Return On Investment", is a metric that calculates how much a company has earned thanks to the money previously invested in certain actions. It is a very simple calculation, you only have to subtract the costs from the total income and divide what is left by the total costs.
What ROI allows is to find out with certainty how much money the company is losing or gaining from the actions it has carried out in the different channels. This is measured to find out which investments are paying off, which are not and which need to be optimised to perform even better.
With this we can plan several tangible goals, that is, once the objectives are set, it will be easy to know if we are reaching them or not thanks to the ROI.
Let's repeat the formula to make it clear:
ROI= RETURN-ON-INVESTMENT / INVESTMENT
It is a very easy metric to achieve.
why is ROI important?
This indicator, which calculates the return on an action, can be applied to all investments, yes, you read that right, from marketing campaigns and events that the company carries out to improvements within the infrastructure itself.
It is also beneficial to have a good ROI for your investors, if you have good results, they will want to invest, if they see that your ROI is negative, they will not want to invest in your business.
Taking into account the ROI data will help you when setting objectives according to the SMART model, that is to say, not only will we have measurable objectives, but we will also have achievable objectives for the company, we already know what goals to set because we know what benefits we are obtaining. And the objectives in a strategy are the most important part, having well set objectives will leave you half way done.
what is video marketing?
Using video as part of your content strategy is a great success, it is an ideal way to reach the younger generations and to connect with all users in a more direct and emotional way.
As its name suggests, videomarketing is a tool used within online marketing in which the use of audiovisual images is the basis, this is broadcast on the Internet and is used to achieve different objectives previously set.
Creating video content that has a minimum quality, involves an investment in time and effort, but if you have well defined your goals, it will be an investment that will be worthwhile. The data show that the audiovisual content within your page has a very positive impact on sales and ROI.
In recent years, video has become a trend and continues to grow more and more every day. This can be seen in the data, we leave you a list with some of them:
- According to Forbes (2018), users spend 88% more time on a website if it has integrated audiovisual content elements (especially videos).
- 87% of marketers are using video in their strategy (Wyzowl, 2019).
- Companies that use video in their strategy get 66% more qualified leads each year according to Optionmonster (2019).
- 95% of a website's audience remembers a video in the call-to-action sooner than text (Forbes, 2017).
- 72% of website users prefer to consume information if they have an audiovisual option.
how to multiply your ROI?
The main benefit of ROI is to optimise the conversion rate, which also improves the website, and improving conversion (CRO) is directly linked to improving ROI, optimising the conversion of your pages generates more results and more profit, so it has a direct impact on the return on investment.
Within social media, video is an essential key to increase ROI, how to achieve it? read on.
- As a first step, it is very important that you know your competition well, in social networks there is no surplus of users, and everyone publishes content, so anyone can be your competition, capturing attention has become a risky sport in which either you get it or others will. If you analyse what users are looking for and what they expect from you both your customers and those of your competition, you will get their attention.
- Identify yourself with the destination. Any relevant information will help you to be identified with the destination, and by sharing it on your networks, you will have everything done.
- Once you have analysed the tastes of your competitors, adapting your content to them will increase your customers, remember, renew or die.
- Generate valuable content, share with your customers all kinds of offers, product evaluations, in short, offer exclusivity.
Increase your ROI thanks to video
The creation of a video is divided into three main parts: pre-production, production or shooting and post-production.
- Pre-production: From the first moment you have to take into account how the whole process is going to be, from beginning to end, this video phase is designed precisely to organise the whole process. And as in all beginnings, you must set the objectives well. Having clear objectives, you will be half way done. What does my audience like to consume? That is precisely what we have to achieve, if we plan well the content we are going to offer, we will be well on our way.
- Production: The ROI in the filming stage can be improved by optimising the time and money invested. So you have to be very efficient in the shooting, if a video can be recorded in X amount of time, everything that exceeds that time is inefficient and will be delaying us and costing us money, so the ROI will decrease. For this we must have an impeccable organisation, any error in the organisation can interrupt the shooting.
- Post-production: This is the most important step to demonstrate the return on investment in the video, once we have the finished video, we can measure the results easily, measuring the success of your video once you have invested all the money is very important. The tools to measure these results are easily found on the internet, there are many ways to determine whether your video marketing campaign has been successful or not. Everything must be measured numerically, the data is what will help us to measure whether our ROI is positive or not.
In short, adding video to your content strategy will increase your ROI without hesitation, so don't wait any longer, investing in a video marketing strategy is not only beneficial for your content strategy, it also increases your conversion rate and with it, your ROI. Get excited!