More businesses are implementing video marketing strategies
As consumers have become comfortable with video content and found it to be a useful way to consume a lot of information rapidly online, businesses have add their own video content to the mix, putting forward campaigns as simple as a 30 second video shot with an iPhone to a full-fledged campaign professionally overseen by an advertising agency.
But with so much noise in the video content arena, getting your company’s voice heard can be a tremendous challenge, and moreover, unless you are an experienced professional, do you know if your campaign is even doing well?
Measuring the success of a video marketing campaign can be tricky, but Chris McKnight at advertising and production company, Grey TV asserts that their modern approach significantly amplifies their message in competitive environments.
7 tips to remember for your next video marketing effort
McKnight shares his expertise in his own words through the following seven tips:
How many views does the video capture from the desired audience, and how quickly do they accumulate?
The key here is to define the audience, and identify your market penetration ratio. Within the first 3 months, a penetration of 10% online, and 25% through broadcast television is considered to be a healthy start to a campaign.
A video that draws attention rapidly at the beginning and levels off after a few months is common. Look for ways to create a series of videos, or different versions of videos to continue building interest after the first 3-4 months.
How many viewers are watching all (or most) of the video?
If your video is being closed quickly, you have one of two problems:
1. The content is not relevant to your target market or
2. You’re placing the video in the wrong media outlets.
The ultimate objective, especially with digital content is to present a compelling “hook” in the first 5-10 seconds of the video that gives viewers a reason to keep watching.
By how much does the video increase conversions at key points in the sales pipeline (calls, clicks, shopping carts, checkouts, etc.)?
Most marketers think of videos as a way to generate awareness of their product or service, but increasingly videos are being used to “close business” as marketers are using video content to support consumer research online, and provide confidence to buyers. Zappos.com is a leader in this area.
Videos are increasingly becoming interactive, with click through taking place in the video, and often leading to a product content page or a shopping cart.
Can the video be cross-purposed across marketing objectives?
The most successful marketers make videos that can be “re-cut” or re-purposed from their commercial or online video format. Examples are sales conference promos, trade videos, and product demonstrations or testimonials for a product website.
Videos can also be designed with “inserts” that can be used to sell a rotation of products, especially seasonally.
Does the video continue to drive views over the long term?
Most videos have a lifespan of 3-6 months. Any video that continues to draw views beyond that timeframe should be considered successful.
Typically sensational videos attract lots of attention in a very short period of time, and then die out. More traditional content videos have a more gradual growth curve, but tend to last longer. Sensational videos tend to work better for new product launches where immediate awareness is key, and more traditional content is more conducive to long term brand building for an established product.
Does the video build (not destroy) brand equity?
Many videos and commercials use sensationalism and other eye caching techniques to create instant awareness with the goal of selling more products faster. There is a high correlation between this strategy and new products, simply because new products do not have established brand equity – they have no brand value to lose.
On the other hand, long-established brands have substantial value built up in their products, and are less likely to use “shock-and-awe” content to promote their products.
How well does the video integrate with social media, and how much is it shared?
The holy grail of video marketing is creating a “viral” video that generates millions of views. While this is possible, its better to build a comprehensive content strategy with multiple videos and a variety of content. Banking on one video to go viral is like buying a lottery ticket – you always hear about the winners but its never you.
Ensuring that your video content is sharable is key, but be sure that you maintain the final control over how and where it is shared. To do this make sure company YouTube and Facebook accounts are properly set up and settings carefully managed.
Whether you DIY or hire the professionals
Regardless of the method used for creating your video marketing campaign, take into account McKnight’s seven tips to give you a better understanding of measuring success. Having realistic expectations and being aware of how the professionals do it can give you a substantial advantage against your competitor who may be spinning their wheels.
Benjamin Ficker
June 27, 2011 at 1:45 pm
I like the video, but I don't agree with what she is saying. Of course, there is the paradox of choice. When you have too many choices, you fail to act (https://goo.gl/xMSkS).
But the idea that I get to blame everybody but me is crazy. Many times when people are fired from their job it IS something they did. Of course there is downsizing, stuff out of your control, etc but more often then not it is because someone isn't meeting expectations.
What I LOVE about real estate is that my successes AND failures are on me. Nobody else. Yes markets change,but it is MY choice how I react to that. This market has brought me more business then I know what to do with. For others, they are out of the business working 9-5.
Ruthmarie Hicks
June 27, 2011 at 2:27 pm
Although the purpose of the video was obviously different – the point is very applicable to this particular market. One of the hardest things I find I have to do is to push for a DECISION. You can't let them get away with total procrastination. They have to decide – to move ahead or not. To offer a fair price – or not, to counter fairly – or not. If you don't make a decision – you are still making a decision.
Brad | Home Loan Artist
June 27, 2011 at 3:50 pm
Interesting video…..this is why I majored in Psychology knowing full well I would never go into the field.
I like that quote: "A wise Realtor and my mentor used to say to clients at the onset of their transaction, “this process is going to look extremely easy, and that is how you know I’m doing my job well.”
I've always been fascinated with the idea that most clients are not aware of all the details that go on behind the scenes of a real estate transaction……and I'm thinking from a loan perspective.
If they don't know how difficult it can be to get to funding a loan, how will they ever appreciate (or place value) on your ability to make it easier than if they had worked with someone else? They will never know if the grass they are standing on is actually greener because they have never worked with another person to secure financing…or buy a home. Thus even one small obstacle can cause them to think another lender or person wouldn't have required me to satisfy that condition.
And if the last time they bought a home was between 2001 and 2007, no matter how good I do or simple I make it…..it will always seem more difficult than when they did their stated/stated no doc loan.
When you tell them how good of a job you are doing, it looks like you defending your self….like you did something wrong.
Jay
June 27, 2011 at 11:20 pm
I agree that when presented with too many varying options, it can be overwhelming, while no choice or too limited of a choice is problematic as well. Take cable TV for example, they package a lot of good content with a lot of junk. What is needed is a way to filter out what you don't want with the things you do want. In short, presnet people options, but also give them the tools necessary to deal with the options. Give them a way to narrow the options so that they can see the things that are important to them and ignore those that are not.
In fact, that is exactly what we do with our iPhone app, House Hunter. We provide home buyers with a way to identify all the home features that are important to them and give them a way to share that with their agent. Now their agent can then use that data to narrow down the choices so that they show client those homes that best match their needs.
Check out our FB page to see how it works and how it might help you as an agent, help your customer.
https://www.facebook.com/Cre8tiveApps
Regards,
Jay Taylor