B2B Video Marketing Campaigns: How to know if it’s working!
While video marketing is the go-to-solution for most brands and businesses today, B2B companies have been relatively slow in climbing aboard the video marketing bandwagon. There could be a number of reasons for this; either there’s lack of equipment, budget, or more importantly businesses don’t how to measure the performance of their marketing activities. And it’s true, if you can’t measure your campaign’s performance, how do you know if it was worth spending all that money on. Given this challenge that most B2B marketers are facing today, we’re going to look and analyse specific B2B video marketing goals, in this blog post
In order to analyse your campaign, you’re going to need a ton of data. Some of the metrics worth considering include:
Plays: How many times your video has been viewed.
Impressions: Suggests how many people visited the page where your video has been published
Engagement Rate: how much of the video was actually watched
Conversion rate: How many people actually act on your call to actions
Social shares: This important metric will deal with how many times your video was shared on social media platforms.
Let us now take a look at the top 3 B2B video marketing campaign goals and look at the metrics to help you determine how effective they are:
Goal 1: Being perceived as a market leader
When it comes to creating the impression of a market leader, thought leadership campaigns are a good way to go. Especially, if you’re considering reaching out to new audience members. These campaigns will not do much to convert a prospect into a buying customer, but instead will help garner awareness and credibility for your brand. Here’s an example of a thought leadership video by marketing whiz Gary Vaynerchuk. The video gives you a taste of the type of thought leadership video content that Gary and his team create.
For these awareness-focused campaigns, you’re looking to build trust among prospects. And so, metrics like impressions and plays on your video along with social shares may be a great way to measure your video’s performance. Also look for comments and see what how people felt after watching the video.These can be indicators too.
Goal No 2: Generating Leads
Generating qualified leads is key to the sales process. One way to do that in your video marketing campaign is to create premium gated content. Sure it will need some extra budget and resources to make, but it can truly be worth it. For instance, it could be an interview with an industry leader on a very relevant topic to your audience. When you’re creating gated video content, it means that your audience will have to share their email addresses in order to view this content. After the lead capture, you can start sharing targeted content to help your lead move down your marketing sales funnel.
The other type of content you can create is a product video. With a product video you’re able to pitch your value proposition directly to your potential customer. If the prospect is intrigued by your product or services, they are more likely to get in touch with your brand. Make your product videos interesting. They don’t need to be boring. Here’s an interesting product video we worked on…
For metrics, you’ll want to keep an eye on engagement and conversion rate. With engagement rate you’ll be able to figure how much of the video was watched. If you want to calculate conversion rate simply take the number of people who acted on your call to action and divide it by the total number of people who visited your site. So, let’s say you have 10 people who sign-up vis a vis 20 people in all who visited your website, you’ll know your conversion rate was about 50%.
Goal 3: Improving customer experience
After your lead had converted into a customer, it’s important to keep them happy. A product tips video is a good way to go. What these videos will do is keep your customer in the loop about your latest and current offerings. Don’t forget to include helpful updates and offers that they could benefit from. Alternatively you could show them a behind-the-scenes video, so they get an idea about how you do things to stay ahead of your competition.
Watch this interesting tips video we created for Woolworth’s new online community platform Bunch! It reinforces the above point about sharing helpful updates and retaining customers.
The other great idea is testimonial videos or customer stories that can help build a sense of community among your customers. You can highlight your offerings without getting to sales-y. Here’s an example…
For metrics, you can work with play rate and engagement rate to find out how your videos are performing. Keep an eye on the engagement rate, as this is often indicative of what the viewer likes and what matters most to him/her.
Always remember that no matter what your B2B video marketing goal may be, video is truly one of the best tools out there. Use our tips to measure the ROI on your campaigns. And, if you’re looking to partner with a video professional for your next campaign, give us a shout. Write in to [email protected] today.