How to measure the impact of video | Melcrum | Creative video marketing London

Posted by on Apr 19, 2015 in Blog, Business

How do you measure the success of video?

Here at Magic Beans, we enjoy helping clients get the best creative video marketing  London can offer, and we don’t have to justify ourselves, they are what we do.

But for you, we realise that’s not the case. In order to justify spending thousands of pounds on video content, you need to be able to prove that the investment is worth it.

Videos have to justify their existence in a budget-constrained environment. And for this, we’re normally talking about the bottom line – videos have to equal money in the bank.

But how do you measure this? If you don’t, then it’s always going to be hard to justify the use of video to those holding the purse strings, even when all the research says that you should be using it as part of your marketing mix. So, what you need is data, and not just data – detailed and specific data that can show you how people use your website, how long they view your video for, and what they do next.

So, what tools can you use to help you measure the success of video? Well, according to Bill Marriott, Senior Director – Video Communications and New Media at SAS, a business analytics and software services company, you should look at what’s going on in the external environment, and bring that into your business.

“You have to realize that at the end of the day it’s all about data. If you begin to internalize what’s going on externally and bring it into your own business unit, it’ll be clear how you can collect data about the work you’re doing, who’s using it, how much it costs to do, what resources are required to produce it. And when you start thinking that way and start collecting some of the data you can do pretty amazing things with it.”

– See more at: https://www.melcrum.com/research/intranets-digital-social-media/how-measure-impact-video#sthash.RoihWGfw.dpuf

We’ve found a helpful article explaining how you can use surveys and online tracking to prove that your videos are valuable to your business:

 

Despite the proliferation of video as a channel for internal communication, some challenging questions still remain about the overall effectiveness of video and how it can support specific business and communication goals. Central to the question of video effectiveness is measurement – how to measure accessibility, usage and behavioral outcomes of video not just for corporate video content but also for user generated content (UGC). Here we consider the most effective channels for evaluation like surveys or online tracking, but also what communicators need to consider when planning video for maximum impact and ROI.

As with so many channels open to internal communicators, we find ourselves at the point where we need to ask the big question – how do we measure video’s impact? And as with so many other channels, the answer to this isn’t always an obvious one, or an easy one to arrive at!

If your measurement isn’t all it could be (due to, for example, lack of resource, skills, time and limited online analytical capability) then it becomes even more important to think carefully about your business case at the outset and do what research you can to make sure that efforts will have impact. It’s fair to say that video is being championed in a number of organizations because people have an intuitive feeling that (done well) it’s more engaging and because they can see developments with video communications in the external world.

This is highlighted in our survey results where the most popular business case cited for internal video (at 18.2%) was “anecdotal feedback and gut instinct”. Some 35.2% of respondents said they currently don’t do much or any measurement of video. But, interestingly, only 5.3% of respondents cited inadequate measurement as a challenge to video serving as an effective internal communication channel. It’s impossible to build the “perfect measurement system” in one attempt, it would seem. Those organizations most satisfied with the results of their use of internal video have reported that piloting small video-related communication projects has proved a great platform to test and learn, and also evaluate what and how we can measure.

That doesn’t mean that, for now, poor measurement is OK, but until things get more robust, doing our homework upfront and developing a robust business case with clear goals that we believe can be achieved through video (and therefore evaluated at the end of a project) before getting started – or before investing further – seems more important than ever. That’s really how we can embed measurement right at the start of our video planning process. Ultimately, we need to ask the question – “what are we trying to achieve with video?” and set our answer to that question at the heart of our business case and measurement efforts. This is a sentiment echoed by Bill Marriott, Senior Director – Video Communications and New Media, SAS, a leading business analytics and software services company.

 

Curated from How to measure the impact of video | Melcrum | Smarter Internal Communication

 

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