Return on investment is the end game for most business endeavours. Videos aren’t cheap and marketing budgets aren’t infinite, so being focused when developing the project is a must.
Clear objectives and an understanding of what you want to achieve is priority number one.
Your Video Needs a Purpose
Too many companies throw out video content because they think it’s expected in today’s marketing landscape. Which, of course, it is but they don’t consider purpose and it becomes content for content’s sake.
Emphasis is shifting more and more towards customer engagement and away from direct selling. Explainer or how-to videos are an example in point. They show customers how to get the best out of your product or service without resorting to a direct sales pitch.
SMART analysis is a good way to start thinking about any project:
- Specific: There’s no room for conflicting ideas or woolly notions, your video should have one (two at the most) specific reasons for existing. The tighter you can make this, the easier it will be to implement.
- Measurable: If you’re objective is suitably simple; it should be easy to measure success. For example, if the aim is to get more people buying your product then conversions on your website will be your focus.
- Achievable: The next thing to consider is whether your video idea is something you will actually get done and get done right. Hurdles such as cost and production will all need to be carefully considered beforehand.
- Relevant: This can mean a whole host of things but usually means how the choice of video content fits with your existing goals and ambitions. If you have a product launch on the horizon, the relevance should be easy to see etc.
- Timely: Finally, you need to be able to achieve your objective in the time that you have set aside. This seems simple but it can cause problems, if not considered early on
Honing Your Objectives
You might have the simple objective of using your video to grow your audience. This sounds good on paper, but you need to make it more specific. Is your goal increasing your audience on Facebook? Maybe you want to improve people signing up for the e-mail updates on your website? Do you want to build a separate YouTube community? Get that objective locked down.
The deeper you can drill down into why you are creating this video, the better. Perhaps you simply want to improve your sales. In that case, do you need a promotional video or can testimonials or how-to content better sell your company? These are all questions to discuss with your team and possibly an outside consultant, long before the project kicks off.
With your objectives on point you now want to make sure that you’re using the right measurements to see how your video is doing. You might be getting lots of engagements on YouTube, but people aren’t buying your product. This is a useful tool so iron out the creases and see what’s stopping people going to your site.
So, if you keep the SMART model firmly in mind, know your objectives and how to measure them then you’re likely to see a solid ROI. Your video should hit the right audiences and you can consider it money well spent.