How you can get a positive ROI on video production within weeks
Video production is a powerful tool for businesses to communicate their brand story, showcase products or services, and connect with their audience. However, the cost of producing a high-quality video can be intimidating, and you may be hesitant to invest in video production due to concerns about Return on Investment.
But with the right strategy and execution, video production can deliver a positive ROI within weeks. Here are some tips on how to achieve success quicker with video.
Package the video with a free bonus.
Offering a free bons with your product or service is a proven way to generate leads and increase conversions. To make it even more enticing, consider packaging your video with free bonuses to attract potential customers.
For example, if you're promoting a fitness program, you could offer a free trial of the program along with a bonus video tutorial on healthy meal prep or a downloadable recipe book. This not only provides value to the customer but also showcases the breadth of your offering and can lead to increased engagement and conversions.
By packaging your video with free bonuses, you can create a compelling offer that motivates potential customers to take action. To ensure that the offer resonates with your target audience, it's important to understand their pain points and motivations and offer relevant and valuable content. Once you've created your video and free bonus package, promote it through your website, social media, or email campaigns.
Retargeting Ads
Creating a video for ads is a powerful way to reach your target audience and increase brand awareness. Video ads are particularly effective because they can convey your brand's message and evoke emotions in a short amount of time. However, video ads can be even more effective when made for a retargeting ad.
Retargeting ads are targeted at people who have already engaged with your brand, such as visiting your website or adding items to their cart but didn't make a purchase. These ads are designed to bring people back to your site and complete their purchase.
By creating a video ad for retargeting, you can remind them of their previous engagement and increase the chances of converting them into customers.
Repurpose existing content
Repurposing your video content can help you maximize your ROI. For example, you can turn a longer video into shorter clips for social media or use screenshots from the video as images for blog posts or email newsletters. Repurposing your content can help you reach a wider audience and get more value from your initial investment. Here’s a test we did with a relatively small company account.
We posted a full 3-minute video on LinkedIn and got 10 likes, 600 impressions.
Then we posted six 30-second snippets of the same content and got 75 likes, 4000+ impressions.
Almost identical effort; completely different results.
Every social network designs its interface for the amount of time they want users to spend per post. So, plan for and create snippets that fit into these time slots in your videos.
Sending video snippets to leads when it answers their questions.
When a lead asks a question, consider sending them a short video snippet that directly answers their query. This strategy saves time and resources while providing personalized and engaging content that can help move the lead further down the sales funnel.
By using existing snippets that answer common questions, or creating personalized responses for each lead, businesses can showcase their expertise, build trust, and increase the chances of converting leads into customers. According to a study by Vidyard, personalized video messages result in a 16x increase in click-through rates compared to generic, text-based messages.
Get on a new platform
Another quick win is getting on new platforms and repurposing content. While it's important to focus on mastering one or two channels before expanding your efforts, it's also essential to explore new platforms where your target audience may be active. By staying up-to-date with emerging platforms, you can gain a competitive advantage and reach new audiences.
To maximize the impact of your efforts, consider repurposing content for different platforms. For example, a blog post can be turned into a video or infographic, or a podcast episode can be transcribed into a blog post. By repurposing content, you can reach new audiences and provide valuable content in different formats. However, it's important to approach new platforms and content repurposing strategically.
Consider your resources, goals, and audience, and prioritize your efforts accordingly.
Newsletter
If you have a big email list, using video can be an easy win to convert customers. Email marketing is a powerful tool for reaching your audience, and incorporating video into your email campaigns can increase engagement and conversions. Adding videos to email marketing can increase click-through rates by up to 300%. The study also found that including the word "video" in an email subject line can increase open rates by 19%, and reduce unsubscribe rates by 26%.
When creating a video for your email list, the video should also be mobile-friendly and have a clear call-to-action that prompts viewers to take action. To ensure the best possible outcome, segment your email list and tailor the video content to the specific segment. For example, if you're promoting a new product, you can create a video showcasing its features and benefits for a segment of your email list that has shown interest in similar products.
Improve your website conversion rate
If you have a website with high traffic, getting a video on your website and split testing it can be an effective way to improve your conversion rate immediately. Split testing involves comparing two different versions of a webpage, such as one with a video and one without, to determine which one has a higher conversion rate. However, to get reliable data from split testing, it's important to have a minimum amount of traffic.
As a general rule, you should aim for at least 100 conversions per variation before drawing any conclusions. This ensures that the data is statistically significant and that any improvements in conversion rate are not due to chance. To split test a video on your website, you'll need to use an A/B testing tool that allows you to test different variations of your website and video. Some popular A/B testing tools include Google Optimize, Optimizely, and VWO. When split testing, it's important to make sure that you're testing one variable at a time, such as adding a video or changing the colour of a call-to-action button.
This way, you can determine which specific change is responsible for any improvements in conversion rate. It's important to keep in mind that implementing this strategy can be resource-intensive. If you notice changes are slowing down your website's loading speed, you should put a stop to the test immediately and figure out what the problem is.
Involve customers and potential leads
Involving your audience in the video making process can be an effective way to generate new ideas and create content that resonates with them. One way to involve your audience is to conduct customer content interviews. By interviewing your customers and asking for their feedback and insights, you can create video content that is more relevant and valuable to them.
By asking open-ended questions and actively listening to their responses, you can gain valuable insights into what your customers are looking for and what they care about. Another way to involve your audience is to ask for their ideas or questions through social media or email campaigns. Outside of this increasing reciprocity with your potential customers, it’s also a really rewarding way to approach content creation. You know that it will already help one person, which when starting out, means a lot.
They’re gonna be really impressed by the amount of research and effort that you’ve put into answering their questions. And speaking of, if you have any questions that you’d like to me to answer on video production, please let me know down in the comments section below, or just shoot me a DM and I’d be happy to put together a detailed video like this one on that topic.
Conclusion
In conclusion, you don’t have to be stuck waiting for results from your video marketing for years. Yes, content marketing is a long game, but there are some immediate results. By packaging your video with free bonuses, offering a free trial or demo of your product or service, creating retargeting ads, repurposing existing content, split testing, and involving your audience in the video making process, you can increase engagement, brand loyalty, and conversions much faster than by just firing it out into the world. The best results come from leveraging your current strengths and taking advantage of emerging platforms and trends, you can gain a competitive advantage and reach new audiences.