Taking a Look at Marketing Metrics

November 6th, 2023
This is a photo of the write of this blog, Corben Surio
Title card for Corben Surio

How to know if your marketing tactics are working

In today’s digital age, video marketing has become an indispensable tool for businesses to engage their audience, convey their brand message, and drive conversions. But how does your marketing team determine the success of their efforts? The answer lies in the analysis of key metrics and analytics tailored to the specific goals and purposes of the video. The next couple of paragraphs will explore the metrics that marketers should pay close attention to when tracking the success of their video campaigns.

Key Metrics

Before diving into metrics, it’s essential to have a clear understanding of the video’s purpose and the platform it’s hosted on. Different goals require different metrics. For instance, an awareness video may prioritize reach and engagement, while a product demo video aims for conversions.

Now let’s chat about paid advertising. Having video ads made is already an investment, paying for those videos to advertise is an even more significant investment. To ensure a positive return on investment (ROI), tracking cost per click (CPC) and cost per acquisition (CPA) is crucial. CPC measures the cost of each click on your video ad, while CPA calculates the cost of specific actions, such as form submissions or purchases.

Not all videos are created equal. Marketers should create multiple variations of their videos to test different elements. This includes variations in the intro message or copy, color schemes, and call-to-action (CTA) buttons. A/B testing can help identify which elements resonate best with your target audience, leading to improved video performance. When videos are hosted on your website, engagement metrics take center stage. Metrics like the average time spent watching a video and the click-through rate (CTR) on related content are essential indicators of success. Google’s algorithm considers user engagement as a factor for search ranking, making it even more crucial for your website’s visibility.

The Funnel

We’ve all heard the term funnel marketing (yes it’s the one you’re thinking of), also known as the sales or marketing funnel, it’s a concept that represents the stages a potential customer goes through before making a purchase. It typically consists of several stages, including awareness, interest, consideration, and conversion. The goal is to guide individuals through these stages by providing relevant information and experiences to ultimately convert them into paying customers. Marketers use various strategies and tactics at each stage to nurture leads and move them closer to a buying decision. So you may be thinking, how can I apply this approach in video marketing?

For starters, educational videos can be used to address common customer queries, reducing the burden on customer support teams. By tracking the decrease in routine support tickets, you can quantify the impact of your video content on operational efficiency.

Another strategy to implement are how-to videos. These types of videos are a powerful tool for providing solutions to common problems. When your customers can find answers to their questions through your videos, it not only improves their experience but also enhances brand trust and loyalty. This segues into the benefit of leveraging video content, it can address straightforward inquiries which allows your customer success teams to allocate more time and resources to tackling complex issues, ultimately improving overall customer satisfaction.

Make a Lasting Impression

In the world of video marketing, success hinges on the ability to measure and interpret a diverse range of metrics. To unlock the full potential of your video marketing efforts, it’s essential to align your metrics with the video’s purpose and goals. By leveraging data-driven insights, you can continuously optimize your video content and, in turn, enhance your overall marketing strategies. Whether it’s paid ads, website videos, or funnel performance, the key to success lies in the numbers, and to be a smart marketer, you must know how to use them to their advantage.