And The Survey Says?!...
A recent Storyboard Media Group survey conducted with the cooperation of over 200 senior marketing professionals revealed that obtaining the proper budget for corporate video prouduction is one of the biggest challenges that they face in terms of executing on video marketing content. Because of this, it's incredibly important to know how to track video ROI and make sure you're not wasting your money. Companies should always be aware of their returns on any marketing content. But as online video continues to become more and more important and competitive, corporate video production is one area companies should and can track their investments.
Here's How They Did It- Malo Smiles
One of our clients, Malo Smiles, took several unique approaches to tracking return on their corporate video production investment in a 30-second television commercial that was shown in NYC, NJ, and CT.
First, they tracked their video ROI by using a unique phone number as a Call To Action that was only associated with the TV commercial - a number that wasn't in use in any other marketing materials. Additionally, they tracked incoming website inquiries via a checkbox on their "Contact Us" form which included "TV Commercial" as a response. Finally, they asked every potential customer who called via telephone how they discovered Malo's services. Turns out, the television commercial was driving traffic.
A representative from Malo Smiles indicated that "MALO Smiles has been experiencing an amazing impact from our TV campaign. The average number of leads has grown to a multiple of what it used to be before this campaign."
Our client also attributed the design of the commercial to the increase in leads that were being generated as a result of the campaign. He went on to say that, "Our commercial has a clear call to action in terms of attracting people to our website or calling the unique phone number we provide. All new leads are asked how they first heard about MALO. This allows us to assess the campaign effectiveness on an almost real-time basis."
Corporate Video Production As One Part of Marketing Strategy
MALO Smiles indicated that television commercials and similar types of promo video channels still required a bit of fine-tuning before they could achieve their maximum level of effectiveness. Once that maximum video ROI is achieved, however, it is more than worth the effort. "Once you find a channel/day part combination that is a really good fit to your target audience, TV turns out to be a cost-effective medium. Combining TV with other media, such as digital marketing or outdoor advertising, definitely adds power to a campaign."
It's important to note, however, that no two organizations are created equally. Because there are so many different ways to track video ROI, it will take a certain degree of experimentation to find out which approach to corporate video production works best for you. That type of approach is exactly what Storyboard Media Group is known for in the New York City and New Jersey area.