Q: We’d like to start video ad production for a number of our online businesses.
But we don’t know how effective a video ad is.
And we know almost nothing about video production.
Can you help?
A: A short web video production can bring success through improved click through rates, but until you measure that success you’ll never know whether a video ad represents a good investment for your business or not. And this applies no matter which industry, business or commercial category you’re in.
So this final installment to this 5-part online seminar is called Measuring your video ad results to plot success
But before we look at this, those of you who are interested to learn more about company video, filming, production and similar, please take a look at our resources section
Got that? Right, back to video ad production, and how to make a difference.
Let’s start with an interesting fact: Did you know that on average, Studio Rossiter customers order at least two Video Ads, and sometimes more (which is why we offer 4 Video Ads for the price of 3)
This data alone provides clear support for using internet video to better monetise web pages. What we actually see in practice is customers ordering more because they want to promote their other product or service areas in their website.
Deciding if & when to increase video ad production shouldn’t be a guessing game.
It’s crucial to know precisely how well your Video Ad is performing as a business driver, as a click-through tool, as a “customer engager”. Anything less is amateur.
Likewise for brand memorability. This is not your aim. Brand matters, but not as much as winning more click-throughs.
For the relative beginner, there are two main professional approaches to doing this, which includes: The Rule of Thumb Approach and The Scientific Approach
The Rule of Thumb Approach
1 – Check your web statistics (free Google Analytics is fine for this) and see if your Completed Enquiry Form level has gone up since your Video Ad was implemented. To know this you need to keep a web log, dating major changes, like a video ad production. Then check and find out if you’ve got more leads, or more orders.
2 – If you get a lot of business through telephone calls, arrange for your sales order operatives ask callers “by the way, did you see our video?” This one quick question will give you the feedback you need. To do this consistently, you’ll need to explain the how & why of video ads to your telesales/order staff, or they’ll not do your research effectively.
The Scientific Approach
Fix your Bounce Rate
This gives you a more targeted approach for your video ad measurement.
Bounce Rate is the % of site visitors who arrive on a main incoming web page (such as home page or a landing page), view then quickly leave without going anywhere else. They bounce right out again.
Bounce Rate is obviously the first critical metric for website owners/managers or marketers, and especially so for the video ad user.
Google say that any landing page with a bounce rate of greater than 35% is a cause for concern. It means a page isn’t very effective. It’s losing you customers.
Google further say that if the bounce rate is over 50% then it’s serious, as the page is positively turning visitors away – repelling them (eek!)
They also say it’s unlikely that you’ll get your bounce rate lower than 20%.
You can see that Bounce Rate is the key metric for all your important incoming traffic web pages.
If you can reduce your bounce rate, you’ll be retaining more visitors, and it follows that you should be winning more orders or sales enquiries.
It follows that if you measure your Bounce Rates before and after your install your Video Ad, you’ll know have a strong indicator as to how well your video ad is performing for your business.
I’ll say it again so you van be sure: If your bounce rate reduces you can be fairly sure that your sales and enquiries will increase.
And you can also be fairly sure that your video ad production creates the the right impression, and is doing its job, ie, retaining visitors and promoting click throughs.
Seeing a reduction in your bounce rate will give you the confidence needed to produce a video ad for all your key landing and incoming pages.
This bounce rate measurement is a great metric – something TV networks and ad agencies can’t offer with television advertising. So take advantage of it and make it part of your business process.
The last reminder is that quality counts. The video ad must engage the viewer if it’s to work at all. So ensure yours is produced professionally, and avoid the “youtube” option. This doesn’t mean high prices. Selecting the right producer is all you need.
This concludes our 5 day seminar on video ad production – wishing you good luck.