Corporate videos are common use today and play a crucial role in many presentations delivering messages and launching a new idea or a business. Although it has significant advantages, the main challenge is determining its return on investment ROI. This is because corporate videos can potentially be very expensive but hard to measure as there is no proper platform to present them with a great tracking analytics system. Today the common tracking analytic system that is being used is of the common social media platforms such as Facebook, Instagram, LinkedIn and many more. But corporate videos are commonly represented face-to-face to an audience. Here are some methods that we can explore on the strategies for business-to-business that can measure their return on investment of the corporate videos.
A Clear Objective
Before getting into ways to measure a great return on investment it is very important to establish an absolutely crystal clear objective for each video that’s been presented, each objective must have a clearly intended goal that is defined and very specific if the goal is not specific enough the idea of tracking or identifying the return of investment gets harder and harder. Whether it’s to educate employees about new processes and methods or influence potential clients to make a specific investment decision or present a brand’s product and services, a well-defined purpose sets a great opening and meaningful evaluation.
This process involves collaborating between the company and the agency or production team to ensure clear and aligned goals between everyone and allows the team to customise its video theme style and treatment accordingly. For example, if the objective is to give good educational content to the employees to work more efficiently on a particular machinery creative team will start to track the targeted potential employees and before-and-after response perhaps by time perhaps by if it’s efficiency or perhaps by the retention rate on a turn-around rate of employment. This conversion rate allows a company to know the response of the video’s return of the video’s investment one way or the other just by simply setting a clear and defined objective.
Feedbacks are a great source of data when measuring the return yield of corporate video production. These can be a form of question and answers by a form or a Q&A session. Allowing quantitative metrics to be measured right at your presentation moment. In this case, as feedback is being presented after the video has been shown these can be considered as a data being remarked, with more data equal to more feedback which will allow you to have a larger number on the statistic and better survey options.
This process should be conducted right immediately after the video is presented to enable attendees to provide real-time feedback as this is just newly presented therefore the memories are fresh, and their ideas are genuine ideas on the forefront of their minds. The questions however should focus on the clarity of the video effectiveness of the message delivery and how much influence a video has upon the decision-making at all. The questions also can be used to enquire about the alignment and goals of the company and the viewers. If it is not then steps and actions can be taken on a management level.
During a video presentation, measuring the audience’s engagement during its presentation about the content of the video and seeing if it captures the attention and interest of the audience is one of the ways to measure its impact. This metric can be done by analysing the questions being asked during the presentation, monitoring discussions after the video has been presented among the attendees, and various social listening tools can be used to assess if there is an online response. If it is an offline response teams may dispatch around key areas to actively listen and to discuss with fellow audiences. Audiences who are engaged in the topics of the video are likely to return with the information and act accordingly. Resulting in a successful corporate video. Therefore we should aim to captivate audiences and lead them into a desired action.
In summary, measuring the return on investment of a corporate video presented in meetings or a physical setting requires a multifaceted methodology to consider the digital quantitative and physical quantitative data. This can only be achieved by a clearly defined objective, gathering great and distinctive feedback, analysing and assessing the engagement throughout the event or if it’s an online setting then it will be an online digital assessment and engagement impact analysis that the video has according to the audiences, ideally to make a more desired action towards your video. Understanding these strategies and methodology may prove to be a powerful tool in optimising the videos that are meant by your company.