In today’s digital world, video is a must-have for businesses. It’s an essential tool to engage audiences, build brand awareness and drive conversions. But great videos don’t come free. We know you have a budget in mind and you want to maximize the return on your investment (ROI). Here we’ll talk about how to optimize your ROI throughout the production of a video, using case studies from Indian brands as examples.
Getting to know video production ROI
Picture this: your boss walks up to you one day and asks why you’re focusing on content. It’s a good question. Before we dive into the different strategies to maximize your return on investment, it’s worth addressing why measuring and optimizing that return is so critical.
More than Just a Fad
Video as a medium has exploded over the past decade, with studies showing that people are more likely to engage with and share this type of content when compared to others. Cisco predicts that by 2022, video traffic will make up 82% of all internet traffic. It’s hard to argue against the numbers – if you want your marketing strategy to be relevant and competitive, it needs to involve video.
Dollars & Sense
Creating high-quality videos requires expertise, which can come with a hefty price tag. From planning out pre-production details to finalizing post-production editing, costs pile up quickly along the way. The last thing any business wants is to waste money on something that isn’t driving results.
Measuring Impact – Where Data Comes In
There are countless ways for marketers to measure success nowadays; views, engagement rates, lead generation and conversions just scratch the surface. All these metrics help determine if what you’re doing is actually working or not. By keeping an eye on these things from the start, you can make data-driven decisions later down the road when trying to maximize your ROI.
Step 1 – Define Your Video Production Goals and Objectives
Step one in getting the most out of your video production ROI is being clear about what you want and how to get it. This will make it easier for you to create targeted content that aligns with your business objectives and interests the people you’d like to reach.
Being familiar with your target audience is a must.
The contents of your video are meant to attract attention. To do that, however, you need some level of understanding about what those who are watching want to see. You could start by doing some research into their demographics, psychographics, pain points, and content preferences. Once you have this information, you’ll be able to create content that addresses their needs.
Make sure your business objectives are on track with the content you produce
Whatever goal it is that you’re trying to achieve, all of your videos should help. Whether it’s driving sales or generating leads, every single one should have purpose and a call-to-action that’s aligned with these goals.
Measure your efforts carefully and set goals based on accurate information
If knowing whether something was successful or not requires an incomplete measurement standard then more than likely it’ll end up being ineffective. Accurately measuring anything often starts with setting specific goals. By using the SMART method (specific, measurable, achievable, relevant and time-bound) we can determine whether our actions were worthwhile or not. For instance, instead of hoping “increase brand awareness” works out for us, let’s just make a goal like “get 100k views on brand video within the first month after release.”
Step 2 – Develop a Comprehensive Video Production Strategy
Once you have defined your goals and objectives, the next step is to develop a comprehensive video production strategy that outlines the types of videos you will create, the distribution channels you will use, and the resources you will allocate.
Determine the types of videos to create.
There are various types of videos you can create, each serving a different purpose and catering to different stages of the customer journey. Some common types of videos include:
- Brand videos: These videos showcase your brand’s story, values, and unique selling proposition.
- Product videos: These videos highlight the features and benefits of your products or services.
- Explainer videos: These videos break down complex concepts or processes into easy-to-understand segments.
- Testimonial videos: These videos feature satisfied customers sharing their positive experiences with your brand.
- Educational videos: These videos provide valuable information or insights related to your industry or niche.
Consider creating a mix of these video types to cater to different audience needs and objectives.
Search for distribution channels
Look for the best route to distribute your videos. If you want to get the most out of your content, you need to put it in the right place. Use different social media platforms such as YouTube, Facebook, Instagram and LinkedIn. Also make use of email marketing campaigns and paid ads on websites.
Divide Resources
Videos are created through a lengthy process that is demanding in terms of time, money and resources. Create a budget that will leave enough funds for pre-production (scripting, storyboarding, casting), production (filming, equipment rental) and post-production (editing, graphics, sound design). Take into account all the human resources needed as well — whether they’re in-house or external agencies and freelancers.
Step 3 – Optimize Your Video Content for Engagement and Conversions
Now, to maximize your ROI, you have to optimize your video content for engagement and conversions. This means making sure the content really speaks to your target audience so they’ll do what you want them to do.
Create engaging content.
To create compelling videos, focus on storytelling, emotional connection, and visual appeal. Combine visuals, audio, and text creatively but effectively in order to deliver a message that is educational and entertaining. The goal is to give people value while having fun with it!
Focus on SEO
If you want your videos to be seen by more people, you’ve got to optimize them for search engines. Use keywords in titles, descriptions, tags, all that stuff. You can also make transcripts of the videos and include closed captions so people who can’t hear them can still understand what’s going on.
Use clear calls-to-action
Of course we all want people watching our videos to do something after they’re finished watching them. To make sure this happens though you need clear and compelling calls-to-action (CTAs). A CTA could be something like “go visit our website,” or “sign up for our newsletter.” Put these CTAs in multiple places throughout each video. Make ‘em big too! We want viewers seeing it loud and clear!
Step 4 – Measure and Analyze Video Performance
To continually optimize your video production ROI, it is crucial to regularly measure and analyze the performance of your video content. This involves tracking key metrics and using data-driven insights to make informed decisions.
Track key metrics
Some key metrics to track include:
- Views: The total number of people who have viewed your video.
- Watch time: the total amount of time viewers have spent watching your video.
- Engagement: likes, comments, shares, and other interactions with your video.
- Click-through rate (CTR): The percentage of viewers who click on your CTAs.
- Conversion rate: the percentage of viewers who take desired actions, such as making a purchase or signing up for a newsletter.
Use analytics tools provided by your distribution channels (such as YouTube Analytics or Facebook Insights) to track these metrics and monitor the performance of your videos over time.
Analyze and optimize
Regularly analyze the data gathered from your video performance metrics to identify areas for improvement. Use these insights to optimize your video content, distribution strategy, and calls-to-action. Continuously test and refine your approach to maximize engagement and conversions.
Indian Brands and Case Studies
Now, let’s take a look at some Indian brands that have successfully maximized their video production ROI through effective strategies and compelling content.
Case Study 1 – Amazon India’s “Apni Dukaan” Campaign
Amazon India launched the “Apni Dukaan” (My Shop) campaign in 2020 to promote its platform as a convenient and reliable destination for online shopping. The campaign featured a series of videos showcasing how Amazon India connects customers with sellers from across the country, supporting local businesses and artisans.
One video from the campaign tells the story of a young woman who starts her own online business selling handmade jewelry on Amazon India. The inspiring video resonated with viewers, highlighting the platform’s role in empowering entrepreneurs and supporting small businesses. The campaign successfully positioned Amazon India as a brand that values its sellers and contributes to their growth and success.
Case Study 2 – Dove’s “Stop The Beauty Test” Campaign
In 2021, Dove launched the “Stop The Beauty Test” campaign in India to challenge societal beauty standards and promote self-acceptance. The campaign featured a powerful video that highlighted the unrealistic and often harmful beauty expectations imposed on women during arranged marriages.
The thought-provoking video struck a chord with viewers, sparking conversations about the need for change in societal norms. The campaign received widespread praise for its bold message and emotional impact, generating high engagement rates and media coverage. Dove successfully positioned itself as a brand that advocates for women’s empowerment and self-esteem, enhancing brand loyalty and affinity among its target audience.
Case Study 3 – Swiggy’s “The Gulab Jamun Conspiracy” Video
Swiggy, another popular food delivery platform in India, released a video titled “The Gulab Jamun Conspiracy” in 2019. The video features a humorous conspiracy theory about the origin of gulab jamuns, a beloved Indian dessert.
The video’s lighthearted humor and relatable content struck a chord with viewers, leading to high engagement rates and social media shares. The campaign successfully positioned Swiggy as a brand that understands and celebrates Indian food culture, enhancing brand affinity and loyalty.
Case Study 4 – Ariel’s “#ShareTheLoad” Campaign
In 2015, Ariel, a leading detergent brand in India, launched the “#ShareTheLoad” campaign to promote gender equality and challenge traditional gender roles in household chores. The video features a father’s emotional realization of the unequal division of household work between his daughter and son-in-law.
The thought-provoking video resonated with viewers, sparking conversations about gender roles and equality. The campaign received widespread acclaim, with over 50 million views and extensive media coverage. Ariel successfully positioned itself as a socially conscious brand, enhancing brand loyalty and affinity among its target audience.
Case Study 5 – Tata Tea’s “Jaago Re” Campaign
Tata Tea, a prominent tea brand in India, launched the “Jaago Re” (Wake Up) campaign in 2008 to encourage social and political awareness among the youth. The campaign featured a series of videos addressing various social issues, such as corruption, women’s empowerment, and voting rights.
The thought-provoking videos struck a chord with the target audience, generating widespread discussions and media coverage. The campaign successfully positioned Tata Tea as a socially responsible brand, enhancing brand loyalty and affinity among socially conscious consumers.
Conclusion
Amplifying ROI in video production is more than just a reel. It’s about creating content that’s engaging, converting and continuously refining it. In this step-by-step guide, you’ll learn how to achieve your business objectives through the power of video content. Plus! See firsthand the success stories of Indian brands that used this approach.
Remember, keep your audience in mind, align content with goals, and use insights from data to continue iterating. By doing so, not only will you have videos that captivate and engage — but they’ll also contribute where it matters most; your bottom line.