20 Aug 2018

The DL on Video ROI for Mortgage Marketing

Why Video Is the Not-So-Secret Weapon You Should Be Using Like, Yesterday

video roiWhen was the last time you watched some form of video online? Was it a 30-second recipe auto play on Instagram? A pop-up ad on your local news site? A YouTube link your kid texted you? In just a handful of years, we’ve gone from online videos being an expensive novelty to the hottest thing since LOL cats. These days, everyone’s using video for every reason…how-to tutorials, product reviews, advertisements and, most importantly for you reading this article, marketing everything from tires to travel to home mortgages.

If you’re not already using video in your acquisition marketing campaigns, chances are you’ve thought about it or been asked to consider it. After all, everyone’s using it…and for good reason.
The Compelling Stats

  • 87% of online marketers use video content, and 76.5% of companies who’ve used video in their marketing say it’s had a direct impact on their business. 1
  • 51% of marketing professionals worldwide name video as the type of content with the best ROI. 2
  • Marketers who use video grow revenue 49% faster than non-video users.
  • Sixty-four percent of consumers make a purchase after watching branded social videos. 3
  • 59% of executives agree that if both text and video are available on the same topic, they are more likely to choose video.
  • Of those with videos on-site, 80% of marketers say video has increased dwell time. 4
  • Viewers retain 95% of a message after watching it in a video, compared to 10% when reading it in text. 5
  • 97% of video marketers reported that video increased user understanding of a product or service, and 76% reported video helped them increase sales. 6
  • 90% of users report that product videos are helpful in the decision process of the buyer’s journey. 7
  • 46% of users act after viewing a video ad. 8
  • When users enjoy video ads, their purchase intent is increased by 97%. 9
  • 84% of consumers surveyed were convinced to buy a product or service after watching a brand’s video. 10
  • Emails with video content lead to an increase in click-through rate (CTR) of 200-300%. 11
  • Including video thumbnails instead of images in your email can increase clicks by over 21%. 12
  • Including a video on your landing page can increase conversions by more than 80%. 13

Put that all together, and it’s hard to see why anyone wouldn’t use video in their marketing campaign. But, as with any type of content marketing, there’s a right way and a wrong way to do it…and it’s oh, so easy to spend a lot of time and money creating content that just doesn’t work.


Deconstructing ROI for Video

As marketers, we all know that everything comes down to the all-important ROI, or Return On Investment. Although video has become cheaper and cheaper every year to produce, it’s still time consuming and a little more in-depth than just doing a point-and-shoot with your iPhone. We’re all tasked with doing less with more, and so above all, a video campaign needs to prove its worth by views, click throughs and most importantly, conversions.

But what does that look like, really? To answer that question, you first need to answer what type of ROI you’re measuring: absolute, relative or attribution modeling.

  • Absolute ROI
    This metric is used when you’re doing a standalone video marketing campaign. This model allows you to track metrics such as cost per download, cost per purchase, cost per subscriber and the like.
  • Relative ROI
    This type of ROI focuses on your video campaign’s performance compared to your aspects of media spend. So, for example, you can compare a YouTube campaign to your TV advertising campaign, so you can see what platform is giving you the best bang for your buck.
  • Attribution Modeling
    This metric is the gold standard of ROI measuring and it’s also the most time-intensive and difficult to track. Attribution modeling measures your video’s impact on every platform you use, plus throwing in an analysis of how it’s performing at each stage of your buying or sales funnel.

Guess which one of these ROI models gives you the most data and is the most helpful when it comes to a lead generation campaign? You guessed it: attribution modeling. However, it’s complicated and expensive for a business to do on their own.

And that’s where SoftVu swoops in to the rescue.


How SoftVu Measures (And Helps Improve) ROI

Not to brag, but we’ve been helping our clients integrate video into their lead generation campaigns long before it was the hip, cool thing to do. A growing number of our clients use video in their campaigns…and have seen some pretty awesome success. Need more proof? Check this out:

SoftVu continuously conducts A/B and multi-variate tests in search of ways to improve client email performance. Recently, we tested the efficacy of video in email. With the support of 5 clients, we sent emails to leads with and without videos. Emails with a video performed significantly better. Two clients achieved more than 2X the desired call to action (CTA) on re-click when a video was included in the message.

Client

No Video

Video

Percentage Change

One

24.14%

42.37%

33.25%

Two

29.45%

89.67%

59.56%

Three

31.40%

73.29%

52.34%

Four

42.86%

55.56%

49.21%

Five

22.14%

42.90%

34.92%

Average

26.27%

49.73%

39.53%


SoftVu’s Top Tips for Getting You a Higher ROI For Your Videos:

  1. Know what purpose each video is serving. Are you trying to educate? Entertain? Spur an action? The most successful videos are ones that have a clear purpose and aren’t just there to add visual interest.
  2. Understand your distribution method. A video on a landing page is a lot different than a video in an email or a video on YouTube. Don’t worry–we got you on this one, and we’ll help tailor the message to make it work as hard as possible. 🙂
  3. Analyze, analyze, analyze… Launching the video is just the first step. Then we swing into action and track those babies across the internet-sphere, capturing click throughs, how long viewers watch your videos, the percentage of folks who watch the entire video, which videos are working the best, etc. We can even do some sweet A/B testing right out the gate, so we can figure out right away what messages are resonating best with your audience.
  4. …and adjust, adjust, adjust. One of the coolest things about a video campaign–well, a SoftVu campaign in general–is our ability to make adjustments in real time as we see what’s working and what isn’t. We can change out videos, when it’s delivered, use new subject lines, and work our wizardry to make sure every aspect is hitting it out of the park. And of course, we’ll keep you posted all along the way with awesome reports so you always are clued in to how everything’s performing.

If you’re ready to get your ROI rocketing and your video streaming, contact SoftVu today! We’ll work together to figure out how video can work with your new or existing campaign and start getting those pixels activated.

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