Realizing a Return on Your Video Investment
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Phil Nottingham looks at the problems around video ROI and proposed a framework for better video measurement and strategy. This talk was originally delivered at the Growth Marketing Conference in San Francisco, 12th December 2018
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Realizing a Return on Your Video Investment
- 1. Title goes here Text goes here. What do you have to say? Say it here! With this layout, you can have a nice feature image to delight it up. Realizing a Return on Your Video Investment Phil Nottingham12th December 2018 Growth Marketing Conference
- 2. Title goes here Text goes here. What do you have to say? Say it here! With this layout, you can have a nice feature image to delight it up. @philnottingham
- 3. “Why aren’t you all making more videos?” RHETORICAL QUESTION
- 4. Probably because bad measurement leads to bad strategy and execution
- 5. B2C
- 6. B2C teams approach online video as if it’s TV Creative agency develops compelling campaign idea Judge success according to reach and brand recall Media planners distribute content to maximise reach 1 32
- 8. Measure Success By Number of Views
- 11. A view is just… Status: HTTP/1.1 200 OK
- 12. What we think we’re solving for What we’re really solving for What we should be measuring Brand awareness Page loads on social media Genuine engagement
- 13. B2B
- 14. B2B teams only invest when there’s guaranteed return Create one or two videos with a small budget Invest further if ROI positive Calculate ROI 1 3 2
- 15. (Gain from investment - Cost of investment) Cost of investment ROI =
- 16. #WistiaFest / @philnottingham It’s like Measuring all Players by the Goals they score
- 17. What we think we’re solving for What we’re really solving for What we should be measuring Efficiency and efficacy of spend Conversions Meaningful interactions
- 18. B2C • Determination to compare online video investment to TV • Metrics under report on value by being too far removed from bottom line Flaws in video measurement B2B • Determination to tie dollar amount to creative in advance of investment • Metrics under report on value by being too focused on bottom line
- 19. 2. Work out what to create1. Measure the right things 3. Distribute and optimise How to win in a video-based world
- 20. Minimum Viable Conversion SMALLEST MEASURABLE NEXT STEP
- 21. Set Minimum Viable Conversions By Funnel Position AWARENESS CONSIDERATION CONVERSION Engaged view (50%+) Share Like Referral Email Submission Subscription Assisted Conversions View-Through Conversions
- 22. All Marketing Channels are Video Platforms
- 23. Measure Impact of Overall Video Strategy Total Watch Time Viewer Segment Goal Conversion Rate BRAND FUNNEL
- 26. 2. Work out what to create1. Measure the right things 3. Distribute and optimise How to win in a video-based world Define a minimum viable conversion for each video relative to the goal and platform Measure overall impact in terms of content consumption
- 27. Active Browsing Passive Browsing Restricted Media Type Fluid Media Type Website
- 29. Platform First 1. Work out where your target audience are active 2. Choose the platforms to focus on
- 30. Purpose Goal Audience Platform Subject Theme Format Hook Distribution MVC KPI Why you exist? (Cultural Tension + Best Self) What are you trying to achieve? Who are you trying to reach? Where can you reach them? What can you meaningfully talk about? What is the one thing this shows? What sort of content will you create? Why will anyone care? How can you amplify the content to your target audience? What’s the smallest measurable engagement at each stage? What’s a good proxy to measure the MVC? Goal Driven Content Strategy Framework CampaignContent
- 31. Platform Qualification Questions • Is your target audience there, engaging with content relevant to your offering? • Can you communicate meaningfully in the prescribed media format?
- 32. Platform First 1. Work out where your target audience are active 2. Choose the platforms to focus on 3. Create content for the platform
- 35. The Most Popular Content on YouTube is Music
- 36. Video = Aural + Visual
- 37. YouTube = Aural+ Visual
- 38. 1
- 40. Video = Aural + Visual
- 41. Facebook = VISUAL+ Aural
- 44. Use a rank tracking tool to tell you which of your pages should have videos on them
- 46. Queries likely to return video-based results •“How to..” • “Watch…” •“How do…” •“Make…” •“What is…” •“What should…” •“Demonstration of…”
- 48. Platform First 1. Work out where your target audience are active 2. Choose the platforms to focus on 3. Create content for the platform 4. Drive towards deep engagement on owned platforms
- 49. Avoid digital sharecropping by building a platform of your own, rather than just relying on social media for distribution
- 51. TV Market in 2010 • Have to be on big media platforms to get viewers. • Recommendations happening via word of mouth, in silos. • User experience littered with ads. TV Market in 2018 • Can get eyeballs via any platform • Providers act as a recommendations engine • User experience optimised for consumption
- 53. Netflix moved from a content provider to a media platform
- 54. “Are you really saying we all need to become Netflix?” SOMEONE IN THE AUDIENCE
- 56. If you own the distribution channel, you own the audience
- 57. How to become the Netflix of your industry 1. Provide a better viewing experience than the social media platforms 2. Create original, TV quality content
- 62. Use social media to market, not just redistribute original series content
- 64. 2. Work out what to create1. Measure the right things 3. Distribute and optimise How to win in a video-based world Define a minimum viable conversion for each video relative to the goal and platform Measure overall impact in terms of content consumption Think platform first to engage your audience in a way that resonates. Invest in original series to secure your brand for the long term
- 65. YouTube Has A Skip-Ad Button
- 67. Facebook Also Has A Skip-Ad Button
- 69. “The number of impressions is not the number of people impressed”
- 70. “The number of likes is not the number of people who like it”
- 73. “How much does production quality matter in video advertising?” SOMEONE IN THE AUDIENCE
- 76. Budget: $10,000 Camera: Canon C300
- 77. Budget: $100,000 Camera: Arri Amira
- 78. Production Budget $1K $10K $100K Cost Per Install $12.82 $6.66 $10.87 Cost Per 25% View $0.37 $0.36 $0.43
- 79. Title goes here Text goes here. What do you have to say? Say it here! With this layout, you can have a nice feature image to delight it up. “Creativity is the last unfair advantage we're legally allowed to take over our competitors” BILL BERNBACH
- 80. Split test the most important variable in video distribution - the video itself
- 83. Optimize Creative Elements Like Meta Elements
- 84. Title Text Body Level One Body Level Two Body Level Three Body Level Four
- 86. “Think of Your Thumbnails like Movie Posters” KIEL DEVALERA
- 87. Use playlists to rank for terms you don’t have videos for
- 88. NBED DR Dre beats at screenshot
- 89. 2. Work out what to create1. Measure the right things 3. Distribute and optimise How to win in a video-based world Define a minimum viable conversion for each video relative to the goal and platform Measure overall impact in terms of content consumption Think platform first to engage your audience in a way that resonates. Invest in original series to secure your brand for the long term Split test creative to find a narrative and structure that resonates Optimize thumbnails to maximise play rates
- 90. Budget Target Audience 1 person A few people Active leads Entire target market Everything Pre 2005
- 91. Budget Target Audience 1 person A few people Active leads Entire target market In-House Agency
- 92. Budget Target Audience 1 person A few people Active leads Entire target market In-House Agency Start Here
- 93. THINK BIG
- 94. START SMALL
- 95. We’ve built the best tool for starting small