Prove the ROI of Your Video — WistiaFest 2016
June 6, 2016
Phil Nottingham regularly speaks around the world about video strategy and technical marketing. Prior to working at Wistia, Phil was a Senior Consultant at Distilled, where he became a renowned expert on video SEO and video marketing strategy. From a business perspective, Phil explains the three concepts in video marketing we often get confused.
The way we try to quantify the value of video tends to hamper our creativity. As marketers, we’re looking at metrics, key performance indicators, and return on investment all wrong. To briefly describe these terms, KPIs are the things we use to define success holistically, ROI is the attributable financial return, and metrics are simply things we can measure.
When we treat every single video metric like view counts, engagement, drop-off, play rate, or rewatches in isolation as a KPI, we start to confuse things. Metrics help up define and improve our strategy with video, but they don’t necessarily define success. As Phil said, “More numbers is not inherently more better.” This also applies to viral success.
Phil dives into understanding the universal KPI, which is “meaningful impression,” and ROI. Meaningful impressions move your audience in the direction of more money, and are measurable by checking emotional state changes and minimum viable conversions. ROI is measured by tying the KPI to financial peformance. Next, Phil shows how KPI and ROI change dramatically across YouTube, Facebook, and Wistia.
The main talk takeaways:
- Metrics are used to improve campaign performance
- KPIs are used as your main measure of success
- ROI is tracked to see opportunity for big investment
Watch Phil’s full presentation to learn all about how to measure video across YouTube, Facebook, and Wistia to achieve your business goals.