“What ROI can I expect from my video?” This is your most important question. If video doesn’t somehow — directly or indirectly — earn you more dollars than you spent, it wasn’t worth it, right?
Here’s the problem: the ROI of video is different in every video. For example, the return of a pre-roll is completely different from a welcome video on a homepage. Two similar videos might get very different returns based on the company’s audience and product. Many videos aren’t even sales-focused. Take Adobe, for example.
Adobe has a massive amount of video content, both on their YouTube channel as well as a large library of tutorials on their site. I think their content is useful and engaging. It increases my affinity for their brand. But I haven’t bought any of their products. Did I contribute to their ROI? Is it worth it for them to have this content?
It might seem frustrating to any rational, value-driven person. Why bother with video if it’s so hard to measure? Why hasn’t this article just told you what ROI percentage to expect so you can tell your boss, gosh-darn-it?
Flat out, we can’t tell you what ROI to expect. Doing so would be like a Hollywood executive claiming their new movie is going to make millions without knowing the title, script, actors or distribution plan. There is no standard answer.
However, what we can say with 100% certainty is how powerful video is as a medium.
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Video boosts engagement
Time and again, video has proven to be an excellent engagement tool.
- 60% of site visitors watch a video before reading any text. (source)
- 59% of senior executives prefer video over text. (source)
- 88% of visitors stay longer and purchase more on sites with video content. (source)
- 46% of shoppers seek additional information on a product after watching a video. (source)
Everyone is doing video
Online video is becoming an industry norm. If you don’t have it now, you’re already behind.
- 76% of B2B companies use video content in their marketing. (source)
- 93% of marketers used video for online marketing in 2013. (source)
While there’s no good answer for what kind of ROI you’ll get with video, there are good answers for why you need to use it. It increases engagement. It’s what people want to see. It’s what everyone expects. It’s not the future; it’s now.