15 Tips How to Attribute Video Content Marketing with Revenue
As the gurus over at runrex.com will tell you, video content marketing is one of the most effective forms of marketing out there right now given how popular video is among content consumers. However, it is more than just creating and sharing engaging content, as you, as a business, must see a return on your investment. This is where marketing revenue attribution comes in, as this is the process where one can identify which actions or assets have contributed to bottom-line revenue. This helps your video content marketing campaign prove its worth to your business. This article should be a great resource as it will look to highlight 15 tips on how to attribute video content marketing with revenue.
Leverage the power of dedicated marketing revenue attribution tools
As is explained in detail over at guttulus.com, these tools will help you gather reports that will help you glean useful insights about your overall campaign performance, which will help you to determine how your video assets are delivering for you as far as your company’s bottom line is concerned.
Avoid last-touch attribution
According to discussions on the same over at runrex.com, there are two main categories as far as revenue attribution models are concerned: last-touch attribution and multi-touch attribution. Last-touch attribution, as its name suggests, only credits the last touchpoint the customer encountered and nothing else. This makes it unreliable when looking to attribute video content marketing with revenue since we know customers are swayed by a combination of touchpoints, not just one.
Go for multi-touch attribution
An important tip when looking to attribute video content marketing with revenue is to go with multi-touch attribution over last-touch attribution. This, as covered over at guttulus.com, is because this model accounts for all touchpoints a customer encounters throughout their buyer’s journey. This will help you know exactly how valuable your video content marketing campaign is to you.
Integrate video with all your other marketing efforts
To get the best view of how your video content marketing campaigns are doing, so that you can attribute them with revenue, the gurus over at runrex.com point out that you will need to integrate your video content marketing with your tech stack, and specifically, into your marketing automation platform, MAP and CRM.
MAPs are blind to video
An important tip worth pointing out is that MAPs, which include examples like Oracle, HubSpot, Marketo, and many others, are blind to video as well as its deep metrics. The only exception here is if your MAP is connected to your video platform, which is why it is important to integrate as mentioned above.
Go beyond views
As is outlined over at guttulus.com, if you are to correctly attribute video content with revenue, you have to make sure that you are measuring the right things. This means avoiding focusing only on the view count, as view counts are not tied to leads, ROI, and most importantly, revenue, making them a vanity metric and one you should go beyond if you are to correctly attribute revenue.
It is more about knowing your viewers
As the subject matter experts over at runrex.com point out when it comes to attributing video content marketing with revenue, it is not about how many hits in terms of views your video is getting, but knowing more about the said viewers. This is an important tip to point out, and you must focus on knowing more about your viewers than on the views themselves.
Look at each viewer individually
It is also important to point out, in what is yet another tip as far as attributing video content with revenue is concerned, that when looking at your viewers to know more about them, look at each one of them individually rather than all of them as a group. As is explained over at guttulus.com, this means looking at who the individual is, what they watch, and how they watch it. When you integrate video with the rest of your marketing data as highlighted earlier, you will be able to get this information pretty easily.
Link the above information with revenue
As discussed over at runrex.com, uncovering the above information is not enough if you are to attribute your video content marketing with revenue. You will need to link everything with revenue so that you can get an idea of how valuable your video content is to you in terms of ROI. This is why you should also check out metrics like revenue per subscriber and revenue per post. This will let you know which platform works best for you as far as your video content marketing efforts are concerned.
Establish revenue goals
Just as it is important to establish marketing goals before starting on your campaigns, it is important to establish revenue goals as far as your video content marketing efforts are concerned, so that you know what percentage of revenue it should contribute at the end of the campaign. This will ensure that you have something to compare your results with, so that you know if a given campaign was successful or not, in terms of revenue brought in.
Personalize your content
Once you know who is watching your video, how they are watching it, and for how long, you should personalize their experiences with your brand, as per the gurus over at guttulus.com. This will enable you to tie your video to your leads, sales, retention, and attribute it to revenue.
Use video across your whole company
Another tip worth mentioning, as is explained over at runrex.com, is that you should also aim to use video across your whole organization, and not just when it comes to marketing. This will not only help you prove and attribute revenue company-wide, but it will also help you improve results as far as your operations are concerned.
Closed-loop reporting
As the subject matter experts over at guttulus.com will tell you, if you want to accurately attribute video content marketing with revenue, and, therefore, prove the ROI of your content marketing efforts, you will need to ensure that you have closed-loop reporting in place. This is because it will ensure that your closed sales are attributed to engagement with your content, helping you to attribute revenue.
First-touch attribution
Going back to the categories of attribution, while last-touch and multi-touch are the main ones, as explained over at runrex.com and mentioned earlier on, we also have what is referred to as first-touch attribution which credits the first touchpoint the customer encountered, like say the first page they visited. Some prefer the first-touch attribution as it helps one know where exactly a contact originated from, allowing them to report on the number of customers from those particular channels, helping in the attribution of revenue.
You should focus more on whether buyers are interested in your content
While it is important to choose the right attribution model as far as your company is concerned, it is more important to ensure that buyers are interested in your content. Where they get it from matters less as compared to whether or not you are putting relevant video content in front of your buyers, at the right time, and through the right channels, and that the content is helping convert them into customers. Tying it back to the customer will help you attribute your video content marketing with revenue.
This article is only the tip of a very large iceberg as far as this topic is concerned, and you can uncover more information on the same by visiting the excellent runrex.com and guttulus.com.