Corporate videos can be a powerful tool for connecting with audiences and increasing brand awareness among potential customers. How can that be measured, though? It’s an important question for marketers and anyone else considering a corporate video. Fortunately, there’s an answer.
Working with a professional videography company ensures that your company will get the highest-quality video, which will engage your target audience and increase brand awareness. Our clients see a great ROI, and here’s how they know it:
Calculating the ROI of Your Corporate Video
Your return on investment will ultimately be a measure of how much you spent on your corporate video compared to how much you earned. How can that be measured?
The classic ROI formula is: ROI = (Net Profit / Cost of Investment) × 100. This provides you with a percentage that shows how much profit you earned.
Of course, brand awareness can’t always be fully calculated by monetary value, as increased follower counts, engagement, and educating people about what your company represents are all highly valuable to companies.
But it’s important to know how to calculate video ROI, as it can inform decisions about further corporate video production by telling you what’s working.
What You Gain with Corporate Videos
Professionals know how to tie a story into the video so that it resonates better with the target audience. It’s not just about pointing a camera. There are technical aspects that, when used correctly, help advance the video’s message.
Corporate videos are an opportunity for you to tell your company’s story, connect with your audience, and introduce the world to new products and services—among many other things.
They can be a powerful tool for engagement, with studies showing that 84% of people say a brand’s video has convinced them to buy a product or service. With that in mind, there are a few key areas where your company can gain by producing one:
- Sales: Simply by informing potential customers about new products and services in an engaging way with a great corporate video, which can translate directly into sales increases.
- Increased Following: Building a community around your company is a great way to drive engagement, sales, and connect with loyal customers. Corporate video content can increase subscribers on social media channels, making them easier to connect with directly.
- Brand awareness: A corporate video can increase brand awareness by communicating what your company stands for and its identity.
The Cost of Corporate Videos
There are, of course, costs that are associated with corporate videos, and they need to be factored in when you’re calculating the return on investment of producing one. Costs can include:
- Production costs: From storyboarding to shooting and editing, there are production costs associated with creating an effective and professional corporate video.
- Distribution costs: You’ll want your video to connect with your audience, so whether it’s paid promotion on social media, money spent on broadcasting your corporate video on television, or elsewhere, distribution costs need to be considered.
- Time spent by employees: While working with a video production company means that much of the production work will be done externally, your company’s employees will still need to do some work in organizing and planning for your video.
How Corporate Videos Increase Brand Awareness
Corporate videos make it easy for audiences to engage with your company and its content. That increases your company’s visibility and reach, which can have substantial positive impacts on your business.
Brand awareness is a vital part of company growth, and you can’t just rely on word-of-mouth. A well-done and engaging corporate video connects with audiences and ensures they understand what your company does, who you are, and why they should care.
By boosting online engagement, corporate videos can help not only increase sales in the short term but also create long-lasting relationships with engaged customers.
How to Improve the ROI of Your Corporate Videos
- Set Clearly Defined Goals
There’s a lot that a corporate video can accomplish, but it probably won’t be able to be everything to everyone. It’s vital that before you begin the process of producing a video, you define what you’re looking to achieve, such as:
- Boosting brand awareness
- Launching new products
- Building your subscribers on social media
- Establishing brand values
- Increasing sales
Knowing what you’re looking to accomplish with your corporate video will not only dictate the final product’s appearance, but it will also help you track data more effectively, allowing you to determine whether it’s meeting your goals.
- Identify Your Audience & What They’re Looking For
You’ll want your corporate video to provide real value for your audience. To do that, you need to understand what it finds interesting and engaging.
Whether it’s quirky social media content, informative corporate videos that provide insight into who your company is and what it does, or anything else, determining who your audience is and what they’re looking for will inform the direction of your video and its ROI.
- Develop a Distribution Strategy
Where your audience will see your corporate video is important and will affect its ROI. Corporate videos for social media will look different from those that are meant to be viewed on a big screen before a movie, for example.
Identifying your audience will help you develop a distribution strategy, as it will show you where your audience spends time and which platforms are best for connecting with them. Maybe that’s YouTube, Instagram, TikTok, Facebook, or Television advertising.
How will you ensure your video is shared and engaged with on those platforms?
The goal is for your video to be watched and engaged with, so ensuring you have a distribution strategy that puts your corporate video in front of the right audience is essential.
- Work with a Professional Videography Company
The best ideas for corporate videos still require a professional team to create a great final product, so it’s important to work with an experienced videography company that can bring your vision to life.
There are a few key questions to ask when choosing a video production company:
- What’s in their portfolio, and have they made similar corporate videos to the one you’re trying to make?
- What are their timelines for production?
- What is their policy on edits?
- What’s included in the cost of producing your corporate video?
- Track What’s Working
There are many different metrics for measuring the success of your corporate video, and it’s essential to track them so you can determine whether you’re connecting with your audience.
You can monitor whether your corporate video is meeting its goals and, ultimately, providing a solid ROI in real-time, using metrics such as engagement (likes, shares, and comments), click-throughs, views, or website traffic.
Create Corporate Videos with Great ROI
A professional corporate video can work wonders for increasing brand awareness and provide an incredible return on investment. When considering corporate video production, it’s essential to pick the right company to work with so that the final product meets your goals and is delivered on time and on budget.
At Studio Spero, our professional production team will work with your company to understand your story, your goals, and every detail of what you want from your corporate video. Then, we’ll work diligently to deliver a final cut that surpasses your expectations.
If you’re looking for a creative, professional, and standout corporate video, fill out our contact form or call us at (403) 837-9588.