Measuring Your Success
To be a successful businessman or woman, you need to learn how to measure your success. If you do not do this, then your business may fail as you continue to use flawed video strategies.
Measuring your video strategies is essential so you can learn from mistakes and remove faltering videos that are harming and not helping your business. One of the more common ways to measure your success is by comparing your expenses against your revenues.
Keep reading to find out more ways to measure your user-generated video strategy success. These options will help you refine your strategies and get the best UGC video content available.
Tracking Your UGC Video Ads
There are several key components in seeing if your user-generated video strategy was a success or a failure. Here are some of those steps:
1. Check to see how many UGC video ads were entered
2. Calculate the total number of contest participants
3. Calculate the total number of new subscribers
4. Calculate the total number of new followers to your social media accounts
5. Calculate the total number of new customers your business has received via UGC video ads.
6. Calculate the total amount of expenses versus the total amount of new revenue received.
All of these figures will tell you whether you need to refine your user-generated video strategy or continue using the same types of UGC video to build your business.
The Importance Of Measuring Your UGC Video Content Success
There are very good reasons why you need to measure the performance of your UGC video ads. A good businessman or woman always knows the cost of doing business and measuring your video strategy’s performance is learning about those costs.
1. You Can Justify The Investment You Make- If your UGC video content strategy is a success, then your investment is worth it. The successful campaigns validate your strategy.
2. Identifies Good And Bad Videos- Measuring your UGC video content is a means of identifying which content is playing well with your target audience and which ones are not.
This identification helps you trim off the poor-performing UGC video content while allowing you to add more top-performing content.
3. Let You Refine Your Strategy- This aspect of measuring your success lets you align the UGC video ads with your goals while capitalizing on new trends and keeping you ahead of your competition.
Measuring The ROI Of Your User-Generated Video Content Strategy
To be able to monitor and check to see if your strategy is a success or is not performing as desired, you need to set up some measurable markers. These markers allow you to see which types of UGC videos are working, reaching your audience, and which ones are not.
1. Create Clear Objectives
These objectives have to be realistic and measurable. You get to decide which objective or objectives your UGC video ads need to target. For example, one objective could be brand awareness.
Another two would be to increase website traffic or create more conversions. Your objectives define the video content which determines your success or failure with this strategy.
2. Track Key Metrics
These key metrics are called key performance indicators or KPIs. You can use them to measure how successful your user-generated video content became. These metrics will help you decide if the UGC video platform you are using is working or not.
These KPIs will work when you put your UGC video on mobile or when they are seen on a PC, laptop or tablet. They include the following metrics:
The reach and engagement the types of UGC videos have gained. These two KPIs are seen through the click-through rate, comments, and shares your UGC video ads receive
Lead generation is also a top KPI to use to track the success of your UGC video ads. Tracking the number of new leads and conversions is a great way to see if your current strategy is working or not.
The frequency of brand mentions is another way to track your UGC video strategy
The best metric to use will be the comparison between the number of new sales these ads have generated and the increased revenue your business has received
Using The Right Tools To Track Your ROI
Tracking the success of your UGC video content takes using the best tools. Without these tools, your picture of your ROI may be blurred and not accurate.
1. Using The Best Analytic Platforms- There are plenty of options to choose between. These options range from Google Analytics, YouTube Analytics, Facebook Insights, LinkedIn Campaign Manager, and more.
2. Turn to social media monitoring tools to check your ROI. These tools include but are not limited to the following options- Brandwatch, Meltwater, Sprout Social, and Hootsuite.
3. Try CRM Systems when you want to learn about how well your UGC video ads created customer interactions and conversions. Some of these systems include- Salesforce, HubSpot, Zoho CRM, and Pipedrive
4. Then marketing attribution software takes your ROI tracking to the next level. Their focus is on being specific about which marketing strategy performed the best. You can try any one of the following to reach this tracking level- Google Analytics 360, Adobe Analytics, Mixpanel, and Heap.
These software options can be divided into single-touch or multi-touch which provides you with very specific marketing analysis.
Some Additional Words
Measuring the ROI when using your UGC video marketing strategy is not always an easy task. It is not for the novice and when you are not sure about how to track your ROI accurately, then give our company a call.
Our professionals know how to track your user-generated video strategies and they use those tools that provide accurate results. To get a good idea of how your strategy is performing, talk to our experts. They will guide you through this difficult task to ensure you get the right answer.
Contact us today so you can make the right UGC video ad decisions tomorrow.
