No matter how much – or how little – you spend on your animated video production, you want a big return on investment. It makes fiscal sense and it impresses the boss. But how can you be sure that you will get a viable ROI? Your friends here at Rip Media Group are going to share 4 secrets that will guarantee the investment you make in your video production will be cost effective.
Determine Your Primary Goal
What is the major objective for your animated video production? Bigger sales? Greater brand awareness? Building your user base? Creating leads? You may have more than one, but figure out which is your most important.
Designate Your Value
You can’t really tell how much money you’re going to make, above and beyond the basic bottom line, without first deciding what metrics you’re going to measure. For example, if your desire is to build a community, you need to determine what each user is worth to you – that might be via the ad dollars you make from each visit someone makes to your site. This is why step one is so important.
Alternately, if you’re trying to build sales, you’ll want to figure out what the gross margin is for each sale. If you’re generating leads and want to know what the value is for each of them, you should calculate down the funnel.
Setting Up Metrics
Some metrics are easy to measure; if sales are what you’re looking to achieve you can just check out the figures. The same goes for lead generation or user registrations. But what if you’re looking for something more? If you want to see how much info viewers retained from your video production, give them some questions to answer in the form of a short survey. If you want to know more about your viewer, check out Google Analytics for a more comprehensive look at how long people are spending on your site and what they do after they watch your video.
Figuring Out ROI
Here’s where you can figure out where your growth is happening. Technically speaking, ROI is arrived at by taking the value achieved minus the initial investment, and then dividing that by the investment.
Rip Media Group is all about making sure you get the biggest ROI you can on the video productions we put together for you. But it can’t hurt the process for you to keep an eye on the bottom line too!
Remember – your story starts here!