How To Calculate Sales Generated By Online Videos
- Category: Blog
Measuring the sales of physical products is a very easy thing to do, however this becomes much more complicated when it comes to online sales. This is particularly true when it comes to figuring out how many sales have been generated from things like the business website or the social media accounts.
One of the hardest things for businesses to measure online is how many sales have been generated from online videos. While video platforms like YouTube are a very good way for businesses to reach their potential customers, measuring how effective they are has always been difficult. There are however a few tricks and tools you can use in order to get a clearer idea of how many sales have been generated.
Make A Landing Page
The first thing you really need to do is figure out how many hits your website is able to generate from your videos. The best way to do that is to make a landing page that is specifically designed to be used in the 'call to action' at the end of your videos. Also make sure that you put the link in the video description as well so then viewers are able to find the link easily.
Once you have done that, you should use some sort of analysis system in order to measure the number of hits your video landing page generates. Google Analytics is widely regarded as the best site for measuring hits on a website, and the system has the ability to give you a clear indication of how popular your video has been.
While this is a great way of measuring the hits for your landing page, in reality it only really measures the number of potential customers rather than paying customers. Visitors could have easily decided to move onto something else after visiting the landing page, so you can't really assume that they have purchased anything from your business. All you can really do when people have clicked on the link is do everything you can to keep them interested. Make sure that your landing page is of a very high quality, and it contains content that will help convince a visitor to stick around and look at your site a little more.
Also, while you are using Analytics, you have the chance to figure out how many more hits the video is able to generate than other pages. In most cases, videos are able to attract 50% more website hits. For this reason alone, using videos should be a very big part of your online presence.
Using promotional codes is something that print and television advertisements have used very effectively over recent years. They have proved to be very effective at finding which channels and publications should be given the most attention, thus making advertising a little more cost effective. Promotional codes can also be very helpful to calculate sales online.
Promotional codes that can then be used on landing pages can give you a more solid figure when it comes to video generated sales. If you are using several video hosting platforms, then this could also help you find out specifically which sites are bringing in the most visitors.
Having said that, promotional codes still are not the most definitive way of calculating the number of generated sales. There is always the chance that some people who view the video hit the link for the landing page without seeing the promotional code, in which case they could buy something without using it. The best way to make sure this doesn't happen is to give people an incentive to use the code. Maybe include some form of special offer that is only available to people who have watched the video. That way customers will be more inclined to use the code instead of just ignoring it.
Bringing It All Together
The very best method of calculating sales generated from online videos is to use both of the methods above at the same time. When you do this, you will be able to get incredibly well detailed numbers that will give you a very good idea of how well your video campaigns are working.
First of all, the amount of hits that Analytics are able to find for your landing page can be compared to the number of video views. If the amount of views vastly outnumbers the amount of people clicking on the link in your 'call to action', then it could be time to change your video campaign. The aim should be to get the two numbers as close together as possible. After that, you can take the number of hits and see if they match the amount of people who use your promotional code. Again, these are two numbers that should be as close as possible. If you are getting lots of hits but very few people using the promotional code, then it could be that your landing page is not very appealing and should be reviewed.
Ultimately, there isn't really one completely accurate method of finding the amount of sales that videos are able to generate. The above method is probably the most effective way of getting accurate numbers, or at least numbers that will give you an idea of how well your video campaign is going. Sales after all are the most important thing for a business, so being able to understand a little more about how effective your video campaign is will go a long way to ensuring that your online presence remains strong at all times.