Measuring Success: ROI Metrics for Social Media Video Ad Campaigns
Success is subjective, and its metrics can vary for the client and the marketer, especially in the field of social media advertising. However, one thing about which both of them will agree is to get a great return on investment(ROI) on each dollar spent. The most crucial aspect of social media video ad campaigns is not how much you’ve spent but what you are getting in return compared to the total amount you’re spending.
There are many metrics to judge the impact of your social media video ad campaigns. Some examples of them are views rate, watch time, completion rate, click-through rate, conversion rate and cost metric. But, measuring the ROI metrics specifically is one of the most important parts of running successful video ad campaigns for social media.
In this article, you’ll get to know how you can measure your marketing success by analyzing the ROI metrics for social media video ad campaigns. So, let’s begin!
The top four ROI metrics for social media video advertising are as follows:-
- View Count & Time
According to SEO Toronto experts, this is one of the most important metrics to judge the impact of your advertising success. The video ad views can aid you in gauging the impact when you compare it with your organic video views on social media. So, you can better understand where your ad campaigns are going.
The view count and time also vary from platform to platform. For example, if the video ad campaign is being run on YouTube, the view count will be higher compared to other social media platforms. Moreover, the view time will also be considerably high due to the longer duration of YouTube ads.
In the case of Instagram, the video ads will be a lot shorter in duration, limited to just seconds. The result of these ads might also be not that much in terms of view time due to various reasons.
You have to analyze your video ad view counts and time in comparison to that of your organic social media videos. If it’s more than 50% then that will definitely give you a great ROI.
- Engagement With The Ads
Social media platforms run on the basis of the engagement of their users. These engagement metrics include likes, comments, followers and shares. The metrics are basically used to judge organic social media content, but they can very well be analyzed to know how well your video ad campaign is performing.
When it comes to the likes on your ads, the more, the better. With more likes, you’ll get to know your audience is interested in what you are offering.
If your ads are getting significant comments, understand the intent behind them. Judge these comments on the basis of whether they are positive, negative, or neutral. This will not only serve as feedback for your future ads, but you can also optimize your running ad campaigns accordingly.
One of the benefits of paid ads on social media is that your follower or subscriber count also increases considerably. In case your organic followers are not increasing even after executing multiple ad campaigns, you need to strategize again for them.
Social sharing is not that common in social media video ads. However, if several users are sharing your ads, that’s like having a double bonanza. It’s because you’re getting the benefit of organic sharing giving you more opportunities to engage with different sets of audiences. Due to this, the ROI for your ads will definitely be a lot higher than what you’d envisaged.
- Click Through Rate(CTR)
CTR is the metric which lets you know the percentage of people who clicked on the call to action link or button and took the desired action. By analyzing CTR, you can judge how effective you ad campaign has been.
You can know the CTR of your ads by following the formula below:-
CTR=(Clicks/Impressions)x100
If your ad has a higher CTR, that means it’s reaching and engaging those users who you wanted to target. Moreover, it can serve as the benchmark for all your video ad campaigns. The more the CTR, the better cost efficiency you’ll get on the total amount spent. By analyzing CTR, you can get amazing insights as well.
- Conversion Rate
Conversion rate is the prime ROI metric to know your video ad’s performance. It lets you know how many people took the desired action after clicking on your social media video ad. There is a basic difference between CTR and conversion rate. The former measures the initial engagement, whereas the latter focuses on the ultimate goal of converting the prospect into a paid client. But conversion rate is the ultimate metric you should focus on!
To measure the conversion rate, you can follow this formula:-
Conversion Rate=(Conversions/Clicks)x100
By knowing the conversion rate of your social media video ad campaigns, you can measure their effectiveness in how many users converted overall. If the conversion rate is pretty good, that definitely means a higher ROI. In case, your ad has a great CTR but low conversion rate, that gives you an opportunity to analyze where your ad is lacking. As a result, you can refine and optimize your ad campaigns to get a better conversion rate, giving you a higher ROI.
Conclusion
Social media video ad campaigns can be as effective as the search ad campaign and even more in some instances. However, you should know the metrics to better assess their performance.
Metrics such as view count & time, engagement, CTR, along conversion rate of the ads will give you a clear picture. These ROI metrics will let you know the results your video ad campaigns are getting as compared to the total amount spent on running these ads.
These ROI metrics will help you not only in optimizing your current social media video ad campaigns but the future ones as well. Due to this, you’ll get a lot of leads with an amazing conversion rate and a great ROI on your social media video ad campaigns.
About The Author: Amir Waheed is the co-founder & CEO of SEO Toronto Experts. He intends to bring a massive transformation to eCommerce SEO Services. His team of talented IT professionals knows the secret of getting huge conversions.
Social Profile Links
https://ca.linkedin.com/in/amirwaheed
