Achieving ROI from your video content can be a tricky business, as expressed by our Non-Executive Director, Howard Kitto. Above all, you should start with the aim of delivering fair value to your customers.
With our actionable advice, you’ll better understand how to drive ROI from your content with your customers’ needs first. But first, there’s one thing that we can’t stress enough…
Start acting like a broadcaster
At StreamUK, we think that all businesses can benefit from acting like broadcasters.
Take a look at these high profile brands doing their own thing:
- Chipotle, created its own comedy series to be shown on Hulu
- Volkswagen’s recent campaign received a combined 155 million views
- Red Bull takes video to the next level by livestreaming extreme sports and gigs.
Creating and distributing video builds long term value for these brands. Through entertaining video, brands are finding ways to get the right messages, in front of the right audience, to trigger the right actions. They no longer rely on big broadcasters to advertise their products, services and events.
They use video to pull in customers’ attention first, rather than interrupting regular entertainment. With this in mind, we need to turn our definition of ROI on its head. It’s about long term gains and effective engagement, not quick wins.
To charge or not to charge?
Video can help you drive your business objectives, whether you decide to charge for content or not. Getting your messages seen, increasing subscribers and generating leads (especially for B2B businesses) are all valuable achievements from your video strategy.
So don’t jump for monetization straight away, as you may be putting off potential viewers.
We’ll see that fans are willing to pay for premium content, if the value proposition is right. There are three approaches to getting a measurable ROI from your video content:
Subscription services appeal to brands who produce or give access to a huge amount of content for fans to get stuck into.
The most famous and best practice examples are Netflix and Amazon Prime.
The sports entertainment business, WWE, is willing to give away its entire catalogue of 3,000+ hours of content for $10 a month. There’s a large enough audience that it makes sense for them.
Our client, Liverpool FC, offers a subscription service of £4.99 per month. For this single fee, fans get access to a huge amount of bonus content, including exclusive interviews, U21 games and long form documentaries.
- Pay per view
Pay per view (PPV) is the method of choice for those one-off big events. Mayweather versus Pacquio delivered over four million PPV purchases at $89.95 (although boxing has yet to adopt commercial online streaming). If you’ve got a big, valuable event, then PPV is easily the way to go.
At the other extreme, it’s also a great way to promote niche sports. GAAGo offers PPV and season tickets to access their hurling and Gaelic football games. Their dedicated fan base are happy to pay for this bespoke service, and as an added bonus, they can donate 10% of their purchase to their favourite team.
We’ve also seen steady support from the netball community for the Netball Europe Open Championships, which kicks off on May 14.
At StreamUK, we work alongside our partner InPlayer to deliver this service. Our HTML5 players integrate seamlessly with their payment solution, allowing customers to pay for the content they want directly in the player. This also gives our clients the opportunity to add in snippets of content to give their customers a brief and easy way to access the streams.
- Ad supported
This is the method of choice for gaming streams on services like Twitch and YouTube. Twitch, however, does offer viewers the ability to pay a small charge to turn off advertisements.
Yogscast are a group of British gamers who have created a following of over seven million subscribers through daily video content, which is ad supported. Due to the audience’s age, most of their viewers do not have access to credit cards, so putting the video behind a paywall wouldn’t make a great deal of sense. Instead, advertisers play the long game with these channels, marketing to a huge audience of customers who will soon grow up and have their own disposable income.
Our client, Everton, offers their content to their fans free of charge, with targeted advertising.
Which is the right choice for your business?
Our clients each use one or more of the above models for ROI. Hopefully, we’ve shown you that this is something you need to spend time thinking about. By placing your customers’ needs first when choosing a model, you’ll design a much smarter, long term platform for growth.
Do you want to be more strategic with your video? Do you see video as central to how your organisation performs? We’d love to hear and talk about driving strategic benefits through video.
Drop us an email at firstname.lastname@example.org or call 0800 061 2361 to arrange a (free) consultation and 30-day demonstration of our solutions.