Your return on investment is important
At Five on a Bike, we understand that using video in your business might be daunting. That’s why we make sure that our focus is always on helping you to get the best video return on investment.
Your ROI is always in mind, from helping to identify where your video would make the biggest impact to showing you how best to use it.
Step 1: Working out where video will have the most value within your business
It’s important to start the process by identifying where video will bring the biggest impact within your business. We are seasoned professionals in identifying where we can be the most useful, it doesn’t matter whether you come to Five on a Bike with a general plan for your videos or absolutely no idea at all.
The best way to explain a video return on investment case is through example…
Say, your sales team are looking to use video to increase conversion rates, then your video campaign needs to be designed in a certain way to suit this area. Whether it’s demonstration videos of your awesome product or customer testimonials brought to life, we’ll look at your existing conversion rate and let you know how far we think we can take it with these videos…
Step 2: Working out your predicted ROI
Imagine the sales team have £5,000 to spend on a series of videos, with the goal of increasing your sales conversion rate.
At the moment, the team gets around 1000 leads per year, with a current conversion rate of 30% – so 300 conversions per year.
Each conversion is worth around £500.
Five on a Bike would take this case and work to increase the conversion rate by 5%, taking it from 30%-35%.
With an extra 50 conversions created by video, that’s another 50x£500.
So, your video return on investment would be £25,000 out of a £5,000 project.
The £1.8 million video
When a FTSE 250 company came to Five on a Bike looking for recruitment videos, we knew exactly what we needed to do to maximise their ROI. Take a look at our vlog, where York Woodford-Smith will show you just how we created a video worth £1,894,736.84…