Using Videos Across Your Marketing Funnel to Win on YouTube13 min read
Content Currency = Funnel Wins
In the brave new world of the empowered buyer, content has not only remained king – it is now also the #1 salesperson.
Research shows us that 70% of today’s buyers make purchasing decisions based on the content they consume – before engaging with sales.
With the sales team interacting with the prospect after the purchase decision, how do you engage with your customer to make them aware of your company and product?
Content is the currency that you must use to earn trust, engagement, and influence purchase decisions. And today’s buyer is demanding video content throughout their buyer journey.
Video has exploded recently and has become the #1 form of content preferred by customers. In fact, every second there are twice as many views that happen on YouTube (90,000) than searches on Google (44,000)!
Marketers need a way to tap into this massive potential market. With recent advances in marketing automation, machine learning, and advanced targeting, it is now possible to effectively turn YouTube into a measurable performance marketing channel.
This new technology enables a new marketing strategy.
Storytelling in a Skippable World
Today’s customer is under a constant barrage of marketing messages and advertisements. They have developed sophisticated antibodies to traditional non-value-added impersonal marketing. Advertisements are interruptions and often an annoyance.
To succeed in breaking through the noise, marketers need to employ proven and powerful storytelling. Stories are in our DNA. People remember stories and good stories draw you in and capture your attention. These are the needed ingredients for building engagement.
How Stories and Funnels Relate
People develop engagement with video in the same way we progressively develop relationships in the real world. Humans are conditioned to gradually get to know and trust something new, especially over time. Trying to close a deal on the first call doesn’t work in the real world, and it doesn’t work in the digital realm either.
Also, people don’t want to feel like they aren’t remembered. If I give you my business card every time I see you, then you’ll think I just don’t care. This is the same online.
As prospects are progressively engaged with video, their sales qualification increases.
So, the key is to tell an engaging story and deliver it in personalized, contextual stages – ie, the full funnel
Full Funnel Performance Video
Full Funnel video is a method that maps the marketing funnel, your content, and offer campaigns and uses video to progressively move customers through the funnel.
Funnels are how marketers see the world. The Buyer Journey is the way our customers see it. The Full Funnel model maps these two models.
The Full Funnel model organizes into three simple stages of Awareness → Engagement → Conversion. Each stage includes videos, offers, actions, and budgets. They also include customers that are targeted and qualified by the content they have engaged with. Campaigns are fueled by media and run at the scale defined by your media spend.
How to Set Up A Full Funnel Video Strategy
To set up your full funnel strategy, begin by planning your story strategy to align with your funnel. Start with your persona and target the content that your ideal customer profile and persona are interested in. What do they care about, search for, and watch on YouTube? Then run some competitive analysis to see what your competition is doing on YouTube and how it’s performing. What content is engaging? What is the ideal length and style?
Guide to Full Funnel Video Production
With the content topics aligned to the buyer and formats designed with smart competitive positioning, it’s time to produce your full funnel videos.
Setup Offers and Call To Actions
With your video strategy aligned with your funnel, it’s time to turn to the structure of the Full Funnel campaigns. As with your videos, we will structure campaigns to be aligned to a singular goal specific to its stage.
Aligning Customers + Content + Offers with Smart Targeting
Now that the videos and campaigns are defined, it’s time to target our customer. It’s critical to target the right audience on YouTube because there are billions of people that use YouTube every day, and you only want to care about the ones that could become customers. Don’t waste media on the wrong buyer.
To target, first, think of who your ideal marketing persona is (sales may call this the Ideal Customer Profile). What problems are they trying to solve? What content would they watch that is relevant to that problem?
If you are a B2B marketer using Account Based Marketing, think of the named accounts, industries, job titles, and roles of your ideal customer. Then, find the content on YouTube that is relevant to this persona. This becomes your targeting set. Be sure to organize this because you will want to continually test it to discover which content leads to conversions.
Ready, Set, Go!
It’s now time to run the campaigns. You want to build in a ‘warm-up’ period to make sure that your campaign is structured correctly and that you are able to run a full buyer journey through your funnel. We recommend spending no more than 5% of your planned budget in the soft launch period.
Measuring Performance Across the Funnel
Now that you’ve been running campaigns, it’s time to measure how they are performing. This part will make your CFO happy.
Start by measuring how each campaign is performing individually, looking into how the specific targeting is performing. When you find content that is performing well, get more lookalike channels and videos to increase this scale. You can optimize by targeting the best and freshest content.
Measure how each stage of your funnel is performing. Are you successful in building efficient awareness but struggle with advancing users to engagement? Each stage of the funnel has specific KPIs such as views, impressions, clicks, and conversions. You can optimize here by testing different combinations of offers and content.
To quantify the value of your Full Funnel, add up all the actions and multiply the number of actions (views, conversions, clicks) by the KPI. This is the Full Funnel Value (FFV).
The value of a view is the price you paid for it (CPV), plus all the downstream actions (clicks, conversions etc.).
To quantify the full funnel, assign values to each of the metrics across the stages. The most common KPIs are:
- Cost Per View (CPV)
- Lifetime Value (LTV)
- Cost Per Action (CPA)
- Cost Per Click (CPC)
- Cost Per Mile (CPM) for display
To measure ROI, take the Full Funnel Value and divide it by the amount of media that you spent. For instance, if your FFV is $100,000 and you’ve spent $10,000, then the gross ROI is 1,000% or 10X.
Brite has a detailed ROI Guide and an ROI Calculator for more details. Check it out.
Mistakes to Avoid
Having seen lots of campaigns, we’ve learned to avoid some common mistakes. Here’s what to look out for:
Trying to convert on the first shot. Many marketers try to convert on the first TrueView exposure. While this works for User Acquisition cases (like downloading a mobile game), for most marketers, you need to develop the relationship and credibility before asking for the commitment. Don’t be surprised if you don’t get conversions. Instead, use the progressive method and you’ll see huge improvements.
Moving goal posts. Many marketers start off thinking that they want to just get the word out on YouTube (with an Awareness campaign), but they measure results with a KPI from conversion stage (sign ups). Be sure to measure the performance of the funnel with the specific KPIs for that stage. Awareness = views. Engagement = interaction and deeper content. Conversion = sign-ups and sales.
Confusing Campaign Performance and Offer Performance. You can run an excellent campaign that gets the right videos in front of the right customers and then move them from awareness through to conversion – only to find that people aren’t interested enough in your offer to convert. The solution to this case is to test different offers and focus on what happens beyond the landing page. You don’t want to fix a campaign that isn’t broken.
Good luck to you and your campaigns.
If you prefer to rely on data than luck, then you are IN LUCK.
Next Week, We’ll Share Exactly How to Turn YouTube into a Performance Marketing Machine
In a few days, we’re going to pull back the curtain and share the strategies we use to setup, execute, optimize, and measure full funnel video campaigns. We’ll show you real examples of how these strategies power performance for some of the world’s more prestigious brands and sophisticated video performance marketers.
Stay tuned to learn more about:
- How to get more customers from video as a channel
- How to delight your prospects with a better, more personalized customer experience
- How to make your CFO really happy with lots of measurable results
- How to surprise your sales team with quality leads from YouTube
Oh and one last thing here’s a handy infographic to guide you on your YouTube video content creation journey. Feel free to use it however you like.
All the things you need to know about generating revenue with video marketing In 2018.
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