Measuring Success: Key Metrics for Story-Driven Campaigns

In the world of video marketing, the saying “What gets measured, gets managed” rings true. As more and more brands adopt storytelling as a central strategy, it’s now crucial to measure the return on investment (ROI) of these narrative-driven campaigns. The benchmarks you measure against may vary depending on how and where your stories are brought to life and on which social media platforms. 

‍

Interactive Stories

Stories brought to life through interactive video give viewers more choice and power to control the narrative. Here are some general recommendations and guidance on how to measure success if interactive content features in your campaign.

‍

Overlay Time

A video overlay refers to another video layer on top of your original video. The goal of this extra layer is to provide more information and deeper insight the viewer may find useful. See an example on our case studies page. The industry average for dwell time on an overlay is 14.8 seconds, according to the IAB. Therefore we suggest the following benchmarks for success:

‍

0-15 seconds - Fair

16-25 second - Good

26-45 seconds - Very good

45 seconds and above - Exceptional

‍

Engagement Rates‍

An immediate measure of a story's resonance is judged on the level of  engagement that results. Monitor metrics such as, likes, shares, click-through rates and comments. High engagement indicates the story resonated with its audience and sparked interest.

‍

Collect Data 

Are you using stories to drive people into your sales funnel, or at least encourage them to share their contact details to (receive more information) such as email or phone number? By asking viewers to complete a quiz/answer a series of questions, you can easily find exactly who they are much faster. Don't miss the opportunities to collect important data about each person viewing your content or consuming your stories.

‍

Sales and Conversion‍

Ultimately, the purpose of marketing is to communicate the value you bring and lead to a sale. Measure the uptick in sales during and after the campaign. Conversion rates (from e-commerce platforms) determine the percentage of visitors who make a purchase.

‍

Website Traffic‍

A successful storytelling campaign will draw audiences to your brand's website and social media channels. Monitor website traffic, page views, new followers or subscribers, and the duration of visits to gauge interest and engagement levels.

‍

Lead Generation‍

If your stories compel users to download resources, subscribe to your newsletters, or make inquiries, it’s a positive indicator. These leads can be nurtured into potential sales.

‍

Brand Loyalty‍

Increased brand loyalty is a coveted outcome of effective storytelling. While harder to measure directly, by monitoring the number of customers who repeat purchase and by keeping your eye on qualitative insights such as comments, customer feedback and their response to requests for testimonials, you can start to get an idea of what's resonating and what's not.

‍

Reputation and Brand Image

Story-driven campaigns can shape perceptions towards different issues and brands themselves. Use sentiment analysis tools to assess how your brand is being discussed online. Positive mentions, testimonials, and recommendations can indicate a positive brand reputation.

‍

Emotional Connection‍

Great stories evoke emotions. After the campaign, or a preview screening of one of your stories, conduct surveys or focus groups to understand how your audience feels about your brand. Emotional investment often translates to long-term loyalty.

‍

Audience Recall‍

One of the hallmarks of effective storytelling is memorability. Periodic surveys can help gauge how well your audience recalls your campaign, indicating its lasting impact.

‍

Net Promoter Score (NPS)‍

NPS measures customer loyalty to a company. By asking one simple question: “On a scale of 0-10, how likely are you to recommend our brand to a friend?” an elevated NPS post-campaign can indicate success in fostering loyalty through your story.

‍

Customer Satisfaction Surveys‍

Post-campaign surveys can offer insights into various facets of your story's impact, from emotional resonance to likelihood of repeat business. Further analysis can help to quantify a customer's lifetime value.

‍

In Conclusion

While quantifiable metrics can be used to gauge if a campaign has been successful, the power of storytelling often lies in its subtler, qualitative impact. By adopting a more holistic approach combining both tangible and intangible measures, brands can assess the effectiveness of their narrative-driven campaigns and refine their storytelling strategies for even greater success.

‍

‍