Video marketing is coming out to be one of the most popular marketing strategies in 2019, as 93 percent of business users consider video creation a priority. To give you some perspective on how prevalent videos have become, consider the fact that 78 percent of people watch a video every week, and 55 percent view videos every day. On YouTube alone, viewers watch 1 billion hours of video each day!
So, suppose you launched a new video.
Do you know what its success would look like?
How would you decide if your video campaign was successful or not?
You guessed it right. You would use video metrics.
Arguably the most critical part of the entire video marketing process is measuring the success through a series of analytics that makes sense to your business.
Video analytics is necessary to measure as it gives you insights about what your customers like, what they find valuable, and where you could improve your video strategy to maximize returns.
Eighty-one percent of businesses are using video marketing this year, up from only 63 percent who leveraged videos in 2018, according to Hubspot.
Since we are now well-versed with the breadth and depth of video marketing companies are following, we know the competition is fierce.
Customers have no time for lame marketing videos, and they won’t spend a dime of their attention on something that doesn’t attract and engage them in the first glance. The only way to find out what kind of videos work for your audience is to measure video analytics and course-correct strategy as you go.
To start with video analytics, capture the following metrics:
What would you value more? Users who clicked the Play button, or those who watched your video throughout?
Definitely, the second kind of users makes more sense to your business because they stuck with your video throughout its duration. These people find your marketing engaging, useful, or entertaining.
These are your actual audience. To measure audience retention, you can look at those specific things: view duration and percentage viewed.
If the average view duration for a 7-minute video is 4 minutes, the percentage viewed metric is 57 percent. With this as an indicator, you can compare audience retention in various geographies, by the date, and retention on various types of videos to learn what works best for your audience.
Measure the impact of your videos through their share rate. Shares on social media and embeds are two essentials to measure the shares on your video.
People share videos when they find them valuable, and a high share rate is a definite sign that your audience finds value in your videos.
The share rate for a piece of video content is the number of shares vs. the number of views.
This metric measures the effectiveness of a video embedded in a webpage. Bounce rate is the percentage of users who visit a web page and then leave without browsing any other web page on the website.
Whereas, time-on-page determines the number of users who did not bounce off and spent time on the page. So, only viewers who did not bounce off the website count here for determining the time on page.
Needless to say, when a webpage gets a low bounce rate and a high time on page, the embedded video is responsible for a majority of this success.
How a video is performing on a landing page can be identified by video CTR and view rate. Video CTR is a measure of total clicks on Play vs. the total number of page views. Whereas, view rate is a ratio of completed video views vs. pageviews.
Integrate event tracking in your webpage to determine the clicks on the video and the completed views. The pageviews can be easily tracked from the web analytics section.
These metrics help you optimize video placement on the landing page, embed dimensions, so the video is clearly visible, the thumbnail which attracts Play clicks, and the content and images around the video.
These convey the real meat of how effective a video is. Engagement is expressed as a percentage and shows how much of the video users watched on average.
With this engagement data, you can gauge the quality and usefulness of your videos and course-correct your strategy. You can get insights into how many users watched the complete video, skipped to specific parts, re-watched, stopped watching, and when.
Feedback is a direct measurement of how your audience likes your video content. This is explicitly determined by the reactions and comments on your videos- on social and video platforms.
A few quick tips to optimize these key metrics are:
By 2022, online videos will be 82 percent of all consumer internet traffic, up 15 times from what it was in 2017.
If you’re not already optimizing and measuring results from video marketing, it’s time. Use video analytics expertise, such as Rubiscape’s to gain useful insights into customer interests and behaviour.
Insights can be revolutionary!