April 28, 2016
One of the most important steps in a video marketing campaign is the timely analysis and evaluation of the results. After all, pouring over your video marketing analytics is how you determine whether your campaign was truly a success, and what changes you need to make for future campaigns.
While video marketing can provide huge amounts of data, too much data can be a problem for marketers when that data can’t be easily used to improve your company’s bottom line. That’s why it’s necessary to identify the correct metrics before you launch your video marketing campaign and get lost in the data abyss later on.
Your metrics should:
- Be easy to understand and use
- Be easy to replicate, so that it can be compared from one period to another and be used by multiple departments within your organization.
- Provide insightful and actionable information that impacts your business.
By collecting and measuring the correct data, you will be better able to evaluate the results. Here are six metrics that are most indispensable when evaluating the effectiveness of your video marketing campaign.
It’s important to know who is watching your marketing video because it tells you the likelihood that they will buy your product or service. One quick analysis, for instance, is to compare the video’s viewers to your existing customers.
2. Play rate
This metric is the percentage of visitors who watched the video. A video’s play rate is affected by many factors, such as where it’s placed on your website, where it’s placed on the page, the size or nature of its thumbnail, or how well it coincides with the other content on the page.
3. Average engagement
This metric tells you, on average, what percentage of the video was watched. If viewers are watching the video all the way to the end, your message is obviously being well received. If, however, they are clicking off after only a few seconds, you probably have targeted the wrong audience or your messaging may need to be dialed in. Keep in mind that 100% viewer retention isn’t necessary, along with creating a “viral video”. The goal is to engage with your target viewers, i.e. the demographic that’s most likely to respond and engage with your content.
4. Comments and social shares
How many viewers are making comments are sharing your video(s) on their social media accounts? Typically viewers who comment on or share your video are highly engaged with the message and are more likely to act on your product or service.
5. Traffic source
You definitely want to know how viewers are finding your video. Odds are that you’ve invested some of your company’s valuable resources into luring viewers to your video, so it’s important to know which mediums and sources are generating the most traffic. You also need to know whether that source is bringing traffic that matches your target demographic.
Effectively using video marketing analytics gives you more control over your marketing strategy. This helps you improve the performance of your marketing videos, which leads to better results. For more information on using video to establish credibility, convert more leads and close more business online, contact us today.