VIDEO MARKETING METRICS#####
Better Metrics means Better Videos! Video metrics are better than ever these days - allowing marketing teams to track success rates nearly all the way through the funnel by using a myriad of tracking metrics. So - what exactly should your marketing team be measuring for your video marketing strategy? Here are the key video marketing metrics you need to keep an eye on...
1. "View count"
Basically your views indicate the reach of your video content. Need to reach millions of people in your target audience group? You will definitely need to track views. One caution, be aware that views are counted differently across the web — for example, on YouTube a view is counted once 30 seconds of a video have been watched, whereas on Facebook it's only 3 seconds. So if you've placed your video on various channels, keep this in mind when aggregating your data.
(Source: Buffer, https://blog.bufferapp.com/social-video-metrics)
2. "Play rate"
Play rate is the percentage of page visitors who actually clicked play and began watching your video. This metric is a good measure of how relevant your video content is to the location where it's placed, and how successful it is at enticing visitors to watch.
Video Play rate is also an ideal metric for assessing media buys for video placements, as well as assessing placement on your own eco-system of company websites. If you want a certain percentage of your target audience to click play on your video (whether it's a video on your homepage explaining your service or a edutainment product video on a new media platform), play rate is the number to keep an eye on.
Note: General (mass-audience appeal) videos will ALWAYS have better play rates than specialized or supplemental videos. So keep that in mind when assessing success of smaller, more targeted video marketing campaigns.
How much of your video has been watched by the viewer? This is your "engagement" metric and is expressed as a percentage. Average engagement, also a percentage, tells you how much of your video all viewers watched on average.
This metric is incredibly valuable. Why? With this data you can start to gauge the quality and usefulness of your videos and cater future video content around these types of subject matter. Also, note - this type of data can be useful if you visually see it expressed as an engagement graph which shows how your audience as a whole watched, re-watched and stopped watching your video (learn more about engagement graphs here).
Video Marketing Engagement Assessment
- Are viewers watching all the way to the end, as they might do with a story-driven narrative?
- Or jumping around to view specific parts, as they might do with a Q&A video?
- If you have a Call-to-Action (CTA) at the end of your video you'll want your audience to reach it.
(with an engagement graph you may realize that lots of your audience are dropping off before that point.)
4. "Social sharing"
Social sharing shows how much people are sharing your video content, usually measured by numbers of shares across social channels.
We love this metric because it relates the most to "Earned Media" - basically if you create a video that resonates with your target audience, they will then share it among their networks FOR YOU. Over time, this translates to lower media buys (paid media) and an increase in overall brand visibility organically via your target audience of users (earned media).
Social sharing leads to more views for your video which generally leads to more sharing. It's also a good measure of how appealing your video is to your target audience (and others), and how willing they are to spread the word about it. It's truly a special metric - get a lot of social sharing? You will get greater awareness not only for your business or brand but also reap an opportunity to tap into a larger portion of your target audience. And who doesn't like that?
Note: But don't just pay attention to the number of retweets/shares you get. Be sure to closely monitor the number of comments you receive about your video, and the sentiment of those (whether people are saying positive or negative things).
5. "Click-through rate"
Not unique to video marketing alone - is a metric most marketers are familiar with. The click-through rate (CTR) is the percentage of viewers that click on whatever CTA (Call-to-action for you newbies) you include in your video content.
If you are looking to drive your audience to an action AFTER they watch the video - this will be your most important metric. Your CTR will give you an indication of how successful your video is at encouraging viewers to take action. Of course, nobody will click on your CTA if they don't watch enough of the video to see it, so keep an eye on engagement too.
Note: Always make sure your CTA matches the video it's placed in. It should not only be relevant to the video topic, but should also fit the tone and look of the video. Consistency is calming...don't lose your audience by getting too fancy.
6. "Conversion rate"
Conversion is a vital metric to measure if you're producing product videos or other types of video with a goal to gain more leads or customers.
Conversion is the number of leads or customers that you have gained thanks to a piece of video content. Depending on the conversion opportunities on your site, they might have filled in a form, subscribed, made a purchase, or otherwise converted. This number can also be expressed as a percentage of all viewers that convert (aka "your conversion rate").
This metric is a little trickier to track, and will probably involve some setting up through a separate analytics software to your video host, such as Google Analytics.
You'll also have to work out your attribution model.
- Basically, how much will watching your video count towards the eventual conversion of that viewer?
- Does it only count if watching the video was the last thing they did before converting?
- Or does video get some percentage of attribution, along with every other step that viewer took before converting?
The final key metric is feedback on your video, which we touched briefly on in social sharing. This isn't a number but rather the qualitative data you can gain by tracking how viewers react to and comment on your video content.
To get a true feel for the reception of your video, you'll need to listen to your target audience and the communities they engage with. Keep a note of both the digital and in-person comments you hear. Try to judge the tone of these comments, and thereby the overall reaction to your video. Positive is generally better than negative, but human emotions are complex and you may not always be looking for that kind of feedback. For example, many charity videos are built upon expressing a negative emotion to their audience, like sadness or pity.
Because of the qualitative nature of feedback, it's hard to suggest ways to "improve" this metric. However, don't forget this more human side of the data and don't be afraid to use it as evidence to create video content more tailored to your target audience in the future.
Urgent Video Services Need?:
LACED Agency offers a dedicated business unit designed to meet your business's video marketing needs. Our seasoned in-house team is skilled in all aspects of production and post-production, and able to execute compelling stories from start to finish.