So, your company is on-board with your video marketing strategy and has invested some money into producing, editing, marketing and distributing these videos throughout your business. But how do you know whether these videos are working? If your boss asked you for recommendations on which videos to continue making and which ones to pull the plug on, what would you say? What would your rationale be?
This is where video analytics come in. A common misconception surrounding corporate videos is that they are “difficult to measure for success.” However, with video analytics you can easily measure or quantify success, while gaining a better understanding of your audience and their viewing habits.
Here are some metrics for measuring your video’s success:
1. View Count
This metric indicates the number of times people have viewed your video, or the “reach” of your video. This number can be deceptive, as one could watch only a portion of your video and be included in the view count. View count is also recorded differently depending on the video platform you use:
- A user must click play and watch the video for at least 30 seconds.
- If they skip through the video but the total time spent watching is more than 30 seconds, that view will count too. If they watch for less than 30 seconds, it won’t count.
- Repeated views count up to an unspecified point (for example, if someone watches it multiple times a day), believed to be around 4 to 5 views in one day.
- YouTube will not count a view from a user who leaves spam comments on videos.
- YouTube will not count views of videos that are embedded in a website page and auto-play.
- If your video is under 30 seconds total, it is currently unknown how YouTube measures views.
- A user must watch the video for at least 3 seconds.
- Facebook videos show several metrics, including number of 3-second views, 15-second views, total number of people reached, average minutes viewed, number of engagements, total minutes viewed, clicks to play, and link clicks. It also shows audience retention and watch time (see below).
- Facebook shows where your video audience came from (recommendations, page followers, shares, paid advertising).
- Facebook shows the percentage of genders, ages and countries/regions that make up your video audience.
- A view is counted when the video is watched for at least 3 seconds.
- A video’s view count doesn’t include video loops.
View count by itself is a vanity metric; it must be paired with more meaningful measurements such as engagement. For example, if your emotional holiday video went viral to millions of viewers, it is meaningless if none of the viewers fall into your target audience. However, if the video only gets a couple hundred views and they are all decision makers at big companies, that is a bigger win.
If you’re experiencing low view counts on your videos, re-evaluate your video distribution strategy. Are you publishing your videos on platforms where your target audience is likely to watch? Perhaps experiment with your titles and thumbnails as well.
2. Retention Rate/Watch Time
This shows you how much of your video was watched by viewers and whether it resonated or was abandoned. Research shows that the average retention rate for videos is 52%, but the amount of time spent watching your videos depends on their length. A video under 1 minute in length will be watched all the way through by about 68% of viewers. In general, a 60% retention rate is considered successful for a video.
However, most viewers will sit through any video if it’s truly entertaining or useful to them. It is dependent on the subject matter and what is trying to be achieved. Make sure that you get to your message quickly, within the first quarter of the video, before viewers can leave.
The ideal length for videos varies depending on the channel and video topic, but here is a general rule of thumb for business-to-business (B2B) videos:
- Explainer: 60-90 seconds
- How-To/Tutorial: 2-10 minutes
- Product Demo: 2-5 minutes
- Sales videos: 15-60 seconds
- Webinars: 15-60 minutes
- Company culture: 1-3 minutes
- Instagram: 15-30 seconds
- Twitter: 15-30 seconds
- LinkedIn: 15 seconds-2 minutes
- Facebook: 15 seconds-2 minutes
- YouTube: <2 minutes
3. Video Click-Through Rate (CTR)
Out of all the people who have seen your video, how many of them stopped to watch it? Also known as play rate, video CTR is the total number of clicks (video views) divided by the number of impressions (times it was seen in the user’s browser of app). To maximize your CTR, make your video title, call to action (CTA), and thumbnail intriguing and curiosity-evoking without giving away too much about the video. A/B test different thumbnails to see which one your audience prefers more. If embedded in your website or email, make sure the video is the focal point.
4. Link Click-Through Rate (CTR)
Similar to Video CTR above, Link CTR measures the percentage of viewers who saw your CTA and decided to click on the link. This can refer to a link in the description of the video that drives viewers to your website, or a link embedded in the video. If you have a low link click-through rate, try altering the CTA to be more visually appealing, or placing it in another part of the video.
5. Social Engagement
How many times was your video shared on social media? The number of social shares your video gets shows that your audience found the video valuable and appealing. What was the audience reaction to your video (via comments)? How many reactions, retweets, likes or dislikes did your video receive? Social engagements are both qualitative and quantitative and tell you how people felt about your video and whether they wanted to pass on the information.
6. Lead Generation
Likely the most important statistic your boss cares about is whether your video is generating leads and driving sales. To find an answer, you will need to integrate your video platform with your Customer Relationship Management (CRM). Then, you can cross-reference your CRM revenue data with the video data, to see which individuals and accounts have viewed your videos, how the videos may have influenced buying decisions, and total video views by month, quarter or year. You can see which videos had the highest conversion rates, and use that information moving forward in shaping your video content mix. If you want to determine Return on Investment (ROI), divide the total video revenues by the total investment (equipment costs, travel, crew salaries, production fees, etc.).
There isn’t a universal definition of what a successful video looks like – it really depends on what goal you’re trying to accomplish and who you’re trying to reach. Here at JIL & Associates, we understand that video analytics are key to enhancing video and overall marketing strategy. Are you trying to generate leads and sales? Attempting to recruit new hires by showing off your company culture? Or simply growing your brand awareness? Regardless of what your goal is, we’ll work with you to produce videos that will yield results you’re proud of. Ready to get started? Let’s Talk.