Only you can tell if your video marketing strategy has been successful – so let us teach you how! Alright, so you have developed an entire video marketing strategy, one that may include several videos intended to fulfill diverse and concrete needs. Those videos are now out there, and you’re already getting some reactions. You now have at your disposal tons of video metrics –too many of them, actually!
At first, it’s hard to comprehend what you really need to do with this data, I mean, you may not even be aware of which metrics are associated with your marketing goals. So you need to be careful when it comes to choosing which ones you’re going to consider for further analysis. That selection can only come after you understand those particular metrics.
You don’t need to worry, though. Because here at Yum Yum Videos, we’re more than happy to give you a hand in this regard. Allow us to walk you through the most important metrics that will enable you to measure the success of your video marketing campaign.
Before accomplishing success, you need to define it
Hold on a second! Before we take you to the mysterious yet marvelous land of metrics, there’s something you need to understand -very clearly- even before you make your video. You guessed it right: in order to develop a proper evaluation of your video marketing strategy, you need to establish those parameters you’re going to measure later!
You need to determine what the specific goal is that you’re looking after. Make sure you focus on one thing –alright, maybe two at maximum- and that you understand that goal very precisely and clearly.
You must establish the type of people you want to have consume the content of your video. The more specific you get in this regard –qualities, age, preferences-, the greater the impact your marketing efforts will leave on them.
Make sure you pick out a few metrics, based on their relevance -these are the ones that will get the most of your attention. Your main focus will be addressed by these metrics! These are the special ones because they will give you the most useful information.
Now that you have all those parameters defined and cleared up, get ready to immerse yourself into the fascinating world of metrics!
Measure “Views” to determine the extent of your reach
The number of views only tells you how many times your video has been viewed, so it is the rawest metric of all -it indicates, but just merely, an initial impression on the reach of your video. That being said, the video count represents the beginning of your video’s story, so be careful not to run into quick conclusions if you only take a glimpse at these numbers. After all, they’re only touching the surface for evaluation purposes. So take a deep breathe when you register them, stay calm and then get ready to get deeper with the aid of other metrics. Just take into consideration that views are counted differently on each platform: on YouTube, a view is only accepted once 30 seconds of a video has been seen, while on Facebook, it’s barely 3 seconds. Keep in mind all of these different standards if you have published your video on different outlets, so you can register the data properly.
Measure “Engagement” to evaluate quality
If there’s a single metric favored by marketers, then that would definitely be the one called “engagement”. Ok, but what does that mean? And why is it so loved? The rationale is rather simple: it represents the percentage of a view that a certain viewer has watched, so it extends beyond the view count to indicate the quality of the actual views. This data stimulates many interesting interpretations, all focused around the subject of whether the viewer ended up engaging with the content shown on your video. Watch Tortillaland’s video, one of the most engaging ones we’ve ever made:
If you end up with a high percentage, then that means that the message is resonating within your viewers and that the content is watchable until the end. This should give you a solid idea on whether the viewers are actually consuming the story you’re trying to tell them.
Don’t get discouraged if your engagement rate is low, just remember that all of these metrics are dependent on the context. People on the Internet get distracted a lot: there’s simply a lot of information being published all the time, so don’t get the wrong idea here: people may not end up watching your video all the way through, but if they were able to watch it for a few seconds, then that means some engagement has been reached -and then maybe later they will come back to your video in the near future!
Measure “Play Rate” to analyze relevance
Embedding your video on your website, automatically provides you with a couple of metrics you need to consider: page views and play count. When you put these two together, then you have a play rate. The Play Rate is the percentage of people who visited your website and who actually clicked play and started watching your video. Play Rate sheds some light on the type of content your viewers are responding to. Additionally, it is also useful in terms of giving you substantial information for making adjustments in the way you set up your website, so people feel more encouraged to play the video and ultimately click on a certain thumbnail following the desired call-to-action. Play Rate is highly impacted by the proper location and design of your website, so it will provide you with a clear idea on whether you’re putting the video in the right place. Watch Gigtown’s video, they embedded it on their homepage and now is one of the best explainer videos according to Hubspot.
Context seems to be the key when it comes to analyzing this type of data. If you’re not getting a positive play rate, then you need to act immediately, trying several new locations until you hit the right spot.
Measure “Shares” to discover the social impact
If people watch something and like it, then it’s almost certain that they will share it. Watching a video on their own represents an individual experience, but if they share it, then it turns into a social experience. Sharing, then, is relatable to how successful you were at conveying the message. You need to make your video shareable, just because it then adopts the ability to reach more people than you may have believed at first. Sharing enhances the influence of your content. If your video is shared on a certain social network more than any other one, then that can give you an idea on what channel your content is working better on. Remember that results from your evaluation should propel you to enhance the knowledge of your own video marketing campaign. Don’t get discouraged if your video is not performing well on a certain network. The content does not apply in the same way for every outlet. So if you’re not getting good results for a certain channel, but that same video is working well on another, then focus on that network and try to take advantage of that specific success. If you want to analyze your video’s ability to be shared properly, then you need to consider “word-of-mouth” -a rather abstract concept, but one that certainly deserves your attention. You need to take a close look at all of the information provided by those shares. Take note of the comments, impressions or any other form of feedback produced by your viewers. This represents an interpretation that may be qualitative, but that can be as useful -or maybe even more useful- than any other piece of information.
Measure the “CTR” to tell if your clients are reacting properly
The click through rate measures the percentage of viewers that click on whatever call-to-action (CTA) you have designed for your video. This is one of the most useful metrics to analyze the power of the engagement of your video. If you have a high CTR, that means that the content shown in your video was compelling enough to make your viewers stick until the appearance of a CTA –and to actually make them follow it! Evaluating your video through the CTR prism is essential to analyze the strength of your video for increasing sales and conversions, so keep a close look on it and then react accordingly. Let us give you an example: if you find out that a lot of people are watching your video until the end, but they don’t take any action, then you need to adjust the location and the timing of your CTA. Remember: evaluation should lead to action, so if you gathered the right information from your metrics, then you’ll be able to make a smart decision on how to adjust your current strategy.
Measure “Conversion Rate” to discover if you’ve hit the jackpot
This metric may be the most important of all: it tells you the exact number of leads or clients you have obtained thanks to your video. It basically measures the final result, since it indicates the number of viewers who actually turned into leads. The complexity of this metric implies that, in order to get an appropriate and trustworthy figure, you need to work alongside several analytics devices, like Google Analytics, for example. You need to be very careful as to how to handle the results of the evaluation propelled by this metric, so you better get as specific as you can.
We suggest establishing a very precise definition of what “conversion” means to you: is it a viewer that clicked on a thumbnail? Is it a viewer that downloaded something? Is it a viewer that filled out some form? You need to have a robust idea on what a “conversion” means for your own marketing purposes so you don’t end up fooling yourself or misleading the interpretation of your evaluation. Make sure you have it all cleared out before reading the page of results. When it comes to conversion rates, the conclusions that you get will provide you with vital information on the commercial success of your video, so don’t underestimate any strategy that you can plan out before heading into rushed interpretations.
Let’s get to the point here! Success can only be determined if you define it first
Whenever you do something related to your video marketing strategy, you instantly want to know if it works. But in order to achieve that, you need to establish a series of parameters that will be able to tell you if your strategy was successful or not. A video on your website will provide you with a lot of data, but you need to pick which metric you’re going to examine. You need to define what success looks like to you before it comes knocking at your door. If you know what success looks like, then you’ll be able to design and implement successful marketing strategies!