Ok, so you’re done with your video marketing strategy, one that incorporates some marketing videos made to pursue several goals. People are beginning to watch those videos, and the reactions are coming in… There’s a lot of metrics to measure –excessive amounts, to be honest!
You may not know what to do with all of this information. You may not even connect which metric is linked to a particular marketing objective. It is mandatory then to select a few of them. And you can only make that selection after some more comprehension of metrics.
At Yum Yum Videos, we’re happy to announce that we will assist you with this issue. So feel free to join us on this introduction to the most relevant metrics you need to measure in order to evaluate your video marketing campaign.
Know what success looks like –so you can identify it
You need to have something extremely clear before even beginning to evaluate your video: you need to know the devices you will employ to determine if your video marketing campaign was successful or not. Let’s define it, then!
Purpose: what is it that you want to achieve? Focus on one –or maybe two- main goals. And make sure they are crystal clear!
Public: who do you want to watch your video? Try to have a very good idea on the type of people who will consume your content. The more detailed your description is, the harder the impact your video will make.
Metrics: what metrics do you need to look at? Choose a small set of metrics based on their usefulness. Your attention should be addressed to them because they will provide the most significant information.
After all of that is properly defined it’s when you get to start your evaluation, so start your engines!
“Views” tell you how far you’re reaching
How many times has your video has been viewed? Well, “views” is in charge of telling you just that, so it is arguably the most basic metric of all. This will be your first impression.
This is just the beginning of your evaluation, so refrain yourself from making early, unnecessary and misleading conclusions. Take note of them and embark yourself into a deeper analysis when you possess more data.
“Engagement” is the most popular metric around marketers. All good, but what is it about? Why is it so favored? The argument is not that complex: this metric embodies the percentage of a view watched by a particular viewer, so it goes so much further than the view count to point to the quality of the views.
The information provided by this metric paves the way for several interpretations, all centered around the subject of determining if the viewer was able to engage with the content featured on your video.
A high engagement rate indicates that the story of your video is getting to your viewers strongly and that that story gets to be consumed all the way. This fact can tell you a lot about the ability of the story to be consumed.
A low engagement rate shouldn’t wear you down, keep in mind that all of this data depends on its context. Besides, there’s a lot on the Internet that can get your viewer distracted: tons of tweets, Facebook posts and blog posts are being produced all the time, so don’t jump into any negative conclusions. Even when viewers don’t get to watch your entire video, they felt at least engaged with the content they saw, and they could even return to it once the tide of distraction has gone away.
“Play Rate” tells you relevance
A pair of metrics to measure are automatically generated once you embed your video on your website: page views and play count. These two together make up for the Play Rate, which is the percentage of people who clicked on your website and who also clicked on the play button of your video.
This metric is very illustrative of the type of content that’s getting more responses from your viewers. Play Rate is also very helpful for providing you with a good evaluation about the way your website is organized, since it tells you if you are effectively encouraging your visitors to follow the call-to-action you have implemented.
Since context is essential to evaluate your video from the Play Rate angle, you need to take immediate action if you’re not getting a positive measure: try several new places for your video on your website until you find a location that is generating more views and more engagement.
“Shares” tells you about the social mark of your video
Liking something you saw online means sharing that something you liked. When a viewer watches a video on his own, that individual experience can turn into a collective one if that viewer spreads that video among his circles of family and friends.
It is your mission to make your video shareable, since this quality enables it to multiply its potential to reach further extents. Sharing boosts the possible impact of your content.
If some social network welcomes your video more warmly than others, then that result is already telling something about the nature of your message. Keep in mind that every result of your analysis allows you to know more about the effects your marketing campaign is having on your public.
If some social network is not so welcoming to your video, then don’t feel disappointed. Every outlet establishes its own dynamic, so if you’re not getting positive results on one channel, that same video could function better on another, so focus on this one and make the most of this small victory.
“Word-of-mouth” is another term that deserves your energy. Some marketers think it may be too abstract, but you need to collect every single piece of data coming from the reactions of your video. Pay attention to what your viewers are commenting on, what impresses them the most, what gets them excited, etc. This interpretation may not be very objective but it’s useful, indeed.
CTR tells you about your viewers’ reactions
The click-through-rate indicates the percentage of viewers that click on any call-to-action (CTA) you may have conceived for your marketing video. If you really want to analyze the ability of your video to engage, then you should take a close look at this metric.
A high CTR implies that what you’re showing in your video managed to get your viewers to stay until a CTA showed up –and to get them to do something about it!
The analysis made from this perspective is crucial to study the power of your video to effectively enhance your conversion rate, so any result that you get from it will work great for your commercial strategies.
This example is perfect: if you realize that a lot of people are watching your marketing video entirely, but they stay passive and don’t do anything, then you may have to change the placement of your CTA. Don’t forget that evaluating something leads to deciding to do something, so gather reliable information and you’ll make a reliable decision.
“Conversion Rate” tells you if you found the treasure
The Conversion Rate may hold the most valued piece of information: it indicates the number of leads your video has managed to make. Since this is the result at the end of the campaign, it represents the final result -it tells the number of viewers who converted into leads.
The importance of this metric is reflected in its complexity: in order to get proper data, you need to recur to the aid of other analytics tools, like Google Analytics. Make sure to have every parameter clear before you run into conclusions –nothing should be discarded when it comes to analyzing this metric.
First define what conversion means to you in terms of your marketing strategies: is it a viewer that did one thing on your website? Is it a viewer that made a purchase? Is it a viewer that downloaded something? A solid definition of a conversion will bring a solid analysis of your Conversion Rate.
This metric will provide you with a rich idea on the effectiveness of your commercial tactics, so try to take a look at it with your salesman hat on!
Long story short! Knowing what success is remains the first step towards measuring it
After putting blood, sweat and tears into your marketing video, it is understandable that you want to find out if it was successful or not. In order to do that, you need to establish a series of metrics to measure that will help you to make that evaluation. Your videos will give you lots of data, so you need to narrow them down to the ones that will be more useful to you. You have to make a proper sketch of success so you can recognize it when you accomplish it. The magic of metrics is that they empower you to conceive and practice amazing marketing strategies!