Using videos to promote your business is far past the point of being an “up and coming” marketing strategy. They’re now the key to online advertising success for most companies we head towards the upcoming year. Whether it’s on YouTube, social media, or a company website, videos immediately capture viewers’ attention, just like a well-designed poster would, decades ago. However, it’s always important to make sure that your videos are reaching your target audience. As part of an effective marketing campaign, you should be consistently thinking about what works and what doesn’t – video analytics can tell you how to produce the best content for your intended audience.
If you’re like most of us, your mind probably jumped to your video’s number of views when you heard the term ‘analytics.’ The number of views is a vital part of determining the effectiveness of your video marketing, but using analytics to advantage goes beyond how many clicks your video receives.
More Than Just Views
So 5,000 people watched your latest video: this is excellent news, right? Well, that depends. You want your viewers to continue watching your video until the end. If viewers click away after three seconds, this increases your bounce rate, which isn’t a good thing.
Bounce rates determine how interested people are in your video content, so you want a low bounce rate. If you’re only counting views, you might not be getting the full picture of how useful or relevant your video content is.
Superb Analytics for Videos
While views can be a good piece of data when taken with a pinch of salt and used as a prediction of reach alone, there are some better data points you can enjoy. Whether you’re a business or an individual looking to grow a brand, these can be used!
What’s your target market’s geographic location? With the right video analytics tool, you can see exactly where in the world people are watching your videos. If most of your views are coming from countries who can’t order your products, this is a huge problem.
In addition to location, analytics that display your viewers’ age and gender are also available. For instance, if your target market is composed of people aged 18-25, and your analytics show that most viewers are part of this demographic, your video content is successfully promoting your brand.
Viewer engagement provides more insight than just view count because you can assess where people leave the video and how long they tend to stay, on average. Furthermore, it’s easy to see where people re-watch a particular part of the content. Do your viewers lose interest during a slow, explanatory section of the video? Do they re-watch a joke multiple times? Do your viewers stay for the important message?
If you find that viewers are leaving before your advertisement, your next video might benefit from having value propositions stated earlier on. Even if it’s a reminder to press the ‘like’ button (to receive a special promotion), bringing this forward could increase your reach almost instantly.
Response Rate (Call-to-Action)
If your video asks viewers to take some form of action, you need to know how many people are actually engaging. Essentially, this becomes your ROI figure because it answers the question of how many conversions you received from the video. If you have a 0% response rate, you might need to work on the call-to-action whether it’s adding re-designing your call-to-action or making it more obvious.
Finally, we’re also big supporters of unique views metric because having ten people watch the video twenty times will artificially inflate the success being experienced. With unique views, you can see the exact number of people who watched the video. Just because you have 20,000 views on a video, this doesn’t always equate to 20,000 individual viewers, which is why this metric is so important. Ultimately, it gives a more realistic view counter to assess the reach of your content.
Utilizing Video Analytics
Before you take advantage of these metrics, you first need to choose the right platform for your videos as well as a good tracker to provide the analytics. Where will you upload your videos? In truth, this depends on where your audience can be found. If your target market doesn’t use Instagram or YouTube, you’d be wasting time and money focusing on these arenas.
Once you’ve found your market, we advise checking your video analytics regularly and setting targets for improvement. If you’re actively making changes to your videos, how are you supposed to know if they had an impact if you aren’t looking at the numbers? By regularly reviewing the analytics, you can judge whether your ideas are working…or not.
Although it might seem time-consuming at first, using video analytics will bring a return on your investment (so long as you use the data wisely). With the right statistics, you can build a plan and assess your success as time goes on!