Quick guide: Get the most from video analytics
According to the latest figures, video will make upto 82% of all internet traffic in 2021. Not only are people watching more video, but they’re watching better quality content. With the likes of YouTube and social media at their fingertips, consumers are savvier than ever at choosing engaging content that they want to watch, forcing businesses to be more innovative with their video strategy.
79% of consumers say a brand’s video has convinced them to buy an app or software. Video works, and consumers are more likely to retain information given to them via video compared to plain text. Despite video marketing becoming the favourite way to reach audiences worldwide, only 35% of businesses are using intermediate or advanced analytics to measure video performance.
So how should businesses be using analytics to measure success and define KPI’s?
1. Define your goal
Making videos can be fun and exciting, and it’s easy to get carried away making an expensive video - but having defined video goals is essential to measuring the success of your campaign. Do you want to increase brand awareness to reach a new audience, or engage with your existing customer base? By understanding what you want to achieve from the video, and who you are trying to reach, you can use analytics to measure its success.
2. Define your KPIs
Once you have clearly defined your campaign goals, you can begin to look at what KPIs you want to measure for your campaign. In the image below you can see some of the video analytics available, and how those can become KPIs that can help measure the success of your marketing campaign within the funnel.
3. Define conversion measurement
Tracking contacts from your video through to conversion ultimately gives you the much sought-after link between content and business performance. You can measure exactly how much a specific video contributed towards converting a lead to a sale.
Conversion rates are a notoriously difficult metric to measure, but the solution is to send video data directly into your marketing automation. Within your MA tool you’ll be able to see exactly how much of each video each contact has watched. Using reporting within your MA tool, you’ll also be able to perform cohort analysis around a collection of content in a campaign.
Wherever you’re up to with your video strategy, a little definition and planning goes a long way towards ensuring you’re taking the correct measurements and reliably demonstrating the value you’re adding to the business. If you'd like to find out more about the in-depth analytics and marketing automation integration capability of Buto please book a demo...