You’ve invested time, money and energy in an online video marketing campaign. Now, it’s time to take a step back and analyze the performance of your videos. Depending on the campaign, different metrics may act as key performance indicators (KPIs). In this article, however, we’ll discuss the video marketing metrics we believe to be the most valuable to brands, advertisers and content creators.
Earned media is any viewership that comes as a result of social behaviors (word-of-mouth advertising), driven by paid and/or owned media. For example, let’s say you paid to promote your video on YouTube. Someone watches it, enjoys it and decides to share it with friends and family on Facebook. Any views derived from that share are considered earned media.
We consider this to be one of the most valuable video marketing metrics because people tend to trust recommendations from their own network. In fact, in Nielsen’s latest Trust In Advertising report, 84% of global respondents across 58 countries said that digital word-of-mouth advertising was the most trustworthy. Additionally, a recent survey from Harris Interactive for The Webby Awards found that nearly seven in 10 millennial social users are at least somewhat likely to make a purchase after seeing a friend’s post.
“Tracking earned media is a great way to see where your content is being shared organically, so you can gain insight into the most engaging social channels for your brand/content,” said Vitor Petrone, ViralGains’ Ad Operations Manager.
Engagement includes the likes, shares and conversations around your video content. In this day and age, making sure that real people are seeing and interacting with your videos is a must. The initial sharing of your video content will fuel earned media, which, as we mentioned above is extremely valuable.
Along with generating earned media, engagement will fuel video discovery across social media platforms, expanding reach and ultimately awareness. BI Intelligence recently reported that social media is the second most popular way people find videos online. As an added plus, consumers are more likely to remember a brand from videos that are recommended over social media.
The CTR, or click-through rate, is the percentage of time a viewer clicks the call-to-action in your video. This click can lead viewers to your website, a product purchase page, or even another video. Ultimately, the CTR is a measurement of how well an ad drives action.
Most brands need viewers to take action in order to justify an investment in online video marketing. Unless the sole purpose of your video is branding, you will too. To maximize ROI, or your return on investment, pay close attention to CTRs. If 10,000 people watch your video but only 200 click-through, you have a 2% CTR and may need to reevaluate your content and/or targeting strategy. Typically, in the video marketing industry, anything over 3% CTR is commendable.
How compelling and effective is your brand’s message? Completion rates will give you a pretty good idea. As you can probably guess, the completion rate is the percentage of people who watch your video all the way through.
“It’s a great indicator of how users are engaged with the video; if it’s a high percentage it means that the content is well aligned with the audience,” said Petrone.
TubeMogul, an enterprise software platform for digital branding, found that brand messages were remembered at a much higher rate when viewers finished the entire ad: 20.5% of those who completed an ad remembered the brand message, compared to 8.3% of those who only watched part of the ad. Additionally, brand awareness grew by 6.9% for those who viewed the full ad, compared to 3.5% for those who saw only part of the ad.
An important metric for any online video campaign, completion rates reveal how engaged and captive your audience is.
In order to evaluate placement performance, you have to take into consideration most of the metrics above. Let’s say, for your campaign, you distributed your video through blogs, social games, social networks, etc. Comparing the metrics above for each placement will allow you to determine the best channel for future marketing efforts.
“Depending on your KPIs, you can use the aforementioned metrics to evaluate the performance of the placements, and then focus the distribution of content on the placements that have better met those KPIs,” said Petrone.
Though this seems like a summary of metrics, rather than a metric itself, placement performance is an extremely valuable measurement when it comes to maximizing views, shares, conversations and other KPIs for your online video content.