Do you know that video content accounts for over 82% of the internet traffic today?
Videos are a popular content marketing form that everyone loves. People can't just get over consuming social media videos for any reason. Whether watching cryptocurrency videos on YouTube or short-viral clips on TikTok, people don't get tired of scrolling past a video at any hour.
This obsession with video content is reflected in the massive amount of videos uploaded on social platforms. YouTube alone has estimated about 500 hours of videos posted every minute. This number still doesn't represent the count from other social media channels and video distribution platforms.
Now that everyone sees video marketing as a great chance to collect audiences, how do you know if yours works out? And how do you ensure your video marketing campaign stands out from the crowd?
This is why analyzing video marketing is important.
Why should you measure video marketing performance?
Video marketing is not just about creating and posting videos on social media. It's a process that requires careful planning, execution, and, most importantly, analysis.
Not analyzing your video marketing campaign would be like driving a car without looking at the dashboard. You might think everything is going well because the car is running. But you'll never know for sure unless you monitor the key performance indicators (KPIs).
The same goes for video marketing. To ensure your video marketing strategy is working, you need to measure specific KPIs and track your progress over time.
This will give you valuable insights into what's working and what's not. Armed with this knowledge, you can make necessary changes to improve your video marketing performances.
There are many benefits to measuring your video marketing KPIs. Here are some of the most important ones:
- Allow you to track progress
You can only improve your video marketing campaign if you know how it's currently performing. You can see whether your campaign is moving in the right direction by tracking KPIs.
- Identify areas for improvement
By analyzing your KPIs, you can identify areas that need improvement. This allows you to focus your resources on making the necessary changes to improve your video marketing campaign.
- Help you make better decisions
When you have data to support your decision-making, you're more likely to make better choices to improve your video marketing campaign in the future.
7 video marketing KPIs you should measure
Now that you know why it's important to measure KPIs, it's time to take a look at the specific KPIs you should be tracking.
There are many different KPIs you can measure, but here are the top seven metrics that matter.
Views are undoubtedly one of the most important KPIs to track when measuring video performance. Views give you an idea of how many people are actually watching your videos. It's one of the best indicators of whether your video marketing campaign successfully reaches your target audience.
More views mean more reach. If you have a massive number of views, you’ll likely have a greater chance to appeal to more potential customers.
2. Engagement rates
Engagement rate is the number of people who engage with your video divided by the total number of views. This metric is important because it shows how effective your video is in getting viewers to take action. A high engagement rate indicates that viewers are interested in what you have to say and are more likely to take action after watching your videos.
Engagement can also be seen as the number of shares, likes, and comments available on your social media handles. More comments have been linked to a greater engagement rate as they mean that your content has urged viewers to share their opinions.
3. Click-through rates (CTRs)
Click-Through Rates (CTRs) are the number of people who click on a link in your video divided by the total number of videos shown. A high CTR indicates that viewers are interested in your offers. Also, a higher click means that your content and call to action (CTA) are engaging enough for people to take the next step. If you use a UTM link builder, you'll be able to see referred traffic clearly in Google Analytics.
4. Conversion rates
Conversion rate is the number of people who take the desired action after watching your video divided by the total number of views. A higher conversion rate shows how effective your video is in getting viewers to take action and move forward to contact your business.
Make sure your marketing videos are compelling and helpful for target audiences. When people find your content relatable to their problems, they will be more likely to convert and purchase your product or service.
5. Return on investment (ROI)
ROI is the return on investment you get from your video marketing campaign. A high ROI indicates that your video marketing campaign is effective and generates more revenue than it costs to produce and distribute your videos.
The ROI metric is often used in video marketing KPIs. For example, when evaluating whether to continue a video marketing campaign, businesses should measure if previous videos work. Finding out whether a video performs can help brands decide to continue a certain strategy or change it for future references.
6. Average watch time
Average watch time is the total amount of time people spend watching your videos divided by the number of views. Video average watch time can vary greatly depending on the video's content, length, and quality. For standard 30-second animated commercials, the average viewing time is about 2 seconds.
However, for other videos, such as longer-form content or videos with higher production value, the average view time can be much higher. The important thing to keep in mind is that there is no one-size-fits-all answer when it comes to figuring out your video average watch time. It will depend on a number of factors specific to your video.
7. Play rates
The play rate is the percentage of people who start playing your video compared to the number of times your video appears on a screen. It is a metric that measures how often a video is played. This could be expressed as a percentage or a total number of views.
The video play rate of an ad will be different than the playback rate of a user-generated video on YouTube. A higher play rate usually indicates that more people see and engage with the ad. On YouTube, meanwhile, a high play rate can suggest that a video is popular and is being watched by many people.
How to measure video marketing KPIs
If you want to measure video marketing KPIs, start by monitoring the platform you're posting videos on, such as your YouTube analytics dashboard, or Wistia, or wherever videos are hosted.
To measure video marketing KPIs on YouTube, start by looking at the number of views, likes, dislikes, comments, and shares your video has received. You can also look at the average watch time and click-through rate. These metrics will give you an idea of how popular and engaging your video is.
There are various options to track/measure/share video marketing KPIs. You can use Google Analytics for a built-in reporting solution or a standalone solution like TubeBuddy. If you're using a different video hosting platform, make sure to check what data and analytics tools are available. For example, Vimeo has a variety of tools you can use to track your video performance.
If you're running multiple marketing channels, it can be a good idea to use a marketing dashboard tool to pull together all marketing KPIs together in one place for an overview.
While these video marketing KPIs are important, some will matter more to your business than others. Which ones you should focus on will depend on your business goals and objectives.
For example, if your goal is to increase brand awareness, you'll want to pay close attention to the number of views your videos are getting. On the other hand, if your goal is to generate leads, you'll want to focus on metrics like the click-through rate and leads generated.
There are many different KPIs you can measure to assess the performance of your video marketing campaign. But, these seven metrics are essential in understanding how successful your campaign is and what improvements you can make.
By tracking and analyzing these KPIs, you can make data-driven decisions to improve your video marketing campaign and help you achieve your business goals.