Nowadays, there are so many tools specifically geared for making quality videos and promoting your brand on social media. With numerous online video maker apps for specific needs, businesses start to create marketing content themselves. With so many brands sharing video content, it can be hard to tell what works by just simply scanning the number of views. For better understanding, you need to rely on Key Performance Indicators (KPIs), which are measures for comparing results against goals.
These indicators tell you if you achieved what you wanted with your content, and if you need to replicate these efforts. You will need to gather your marketing data into a centralized marketing analytics tool in order to build your video performance indicators.
Let’s take a closer look at these KPIs in the next segment.
The Most Critical KPIs in Video Marketing
Today, video usage accounts for the majority of Internet traffic. To illustrate, YouTube announced that they have 1 billion hours of videos watched every single day. And this number does not include Facebook, TikTok, IGTV, or website views.
Video marketing is here to stay as 87% of marketers already included rich content in their digital strategy in 2017 according to Forbes. In order to stand out from the crowd, you need to create meaningful content that your audience will enjoy and -hopefully- share with their friends and network.
1. Number of Clicks
Every content creator aims for a high number of clicks on their videos. The higher the number, the wider the reach. However, you cannot be complacent even if this figure is high.
Though it is not the only determinant of success, the click rate number cannot be disregarded. First and foremost, they provide a rough overview of how people perceive your content. But, you must be careful as this is not the only indicator since it doesn’t reveal the quality of each click. You will need to contrast the number of clicks with the bounce rate, the view-through rate, and conversions to validate the quality of your videos. We’ll review these indicators in this article.
In order to increase number of clicks on your videos you can take the following measures:
- Ensure your video is placed in a good spot on your landing page.
- Create a short but catchy video title to spark attention.
- Always include a clear video description that entices the viewers to watch the entire video.
- Make sure your keywords are incorporated in the title and description.
2. Video Engagement and Bounce Rates
This is a critical KPI in video marketing because it indicates how relevant your video is to your target audience. This figure will tell you how many users stop watching your videos and at what time. It could help you assess your materials to check if there are delivery issues. Maybe the audience is bored, or they didn’t understand certain portions.
To prevent audience churn, you can try the following:
- Create a 5-second intro to serve as the hook.
- Remove pop-ups that destroy the user experience.
- Pay attention to sound quality as viewers don’t watch nice images with bad audio.
- Use fresh content and unique story-telling strategies.
- Create compelling CTAs that add value
- Use a video editor to create great visuals.
3. View-Through Rates
If you pay close attention and polish your output, viewers are more likely to keep watching until the very end. This is inferred through the view-through rate, which is a vital indicator to know if your video provided the answers your audience was looking for.
To get this figure, you must account for the total number of viewers who watched until the end then divide it by the total number of views.
Of course, your goal is to get a high percentage because it would mean:
- That you understood the intent behind the viewers’ search
- That the production of your video is of great quality
- You broadcasted the video on the right channels
4. Social Media Shares
Here’s an interesting stat about video marketing and its importance on social media: 500 million people watch videos on Facebook daily, with over 8 billion hours of videos viewed per day.
Today, high social media sharing equates to better reach and brand awareness since every like, comment, and share means that your video appears on the feed of your viewers’ network.
Thankfully, videos are in the top position in the list of content that gets the higher percentage of shares:
5. Returning Users
Once you upload your video, you will notice recurring or returning users. It is common for viewers to come back and watch your video a few times. Google Analytics helps you identify these users based on your session information. This is then counted several times over a time frame.
For example, the time under assessment is January; the user clicked on your video once weekly. Thus, the user is counted four times. The recurring users are divided into two groups:
- Little Understanding: They are those who did not understand the material. Hence they watch the videos repeatedly in a row. Take note of this because it may show your videos are not clear enough. Thus, you need to pay special attention during the editing phase.
- Refresh Memories: When you see users who come back to your video after not watching it for a while, this shows your video made an impact. They see it as interesting, so they remember it and want to refresh their memories. Assess what you did in these types of videos so you can replicate that success in the future.
To distinguish the two, check out when the specific user watched the video and for how long. Repetitively watching the whole video for consecutive days may indicate that the user needed more time to understand and digest the content.
Meanwhile, users who want to refresh their memories may come back and re-watch after several months of hiatus.
6. Video Conversion Rates
Your video conversion rates show how many new leads, prospective clients, and paying customers resulted from your campaign. Every video has different goals, like:
- Increase followers
- Explain how to use a product
- Share your expertise or industry best practices
- Boost newsletter subscriber count
- Generate more website traffic
- Buy an actual product
- Download an ebook
This conversion rate will tell you how successful your video was in hitting your targets. Understanding which videos have the higher conversion rate will help to develop a solid plan for the future content. Starting with the right foundation helps in creating quality content that resonates with your target audience. It would help to adapt your video strategies and look back on previous KPI results from past campaigns to check what is working and delivering positive outcomes.
7. Unique Users
This is a more in-depth and specific metric than impressions. It accounts for the difference between the total number of impressions versus how many people have seen your whole video. In the marketing funnel, this will help you determine how interested the people are in considering your brand.
For example, you have a high number of views, but a very low figure for unique users, this implies that only the same viewers are watching your video multiple times. This could mean two things:
- You’ve made a great impression on them so they keep re-checking your video.
- You need to work harder in making more videos to attract more visitors and generate new leads.
8. Consideration Lift
This is highly useful for measuring how effective one specific video is towards brand awareness. It is an important KPI for estimating how likely customers will convert after watching that particular video. If you have a few videos on your landing page, this will help you assess which video is the most engaging and offers the best conversion rate.
Generally speaking, consideration lift is measured by the increase in positive response from viewers after they have seen your video, in comparison to those who haven’t. This response can either be your bottom-line conversion, or the number of users taking the next steps on the buyers’ journey. However, this requires more leg work as you need to take into account other metrics during customer research.
9. Favorability Lift
If you want to make the extra effort in research, you might as well measure the favorability lift, a close “cousin” to the above-mentioned KPI. As the name suggests, this metric tracks if the audience sees your brand as favorable or not after viewing a certain video.
To achieve good results, you need to do a perception survey on your video. It would help to determine the difference in favorability among multiple videos as well as to see which videos garner the most approval. The results will help you map out future content.
10. Bottom-line Conversions: Purchases, Calls, or Sign-Ups
If you’ve got an embedded link, promo code, a call-to-action, or other relevant information in your videos, measure how many calls, purchases, or sign-ups have been made through the channel.
The number indicates if your video was convincing enough to entice your viewers to become a MQL (Marketing Qualified Lead). To attain this metric, you must provide contact information in your videos or a clickable external link that takes them to your landing page or contact page. From there, you must continue nurturing this relationship until they make a purchase.
Remember, the longer the audience watches your video, the more engaged they are with your content. This increases the likelihood of clicking, calling, or signing up, which will also hopefully provide a positive influence on your brand’s bottom line.
The CPL (Cost per lead) pertains to the number of qualified leads per month. This metric shows you how much it costs to acquire a new prospect.
You must identify how much time, money, and effort was spent on marketing videos in a defined period. From there, divide the total investment by the number of leads acquired within the period to find CPL.
When comparing with average CPL from previous periods of the same length, you will know how effective your changes have been. Knowing the results will help you assess and plan your next steps. It will also help you identify the most efficient campaigns to reach your target market.
Last but not least, monitoring the impressions you make on viewers will determine how many people have been exposed to your brand. This is great for seeing how popular or intent-driven your video is from search. The only caveat is that it is counted right after the first frame of the video is seen, so it doesn’t mean your video content is thoroughly useful to viewers.
To illustrate, autoplay as viewers scroll the Facebook newsfeed are counted as an impression. However, this does not mean that the actual viewer watched your full content. It also doesn’t measure the actual engagement of the audience. But it still works as a great KPI to measure the maximum potential for brand awareness.
Make Successful Videos That Generate Impact
In conclusion, these twelve KPIs provide the information you need to assess the success of your video marketing strategy. However, you must remember that this cannot be gauged by a single metric only. It takes an interplay of various KPIs because it gives more information, helping you evaluate the bigger picture.
For best results, you must identify ahead which KPIs are necessary for your goal. Then you must evaluate your video performance based on the KPI results. Producing videos takes effort and time. Most of all, remember the work does not stop once you upload the content on your distribution platforms. Pay attention to KPIs so you can continue producing quality content that captivates your audience and helps your brand stand out.
You can monitor your marketing videos and all the other marketing metrics you need to run successful campaigns using ClicData’s reporting tool. Centralize data from YouTube, social media, Google Analytics, and CRM system into a single platform and visualize that data in beautiful, interactive dashboards.