Measuring the Success of Your Video Marketing
You already know that your business should be doing some form of video as part of your integrated marketing efforts. So you don’t really need a survey from Demand Metric to tell you that 95% of executives think video is an important and valuable form of content. But it might help to know that 70% of those same people surveyed thought video marketing worked as a better conversion tool than other forms of content.
What Do You Want To Do With Video?
Video is now the preferred form of content used by businesses to achieve three primary marketing goals:
• Build brand awareness: 52%
• Generate leads: 45%
• Improve online engagement: 42%
Entrepreneur points to an instructive example of successful video marketing. As a startup company, Dollar Shave Club produced a video that has now been viewed over 24 million times. But just as importantly (if not more so), within a year after airing the video, the company received $10 million in venture funding.
According to James Brooks, CEO of Glassview, the secret to online video success is more than simply number of views. The trick is to get your video seen by those who will promote it further by sharing it with others.
The number of views is an important benchmark for gauging awareness, but that number by itself can’t show much else. Here are three different ways to help you measure success, beyond simply number of views.
Three Video Success Metrics
Completion Rate—Reveals how many times your video was played to the end and is best for brand recall.
Click-Through Rate—Shows how often people click on your video while viewing. If your goal is to drive traffic toward your website, you want a high click-through rate, but a low completion rate. You can’t optimize for one without reducing the other.
Share Rate—If your goal is word of mouth, you want to increase the rate of sharing by your viewers. Create content that evokes strong emotions, whether through humor, empathy or nostalgia. Be sure to include your logo and social icons for easy sharing.