15 Jun Metrics Matter: How Effective is Video Marketing Really?
To answer the question: ‘How effective is video marketing?’, we outline some key metrics to look out for to measure the success of your campaigns
82% of B2B marketers experience reported success with video marketing initiatives*
Chew on that for a second. As far as recent statistics go, videos are plugged as the answer to every business’s marketing woes (and we agree). It’s not enough, however, to create a big fancy video and hope that all your lead generation problems will instantly be solved. When we ask: How effective is video marketing?, we really mean: How can you tell if your video marketing campaign is actually contributing to your bottom line?
The answer lies in every marketer’s favourite word: metrics. The little ways of tracking that allow us to measure performance. But when it comes to video, what does ‘success’ in the statistic above actually mean? Millions of page views? Sure, view count is considered a metric of video marketing, but it’s not the only one and is probably the least important when it comes to determining success.
According to HubSpot, there are 4 ways to measure the effectiveness of your video content:
1. Play Rate
Or, the percentage of visitors that click play. It stands to reason that if you have a video on your website, but nobody clicks on it – it’s probably not going to do much and your message will be lost. Luckily, small considerations like thumbnail selection, size, and placement can help optimise the way viewers see your video and therefore make them more inclined to click that all-important play button.
2. Watch Rate
Sound the same as Play Rate? Think again. Watch Rate, also known as engagement rate, is the percent of a video that a viewer actually watched. Sure, the first 5 seconds of your video might be really exciting, but is it the part that will actually convert viewers into customers? When creating a video, consider: What would make viewers watch a video all the way through? And conversely, what would make them stop the video 2 seconds in?
3. Conversion Rate
This is how you win at business. Conversions refer to the percentage of people that complete an intended action. If your video doesn’t have one, then it’s not doing its job. It’s hugely important to keep tabs on the number of leads each video generates, and the only way to do that is through clear, compelling calls to action, whether it be to subscribe to your video updates or set up a call with one of your sales representatives. By including a simple form with your video, you can generate a database of qualified leads in your pocket.
4. Social Shares
The number of times your video is shared on any given social network. There’s no better recommendations than those of your friends, family and close connections. So, the more your video is shared, the more networks it’s exposed to. The key to getting it right? Make your video shareable. Share it on your own networks, ask people to share it, create a discussion around it.
Want to uncover the true value of effective video marketing? Contact us to find out more about setting up a video marketing campaign for your business [Link to Contact Page]
- According to a report by Demand Metric & Vidyard: The State of B2B Video Marketing
- HubSpot Blog: Beyond Vanity Metrics: 4 Ways to Measure Video Marketing