97% of marketers say that video has definitely played a huge role in making their audiences understand their products and services more. The question is, how do these marketers know that their videos are indeed working and how to track video marketing success?
As with any other digital marketing channel, it is important to know what KPIs you have to track to see how your video campaigns are progressing. These KPIs would have to measure three critical factors in video marketing – awareness, engagement, and conversion.
KPIs that help to Track Video Marketing Success
KPIs that Measure Awareness
Awareness measures how well your target audience knows your brand, products, and services.
The attitude of today’s consumers should tell you why it is highly important to track video marketing success. Everyone is now more hands-on in the way they make their buying decisions. Traditionally, they would buy anything that has a good infomercial. But because modern technology now allows consumers to do their own research, it is important that the right people easily find your video content.
These KPIs should help you ensure that your video campaign raises enough awareness and becoming a success:
- Reach – measures the number of people or households that have been exposed at least once to your video content.
- Impressions – measures the number of times an ad is fetched (but not necessarily clicked).
- View time – measures how long the audience watches the video before opting out.
- Video completion rate – measures how many viewers finish the video to the very end.
- Brand lift – measures the increase in interaction with the brand as a result of the video campaign.
KPIs that Measure Engagement
Engagement measures how well your audience interacts with your content. Leaving a comment, sharing your video, or clicking on an embedded link to your content are examples of engagement.
It’s one thing for audiences to watch your videos, but it’s another thing to actually make them want to be more involved in the process. To know, you must be able to track video marketing success. High engagement rates mean that something about your videos triggered something in the viewers that make them think that merely watching is not enough. They feel the urge to take some sort of action.
These KPIs can be a great way to measure the amount of video success and engagement on your videos:
- View time
- Video completion rate
- User interactions – measures how many people interacted with your video content by commenting, sharing, liking, or performing any other action.
- Click-through rate – measures the number of times your people clicked your video ad.
KPIs that Measure Conversion
Conversion measures the percentage by which viewers heeded a call to action. This is also the best way to measure ROI.
A lot of factors contribute to great conversions and making your video a success. Although calls to action are among the most popular elements that trigger conversion, sometimes, people purchase a product or sign up for something even if it mentions a call to action.
Although conversion rates can be measured on its own, these other KPIs can help you understand your numbers further so that you can track video marketing success:
- Cost per completed view – measures how much you pay every time someone watches your video ad until the end.
- The Cost per click – measures how much you pay each time someone clicks on your video.
- Cost per action – measures how much you pay for specific actions, like form completions, sales, newsletter signups, etc. as a result of your video campaign.
Finding out how to measure each of these metrics is really important. It makes it easier to see how much success your videos are bringing in and if you should tweak or remove anything.