Get Beyond Views: 3 Metrics That’ll Help You Prove Video ROI
by Kristen Craft September 26, 2013
In the world of video marketing, there are lots of things you can measure. You can measure views. You can measure how many thumbs up (or thumbs down) it gets. You can measure social shares.
But that doesn’t always mean you should be measuring them. If you’re trying to use video to push your sales and marketing teams forward, you need to spend your time measuring the right metrics. To help you wade through all of the metrics you can measure and focus on the ones you should measure, here are the three most important metrics you need to track to help build your business with video marketing. Spoiler alert: “views” isn’t one of them.
3 Video Marketing Metrics That Can Actually Impact Your Business
Definition: The number of times people rewatched all or part of your video.
You can see rewatches by an individual viewer or aggregate rewatch data across all viewers’ sessions. This metric tells you which sections of the video are most interesting or relevant — and there’s lots of ways you can use them to inform the rest of your business strategy.
Using this metric, salespeople have the potential to be far more successful at making a sale. By focusing on which sections of the video have been rewatched by an individual lead, they know exactly which pain points to address once they get on the phone. For example, a salesperson might take extra time explaining the enterprise product price structure because he saw that his lead rewatched the section on pricing three times. Mike goes into every call even more prepared because he already knows what the lead is concerned about — and he has a solution that could help.
Marketers can also use this metric to build super-targeted email lists. Let’s say a marketer wanted to nurture leads to become a qualified sales lead, he or she could segment a list based on the number of rewatches. For example, those people who have a high number of rewatches could be closer to becoming a hot sales opportunity, so a marketer might want to send them one more juicy piece of content in the hopes of converting them.
2) Engagement Rate
Definition: The proportion of how long an audience member watches your video divided by total video length. Average engagement rate refers to the proportion viewed divided by all audience members.
Engagement rate tells you how interested someone is in your company or message, while average engagement rate tells you how compelling your video is, generally.
For salespeople, the engagement rate is powerful because it lets them use their time efficiently. It indicates which leads are most interested, helping the salesperson target those who are most likely to buy.
For marketers, average engagement rate is powerful because it indicates whether a video is holding people’s attention. This can help marketers create more engaging and profitable videos in the future. For example, my company, Wistia, has found that shorter videos have higher engagement rates. This was no huge surprise, admittedly, but it did help us clarify our strategy of being as succinct as possible.
3) Play Rate
Definition: The proportion of people who play your video of all the people who view it; this equals the number of plays divided by the total number of loads on the page where your video lives.
Ideally, you want to achieve a play rate of 100%, since the play rate indicates whether your video seems appealing to watch. If people visit your page but don’t hit play, this suggests that the title, thumbnail image, or description need some work — all of which your marketing team can easily tackle. A trend of low play rate across multiple videos can also give marketers insight into which topics are most appealing to the audience so they can capitalize on engaging topics in future videos.
How You Can Track These Key Video Metrics
Keeping track of these metrics is crucial to your marketing and sales teams’ success, but it can be tough to stay on top of it all without the right technology.
If you’re a HubSpot customer, I have great news for you. HubSpot and Wistia are launching a powerful new integration that lets you view key video metrics from inside your HubSpot account. And, you can actually use these analytics to power the rest of your marketing activities — build Smart Lists, create workflows, and pull targeted reports based on your contacts’ interactions with your Wistia videos. This integration allows you to make video an integrated — and measurable — part of your inbound marketing efforts.
Check out the video below to get the full rundown on this new integration:
If you’re looking for more information about getting started with this integration, check out this help document.
For noncustomers, it’s worth mentioning that you can track these metrics with a hodgepodge of other video tools, but will require more work.
Regardless of whether you’re a HubSpot customer or not, you need to be able to gauge the effectiveness of the videos that you create, and this means paying attention to video metrics. If you’re doing video (which you should!), the strategy should be integrated with everything else you do. With the proper metrics and tools, you’ll keep your leads and customers happy and engaged, and your marketing and sales teams successful. And what could be better than that?
Kristen Craft is a big fan of technology and cool business tools. She loves being part of the marketing team at Wistia, where she helps people use video more effectively. Kristen holds advanced degrees in business and education from MIT and Harvard. In her spare time, she brews and drinks beer. http://blog.hubspot.com/video-marketing-metrics-wistia-integration-hspr http://blog.hubspot.com/author/kristen-craft
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