You’ve just shared your video with the world. The view count is coming in and looking at the numbers, you feel the investment was worth it. Should you be excited? Well, not just yet.
To be honest, the view count is the least important metric because it doesn’t really come close to the only metric driving your video strategy. In fact, what counts as a video view on many social platforms is 3 seconds or more, or just opening the video. Fortunately, there’s a list of other metrics that actually expose how viewers perceive your content, how much time they spend on a video, the percentage watched, their concerns, and more.
Before we delve into the what metrics you should be considering, be sure to outline the goals and objectives surrounding your video strategy. Savvy marketers always have objectives they hope to achieve with video. Goals should be tied to the specific metrics that relate to them. Obviously, you will want to pursue more than one metric to ensure you get a holistic view of how your video is performing.
In the blog, I have identified five of the most essential video metrics to measure the success of your campaigns and utilize to move the needle for future video strategy.
Remember: some video platforms may not present all the five metrics we will examine. In this case, go ahead and work with those you can access.
1. Play Rate
Play rate represents the percentage of people who clicked play and watched your video.
Here’s the formula:
Play rate = % of people who clicked play/ total number of visitors who access the video landing page
This metric is tied to how effective the position of your video was, its size, the video thumbnail, and whether the copy around the video convinced visitors to press play and watch your content.
For an optimal play rate, here’s what to keep in mind:
- Your video has to be positioned in a sweet spot (above the fold in a landing page)
- The size has to be moderate (Wistia encourages 401 pixels x 600 pixels)
- Your video thumbnail must be eye-catching, engaging, and relevant
- The copy around your video should be persuasive, accurate, and brief
2. Social Sharing
Social sharing reflects the number of people sharing your video across different social platforms.
Consider these three aspects:
- If someone feels they should share your content with their friends and the world, it means they appreciate it
- Shares add credibility to your content because it’s evidence that there are lots of people who believe in your content
- Shares lead to the creation of a broader community that is brought together by your content
If your goal is to create brand awareness, more shares mean that your brand or business is recognized by a ton of people, not to mention that it presents an opportunity to access more leads and convert them into customers. It’s in your best interest to create video content that is worth being shared. If you have, you may find viewers or influencers will happily share your content because they found it to be valuable. Be ready to do whatever it takes to create shareable content.
3. Engagement
Engagement metrics typically include the average view time and the percentage of your video that people actually watch.
Here’s the formula for average view time:
Average watch time = total watch time of your video / total number of video plays, including replays
Some platforms even display the different times where your video is being rewatched. Remember to note the drop-off times as this will help you figure out what your audience liked or disliked.
Your goal is, of course, for people to watch your video to completion, especially if there’s a call-to-action at the end.
For this to happen, you must:
- Share information that is valuable to your audience
- Make the information clear and interesting
- Keep your videos short and to the point
Something else to note is that engagement also arises out of loyalty and familiarity with your brand, content, and chosen channels. Initially, the numbers will be low, but as your audience and following grow, you’ll see improvement. Great brands weren’t built in a day, just like Rome.
4. Comments/Feedback
Comments and feedback are a little different from the other metrics because they involve qualitative data as opposed to numbers and rates. Observe how your target audience is reacting.
Best Practices:
- Listen to your audience’s thoughts and respond when appropriate
- Find out if your content resonates with viewers
- Interact with those who leave feedback, even negative feedback
All of the information you gather will help you to create content that is more customized to your target audience.
5. Bounce Rate
If you’ve placed your video on a landing page, this is another metric to watch out for. Bounce rate represents the number of visitors who access your site but then leave without checking out other pages.
Here’s the formula:
Bounce rate = total number of visitors viewing one page only/ total number of visits
Assuming that your landing page consists of a video and includes links to pages or forms to fill out to complete the conversion process, the more significant responsibility lies with your video. It should convince the viewer to stick around and complete the conversion cycle. If the rate is high, it means your video landing page needs a makeover.
To correct this, optimize the following:
- Page load time
- Navigation
- Video position, size, and quality
- Landing page design
You will likely come across many other metrics across the web. After all, we all have different goals we hope to achieve with our videos. Nonetheless, what’s clear from the five we’ve looked at, is that they have the potential to leave a tremendous impact on a video strategy, and eventually, revenue.
Beyond quality metrics, those who create quality and well-thought-out videos stand a chance of experiencing better results. So, as you’re developing goals and tieing them to metrics, remember to dedicate just as much time and resources to the video creation process.
What metrics do you use to measure the success of your videos? Do your metrics differ from the ones I’ve described above? I’d love to hear about your process in the comments.