Explainer videos are another great tool of your marketing strategy.
Besides all the interesting benefits they can bring to your business, they're also highly trackable; by analyzing some key data from Google Analytics, combined with numbers and stats from other useful hosting services, you can get a clear idea of how well they're performing,or if you need to make some adjustments in order to get the best ROI. The question here could be: once you have your video embedded in your website, what metrics should you be tracking? Find out the answer below!
Getting The Most Out Of Explainer Videos
Before we dive into the analytics world, I want to give you some background information so that you can fully understand the context of what we’re talking about.
First of all, you always have to remember that, in order to get the most out of your animated marketing video, you need to embed it above the fold in your home page (preferably), or in a landing page. Posting it only on social media platforms would be a huge mistake (plus, you'd be wasting money and a lot of effort invested in your video). These types of marketing videos are made to explain a business idea in just a few seconds; due to its structure, style and idiosyncrasy, you should always show them in your website.
Secondly, once you have your video embedded in your website or landing page, you need to give it some time to then be able to assess its performance. Time will give you the accurate information you need to understand what needs to be maintained, improved, or discarded. Magic is for fantasy movies, in the real marketing world, you need to take some time to follow up the performance of your video and make a thorough analysis of its effectiveness over the months.
4 Key Metrics You Should Track When Analyzing Your Explainer Video Performance
Of course, there are many different indicators you can track according to your marketing goals. But today we want to share with you some of the most important metrics usually analyzed by marketers who want to asses their explainer video performance.
Did you know that people tend to spend between 10 and 20 seconds on a website? The good news is that by embedding an explainer video in your home page you could increase your visitor's time-on-page rate by 2 minutes. So, when trying to evaluate your marketing video performance, a good idea is to track your time-on-page rate before embedding it in your website, and then after. If your video is engaging and interesting enough, you'll see it reflected in this number.
Another good way of assessing your video performance is by evaluating how your conversion rates behave prior to and after embedding your video in your website. In this sense, the Call To Action you place in the end of your video will play a key role. To make it simple, first have a clear idea on what your conversion rate is before embedding the video, once you embed the video in your page, give it some time. And then, after a specific period, analyze the conversion rate after its publication. If you can see that your conversion rate has increased, that’s a great signal! Otherwise, try making some adjustments to your video in general, or to your CTA specifically.
#3: Average watch-time
Getting views is great, but maybe it's more important to know how long you keep your viewer's attention. Collecting this data is essential for you to understand how your video content is performing, if a high percentage of viewers tend to leave at a certain moment of the video, maybe the content in that specific section is not working very well.
Also, have in mind that in general, you'll place your CTA at the end of the video so, ideally, you have to make sure your audience watches it all the way through to the end.
#4: Play rate
Assessing how many times your viewers watched your video is also another valuable metric that helps you understand how your video content is performing. Have in mind that the play rate may be affected by many different factors, not only the content of your video itself: where it’s placed in your website, the thumbnail it has, the contextual information that surrounds the video, and many other factors can determine how many plays your video gets.
#5: Gathering All Data
Now you have a clear idea on some of the most important metrics you should be tracking as part of your video marketing efforts.
As we've mentioned in the first few paragraphs, you can use different tools to gather specific data about your marketing videos. Of course you have Google Analytics, but you can complement that information with more specific data from hosting services, such as YouTube, Wistia or Vimeo. These sites have a robust analytics system that can help you understand in detail what’s going on with your video. If you want to know how you can use these services for video analytics, read this article.
Finally, we encourage you to keep on learning about how to measure your video's performance. Remember: you can't improve what you don’t measure!