A digital marketing strategy is like sailing in the ocean.
You can set your destination and navigate the best you can, but it’s very unlikely that you will reach your destination if you are not using your compass, the position of the stars or any other means of orienting yourself. You could even reach a destination without knowing if it was even the place you were aiming to arrive to in the first place. In the same way, digital marketing needs metrics. Without them, you’ll never know if you failed or succeeded in achieving your goals, or learn which marketing efforts didn’t work as expected. Explainer videos are not an exception to this rule, so here are a few stats to help you keep track of their performance.
#1: Bounce rate - Average time on page
Landing pages and home pages are natural places for explainer videos. At this point, you already have the attention of your prospect, that is now in the consideration stage of the buyer’s journey, the moment in which he or she is learning about you and your value proposition. This happens to be the best stage to use an explainer video, that exists precisely to make this clear in the most didactical and entertaining way possible.
As a digital marketer, you want your landing and home page to function as platforms from which the prospects can start to explore the rest of your site, or at least know who you are and what you do. That’s why the bounce rate is important to evaluate this page’s performance. Explainer videos are great to create engagement, so typically including them here makes this metric drop down. This usually also means that if it doesn’t drop, something is wrong with the video, and you should start looking for any problems with it. As for the average time on page, its performance is usually boosted by the presence of an explainer video. Because the users that only watch one page of the site, instead of only taking a few seconds to rapidly scan the page and leave, they start watching the video, and stay for a longer period of time. If this isn’t happening, you need to check your video for any parts that are confusing, boring or anything else that could be causing your audience to stop watching too soon.
#2: Number of views and average watch time
Making your company’s message reach your audiences may require you to place that message beyond your own site. On video hosting and social media sites, your video will have to both get your audience’s attention, and make them interested in what you have to offer (and it will most likely do so). The number of views your video gets on the different platforms will let you keep track of the first (the first what?). Your video will be competing with other videos and other sorts of content, so you will want to know if the thumbnail image you are using is catchy enough regarding the rest of your audience’s options. As for the average watch time, it will show you if the footage actually keeps the prospect's attention once he or she decided to take a look. And it can also help you find where the problem is in the content that you need to fix, if there is any. If your audience watches your two-minute-video for an average of only twenty seconds, it would be a good idea to watch the footage close to that moment to find out what the problem is.
#3: New leads
The different stages of the buyer’s journey can orient us on what type of content we should create for our prospects, regarding this particular phase of the whole process. Explainer videos are indeed best for the consideration stage, and there are specific types of content that are better suited for other stages, like the decision stage, in which the prospect finally decides to buy from you or not. However, this doesn’t mean that he or she won’t be ready to make a move as he or she watches your explainer video, and in fact, it’s more likely for your prospect to be more excited about buying from you the first time you make them interested in your proposal. This means three things: you should include a call to action at the end of your explainer video, you should also add a call to action button, and you should track it, so you can know how well this tool is doing. The action can be a small one, like completing a form, downloading information, or taking a free trial, or it can be a more important one. In any case, keeping track of the button click through rate will help you know how effective the video is at driving action.