I think that we addressed this subject many times, but it’s always a good time to mention the importance of measuring your online marketing efforts in general, and video marketing efforts in particular (hey, that’s what we do!).
You can have the best explainer video you could ever imagine, but if you are not able to analyze the impact it has on your audience, it will all be in vain. Today we want to share with you 3 basic tips that will let you get involved in the fascinating world of video marketing analytics. Join us!
1) Analyzing the KPIs
Although some time ago you -as a marketer- only had the chance to collect some basic information about the performance of your videos (such as the number of views and plays), today you can have access to complex and highly valuable data that enables you to make wiser decisions.
Analyzing KPIs (Key Performance Indicators) for your videos in particular, but really for every marketing campaign or initiative you carry out, is essential to identify what can be edited, tweaked, adjusted or maintained to meet your marketing goals.
As a first step, you need to select which KPIs you want to measure (and that will be relevant for those marketing goals, of course). There are several metrics you can work with. Just to give some background information, take a look at this blog post that goes over some common metrics utilized in video marketing assessments.
2) Choosing the Right Tools
There are many different companies out there that provide in-depth analytics on video performance (some of them are paid and some others are free). These popular video hosting sites give you the chance to collect specific data and organize it through helpful dashboards to have a clear idea on what's working well and what needs to be adjusted.
At Yum Yum Videos we use Wistia and we recommend them, but of course you can find many other alternatives. Let's take a look at some of the most popular paid hosting sites:
Vimeo: It´s a very well-known video platform with great hosting capabilities. It has many years in the market, a great focus on quality and a huge community. These analytics tools can be a little more basic than other hosting sites.
Vidyard: it offers a comprehensive reporting dashboard and integrates it with major Marketing Automation and CRM platforms to give marketers access to real-time video viewing data.
Wistia: It's a full-featured video hosting service that offers great video quality and a robust analytics tool. One valuable insight is the ability to see when viewers drop off of your videos. Another fine feature is the possibility to add gates (forms that enable users to continue watching a video), and a complete brand customization capability for embedded players.
Tip: besides these paid hosting sites, you can also use popular free tools such as YouTube Analytics or Google Analytics. Try them out!
3) Creating Customized Dashboards
Finally - and independently of which tool you choose- we recommend that you create a customized analytics dashboard. By doing this, you have the possibility to fully concentrate on the data you want, without the need of dealing with irrelevant information for your specific objectives, or what metrics you want to show.
Plus, a custom dashboard enables you to access data in graphics in order to have a clear and organized “picture” of how your videos are performing (by analyzing the data you REALLY care about, based on your specific marketing goals and needs). This way, you'll also be able to follow data over time and compare different periods.
Final words: tracking your video performance is essential in order to truly understand what needs to be improved.
Psst! If you already have an explainer video embedded in your home page, read our article that analyzes 5 metrics you should be tracking! ;)