Join our Video HUG to learn about video marketing strategies. We will cover topics such as incorporating video into your marketing, sales, and customer service efforts, setting up your own video studio, and getting your video and podcast series kicked off.Engage with us on the Video Marketing Study Group in the HubSpot Community.
You made an engaging marketing video, but what now? Want to learn more about opportunities to measure video success and performance? Let’s take a closer look at key video metrics to pay attention to, optimization opportunities based on statistics, free tools to help measure performance, and more.
The State of Video Marketing
Wyzowl’s State of Video Marketing Survey 2021 has just been released and has a lot of data on how the trends of video marketing have changed.
This first graph shows the number of businesses using video as a marketing tool from 2016 to 2021. There was a large increase between years 2017 and 2018 going from 63% to 81% and that number has only continued to rise. This year, 2021, we are at a 41% increase since 2016.
The number of businesses using video as a Marketing Tool has increased by 41% since 2016
This next graph shows whether marketers consider video to be an important part of their marketing strategy. This number has again continued to increase over the last few years and this year sits at 93% which is a 15% increase since 2015.
93% of marketers who use video say that it’s an important part of their marketing strategy.
This last graph shows whether marketers use webinars as a marketing tool. Webinars have been considered the video success story of 2020 since in-person events were not possible due to the pandemic. In the last year, webinar usage has gone up 16% and 91% of marketers say that the webinars have been successful as a part of their marketing strategy.
WEBINARS were the video success story of 2020. In 2020, just 46% used webinars – but in 2021, this rose significantly to 62%
How to Start Measuring Video Marketing Success
The first step is always to start with the objectives of your video project. From there, you can tie specific metrics to your goals and begin measuring success. The more initial planning you do for your video content, the easier reporting on metrics will be.
It’s important to track more than one metric to ensure you’re getting a comprehensive view of the success of your video content. However, if you’re trying to track too many metrics without understanding the impact on your goals, then you probably haven’t narrowed down your objectives enough.
Elements to Optimize Video Performance
There are several elements and questions that you need to ask yourself when creating your video content. Once you have these answers, you can begin optimizing your video performance by publishing, promoting, analyzing, and repeating your video efforts.
7 Metrics to Focus on When Analyzing Videos
When it’s time to start analyzing your video performance, the amount of metrics to track can be overwhelming. The following are seven easy metrics that you can start measuring to begin understanding your marketing efforts.
1. View Count
View count is the raw number of times your video has been watched. It also indicates the ‘reach’ of your content. It’s important to remember though, that every platform tracks this metric differently. For example, YouTube’s view count means that someone has clicked on your video and watched a full 30 seconds, whereas on Facebook they have to click on it but only watch 3 seconds, so there is a large difference.
How to increase video view count:
2. Play Rate
Play rate is the amount of visitors to your page who clicked ‘play’ and began watching your video. This is a good metric to track to understand the placement of your video on the page. If you are having a lot more visitors on the page but not a lot of video plays, you may need to adjust where the video is on the page. Your visitors need to be enticed to watch your video and certain locations may work better than others.
How to increase video play rate:
Engagement shows how much of your video the visitors watched. This metric is shown as a percentage. Average engagement shows you how much of your video all viewers watched on average and this is also shown as a percentage. This is a useful metric to be able to see how long people are watching, where they might be stopping, and where they may have rewatched parts. Engagement is also relevant to every type of video in the industry.
How to increase video engagement:
4. Click-Through Rate
Click-through rate or CTR, is the percentage of viewers that click on CTA’s you include in the content. Adding these to your videos encourages viewers to take a specific action and ties in on engagement. It’s the most important metric if you’re looking to drive your audience after watching the video. However, make sure the CTA that you are adding matches the type and tone of the video.
How to increase video click-through rate:
5. Social Sharing
Social sharing shows how much people are sharing your video content. This is measured by numbers across social channels. This is a good measure of how appealing your video is to your target audience and how likely they are to share this content. Although by itself this metric may not mean much, social sharing leads to more views on your videos and can lead to greater brand awareness.
How to increase video social sharing:
6. Conversion Rate
Conversion rate is the number of leads or customers that you have gained thanks to a piece of video content. This usually requires a separate analytics software (like Google Analytics or HubSpot) and works hand in hand with an attribution model.
How to increase video conversion rate:
Feedback is how the viewers react to and comment on your video content. To get a true feel of the reception of your video, you really need to listen to your target audience and the communities that they engage with. Gauge the feedback you receive to help understand the viewer’s emotions and make improvements on the video if necessary. Don’t forget when you’re looking at this metric that it’s more of a human aspect than a data figure.
Tools to Measure the Success of Your Videos
There are several different strategies for marketing, two of the most popular being lead generation and brand affinity. According to HubSpot, lead generation is defined as the process of attracting prospects to your business and increasing their interest through nurturing, all with the end goal of converting them into a customer. Brand affinity is marketing so that people become aware of your brand.
It’s important in the early stages of planning your video marketing efforts that you know which marketing strategy you will be focusing on. For example, creating a video series is a better strategy for brand affinity than for lead generation where you may use video to guide a prospect through their buyer journey.
Although brand affinity may feel like you’re trying to track how people are talking about your brand, there are metrics that you can use to track its impact and even see how it’s impacting your sales efforts. Our top choices for video optimization and analytics are HubSpot, Wista, and Databox. In order to see the highest level of data that we can for us and our customers, we’ve combined them and can see a much bigger analytics picture.
Start Tracking Your Videos
In order to track view count, play rate, view engagement levels, etc. that we discussed above, you should upload your videos into Wistia. Wistia has some of the best tracking tools available and allows you to directly embed your videos on your website. These video embeds are still videos that will be found by Google and will pop up in search results, but instead of sending them to a YouTube video will send them to your website.
Wistia offers a lot more customization options with their videos as well. You are able to crop videos to get better engagement and change the color of the play button so it matches your brand colors. You can also add CTAs to the end of your videos to continue driving your audience towards a specific task.
Video Marketing Optimization
Once you begin doing video optimization, you can start differentiating what things actually create an impact. For example, one of our clients had a long and stylish home page video with reasons why you should work with them.. While it had a lot of views, there was a very low engagement rate. So we created a shorter and very value oriented video for them and immediately saw higher engagement and click through rates, but most importantly their conversion rate grew 25 times from one video to another. This level of impact is what can happen when you’re actually looking at the numbers and tracking them on a per video basis.
Understanding How Video Affects Your Leads
After you’ve examined a per video analysis, you need to start looking into how this video can affect your leads. Integrating Wistia into HubSpot allows you to see more into how your videos are impacting the buyer’s journey of your customers. As shown in the image below, this client’s customer watched 14 videos on 6 different website visits and totalled over 45 minutes of watching these videos before eventually making a purchase.
When you start measuring your video success with HubSpot, you’re able to understand which leads are watching videos, the rate of customers closed who watched videos, how your videos grow over time, and the impact of video on your sales funnel.
YouTube vs Vimeo vs Wistia vs Vidyard
There are several options to choose from to host your videos. We’ve broken down four of the most popular to help you make the decision that’s right for you and your business.
Many people choose to use Vimeo because they have a paid subscription that gives you even more metrics and you can customize your videos to look better than a YouTube video embed. However, if you are thinking about choosing Vimeo, we suggest that you actually go with Wistia or Vidyard. The reason is because you will not only be losing money, but losing your ability to use YouTube and its powerful search engine. Furthermore, Wistia also allows you to customize your videos however you want.
Vidyard natively integrates with HubSpot and is better to use if your focus is more on sales. It’s a simple tool to use and has comparable pricing to Wistia. Vidyard also has a highly flexible feature with its buttons that allows for more creative potential in videos.
When it’s time to start analyzing your video performance there are many different metrics and tools that you can use to ensure success. Contact us to learn more about our video services and how we can help you.
This content was originally published here.