Video publishing on the Internet is set to explode in popularity in the next two years, as businesses and brands look to enhance their user experience online.
Last year Facebook announced that it was achieving a staggering 8 billion daily video views, and suggested that there would be a continued steep growth in video publishing this year and next.
A separate survey also found that 70% of digital marketing executives plan to increase their spend on video in 2019.
As the growth of video increases, so too does the requirement to understand the metrics behind video. The growth in analysis is benefitting everyone involved. It won’t stop the videos of cute kittens appearing, but if the ultimate goal is to increase conversion and generate sales, it’s probably not the best option.
The key to social media video is click through rate, and a fantastic call to action, which produces solid conversion in a sales funnel.
It is pretty well understood that social media is primarily an entertainment platform now. Getting attention or what used to be called a share of voice, with so much choice and saturation online is a problem. Consistency can overcome this problem, but it demands resources and time.
To understand how best to manage video publishing, it is worthwhile to take time to look at some of the fundamentals of the process.
Everybody talks about views but what does it actually mean? What exactly is a view? According to the networks and particularly Nielsen – the ratings tracker, a view is not the whole video but the first three seconds. This is not an arbitrary figure; it’s based on Nielsen’s belief, that close to 50% the value of the video campaign is actually derived from the first three seconds of a video.
Other metrics that matter include the total watch time, in minutes, i.e. the time your viewer spent in front of your video watching your campaign.
Facebook and YouTube both believe that there is a definite link between the quality of the video presentation and the minutes viewed.
This is hardly surprising as for many years Google and Facebook have talked about producing compelling and targeted content- so it’s the same with video.
It’s also worth looking at the average viewing time of any particular video. Basically this gives an indication of the average time the viewer spends watching a video, before clicking off.
Other useful metrics include: how much of the audience is retained through the whole video, and how many videos are watched with sound on or off.
The latter being very important if you are using the narrative to get key facts across, you might want to consider captions.
Social sharing is still an incredibly important part of video marketing and according to Facebook 48% of videos watched on the network come through a share.
But for digital marketing executives the most important metric has to be the click through rate, and the ability to convert the entertainment value of a short video on social media to a sale on a website.