View transcript
Perfect, so welcome. I'm Steffen. I'm a co-founder and CTO here. What I'll do for the next 15 minutes basically will be going through some stats and some metrics for how our customers are starting to use video for marketing in a different few venues. I'll recap a few things just to get your sense of who we are and welcome, obviously. First of all, we've been talking about video, and I think you guys have been talking about video for 10, 15 years. It's this idea of being able to do communication storytelling really well. What we're finding increasingly is that there's a second bit of this that's also not about being good at playing video, but also being good at playing video in order to get results of it. That's a lot of the trajectory that we're on as a company. When we talk about video marketing and talk about video as being this leader, not necessarily in terms of driving place and driving advertising, but also driving actual down business value from there. We've built a video marketing platform that allows customers to run video across the different channels. Increasingly also to do detailed scoring user journeys through not only knowing how many people play, but also who's playing, including the ability to do collectors gating a video, knowing basically the identity of people and how that feeds into the marketing funnel. This is all something that is really data-driven. It's not about the video and the video looking right. That's hugely important, obviously. Second bit of it is also making sure that that data is connected to the rest of the marketing stack. That includes really feeding data into all the common web analytics platforms, remarketing, and increasingly also into marketing automation. From our perspective, it's really figuring out how video feeds into the stride of going from being webmasters that are basically managing websites, that's managing the CRM, into really figuring out how does video fit into this new paradigm of basically managing relationships, managing experiences, obviously recommendation, personalization, all those kind of different things that we'll also be talking about today. With that in mind, we've also basically been launching our partnership with Hopspot. Hopspot is the market leader in marketing automation. I think between 25,000 and 30,000 customers are all using their inbound methodology to run basically a marketing stack. That's everything from running email, signups, conversions, lead nurturing, and landing pages. We're really excited about this idea of how video fits into that because video is still this idea. We're still talking way too much about the top funnel idea, what is the reach of it. That's hugely important again, but it's really about figuring out in 2017 what is the next step from there. How do we build from reach to engagement and into ultimate business value? I think going through the program today, there's also a lot of different takes on that, and this is certainly ours. When we talk about 2017, what I've done is basically collect metrics from our customers. We've spent some energy in cleaning up the data to a point where we have customers that literally produce 200,000 videos a year, and that are auto-generated for obvious reasons. Some of our customers have been removed from these stats just because they would be outliers and heavily skew some of the metrics, but we've basically selected out 300 marketing teams that are running the platform for doing video marketing in different guises and different ways. Covering about 1.7 billion impressions and about half that in terms of number of plays. What I'll talk about is basically these different metrics and how they apply. Obviously, very top funnel on the metrics of reach, how audiences are being built, how audiences are being engaged on that, and finally also how this matters for conversion metrics, for permission building, for lead building, for contact building. On the reach side, this is my new favorite metric. We've been talking a lot about how video will change in 2020 with Cisco reports of 80% of the internet being video. That doesn't really matter, but I like this metric of this is a scientific report that came out a few years ago that basically measured how many times faster the human brain processes video. I think this is the interesting thing on the why video part. On the other side, it's also really about figuring out how video in terms of our businesses. I'll run through metrics here. If you have questions, if you have comments, whatever, I'm around, we're around, and we're more than happy to talk about how these apply to specific businesses that you're in. First of all, there's the standard metric that everyone will have their own variations on, is the idea of mobile versus desktop. We've been tracking this for the past three years at least and have been seeing a fair shift in terms of the devices that are being used. But surprisingly, actually, the shift from desktop to mobile seems to have run its course and found this kind of steady state. It might be that for some of you, it's half and half, 50-50 between the two different kinds of devices. But for us, across basically almost two billion impressions, the general vibe here is that we're getting to a point where mobile is accounting for a little more than a third of every engagement, but also something that seems to have steadied out. The shift from iOS to Android that was happening a few years back is also something that has steadied. So if we compare numbers from Q3 last year to this past quarter, Q2, actually the share between iOS and Android on our customer base is hugely steady, which is annoying to start out. There's no big trends here, right? In terms of channels, this is where I think we've seen the major strategy shift over the past few years. So if you look back two, three years ago, basically people were talking about there's a category of own video. That's basically what can I do on my own website, but also what can I do on YouTube? So that perspective has changed vastly in terms of what are the channels where video are expected of the reach. So when we talk about reach on social media, there are two questions to kind of be answering. First of all, can I drive impressions? Would those drive place? And finally, what are those plays actually worth to me? And obviously the business metrics of those are going to vary a bit, but on the overall metrics, we can start seeing a very kind of steady pace here where if you get an impression on, if you basically get in a user's feed on Facebook, 18% of those will actually play the video. Only half of those people would do the same on Twitter. On own media, it's kind of in the range of twice the Facebook rate. So in this case, basically kind of when there's a player, people will click play 36% of the time on your own sites whereas only 18% will actually start counting as a play on Facebook. These metrics are shifting a bit. When we did these metrics a year ago, it was much more kind of competition between Facebook, YouTube and own media. What we're seeing is trend in 2017 where the own media is basically running away with engagement. So in one version, it's about figuring out, hey, I get some impressions, do those convert into plays? That's one part of it. On the second tier, it's also about figuring out what can I actually do with that play? Are people sticking around on Facebook? People will watch 20 seconds on average. So that basically means you feed 100 people with the video, 18 of those will watch the video, and those 18 people will watch for 20 seconds. So that's a harder business model in a lot of different ways. It means that you need to drive a lot more reach. Whereas on YouTube, you're getting three times that. People will watch an average of 58 seconds. Whereas on own media, in our sample set here, we're actually getting engagement that's ranging into the four minutes. And that's kind of the bridge into talking about the second tier here because obviously reach is hugely important, but I think where we're starting to see results come from is from the level of engagement and certainly from conversions down the line. So there are a few different ways of measuring engagement. One would certainly be this idea of length. So this is a chart that you've seen a million times, maybe not in this specific form, but in various forms. So this basically charts out when do people drop off? How much do people watch my video? If you do extremely long videos, people will only watch like 30, 35% of it. Whereas if you do very short ones, you basically get people watching the entire messaging of your content. And we've seen this fallacy for a long time. I think I've been doing various versions of this talk for 10 years now. And for 10 years, people have literally been saying, okay, so people drop off after the first minute. Well, why would we even bother making something that's more than 90 seconds? That's kind of borne out by facts. So these are two different metrics. This is basically kind of what are people producing? What are the videos that are going out? What are the marketers that we're seeing or tracking? What are the producers? Basically, half of their videos are less than two minutes. 80% of them are less than five minutes and very few minutes go into the 15 minute plus mark. And there is not exactly a one-to-one relationship, but very close to a one-to-one relationship between what is being produced and what is being played. There doesn't seem to be any correlation specifically between whether people click play on a short video or a long video. So short videos are played slightly more, but the same general fractions are accounted for. So the weirdness of math becomes that if you have a longer video, people get to watch it for more and they certainly also do. So these are the metrics for basically how long do people spend watching a video? If they click play, how long do they actually spend? Obviously, if the video is less than two minutes long, they won't spend more than two minutes watching it. If it's 45 minutes plus, they'll actually on average spend like 31, 32 minutes watching it. So the math of this works out in this weird way where the fallacy of this 90-second video becomes kind of interesting. Because if we see the same things, like what are the videos that are being produced and what are the videos that are actually driving engagement for my business, there's this weird skewing where you end up having literally 3% of all videos driving 30% of all engagement. All engagement mainly spent on video content. And on the other side, if you see the cohort here of like less than five minute videos, those guys are actually only driving less than a third of all engagement of videos. So in one way, this is kind of logical, right? It's like there's a sense that, hey, my video is short. Obviously, people can spend a lot of time with the content. On the other side, it's also a huge opportunity to figure out how do we build a business upon engagement. This is all about eyeballs and minutes watching the opportunity to monetize in a way, the opportunity to convert in a way. But it's also an interesting way of looking at it where there's an opportunity lost. And this is an opportunity lost in basically all of the business that we're tracking. So this is not a general view where this is all evening out. Very few users are getting to a point, even very few customers of ours are getting to a point where they kind of subvert this fallacy. So, yeah, 80% of videos produced account for less than a third of all video engagement. We're starting to do tracking for live. I have a few metrics for that as well. So no nice charts or whatever. But basically, if you've seen the exact same metrics for on-demand clips or for video clips that I showed you before, you can basically free X that if you're doing live. That goes pretty widely for all of our customers. And this is a metric from Facebook as well. Literally, if a video is live, people will spend three times as much time watching the exact same content, which is kind of a weird thing. And that's a weird thing. Again, it's a huge opportunity to figure out how does that fit into my funnel, into my business. And on the other side, it also is this kind of mandate to figure out what does live actually drive for us when you figure out the two-thirds of the engagement for any livestream actually doesn't happen live. It actually happens afterwards. So 67% of all the watch time for a live event happens after the live event is over. So again, it drives a few different strategies to not really think about what can I put in front of viewers for 20 minutes while I'm live, but actually how do I use live to overlap and kind of build my audience. So the final thing I wanted to talk about for a short while here is the conversion bit. So if you remember upfront, I spoke about this idea. Yes, we want to be driving reach. We want to drive impressions. We want to make sure that those convert into place. We want to make sure that those plays actually stick around to a point where I can build value from my user, from my from elites. But certainly what has been a suggestion for both how we think about our product, but certainly also kind of how the marketing teams are starting to approach this is that conversion matters hugely. So conversion is obviously about clicking advertising, but increasingly it's also about kind of figuring out the second bit of all. Never do animations. Let's see. There we go. It's really about figuring out like how does the how does the result oriented kind of return investment driven part of my video funnel work because video has as kind of the stats before proof. Previous pre sticky people watch for minutes of the video on average in in in own media cases. But on the other hand, it's also about figuring out like what those four minutes are being being used for to actually drive this kind of result oriented business. And what we're seeing increasingly is this idea that video will drive more permissions. I have some stats in terms of how you do conversions based on video. I'll show you a bit of how we do it, but also that video drives of the value of permissions. So these are two different arguments for video. This is not a qualitative thing. This is not about you can have better human conversations with your users from your customers. You can tell different stories. It's really about saying if you do video, you'll actually convert more of those eyeballs, those viewers into people that you can engage with. Also like that a part of your audience. And finally, you can also take every permission and actually drive of the value of that. So this is a fairly simple case. This is the volley. The Danish World Bowl Association and what they've done is basically different starting to use some of these metrics for for live to build an audience around their content. And essentially, I don't know what the metric here is. It's like a staggering one where people actually when they watch a live stream stick around for one hour and 45 minutes and really using the and is actually gated content. So that you get to a point where you you're building this audience basis contact base and you have a valuable more mode for for actually engaging those guys. So yeah, more permissions. This is the market benchmark. You've all been to a blog and you're probably starting to use this kind of like interrupt the pop ups increasingly yourself. The market benchmark for the optimal conversion rates and these pop ups. The one where you basically kind of you've watched some content or you can where you can skip it or you can can either fill or you can fill in the form. Sorry is that you get essentially if you're really good, you get 4% of the people that are shown a pop up like that to to be converting. Whereas video collectors kind of like where you actually getting content away, interrupting along the way have different kinds of metrics. So this is based around roughly a quarter million impressions of a of a collector form and what happens here is basically we have the ability to show these forms in different ways. It can be gated before the video. We basically require information to watch the video that you want to watch. We can interrupt people during the flow. Obviously the 22% here is an average depending on how heavy your your your placing it. You should place it at the start of the video. It'll convert better if you place in the end of the video. It'll convert worse, but as a general thing, almost 60% of the people that see a video where where they're asked to to convert with an email address with a name will actually fill in that information, which is a like say just a very different even a different paradigm from the 4% before. During video 22% conversion rates and after videos 2% we have customers that are getting 79% conversion rates on live events. So again, live events are these weird things where there's a kind of natural urgency in terms of getting people to to onboard in a way. And that's also why some kind of somebody like the Danish Rollable Association are using live to really be driving their their content because it's an extremely efficient way to build the audience base. More valuable permissions also this idea that video will drive more engagement video will drive higher conversion rates in a lot of different cases. A very simple one here is that we ran a few tests actually free of 40 from test with customers and pretty consistently see an email conversion rate that goes up by 62% if you include a video from there in your email campaign. So this is basically the same email going out just with a button compared to a to a funnel with a play button and like so it's literally the same audience base the same idea. But just 62% more people that actually come through the come through the funnel. And finally, and this is a screenshot from within HubSpot and this is a kind of annoying one to to end on because this is where this is not just about using video producing nice video putting video into into pages and just leaning back and seeing how everything flows because this is the second tier where you starting to see the data around video depending in our case where the people watch a case video where they watch that case video for more than 50% if they are highly engaged in the work. And this is the way with the watch more than five videos that are relevant to our business. We basically can segment those people out and start driving different kinds of value and more targeted value from from those permissions and I think that's also kind of the trend that certainly that we're seeing now with with our marketing automation integrations but also more widely is this idea that yes we can produce content yes we can do is printed content that looks exactly right and it feels right that will basically feed a business but the clever we become in terms of using that data to run segmentation to the point where we can actually see the data. To run funneling to run lead nurture even permission nurture the better we can be not only at converting those permissions but also to actually use those permissions to to basically increase the value of it and going from a 50 Krona a year permission to an 80 Krona a year permission with the same permission base just with more data is hugely advantageous for for business. So that's the that's the huge recap this is me rock walking through a lot of metrics in a very short time and I'm very curious I'll stick around will also be sticking around afterwards to to hear kind of how this message with your experiences but just to sum up there's a lot of of thinking about how video drives reach how drives engagements but also increasingly how it drives conversions how it drives segmentation and how that fits into to your overall business metrics more than just your communication story. Thanks guys.
