Video Marketing Minute: How to Measure Video Marketing Success

Hi, I'm Kate and welcome to this week's Video Marketing Minute. By now, we've stressed the importance of how to best use video in your marketing campaigns to convert leads into customers. But in order to optimize and understand the ROI of video, marketers must properly measure We found in our State of Video Marketing Report that only 38% of marketers are measuring engagement on their videos. Can you imagine a marketing department ignoring the conversion rate on a landing page? Well, that's basically what marketers are doing by only measuring views or impressions on videos. That's why we're outlining best practices and key metrics to pay attention to when measuring your video marketing success and why marketers could be missing 50% of their data. First, measure beyond vanity metrics. We found that very few marketers understand the importance of using video throughout the entire funnel, with less than half actually measuring it. Historically, marketers have paid attention to vanity metrics when it comes to video, such as views or impressions. But that data doesn't tell you the true success of your video marketing. By measuring metrics like engagement, conversions, and leads generated, marketers can gain key insights, like who is watching their videos, for how long, and at what point a viewer converts. And by ignoring this, marketers could be missing 50% of their marketing data. That could mean inaccurate lead scoring and attribution, and higher friction when assigning leads to sales reps. For example, Facebook counts a view as three seconds. But what does that really tell marketers? Instead, we urge you to pay attention to VCR. That stands for Video Completion Rate. This helps marketers understand how engaging their content really is. Investopedia told us that they use this metric to define KPIs for their video content, and have set a goal to have 80% of their videos at least 95% completed. Second, don't get stuck measuring videos on a social media platform. YouTube and Facebook are great channels for sharing videos and promoting messages. But they limit the ability for marketers to see insightful data that will help inform their strategy. By directing viewers from social channels to long form content hosted on a website, marketers can control the user experience, keeping their audience engaged for longer, and generating the metrics that matter most. In fact, we found that only 38% of marketers measure video engagement data on their website. Hint Health does a great job of directing prospects to natively hosted videos, where they can keep their viewers engaged for an average of 27 minutes, and from there measure which video converts best. Lastly, use a video marketing platform. Doing so enables marketers to host, distribute, and properly measure videos all from one place. With a video marketing platform like 23, marketers can create video hubs on landing pages, whereas mentioned previously allows for a controlled user experience, fosters engagement, and generates data to better inform marketers about the success of their videos. In addition, 23 can send video engagement data to a marketing automation software, giving marketers a more granular look into certain contact behavior. In fact, the Danish company Lederne saw an increase in inbound traffic by three times through using a video hub to measure their video traffic. Thanks for watching. Follow us on Twitter to catch next week's episode, and tweet us your video marketing questions at 23.