The audience for digital video content has grown to an impressive level, expecting to reach 204.6 million people by 2017 according to a recent report from eMarketer.
As a result of video’s massive audience growth, real-time data technologies, and the potential for videos to go viral, the medium is quickly becoming the go-to format for many marketers wishing to reach a wide number of viewers across all platforms. Compelling video content has the ability to allow brands to tell their story, boost awareness, improve engagement, earn social shares, and increase conversions. Advertisers and marketers have recognized video’s potential to help reach their audience and are moving full steam ahead.
Some brands have opted to create videos for social platforms like YouTube, Facebook, Instagram, or Vine which rely on organic traffic, while other companies are leveraging paid media such as pre/mid/post-roll ad space or content discovery platforms (like ours) to surface videos to audiences before they have an inclination to search. Whatever the distribution method, most marketers see the benefit of integrating video into their overall marketing strategies, and those that are concerned with performance and conversions now have metrics and tools to help them achieve their goals.
The question is: How will you measure whether or not your video is successful?
With paid distribution, here are the key metrics that performance marketers should examine:
- Video Usage – How many total views did your video earn? What percentage of visitors watched the entire video from start to finish? Alternatively, how many minutes (or seconds) did the viewers watch divided by the total video length? Many of our clients with video content measure how many viewers reach the 15-second mark.
- Post-click activity – What percentage of users purchased a product or subscribed to a newsletter after watching the video? How many liked, shared, or left a comment? What proportion of users visited the brand’s website or clicked to consume more content after viewing the video?
The most valuable metrics vary slightly if you take an organic (free) traffic approach. Rather than focusing on video usage, marketers using this tactic are more concerned about virality, closely assessing the number of likes, shares, and comments. If the video is hosted on a website or landing page, it’s also important to examine whether or not distribution channels are driving enough traffic to the video.
Keep in mind that the rise of mobile device ownership is quickly changing the landscape. More and more smartphone and tablet owners are consuming video content on their devices, accounting for 10% of total online video consumption, according to MarketingCharts.com. Mobile video gives your brand a chance to have the same impact that television advertising has on audiences but by adding a clear call to action, consumers can also engage, buy, share, or click to watch more.
Using video to effectively communicate brand objectives and reach large audiences is not new, but rapid traffic growth and changes in viewing behavior offer huge opportunities for digital video advertisers and marketers. In fact, consumers are 27 times more likely to click through online video ads than standard banners. The challenge is in measuring the success of a video ad based on key metrics, not just eyeballs. To learn more about how Taboola can help your business launch (and measure) a successful video marketing campaign, click here.
Join the conversation! Tweet us @Taboola and tell us which metric is most important to your company.