Video content has been an important element in digital marketing in recent years. Since the rise of YouTube and the sudden popularity explosion of TikTok, online businesses have jumped into video content creation as part of their digital marketing efforts.
But even though your digital marketing team is posting videos left and right, live streaming to an audience every now and then, and trying out every popular social video trend, it wouldn’t immediately translate into a successful video marketing campaign.
Because of the diversity of social media platforms and the increasingly high level of competition among other online businesses and ecommerce stores, boosting their online presence and increasing visibility through video content can still be challenging.
Given the time, resources, and effort it takes to post quality video content consistently, it’s important that the marketing and production teams for this video marketing campaign work as cost-effectively as possible. Taking this into consideration, video content marketers should know how to accurately gauge their campaign’s performance.
With that in mind, here’s a quick guide and overview of the different success metrics and key performance indicators to use in your video marketing efforts.
The State of Video Marketing in 2022
Before we go through your video marketing key performance indicators (KPIs), let’s take a closer look at what video marketing in the ecommerce sphere truly looks like. Video marketing refers to the use of video content in order to promote or advertise a product, good, or service.
According to the latest reports, 86% of digital marketers use video as part of their digital marketing campaigns. A majority of them believe that video marketing has significantly increased website traffic and online sales.
Among digital marketers, 88% say that the return on investment (ROI) from video marketing campaigns is satisfactory since it has been proven to be an effective tool to build brand awareness, boost online visibility, increase audience reach, and raise market engagement.
But how and why is video content so effective in digital marketing?
One of the reasons why is that social media platforms such as YouTube, TikTok, Instagram, and Facebook are some of the primary digital channels to share videos. Given that social media users are extremely diverse, publishing online videos for the general public allows online businesses to expand their reach to different audiences and demographics.
Recent data shows that YouTube is the most popular video-sharing platform for both viewers and marketers while Facebook sits in second place. Roughly 90% of digital marketers conduct or plan to conduct their video marketing efforts on YouTube while 70% consider marketing video content on Facebook instead. Regardless, these social media platforms with millions of active users provide a great opportunity and avenue to start an effective video marketing strategy.
Ways To Measure Your Video Marketing Success
An essential part of any successful digital marketing campaign revolves around knowing what you’re doing wrong and what you’re doing right. Doing so provides you the opportunity to change tactics and adapt according to the preferences of your targeted audience. With that, here are some of the primary key performance indicators for your video marketing campaign.
When it comes to online videos, one of the easiest ways to see how their performance is going is by checking how many times the video has been watched or played. View count is simply the total number of times the video was viewed.
However, seeing 1 second of a 15-minute video does not automatically count as a view. Normally, the view count number depends on the type of video ( whether it’s a short-form or long-form video) and the total watch time spent on the video.
Platforms such as YouTube mostly feature long-form video content. On the other hand, TikTok is famous for short and snackable snippets that are normally less than 60 seconds long. Taking this into consideration, the view count metric for YouTube involves a 30-second watch time while TikTok automatically counts the view as soon as the video starts playing.
While looking into the view count number of your video ads or explainer video doesn’t really translate to an increase in sales, it helps gauge whether your video content creation and production fit well will your target audience. At the same time, it can also be used as an indicator of the reach of your video marketing efforts.
One of the best uses of social media platforms revolves around communicating, interacting, and engaging your audience and community. So much like any other marketing tool, adding video content to your social media marketing campaign can be used to further engage your audience with entertaining or educational videos.
Generally, audience engagement on videos includes comments and reactions. So unlike view count, checking the comments and reactions on your published video shows a more engaged audience who are willing to take the extra steps to comment or react to your posts.
Aside from that, comments and reactions can also be considered feedback on the quality and content of your videos. Seeing a lot of positive comments on your video reinforces that what your content team is doing is working and effective. At the same time, having negative comments and reactions shows that you need to change something about how your videos are created and presented to the public.
Click-through and Conversion Rates
Having an audience that takes action through comments and reactions is already a sign of an effective video marketing strategy. Since viewers are taking more and more time and effort to show their support, the next best thing is to have them turn from simple viewers to actual customers.
Video content marketers have the option to include call-to-action (CTA) phrases that are typically focused on driving traffic to your ecommerce or online store. So having people click through allows them to learn more about the business as well as your products and services. Generally, a high click-through rate shows a high level of engagement and interest from your targeted audience or market.
But aside from click-through rates, one of the most important gauges for your video marketing success revolves around conversion rates. While a viewer can watch a video, leave a comment, and react to your content, the conversion rate is the one that digital marketers want to boost. An increase in conversion rates means that your video content and production are effective not only in engaging your audience but also convincing them to purchase your product or service.
Gauging your business’ performance is an essential part of running a successful company. Knowing what your business is doing right and wrong is key to making necessary changes to provide quality service and performance.
In the world of marketing, there is an array of key performance indicators that digital marketers can use to track and measure how effective their marketing tactics are on specific groups or target markets. If a campaign fails to generate leads on a particular social media platform, moving to a different digital channel or targeting a different audience can provide you better results.
Getting positive results for your video marketing campaigns can be challenging. Especially if you are not familiar with the latest trends and practices online. Looking into the different key performance indicators for video marketing is the first step to creating a foolproof and efficient video marketing strategy that can help increase brand awareness, improve search engine ranking, generate leads, and so much more.
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