How to Measure KPIs When Using a Video
If you’ve ever thought that success cannot be measured, think again. When it comes to video campaigns, it is necessary to devise a measurement system that will correctly determine whether your videos manage to consistently achieve the desired objectives. If videos are an integral part of your business, you will need more than a gut feeling to know that you are on the right path to success. Whether your business is thriving or in desperate need of an improvement strategy, a reliable and efficient system of measurement can help you keep track of your progress. Defining and implementing the key performance indicators (KPI) – the metrics of success – plays a vital role in maximizing the potential of your online videos.
Note that the KPIs are not financial measurements that indicate how well your business is doing in terms of profit. Instead, think of the KPIs as the foundation stones of planning a successful online video campaign.
Keeping track of the key performance indicators will help you identify which specific set of factors contributes the most to the value of your videos, and which areas need improvement. Ideally, KPIs should be monitored daily or, at the very least, on a weekly basis. Since a wide variety of factors determine the success of a video, it is crucial to stay on top of your KPIs and revise them regularly. Depending on the nature of your videos, there are many different ways of implementing KPIs in your marketing strategy. Keep reading to find out how to measure KPIs when using a video.
The first thing that comes to mind when we think of a successful online video is the number of views.Keeping track of the views is a good starting point to measuring the video’s performance, as it will give you a general idea on how your video rates among competition. Even so, keep in mind that the number of views merely indicates how many times the video was opened, but tells you little about whether the message of your video actually reached the target audience. Achieving a large number of views, or ‘hits’, is relatively easy in today’s bustling internet climate. Keeping the viewers engaged, however, is a slightly more difficult task.
Audience engagement is one key performance indicator that should never be overlooked when it comes to online video campaigns. The number of views will show you how many people clicked ‘play’ on your video, but measuring audience engagement will indicate what percentage of those viewers stuck around long enough to receive and retain the message of the video. Keep track of the comments, likes, shares, and embedding to get a clear idea of whether your videos are reaching the right viewers. Carrying out these measurements will help you identify problem areas, and if necessary, make corrections, such as adjusting the length of the video, or making the content more engaging.
Finally, don’t forget the completion rate, a metric that tells you the number of times your video was watched in its entirety. Similar to audience engagement indicators, low completion rates are symptomatic of the videos that are not absorbing enough or are simply too long, indicating that further adjustments to need to be made in order to get the message of the video across more effectively.
If online videos are the building blocks of your business, don’t wait another moment to develop the right way of measuring the KPIs. Start tracking the key performance indicators right away by taking into account all the necessary metrics and optimizing a fool-proof measuring strategy that will give you results in no time.
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