You have put in the effort, time and money in creating your video, but do you really know how well it performed? Do you know if your reached your target audience or how much of the video did they actually watch?
By looking at the video’s analytics, you will be able to determine how successful it was and tweak the things that didn’t work. More importantly, the lessons learnt from your analytics can be used to create more effective videos in the future.
Your video’s data alone isn’t very helpful unless you have something to compare it to. For example, if your video has 3000 views, is that good or bad? It may seem good as most videos on YouTube have less than 1000 views. However if you compare it to your competitor’s average views per video (which is easy to determine), you may notice they get 10,000 views one month after publication.
So is your video’s performance good or bad? Well, we still don’t have enough information. If you use your competitor as your Benchmark or goal, you could set smaller specific targets known as Key Performance Indicators (KPI) to measure your videos performance. In this example, your KPI will be 2500 views per week x 4 weeks will give you the 10,000 views per month benchmark. Therefore if your video was published one week ago, then it would be above your KPI, however if it was published two weeks ago, it would well behind its KPI and unlikely to reach its Benchmark.
As you can see, having benchmarks based on your niche industry, competitors or even your best performed videos allows you to make sense of your data and helps you determine exactly what needs to improve.
There are a great number of video platforms that provide stats for your video at a cost, but Youtube does a good job for free. The main stats to look for are the reports found in the Analytics folder.
The number of views for your channel, you can determine the best days of the week to publish your videos and your Demographics Report will show if you are finding your target audience. For instance, a women’s lingerie channel was excelling in the number of video views but 60% of the viewers were males. No doubt that some of these men were looking to purchase gifts for their partners but many more were perhaps watching for other reasons.
The Age of your viewers and their Geographic location may surprise you and show you a potential new market to target.
The Traffic Sources report shows you where your audience is finding you and if there are blogs that have embedded your video on their site. This could provide opportunities to establish joint ventures with other businesses and thus provide growth potential.
A closer look at the viewers engagement with your videos such as Likes, Comments and Shares can help guide you to create more effective videos. And retention graph shows you exactly where you lose your audience and avoid those pitfalls in the future.
The world of video marketing is highly competitive in search of eyeballs and you need to learn what works best for your audience. Your videos analytics compared to benchmarks and KPIs will help you improve your ROI and sleep better at nights.
Video Marketing Strategist