In today’s world, where customers’ attention span is becoming shorter by the year, and the competition for creating and maintaining social buzz is tighter than ever, more businesses are now placing more resources into video marketing to improve customer engagement levels. That’s why you need video marketing KPIs to track.
Brands have a lot of digital marketing tactics at their disposal. But looking at the video marketing statistics below, they would be remiss not to harness the benefits of video marketing fully.
Videos are powerful in influencing buying decisions, with 50% of users looking for a product or service-related videos before heading to a store, and 90% saying that product videos gave them that last nudge to make a purchase.
Source: Grey Sky Films
Video has now become a crucial part of any successful marketing campaign. Helping brands increase brand awareness, videos are also used to get high-potential leads, and the customer journey through the sales funnel.
In 2022, it is expected that videos will continue to be on the number one spot in the list of media leveraged by brands to raise their profile online.
Source: Motion Cue
For video production agencies wanting to gain and retain clients, these numbers can make a strong case for businesses to turn to professionally produced video to generate more revenue and establish brand identity and loyalty.
The marketplace for video content has become more saturated and competitive.
Video production agencies must stand out from the pack and show how they can add more value to their clients through their services.
Producing high-quality video content for your client would be beneficial both for you and your client if you could extend the scope of your services to include video marketing KPIs reports. These reports will help you prove that the videos you produce can deliver the results your clients expect. Also, KPIs also inform you if you are doing all the right things or if you need to course-correct your video content strategy.
But first, what is KPI?
KPI or key performance indicators are metrics you need to track to determine and quantify the success of your videos. They correlate directly to measuring ROI or return on investment. Also, High KPI figures from your video content efforts allow your clients to evaluate their investment in your services favorably, translating into client retention and satisfaction.
10 Video Marketing KPIs You Should Be Tracking
When launching a video campaign strategy, it helps to know your clients’ objectives and their order of priority to identify which video marketing KPIs to track. Is your client looking to increase brand awareness or generate more website views?
These objectives should be well-defined, so you’ll know what goals you want to hit. Most brands these days have brand awareness as their top priority for liking videos in their campaign.
Source: Motion Cue
There are a lot of video metrics to track, so it is essential to know which video marketing KPI you need to scale the performance of the video campaign.
Your video KPIs can vary depending on your clients’ goals and video content. So as important as it is to have the correct KPIs, you should also be able to analyze and interpret the data for your clients to understand.
This data will help you determine what content to replicate, which channels are working, and how much to spend on each campaign.
Below are the top ten video marketing KPIs to look out for and possibly include in your performance report to your clients. These KPIs will help them understand what you are doing and keep them involved and engaged.
1. Watch Time
Watch time is the total time viewers spend watching your video, and it is added cumulatively and includes replays. You can calculate your average watch time by dividing your video’s total watch time by the total number of video plays and replays.
This video marketing KPIs helps determine how engaging your video content is or if it resonates with your audience. If your average watch time is long, prospects find your video helpful and enjoyable.
Mobile phones are still the primary device used to watch online videos in 2022, and this trend will likely carry over in the years to come. It might be helpful to develop your content strategy around video platforms that are popular among smartphone users like Tiktok, Twitter, and Instagram.
Source: Motion Cue
2. Average Video Completion Rate
Average video completion rate measures how much of the video or the percentage of the video your viewers watch. This metric tells you how well your video can hold your viewers’ attention.
Keep in mind that the video marketing channel you use for your video may use this metric to rank videos in their user’s video feed, like Facebook. Make sure your videos are created with compelling editing and post-production and are suited for the audiences of the platform you’re hosting your videos on.
3. Audience Retention
Audience retention is the metric that shows you when your viewers consume and leave your content. Measured as a percentage, audience retention is crucial to understanding at which point of your video your audience stops watching and why they stopped.
Using this metric, you can tell your client what needs to change to retain your audience’s attention from start to end in your next video.
YouTube remains the number one spot in the top marketing channels video marketers will use in 2022. Besides the platform being the second largest search engine, YouTube is popular among video markets because it has its analytics tool that lets you see your audience retention report.
Sample of an audience retention report from YouTube’s analytics tool
Re-watches tell you how often your audience watches your whole video or parts of it again. This metric lets you know which part of your video interests your audience the most to determine what subject most resonates with them. You can then use this to help you decide which video content topic and format to create.
Re-watches can also mean that there are parts of your video that people repeatedly watch because the content is not explicit enough, and they need more time to understand it. This could be due to editing errors or a lack of thorough explanation. You can use this insight to fine-tune your video editing and storytelling techniques.
5. Play Rate
Play rate is an important KPI for landing pages with embedded videos. It shows the number of people that played your video versus the number of people that visited the page hosting your video. This KPI is different from scrolling down a feed with auto-play as it requires action — people have to click play to start watching your video.
Here’s what you can do to increase your video’s overall play rate:
- Place your video in a good location on your landing page.
- Put an attention-grabbing thumbnail and a catchy video title that contains the keywords.
- Add a clear video description to encourage your viewers to watch your video.
6. Video Engagement
Video engagement measures your audience’s attention to your video through likes, comments, shares, upvotes, and reactions it generates. This metric tells you how well your video resonates with viewers and paints a picture of your audience’s affinity and loyalty to your brand. And one important video marketing KPIs to track.
Social shares can increase a video’s watch time, so knowing what type of videos generate the most engagement helps. According to the Hootsuite Global State of Digital 2022 report, 29.8% of viewers watch educational videos, 27.7% watch product review videos, and 26.7% watch influencer videos and vlogs.
7. Clickthrough Rate
The clickthrough rate (CTR) is the metric that shows the percentage of viewers that watched your video and clicked on the call to action (CTA) button. It measures how well your video encourages people to take the desired action or their interest in your offerings.
Your viewers will most likely not watch your video from start to finish all the time, so if you want to increase its clickthrough rate, you can either place the CTA at the beginning or middle of your video or make your video more enticing, encouraging your viewers to learn more about your business, product, or service.
8. Conversion Rate
Conversion rate is probably the KPI that your client would be most interested in knowing. It measures how well your video convinced viewers to convert into a lead or a customer. This metric is relevant for videos with embedded links, a call to action buttons, and other relevant information with a clickable external link.
Conversions can be the number of calls, purchases, and sign-ups you get after your viewers have watched your video. A video’s conversion rate helps determine the positive influence your video provides on your brand’s bottom line.
User-generated content is one of the most compelling types of video content and effectively turns your current customers into brand advocates. Hosting an online video contest can help you get your customers to create videos and share them on social media for you.
Southwest Airlines, for example, hosted an online video contest in partnership with AudPop. This creative video agency challenged filmmakers worldwide to bring the best traveler story on board in less than three minutes. The winner was awarded 24 one-way flight e-passes for the United States and Puerto Rico.
Click here to watch the winning video about a woman named Victoria taking on a journey to rediscover her ancestry:
9. Bounce Rate
The bounce rate shows how many site visitors left without visiting other pages or taking any action. Your videos can have a CTA that lets them take the desired action, like exploring other pages.
If your video has a high bounce rate, it is likely not engaging enough for your viewers.
10. Brand Retention
Brand retention is the metric that measures your brand’s positive associations through your video. Retaining your customers’ business with your brand is crucial to prevent them from switching to competitors. Also, video content can sometimes be a make-or-break strategy.
Because videos are part of a customer’s onboarding process with a brand and usually frontline a buyer’s journey. They can help a brand gain, keep, or lose customers. It is essential to understand the role of video in brand retention.
The possibilities of using videos for brand retention are endless. Like, you can host webinars, produce how-to/tutorials, live stream, or run an online video contest.
Better Business Bureau, a nonprofit organization that promotes marketplace trust, partnered with AudPop to organize a filmmaking challenge where participants were asked to submit a storytelling video of up to three minutes that showcased the institution’s core values. They received film entries that embodied BBB’s five “Gestures of Trust” and rewarded the winners $21,000 in prizes.
Watch the winning video about a metalworker pushing the boundaries of his craft to create breathtakingly beautiful works of art.
When launching a new video campaign, we always have the highest hopes, and producing videos takes many resources and time. And on top of that, the work does not stop once the content is up on your video distribution platforms. You have to measure, evaluate, and go back to the drawing board to help move your client’s business forward.
Knowing the right key performance indicators and how to analyze the data is essential. So you and your client can both assess the success of your video marketing strategy.
Work with AudPop
AudPop is the global video platform that provides businesses video as a service for the high-quality, authentic custom video they need. Our studio offers managed video production producing high-quality video for Fortune 500 brands and agencies affordably and at scale. We tapped into our Premium and Pro Creators to make the best video content and branded films that resonate with an audience.
Our Agency Partnership Program will connect you to 75,000 diverse filmmakers from all over the world who are experts in the craft of storytelling and can help you create high-quality videos that meet your objectives, all while reaching over 200 million fans and followers. These filmmakers will submit short films through our various video campaigns, voted on by AudPop fans and followers, and selected by our judges. Once a video is selected, you receive the video rights—and benefit from lead generation and social media impressions.
We have a wide range of video content offerings that include:
- social media videos
- product videos
- user-generated videos
- customer videos
- branded video and film content
Get in touch with us to learn how our Agency Partnership Program can help your video production agency improve your client retention.