Planning a B2B web video production for profit – Part 2 of 6
Part 2 of a helpful 6 part guide for any B2B marketer or business person planning a profitable web video.
Today we’ll look at:
- Why the video’s location on the page is crucial to success
- Using Bounce Rate to discover what works – and what doesn’t
- Page display choices – and their impacts
Location, location, location
Where you place your web video production on the page is critical.
Fortunately it’s easy to measure if you’re doing this correctly – or if you’re doing it wrong.
We start by measuring the Bounce Rate of the video page – which for many companies is usually the home page.
Let’s look at this more closely as bounce rate really matters.
Improving the home page bounce rate is the first step in making your website perform more effectively.
If your video is for an inner web page, the sort of rules still apply – such as the time spent on page – and is all easily available from Google Analytics.
What Bounce Rate means
This homepage has a 1% bounce rate.
Only 1% exit immediately.This means that of all the people who arrive at the site, 99% of them click to explore more.
We call this a 1% bounce rate.
By contrast, Google estimate the average UK home page bounce rate is 41%.
In other words the average site actually repels almost half of all its incoming traffic.
There are even some business sites with a bounce rate as high as 70%!
Hard to believe – but true nonetheless.
Now let’s consider the hidden waste cost that an unnecessarily high bounce rate generates.
For example, if each click to your site costs £2 – which is quite low at today’s pay-per-click prices – then a site with 5,000 traffic per month is spending £10,000 per month – or £120,000 per year.
Looking at this from the point of view of Bounce Rate:
> A 70% bounce rate equals £84,000 per year wasted, ie, the cost of visitors who exit instead of stick.
> An average 41% bounce rate equals almost £50,000 wasted
And this is for clicks costing only £2.
It doubles if the clicks cost £4 each.
Even if you only do homemade SEO organic search, there’s still a cost – your time.
Because this waste bounce cost is such a high cost, we need to look further at this successful 1% bounce rate homepage, and see how it works – see what we can learn.
Looking at the page again:
There’s a large size banner, with an unmissable invitation to play.
Now compare it with this site
The video is small and hard to spot, and has a cheap-looking icon.
Please note: This page is obviously imaginary, because we don’t want to create offence by showing a really bad page.
But there are many home pages that use video this badly.
Let’s look at another example.
This page has the video is below the visible area on a line
The video – which is potentially the biggest lead winner – is hidden.
We know this because Heat Maps of homepages show that people don’t look very much below the visible area line
So a web video here is largely wasted.
Certainly it is for new visitors in a hurry.
For many visitors, the video might as well not even be there – though perhaps it’s noticed by the the 20-30% of traffic that is re-visitors.
In fact, this video looks altogether distinctly unappetising.
The banner is a random screen that youtube automatically generated.
It tells very little of the exciting content it may contain.
There’s no real incentive to play.
It’s simply there.
But because it’s prominent, it’ll get some clicks.
But it disobeys the cardinal rule of the web – never take any customer click for granted.
Every click needs to be considered.
Every click needs to be sold.
This page works well
This page has a noticeable launch button.
There’s no explanation of why it should be watched, but it’s noticeable all the same.
And it delivers a large popup video view window – so everything is very clear.
So what’s the connection between all these examples – and bounce rate?
On which examples do you think the bounce rate is low – or high?
Here’s what Google have to say:
They suggest a good bounce rate is 22%.
ie, around 3 out of 4 visitors stay to explore.
So why has this page an astonishingly low bounce rate of 1%?
Here’s what we see:
> a prominent banner that can’t be missed
> a prominently displayed reason to watch the video
> it’s big, so it looks important.
Obviously there’s more to a low bounce rate than just banner size and page position.
How engaging and involving the video is still all-important
- but the big banner message and prominent location is what gets more people viewing.
And getting people viewing is the first step to producing a profitable web video.
Simply assuming they’ll view a video because “it’s there” is a mistake.
Ignore bounce rate & location at your peril.
In Part 3 we’ll look at how to overcome common problems using video launch buttons and banners, then look some more into the Money Maths – how much you can win by getting it right.
We’ll also look at how to work with your web developer when implementing your video.
Thank you for reading Part 2 of Planning a B2B web video production for profit.
You can view more information and video samples on web video production here