How do I know if my Web Video will be Effective?
This by far the question I get asked the most.
And rightly so.
People buy explainer video because they are told it's effective.
But where's the evidence?
Actually this question is addressing a much wider issue than Web Video
Come to think of it, this question predates online marketing by a long way.
Ever since John Wanamaker (1838 - 1922) remarked:
"Half the money I spend on advertising is wasted; the trouble is I don't know which half."
Every marketing manager on the planet has been trying to find out
'Which half of their marketing budget is the good half!?'
Luckily, marketing has progressed a lot since the days of John Wanamaker.
In fact, most of you reading this are probably well versed in Web Analytics.
But even though Video Analytics have been around for a few years now, they're still not widely understood.
Today, I'd like to cover the basics of web video analytics so you can start to understand how to measure the effectiveness of your explainer video.
Let's start with the most basic of questions:
How do I get Video Analytics?
Getting reliable metrics on your animated web video is easier than you might think.
All of the big video hosting players will offer some sort stats for you to dive into.
Youtube, Vimeo, Wistia etc.
And they're all continuously updating the video analytics that they offer.
But for the purposes of this article , I'm going to concentrate on just one of these services
What are the basic Video Analytics
When you open up your stats page for a specific video you'll find the three of the most useful metrics at the top of the page:
> Average Engagement
> Total Plays
> Play Rate
These are three great stats to understand, so I'll cover each one individually.
When we say Average Engagement, what we are actually describing is the average amount of time that a viewer will watch the video for.
So in the example above, we see that the Average Engagement Rate is 55.3%.
Or in real terms, a typical viewer will get just over half way through the video before clicking away.
So now the question that you need to be asking is "is 55% any good!?"
But before you can arrive at a 'yes no' answer, first you need to consider the runtime of the video.
As you'd expect, the longer the video, the higher the chances are that the viewer will click away before finishing the video.
The example stats above are for a 1 minute 50 second video.
So if we take our runtime of 1:50 and our average engagement of 55%, we can see that the video is performing well when compared to other videos of a similar duration.
ie - The chart below shows that an Engagment loss of 60% is acceptable for a 2 minute video.
So an Engagement Rate of 55% is doing much better than the 40% average.
Image and data from Wistia
This stat is the most self explanatory.
The total plays will tell you how many times your animated explainer video has been watch.
Although this is a pretty good stat for an 'instant instant feel good factor', there's actually much to learn if we dig a little deeper.
Wistia offers a Trends Graph that will show you your Total Plays over Time.
Functions like this can be very useful for if you want to experiment with
> Video Thumbnails
> Video Player Size
> Video Page Position
By paying close attention to the Trends Graph, what changes you make, and when, you can start to really build up a picture of what appeals to your audience.
Hopefully, you've now had a good introduction to:
> Web Video Analytics
> The Average Engagement Metric
> And the Total Plays Metrics
But there's still much more to cover!
Watch out for the second part to this blog where I'll be covering:
> The Play Rate
> And Heatmaps