Video Monetization: 7 Effective Tips to Grow Your Business With Video Analytics
By the end of 2021, it’s expected that there will be around 1.9 billion Internet video users across the world. The demand for video content is growing, with studies showing that 54% of consumers want to see more videos from a brand they support.
No wonder 87% of marketers are now using video as a marketing medium. We can’t blame them – video content does an exceptionally great job at increasing user engagement and improving brand trust.
From YouTube to social media platforms, everyone can’t seem to get enough of videos anymore. Yes, including B2B buyers.
For B2B businesses such as yourself, posting videos is how you want to promote yourself in this digital era we’re now living in. However, video marketing alone won’t cut it. Growing your business requires more than that; you’ll also need to focus on video analytics.
In this article, we’ll talk about the basics of video analytics, how it can take your business to the next level, and of course, the tried-and-true tips on how you can harness its power.
Image Source: singlegrain.com
With these things in mind, let’s get started!
What’s the Deal with Video Analytics?
As with all other forms of marketing, video marketing needs analytics. It’s crucial to measure and analyze your results so you’ll know what’s working and what needs more work.
One of the reasons why many B2B businesses have trouble succeeding in the video marketing department is because they don’t bother measuring the performance of their videos. They’re investing in video without really understanding if it achieves their goal – and you definitely don’t want to be in that position.
Video sharing platforms such as YouTube offer tools to help you analyze different aspects of your videos. Google Analytics lets you keep track of traffic from video sites, and you can also use it to identify how on-page videos impact your website.
With video analytics, you can do the following:
- l Discover what type of video content is popular
- l Learn who’s viewing your videos
- l Determine how engaging your videos are to your audience
- l Monitor your results and continuously improve using the data
- l Spend your video marketing budget wisely
- l Fine-tune your message
- l Reach the right audience
Growing Your B2B Business with Video Analytics
Now that you know how big of a deal video analytics is, you’re probably excited to learn how you’ll be able to leverage it to put your business a step ahead of your competition. Below are seven key metrics that you can take advantage of:
1. Demographics
You might have an ideal audience in mind when targeting consumers with your videos, but how will you know if your assumptions are right? Of course, you gotta check the analytics.
Thanks to video analytics, you can have all the insights you need regarding your audience. This metric displays which types of audiences are most interested in your video content. Along with the number of viewers, you’ll know which age groups and gender are watching, leaving you with no guesswork to stress about.
YouTube’s Demographics report is definitely something you should use every time you’re analyzing your videos. It tells you where your viewers watched your video and how they found out about it, helping you identify which platforms are driving the most viewers. That way, you can adjust your video marketing strategy accordingly.
How to Use Demographics for Business Growth
One of the best things about audience demographics is that it can lead you in the right direction, especially if you’re having uncertainties about your target audience.
In cases where your intended viewers can’t relate to the topics covered in your videos, you’ll need to experiment and try different types to make it work. Once you’re able to recognize which content they find appealing, you can start producing similar videos to hook them in.
What’s more, you could tap into new markets when you know who’s usually tuning in to your videos. You might just be capturing the attention of a certain demographic you’ve never thought of targeting. You can use it as an opportunity to get more sales and conversions by targeting them in your future content.
2. View Count
Perhaps the simplest metric in terms of videos is the number of viewers. It calculates how successful your videos are on platforms like YouTube and social media.
Obviously, higher numbers are always favorable, as they’re telling you that more people are actually fond of the video. After all, people prefer watching videos that are trending.
How to Use View Count for Business Growth
Keep in mind that the number of views helps modify your video content. If a specific video generates more views than the rest, use it as your inspiration for the next videos to come. In other words, create videos with similar topics.
For videos that don’t seem to garner a lot of views, assess what factors could be causing the low count. It might have something to do with the title, tag, or keywords used. Try adjusting the tags in a way that your target audience can easily find it. Also, review your title and see if it reflects the content shown in the video.
3. Audience Engagement
Now, just because you have thousands (or perhaps even millions) of viewers doesn’t mean that all of them find your video worth watching. What’s the point of having impressive view counts if most of them don’t really finish the entire video? They won’t take any action at all!
Do you notice that your viewers are only watching the first few seconds of your video? Is there a specific part they keep on repeating? Or, are they only skipping to the final scene? Knowing these things is key to improving your video strategies.
How to Use Audience Engagement for Business Growth
Refer to YouTube’s Audience Retention graph to learn which parts of your videos are ineffective. If it shows that the majority of your audience would only watch the first 30 seconds, then you need to fix your video – whether it’s the content, length, or quality.
If you seem to be losing viewers at the beginning of your video, find ways to keep your videos as engaging and entertaining as possible. If they stop playing after only a few minutes, that’s the cue that you need to focus on making shorter videos. And, if they’re skipping to certain parts or watch others on repeat, you’ll get a clear idea of what they find useful and relevant.
See to it that the content and ad copy are reflective of each other. For instance, if your viewers expect a product demonstration video and you give them an advertisement on why they should buy it, they’ll end up leaving.
Additionally, make sure you know the acceptable lengths first before posting on the platform of your choice. YouTube prefers two-minute videos, Facebook allows one-minute videos, 45 seconds for Twitter, and for Instagram, a 30-second video is the most ideal.
4. Traffic Sources
Knowing which platforms are effective at generating views can improve your efforts at promotion.
Have viewers discovered you by watching similar videos on third-party hosting sites? Are they coming from social media accounts of those who have shared your video? Did they learn about you from social media ads? Or perhaps, they were directed to your video from organic search results?
By having the answers to these questions, you can test various traffic sources and adjust them to achieve better outcomes.
How to Use Traffic Sources for Business Growth
If most of your videos generate views from a particular social media platform, you can incorporate them into your marketing strategies. This will help you save money and time as you’ll no longer have to advertise on channels where there’s no traffic.
And, if the videos you post on YouTube fail to drive visitors to your site, consider turning to a video hosting platform where your videos can contribute to your SEO.
The point is, you should be able to understand how your viewers find your video content so you’ll know whether you’re on the right track with your distribution methods.
5. Viewer Location
Is your B2B business serving only particular areas in your state? If so, you gotta make sure that you’re reaching each of those areas. Why reach viewers in Mexico when you’re a marketing agency in Miami, for example?
Unless your goal is to promote your brand in all parts of the globe, you should monitor this metric on a regular basis.
How to Use Viewer Location for Business Growth
To promote videos in a specific location, your best bet is to use Google paid ads or paid video hosting. Targeted, localized video campaigns are the way to go to reach your ideal audience.
6. Devices Your Viewers Use
Another video analytics metric that plays a major role would be the devices your viewers typically use. How someone watches videos online can say a lot about their habits, helping you optimize your content for different devices.
Making videos with the quality of laptops won’t be the same when viewed on a smartphone or tablet. Imagine what would happen if most of your viewers are watching from mobile devices? That’s gonna be a disaster!
How to Use Viewer Devices for Business Growth
As this metric reveals the screen size and resolution most commonly used by viewers, you’ll be able to produce and display videos with ease. That’s because you already know which devices are crowd favorites.
With over 70% of YouTube watch time coming from mobile phones, it makes perfect sense that you’d want to optimize your video content for on-the-go viewing. This means making bite-sized videos with lightning-fast speeds.
It’s also worth noting that there are certain actions that are harder to perform when using a mobile device, which is why you should keep your calls-to-action (CTAs) as simple as you can.
7. Conversions
Your videos are there for a purpose – whether it’s to convince viewers to buy your latest product, subscribe to your newsletter, download an app, or sign up for a free webinar.
The question is, how will you know that your CTAs are really effective? Simple. Just look at the number of conversions. Video analytics will give you that information.
How to Use Conversions for Business Growth
Having a plain CTA isn’t enough to encourage your audience to take your desired action. You need to come up with compelling CTAs in order to boost conversions.
Once you see that your conversion rates are low, you should work on improving your calls-to-action. Place them at the beginning of your videos as much as possible. A CTA in mid-roll or post-roll isn’t usually a good idea, especially if your videos are long.
Your CTAs should be eye-catching as well. Make sure they match the videos they’re in, and more importantly, they need to be suitable for your video content. Every CTA you create should align with the message you’re trying to convey in your video.
Final Thoughts
Here’s the bottom line: Using video analytics is essential in helping you grow your B2B business.
Rather than producing one video after another in hopes of reaching your target audience and driving them to convert, you can count on these seven metrics to create a successful video.
As with any digital marketing strategy, using analytics data is a surefire way to track your progress and continuously improve.
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