You’d have to have been living under a rock the past ten years if you
didn’t know that one of the best ways to market a product, service or
idea is to post a video on the internet and get millions of people to
watch it. Naturally, there is also a lot of information on the
internet on how to get your videos to spread like wildfire, and make
you some money.
Also deserving of focus, however, is how you know whether your ideas
are catching fire. There are many different ways to measure how well your material persuades people to give you money. Let’s look at some basic measures of internet video campaign success.
Most obvious is viewership. Along with how many hits your video is
getting, it’s also useful to track how long viewers stay on the page;
if many people leave after a couple of seconds, you’ll know that
something may be unpalatable or non-user-friendly about your campaign.
Location may be important too, if your product or service is specific
to a certain geographical area. This information can be tracked as
Social media can provide an easy-to-use method of measuring the
success of your video: keep track of how many new followers per day
or per week, and how much discussion your videos are generating.
For many of us, the most important measure of success is profit – and
this can also be measured by comparing the number of video views with
the number of units sold. This ratio is known as the conversion rate.
Many people who are new to e-commerce become disappointed at first
with their conversion rates, but it’s normal if the vast majority of
views do not turn into dollars. Often the idea is to increase affinity with your brand or product, to create an emotional attachment with your customers that might turn into a purchase down the road. Sometimes videos can lead directly to sales — but even if it doesn’t, your video can still be doing what you want.
Many internet businesses outsource the task of raising viewership, social media presence, and conversion as much as possible. In our next article we’ll go over some analytics tools you can use to promote your video and to track just how well it is doing.