Is it the number of views it gets?
The number of shares it generates?
Or the number of people who sign up for your YouTube channel after watching it?
While all of these numbers are helpful to know, they don’t necessarily prove that the video is doing anything to increase the number of sales you make.
In order to make sure your video is generating the results you want for your business, there are six key numbers you need to measure:
1. VIEW-THROUGH RATE (VTR): The percentage of people who saw your video in their feed or on a blog or other website and actually watched it.
WHY IT’S IMPORTANT: This shows you how effective your video title and thumbnail are. According to this infographic from ReelSurfer, the industry average VTR rate is 16.5%. If your videos are ranking lower than that, it’s a good sign you should test new titles & thumbnails to attract more views.
2. WATCH TIME: Shows how long the average viewer watches your video.
WHY IT’S IMPORTANT: Watch time is a measure of engagement and indicates how appealing your video is. Studies show that 50% of video viewers stop watching after 15 seconds, so if your watch time is longer than that, you know you’re doing something right.
3. SHARES: The number of people who share your video with others. It’s also a good idea to track which networks your video is being shared on.
WHY IT’S IMPORTANT: It tells you how much viral appeal your video has and gives you a clear idea of its reach and how many new people have been exposed to it.
4. CLICK-THROUGH RATE (CTR): The percentage of viewers who click on the link in your video and go to your website or video channel.
WHY IT’S IMPORTANT: Your CTR shows you how effective your call to action is. After all, your video isn’t doing you much good if it doesn’t convince people to DO something (e.g., buy a product or download a freebie on your website).
5. CONVERSION RATE: The percentage of people who watch your video and then click on your link and go on to complete some sort of action on your website, e.g., buy a product or sign up for your mailing list. This is one of the two most important metrics you should be measuring.
WHY IT’S IMPORTANT: Your conversion rate tells you how successful your video is at prequalifying viewers as potential customers or subscribers. It also shows you how well your marketing message carries through from the video to your website.
For example, if you have a high view-through rate and click-through rate but the people who go to your website don’t sign up for your offer, that shows you there’s a disconnect between your video and your website messages and they need to be brought into closer alignment.
6. YOUR ROI: The amount of money you make through sales generated from your video vs. the amount of money you spent on the video. This is the other top metric you need to measure.
WHY IT’S IMPORTANT: When you invest in a marketing video, you want to make sure you get your money’s worth! If you spend $10,000 on a video but generate only $5,000 in net profit from the sales resulting from the video, then it doesn’t matter how many views or shares you got – it ended up costing your business money.
It might seem obvious, but in order to be successful, your videos should make more money than they cost to produce. If you want to make sure that your next marketing video generates a clear profit, give us a call!
We specialize in creating cost-effective marketing videos that attract viewers and compel people to take action. We can even create a step-by-step marketing plan that will show you exactly how to get the most bang for your video buck.
Call 858-432-DRAW or email firstname.lastname@example.org to book your I-can’t-believe-it’s-free 20-minute consultation today (Subject: Get Me My ROI).