Videos are a highly effective marketing tool for nearly any business, as well as an ideal means to improve corporate communication and learning development. But how can you be sure your video assets are achieving their optimal performance? That’s where video analytics comes in. Video analytics can be utilized for a number of purposes, from tracking user engagement and improving conversion rates to gauging the effectiveness of a training video.
It's important for any organization using video for either internal or external purposes to take full advantage of video analytics . Doing so not only enables you to create more engaging content, but you’ll also be able to use the data you’ve collected to make more informed marketing decisions, increase your customer base and expand your profits. When using a video analytics platform for internal purposes, you’ll be able to put together an effective video training program to better develop high-performing teams.
There are many useful tools scattered about the internet that can provide you with some type of video analytics. But many organizations fare much better when utilizing a video analytics platform. For example, a business-oriented video hosting platform with increased security and analytics can be used to better understand viewer engagement and drive positive results.
Being able to measure particular KPIs and analyze the results is an important part of any successful video marketing campaign or internal communications program. Consider the following ways in which video analytics can help you make data-driven decisions, increasing your chances of company success and improving the bottom line.
Provide a Comprehensive View of Your Marketing Efforts
Using a video analytics platform, you can easily identify and analyze a number of important KPIs, such as views, demographic information, on-site actions and conversions, audience engagement, devices and browsers used, and ROI yield.
With a strong foundation of data, you can adequately gauge video performance and the video marketing campaign as a whole. You can determine how well your videos perform, if your calls-to-action (CTAs) are lacking, and where or what type of videos perform the best. With over 86% of businesses using video as a marketing tool (and that number is predicted to grow), ensuring that your video marketing campaign is as good as it can be is important to remain competitive when vying for the attention of potential customers.
Improve Your Customer Segmentation
A company often has more than one target customer base, so a one-size-fits-all approach won't be as effective as a personalized strategy designed for each demographic profile and consumer preference. By analyzing your campaign with a video analytics platform, you can better target customers with a strategy that resonates with their particular needs and expectations, while presenting viable solutions for their pain points. When you create videos that directly resonate with your target market, you can vastly improve your conversion rate — 87% of consumers prefer to see video from the brands they want to do business with, and landing pages with videos convert around 800% better than pages without.
Create an Engaging and Effective Customer Journey Map
A customer journey map often has several touchpoints. Each of these touchpoints must be engaging or informative enough to further propel the customer along the path to a final purchase decision. Video analytics can help you identify the weak points in your customer journey map and make adjustments, ensuring that each touchpoint is strong enough to keep customers on the path and away from competitors. Essentially, using video analytics for actionable data gathering enables you to better engage customers — an important consideration, since 80% of customers say the experiences provided by a brand are as important a factor in their decision to buy as the company's products and services.
Engage Your Workforce
Video has emerged as an excellent tool for internal training and learning development. But video analytics are just as important for internal content as they are for marketing. Using a video analytics platform, you can track in real time who is watching your video, as well as receive important details regarding individual viewer activity. You can also use heat maps, engagement scores, and device data to tweak your video training content for better learning outcomes.
The adoption of video training by companies of all sizes is increasing — a Mimeo survey states that 74% of trainers use video learning as part of their training program. One reason is that video training is more cost-effective, but, more importantly, it is also more effective than instructor-led training.
In Conclusion
Much like regular marketing analytics, video analytics helps you identify patterns and analyze data so you can make smarter decisions. Smarter decisions lead to company success through improved profitability and cost reduction. With the insights you gain from a video analytics platform, you’ll gain a much deeper understanding of how your customers respond to your video marketing campaigns so you can increase sales, and how your employees benefit from your learning and development programs to improve their productivity, efficiency, and overall job satisfaction.
With Viostream, you can easily combine your video analytics with marketing, sales, and support data within your business intelligence tool. For corporate communications purposes, Viostream’s video analytics enable you to monitor video engagement and viewer interest by email registrations and geographic regions. Detailed location reports show you how people from different areas of the globe engage with your videos, and an easy-to-understand dashboard-style interface gives you complete control over your video analytics data. Comprehensive reports deliver enough information to enable you to gain a competitive edge. To begin using Viostream's best-in-class analytics on your internal and external video content, start your a free trial today.
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