Top 3 Video KPIs to Focus On

 

If you find yourself at the core of a business or organization, you have probably heard of Key Performance Indicators, or KPIs. Even if you haven’t heard this term, you most definitely have some and could list them off. KPIs are simply specific and directed or broad and objective goals. One area where KPIs dominate the conversation is video. Often, it’s difficult to pinpoint what video KPIs one should have, especially since they depend on the characteristics of your company or organization.

First, you have to identify your brand’s marketing goals. Brand marketing goals in general, especially for video campaigns, can be split into three categories: awareness, consideration, and action. In other words, does your video campaign aim to raise general awareness about your product or initiative, achieve higher consideration among the audience that the video generates, or inspire action among viewers? It really doesn’t matter if you choose KPIs in different marketing goal categories as long as you identify specific goals. So, let’s go through each of the three band marketing goals specifically targeted for video and identify KPI measurables in each category and discuss how they apply to your distinct brand’s marketing objectives.

1. Awareness.

via GIPHY

 

There are five KPIs to measure awareness in video marketing campaigns: views, impressions, unique users, awareness lift, and ad recall lift.

Let’s say you want to create a video that gets as many views as possible. If your brand identifies this as a goal, it’s likely that you are a fledgling brand with an audience to reach. You want to be recognized. If people are aware of your brand, it’s easier to convert awareness into action.

Therefore, you may want to track views. This means that the initial goal of, say, a YouTube video may be to reach a number of views that is double your Instagram followers. If you have 500 Instagram followers, you may want to start out by trying to reach 1000 views on YouTube. Impressions, on the other hand, are a more lite way of measuring video awareness. An impression on Facebook simply means that a Facebook user scrolled past and viewed your video ad. Of course, an impression is still something – it means that a social user saw your brand and associated it with something, whether it was your logo, ad, or product description.

The great thing about advertising on Instagram and Facebook is that you can target posts towards geographic regions. If you’re a coffeehouse in Central Indiana, you can make sure that your ad is viewed by 100k Facebook users in the Indianapolis area. This makes Awareness a fantastic and easily achievable goal for a new brand experimenting with video. Think of the benefits of a sleek video of hot coffee pouring into a white, ceramic mug in an ambient setting, adorned with wooden floors and local art on the walls – a coffee establishment that is able to reach thousands of locals with a video like this is already reaping the benefits of video and able to track these benefits first-hand by identifying simple awareness KPIs. Track your revenue before releasing video and watch revenue rise or fall based on the ‘view’ performance of your video campaign.

2. Consideration.

A step above ‘Awareness’ is ‘Consideration.’ Targeting viewer consideration should come after amassing somewhat of an audience for social marketing. Is your brand just establishing a digital presence? Focus on gaining followers and views with your video. Does your brand have a recognizable digital presence and an established product? Start identifying goals for consideration.

KPIs to track Consideration include watch time and view-through rate. Instead of simply advertising videos to attract as many views or impressions as possible, a brand starts to focus on viewers watching the video nearly or entirely all the way through to the finish. You can see how, logically, awareness and an established audience would help videos bring a consideration lift. The focus shifts from advertising to increasing video quality and interest in the video itself.

Of course, you still want to generate impressions and views. Without high visibility, there won’t be any consideration at all. Shifting your KPIs to be more consideration-oriented doesn’t mean ignoring awareness. It simply means you have already achieved some level of awareness and want to start focusing on converting viewers, whether it’s increasing favorability or starting to key into viewers’ interactions with your brand.

Try playing with copy in your advertisement. Set your sights on intriguing the audience and answering a question they may have that can only be answered by watching your video. Focus on the quality of your video – educate, engage, and be interesting. This may sound fairly basic and broad, but two things must be stellar in order to buy your audience’s valuable time: your copywriting ad-words and video content.

View-through rate and watch time can often only be achieved by already having high brand awareness or unique, high-quality video. Don’t jump too far ahead in your KPI identification. It’s like building a house – start at the foundation and work your way up.

3. Action.

Now comes the final marketing objective, for good reason. It’s time to convert viewers into customers and your audience into prospective clientele.

Both your ad copy AND video need a call-of-action, of course. Whether that’s clicking on a link to purchase your product/donate to your cause or just visiting your website is entirely reliant upon your brand’s objective. Fortunately, this KPI is easy to track. On the other hand, it’s the hardest to increase and maintain.

To track Action KPIs, you simply need to track sales before, during, and after your digital marketing campaign. Follow closely your view-to-action ratio (such as views compared to website visits). Compare ad impressions for a product to product purchases.

Strategies for inducing Action go hand-in-hand with the previous two objectives. Shifting the focus of video ads depending on their objective (Awareness, Consideration, or Action) is extremely important. Whether your video is aiming to promote brand Awareness or Action changes the dynamic of the video itself – so identify your objectives and KPIs before solidifying your ad copy and video content.

There are video and social marketing experts that know how to achieve each of these KPIs and goals, but you and your brand alone can identify them. Be direct, straight-forward, and knowledgeable about your objectives and KPIs and results will follow.