If you are one of the many marketers incorporating video into your digital marketing strategy, make you are also taking the time to analyze — and improve — it's effectiveness.
Michael Litt is the CEO and co-founder of Vidyard, a video marketing services provider. He spoke to CMSWire about these two types of data within a video marketing context.
Video and Digital Marketing
In the past video marketing was only thought of as something that was constricted to a 30 second commercial during a television show or possibly something that played in a theater before a movie.
As consumers, and marketing, spend more time in the digital world, video has evolved. But this evolution has been a slow process. Internet video had been thought of as an entertainment and educational medium with tutorials, movie trailers and television show archives like Hulu, but this has changed.
Companies have started looking at video as a customer acquisition resource as it is a massive part of the future of content marketing,” said Litt. "People are looking for that ‘lean back experience’ with content and it's just a much better way to sell yourself and your website.”
While many videos have counters that show how many times it’s been watched or how many comments have been made, this information on its own can’t give marketers a good picture of their audience. Marketers don't know how long a video was watched or how many people clicked on ads and other interactive content.
We call that the black box of video marketing because you produce content and put it out there, but there’s no way to get insight from it,” said Litt.
Videos have to be understood using the method used by other digital marketing tools: analytics.
In today’s world there a million and one ways for marketers to find their target customers because there’s so much information charging at the consumer,” said Litt. “Having perspective on the data and process these potential customers go through helps your sales team have better quality leads."
Aggregate vs Consumer Data
There are two types analytics: general or aggregate data, and personal or consumer data. With video, the aggregate level shows how a video was watched by a group of viewers and what type of engagement it received, while the consumer level narrows this data down to a single viewer.
Litt notes that the aggregate level is sometimes overlooked in favor of creating individual customer profiles and a more complete CRM list, but both kinds of data are important and aggregate shouldn't be ignored.
It’s important to see this [data] on an aggregate level because it gives us a flat view of our audience," Litt said. “You can see problems as a whole; when people are being lost and what the overall interactions are with the video."
Litt says that with aggregate data a business can, for example, see how many users are skipping the first part of a video. The company can then make an adjustment so that part is removed, giving the viewing audience a more enjoyable video watching experience.
On the individual side, consumer data not only shows businesses how different viewers are, but who is more likely to be a key influencer across social media and how to turn potential customers into a repeat customers.
Every individual is different and watch video content differently, but one person might be better for business than another person,” said Litt. “To be able to drill down into that specific user’s attention span and engagement with content you have better insight on how to nurture that lead and turn it into revenue.”
Don't Just Create Video, Analyze Its Use
Even though both types of data work well separately, together they can give businesses a more complete picture of who their target audience is, thus make better campaign decisions and a better consumer experience.
We want to know when the entire audience is dissatisfied with content on the aggregate level and on the user level we can do something like lookup to see what a person has done with it [the video], what they watched and how many videos they watched,” said Litt.
The key point here is to not just creative marketing video, but analyze and improve it. Video is fast becoming an important asset in a digital marketers toolkit.
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