Video is an increasingly popular format among Internet users. On 2015, video consumption on social networks like Facebook, SnapChat and YouTube doubled, and over the next couple of years it is expected to grow fourfold.
In this context, more and more companies are relying on video ads to promote and position their brands and products As every advertising platform, video is the best choice to meet some goals. For instance, unlike search, video campaigns usually work better to create brand awareness, to communicate the launch of a new product, and to establish long term relationships with the audience, rather than to drive sales instantaneously. For that reason, measuring their effectiveness requires the usage of a certain set of metrics, unlike those used for other kinds of ads.
Video can be a powerful ally to promote your brand, from our experience with Harrenvideo, our tool to implement video campaigns that reach the right audiences through Facebook, YouTube and Video Banners, we bring you a guide with the most adequate metrics to measure video ad performance:
Less Relevant Metrics
These are the amount of times a video ad has been served to the audience. This metric allows advertisers to learn the reach of their campaign, but it can’t prove its effectiveness.
Click Through Rate (CTR)
This metric, which is essential for other types of advertising, measures how many people reacted to the video by clicking on it. Since most videos are not actionable, and their effect is intended to work on the long term, this is not such an important metric.
Completion Rates/Percentage Complete
These metrics measure the amount of users who viewed the entire video, or who reached certain milestones like a 25%, or 50% completion. They help optimize content, video duration, and other factors to make sure more users get the message.
Time Spent Viewing
It measures the average time users spent watching the video. It also helps to optimize the message and measure how interested the audience is in it.
Player operation metrics
It measures users interactions with the player. How many rewinded? How many minimized it? How many muted the video? It allows to optimize the message and realize how many actually consumed it.
Most Relevant Metrics
Obtaining this metric requires a further study. It permits to evaluate if the audience remembers the message, and to what extent. A high message recall rate is an indicator of success.
Brand Health and Awareness/Purchase Intent
These are the most important metrics. Like message recall, they require a further study of the campaign’s target group in order to obtain them. They allow to measure how aware the audience is of the brand’s existence, how they value it, and how inclined they are to purchase its products. These studies are usually conducted on a regular basis by major brands, and the impact of video campaigns can be noticed (or not) in the variation of these figures.