Posts Tagged ‘metrics’

Monetization for Corporate Video

November 5, 2013 Leave a comment

An enormous amount of discussion takes place across the web on the issue of monetization of video. The concern is that producers are putting a lot of effort and at least some money into developing their video content and getting their creative vision down in pixels – now how do you make money off that effort? The answers can vary, but for the most part they focus on the video community – create your story, find a way to sell it or advertising around it so that you can profit.

As important as this topic is, for the enterprise producer the calculus is noticeably different. Generally speaking you’re not looking to sell a series of corporate pieces to Netflix, Amazon or Hulu; you probably are not interested in selling advertising for other products as a pre- or mid-roll to your product demo. In fact, the video itself is unlikely to be a moneymaker on its own, and it’s probably not intended to do so.

At the end of the day, a corporate video is designed to sell the products or services of the company. Your video is intended to lead viewers on to a purchasing decision, but it’s unlikely that the video will be the sole driver of that revenue. More often the video will be a form of lead generation for the organization’s sales team – a video view will translate into a sales contact which hopefully becomes a finalized sale. On the plus side, this takes a lot of pressure off the video producer – there’s no expectation that noticeable revenue will be driven by the video itself. You don’t have to get nervous about getting picked up by a large streaming provider, a YouTube syndicator, or draw large numbers of ad impressions.

On the challenge side, this means it can be harder to point to the video as a revenue generator instead of a cost center. If the sale does not depend on the video, how can you demonstrate to management that the video department is driving revenue? It’s not a simple question to answer, but the two most important steps to manage are calls to action and metrics. By adding direct calls to action within the video, you can ensure that the video provides an immediate opportunity to connect with the company and its experts. If you’re doing a piece involving a subject matter expert (SME) from the organization, be sure there’s easy connectivity to reach that SME directly. Metrics always provide understanding of the success of a video, and they can be useful as an indicator that your message is reaching the key audiences.

One critical step here is to be sure to take advantage of URL techniques that can help tell you where your users are coming from. Tagging and tracking codes within URLs can provide very specific feedback on the source of the click – an email campaign, a particular webpage, and of course from within a video page. If you’re not familiar with the coding on the URL, work with your web development teams to create URLs that will help indicate that a user reached out to your organization after watching one of your video pieces.

In the end video for most organizations is a means to an end, but there are still key steps you can take to make sure your efforts are helping drive revenue.

Categories: Distribution Tags: , ,

It’s All About the Metrics

July 18, 2012 Leave a comment

More focus is being brought on the issue of metrics in online video:

As Online Video Campaigns Ramp Up, Metrics Present a Challenge

This particular article is focused on the advertising marketplace and the impact video has on marketers. Needless to say it’s critical there – you make your living off how well your ads do, and that’s hard to figure out if you don’t know what you’re measuring.

It applies to non-advertising video as well, of course, and I think it remains one of the greatest challenges to video production and delivery across industries and sectors.  There are some key components to the challenge:

  • What information do you collect?
  • Is it even collectable?
  • Are you affected by inevitable comparisons to the metrics available for non-media content?
  • Are you tracking what you want to know or what the business owner wants?
  • What do you do with it all once you’ve got the data?

Streaming media doesn’t offer the same types of metrics as text-based internet content. The technical details are less important than the fact that text content has both a track record and a support system.  There are any number of metrics available, and major providers offer suites of software to help the content owner slice and dice the numbers in multiple ways. Video is trickier – major formats like flash lack certain key information on the users viewing it; unlike text, there are fewer agreed standards that providers are offering – they tend to provide unique metric packages that only work with their broader delivery offerings. The inevitable result is that content owners want to know the same things they can learn about text content and it’s often not available; what is available may be more technical than the content owners want.

All of this is overshadowed  by the general lack of understanding of the concept of metrics by content owner and media manager both. People get focused on having numbers without figuring out what it is those numbers are telling them. It’s all very helpful to find out you had 1,000 views on a piece and on average they watched 25% of the video, but how are you interpreting that information? More importantly, now that you know this, what do you do next? Make the video shorter? Place it more prominently on your page? Speed up the pace of the piece?

All of these may be needed, or none of them. Partly because you may not have any idea who those people watching are. Again, if on average they gave up partway through, but 15% of the users watched till the end – and those people were your key target audience, and it led them to reach out and your company made sales – why on earth would you shorten the piece? If on the other hand your important audience left partway through, you really do want it shorter to keep their attention and again have the success you intended with the video.

Unfortunately I don’t have great answers to this, and only partly because video metrics are still maturing as a concept. The most I can say is to take some time to understand what you can track and then be realistic about making sense of it. You’ll always be somewhat limited in what you can tell from the raw numbers, but you can tweak the circumstances to help judge the effectiveness of your media. Drop in calls to action if you can – YouTube for one allows for clickable popups within a video; don’t go crazy, but a short message at the beginning or end of a piece will connect interested users back to a website or email to learn more. Track your sales via video – ask the call center to ask callers where they learned about a product or service, or place a field in an online form with video as a choice for the source. It’s by no means perfect, but you’ll get a sense as to the impact it’s having.

There’s an art and alchemy to tracking use of online video, and it has a long way to go; keep your expectations reasonable, stay focused on meeting business needs and make the most intelligent use of the data you can.

Categories: Process Management Tags: ,
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