Sunday, January 24, 2010

Online Video Platform Summit: Measuring Success

For businesses, all roads lead to monetization, and there's no other tool more important than video analytics to capture how your video content is consumed on the web. While definitions vary on what is considered a "view" or an "impression" and no real standards currently exist, everyone recognizes the need for real-time data to measure and maximize the ROI of their online efforts. In this session from the Online Video Platform Summit, the CEOs of four leading analytics and video technology companies, Tubemogul, DigitalSmiths, Visible Measures and Accordent, discuss how video metrics help video publishers better understand audience behavior and the performance and reach of a viral video, social marketing campaign, online video ad, corporate training video or other content, and how it drives productivity and revenue.

Measuring Success
Wednesday, November 18, 2009 3:00 PM PST

Description: Without solid, performance-based metrics, there's no way to measure the success and ROI of your video content. The ability to measure video traffic beyond "views"-including audience dropoff, what sites and search terms are referring viewers, and audience geography-offers content publishers deeper insight into both the viewing habits of their audience and the extent of their video's reach. Panelists in this Online Video Platform Summit session will demonstrate video metrics in action and talk about what to measure, how to measure it, and how to turn those measurements into actionable business intelligence.

Moderator: Jan Ozer, Principal, Doceo Publishing
Mike Newman, CEO, Accordent Technologies
Brian Shin, Founder & CEO, Visible Measures
Ben Weinberger, CEO, Digitalsmiths
Brett Wilson, Co-Founder and CEO, TubeMogul

In regards to the future of video analytics, Brian Shin noted a tremendous shift in the analytics space in general. He said,
"I think that the integration of analytics into everything that we do, the concept of web analytics will go away and I think you'll have just a unified analytic platform that's just tracking events."
Mike Newman noted that for his enterprise customers it's about business intelligence. There are always "bean counters" and finance managers that want to see objective data, metrics, tracking and discipline.
"Interestingly, the evolution we have seen is from starting with, "We want to create content" to "How are going to define success and how are we going to measure success?" and without those things in place we're not even going to start."

Ben Weinberger outlined the five things that you need to know about your target viewer to effectively monetize video. He maintained that you don't need to know who they are since that information is too specific and overwhelming. He expanded on these key points:
"What you do need to know is (1) what group they belong to, the basic demographic information (2) what is the viewing behavior of that group (3) when they are viewing, what is the appetite for consuming advertising (4) what platform are they on, since you're going to optimize the viewing experience for them (5) if you have all that information, what bucket are you putting them in, in the traditional ad sense. So that they're effectively being targeted with the right kind of ads."
Brett Wilson noted that,"the hardest part of online video is getting your video watched," and that approximately 50% of all the videos on YouTube have under 500 views and there's only .33% that have over 1 million views. He cited a Tubemogul research study that looked at how much a typical online video is watched, which found that most viewers click away from the video after the first minute.
"I think one thing we'd all agree on is that a metric we would all like to see become more standard is viewed minutes. So right along side a view you'd see how long they actually watched."
A few key take-aways from the panel were, that not all video campaigns are the same so figure out the specific ROI each of your campaigns, focus on reach rather than views and don't assume you've isolated the key metric. Key data can come from somewhere you weren't even trying to measure.

Related @ovpsummit Tweets:

OVP Summit analytics panel session, "Measuring Success" with @visiblemeasures @DsmithsBen @tubemogul @Accordent_Tech#ovps09