From startups to enterprises, businesses are using animated explainer videos to create compelling, fun, simple online advertising that explains their products and services. Explainer videos have become a key piece in marketing, promotion and publicity strategies for companies of every type and size, and the reason is simply this: video works.

Video advertising reaches customers.

According to comScore’s online video rankings:

  • More than 187 million Americans watched 46.6 billion online videos (March 2014)
  • Video ad views totaled 28.7 billion (March 2014)

But how do you attract viewers and then convert them into buyers?

Just because you don’t have a big marketing budget does not mean you can’t create incredible videos. And if you do have a big marketing budget, you probably have to show ROI on your video content creation and publishing spendings to upper management.

Enter video analytics.

Measure and evaluating your explainer video metrics will help you create better videos and convert potential clients into actual buyers. When used correctly, video analytics will help you justify to upper management your spending marketing dollars on video creative that you hope to publish online.

What do your video metrics mean?

Understand that collecting video analytics is only half of the battle. You have to first get traffic, then understand, interpret and be able to convert your analytics into actionable data in order for it to be useful to you. Here are a few resources to help guide you through that process.

Before I give you my four favorite video analytics tools for any marketing budget, here’s an overview of some video metrics that you should be tracking, and what they mean to you.

  • Unique viewers and number of views: This isn’t a measure of success on its own, but this number will help you better understand your distribution strategy.
  • Drop-off rate: This number helps gauge your viewers’ attention spans in respect to your video. On average, do more than 60% of your viewers watch your whole video?
  • Click-through rate: Use your video on different pieces of marketing material and perform A/B testing. Split-test the results of sending PPC traffic to a landing page with and without video on it or a content email blast with and without video. Which has the better performance?
  • Number of leads generated: Don’t forget to give your viewers a clear call-to-action (CTA). But, also don’t forget to create a way to track the results of viewers watching your video. If you want viewers to call a phone number, use a unique phone number in your video CTA so that you know which calls came from video-generated leads. If you are sending them to your website, send them to a landing page that you created specifically for those video viewers and track the number of leads generated from that landing page.

4 video analytics tools for better explainer videos

  1. Vimeo Advanced Statistics. You must be a Vimeo Plus ($59.95/year) or Pro Member ($199/year) in order to use Vimeo Advanced Statistics. However, for companies on a tighter budget or if you are simply trying it out, you can sign up for Vimeo Plus for $9.95/month and have access to Vimeo Advanced Statistics. Besides allowing you to integrate with Google Analytics, Advanced Statistics allows you to look at weekly, monthly and annual video metrics, see where your viewers are geographically located and who is Liking or Commenting on your videos. Statistics covers the basic metrics and lays them out in user-friendly dashboards that are easy to understand.
  2. Vidyard. Vidyard has the capability to deliver video metrics by the second. Besides tracking viewer attention span and video viewing history, Vidyard tracks click-through behavior, video shares, geographic location of viewers and allows you to set and track goals for your videos. The great thing is, you can register for a free trial account or request a demo before you make a decision about whether Vidyard is for you.
  3. Google Analytics. Google Analytics is obviously the industry standard when it comes to website optimization and tracking conversions. With a little technical savvy you can use its Event Tracking feature to track video views, plays, stops and click-aways on your website. With additional codes from Google, you can get deeper into video metrics and easily juxtapose them with other metrics on your website. And, Google Analytics is free.
  4. YouTube Analytics. Yes, the world’s most popular video streaming site has a fabulous analytics dashboard, and it is also free. YouTube’s basic analytics tools track comments, likes, dislikes, share count and total views as well as subscribes, unsubscribes and demographics. The great thing is, YouTube helps you track pretty much all of the metrics that it uses to rank your video in its search engine.

You know that creating engaging content is the key to video marketing success. Using metrics properly can help you do that by giving you direct insight into viewer behavior. By using video metrics to enhance your online marketing model, you will drive more high-quality leads to your sales team and turn people shopping for product into people buying your product.

Read more: