So, you’re on a mission to increase online sales, and you’ve produced eCommerce videos.
You’re using them on your website, your marketing and sales channels, social media, and other places in your business—an excellent step in the right direction.
But how do you know if the videos are meeting your goals?
If you were asked which videos have had the biggest impact on your business, would you know the answer? Don’t panic just yet if you’re coming up short on a reply.
There’s still time to turn to video analytics and measure your video ROI.
Video analytics are an essential part of a video strategy to stay on top of. And it’s never too late to track your performance – even if you don’t know where to start.
Follow along to learn why video analytics matter and the five essential metrics every eCommerce business should track.
Why Does Tracking Video Analytics Matter?
The simplest answer is to help you improve. When you know how your current strategy is performing, you can identify the areas needing attention. It’s only through tracking analytics that you can pinpoint the videos that successfully increase leads, drive conversions and meet goals – and the ones that don’t.
In other words, video analytics are essential to understanding the success of your business. Because without them, you’re doing guesswork.
The beauty of video – as opposed to other content – is that it delivers intelligence that’s undeniably useful to eCommerce businesses. For example, you can measure how much of a video a shopper watched, if they scrolled into view, if they converted or engaged by sharing it with others and more.
Video analytics reveal data-driven insights that can help brands drive meaningful impacts. In fact, 92% of marketers say video has given them a good ROI.
The key is making sure you’re tracking the right video metrics to drive success. So you can say goodbye to guesswork and hello to bigger and better insights.
Here Are 5 Essential Video Analytics Metrics Every eCommerce Business Should Track
1. Conversion Rate
Ultimately, the success of your eCommerce business relies on conversions. Tracking metrics such as call-to-action (CTA) engagement can provide eye-widening insights into the effectiveness of your videos. Are they informative or entertaining enough to drive shoppers to take the desired action? Would they be more effective if they were placed in a different spot on your website?
By tracking click-through rates (CTR) on your videos, you can identify the videos that are successful in driving conversion and the ones that need improvement. Then, you have the info you need to take educated steps to maximize video conversion rate.
2. Video Consumption
Video consumption or video views is the most basic metric for video analytics. It tells you how many times your video has been watched online and for how long. By tracking video consumption, you can identify the most popular videos with your audience and optimize your content accordingly.
For example, if you find that a particular video is being viewed multiple times, you may consider creating similar content. On the other hand, if a video has significantly less views, you may consider removing that video or taking action to optimize it to increase views.
3. Time on Page
Time on page is a metric that measures how long a user spends on a particular webpage. It’s proven that adding videos to a page can increase this metric. It’s why tracking time on page is so essential to understanding how engaging your videos are and how much time your audience spends watching them on your site. If you find that shoppers are spending very little time on pages with videos, it may be an indication that your video content needs improvement.
4. Scroll Into View
Scroll into view measures how far a viewer scrolls down a page before they see your video. Tracking scroll into view can help you understand how visible your video content is and how well it is being integrated into your overall website.
If viewers are not scrolling far enough to see your videos, you may need to consider adjusting the placement to make it more prominent. These minor optimizations can have massive impacts. With more visibility on your videos, you’ll have greater insights into other metrics, such as conversions and engagement.
5. Customer Feedback
Lastly, it’s important to track the helpfulness of your videos by measuring customer feedback. Doing so can help you identify how effectively your videos address customer needs and pain points. Are they resonating with your audience? Do they give them the information they need to buy confidently?
Tracking this metric will help you better understand how your videos are being received so that you can make adjustments accordingly.
Start Tracking Essential Video Analytics Metrics Today
Tracking video analytics is essential for all eCommerce businesses. Measuring performance can help brands gain valuable insights into the effectiveness of videos and help optimize them for better results.
Whether you’re producing customer video reviews or video FAQs, tracking analytics should be an essential part of your strategy. By doing so, you can better understand your audience, drive more conversions, and ultimately grow your business.
However, getting started can be overwhelming if you don’t know where to begin. That’s why relying on video technology can be an excellent option for your business.
StoryTap is an end-to-end video platform that automates customer-powered video reviews, helping eCommerce brands sell more faster. The patented video technology is equipped with advanced analytics, giving you the power to make data-driven decisions that drive ROI.
Chat with us today to learn more about our advanced video analytics.
For more information about eCommerce and video, download The 2023 Future of Retail & Video report.