Can Your Video Compete on Social Media?
In An Oversaturated Market, Socialbaker’s New Video Performance Benchmark Feature Keeps an Eye on Context and Competitors So Your Video Doesn’t Lose Out
Four in 5 millennials check out video content when they research a purchase decision. More than half of the population watch videos online every day. Facebook is rated as the most impactful social channel for video — 8.4 times higher than any other social channel — with more than 8 billion videos being watched each day. Adoption of native video across media is almost 100%, and across brands above 80%. Videos are 6 times more likely to be retweeted than photos and 3 times more likely than GIFs. Companies who use videos in their marketing experience 27% higher Click-through Rate than those who don’t.
Marketers definitely need to keep their video strategy up and running. To meet audiences with content that resonates with them, it’s now a must to integrate video into the wider social media strategy. However, many marketers are still unsure what video KPIs they want to tie to larger marketing objectives.
Recently, Socialbakers, the leading AI-powered social media marketing platform, announced the addition of its video performance benchmarks for social networks to its Socialbakers Suite. Socialbakers video performance benchmarks let marketers view their video performance metrics in a competitive context against industries, countries and regions. These benchmarks go beyond the simple measures available on social platforms about the brands’ own content.
Metrics indices for video performance benchmarks include: overall score, video views (total, 10 and 30 seconds), video viewers (unique, unique 10 and 30, time watched, average time watched), and view types (repeated, click to play, auto).
“Socialbakers provides customers with a comparison of video performance metrics on a page level, against industries, countries and regions, allowing marketers to determine where they stand based on performance. They can then make adjustments to their video strategy and engage audiences through video content in a significant way,” said Moses Velasco, Chief Product Evangelist at Socialbakers.
Video Benchmarks help marketers navigate the relationship between the obvious potential value of video, the oversaturated environment in which they compete and the actual investment it takes to make an impact. With Video Benchmarks, marketers can finally judge their private videos metrics realistically and adjust their video strategy to improve their position and deliver ROI from social media.
Having Video Benchmarks within Socialbakers Analytics allows marketers to easily monitor all aspects of their video strategy in a single location, providing a comprehensive overview of everything related to their video campaigns. Compared to native video analytics, the ability to track all video performance metrics, regardless of where they have been uploaded, allows for seamless integration of video insights with other marketing data.
Update your metrics
In the last 10 years, the digital landscape has changed, with consumers phasing out desktop and laptop computers to search the web and interact with content, turning to their mobile phones and tablets instead. Due to this shift, video as a post type is growing rapidly, as it is one of the few types of online material that provides the value, relevance and flexibility consumers need, in a quick and succinct way to fit consumers’ on-the-go lifestyle.
Videos, both traditional and live, are an engaging post type and marketers know they must use video to remain relevant. However, it’s still a less familiar, less certain landscape to navigate. Many marketers, especially those who are relatively new to video, are still unsure what video KPIs they want to tie to larger marketing objectives.
“Before Video Benchmarks, marketers could only monitor their own performance over time, and only monitor the competition’s public metrics; however, neither of those metrics tells the whole story. As video continues to grow, both with sharing content and consuming, marketers can use Video Benchmarks to help compare their overall results against a more meaningful standard in order to fine-tune their strategy, identify performance gaps and develop best practices and justify the impact video has on their larger marketing objectives,” said Velasco.
Leveraging the largest social media data-set in the industry, Socialbakers’ social media marketing platform helps brands large and small ensure their investment in social media is delivering measurable business outcomes.