There is a saying that you can’t know what you don’t know. This has never been truer than in today’s digital landscape. The reality of measurement and transparency is that, despite our best intentions and efforts, we have still come up short on tying investments and placements into engagement…especially when it comes to digital video.
The consumer’s appetite for video is indisputable. In fact, Cisco reports that global online video traffic will make up 80 percent of all internet traffic by 2019. Furthermore, Google estimates that YouTube accounts for two-thirds of premium online video viewing across devices, and Adweek noted that Snapchat users watch more than 10 billion videos each day, with more than 500 million people watching videos on Facebook every day.
For obvious reasons, video represents an unprecedented level of opportunity for companies looking to amplify their digital engagement efforts. However, many companies still lack a formalized strategy for implementing video, and worse, the metrics currently being used to gauge the success of video are questionable, at best. Many organizations are still applying the same metrics for online video that they use for TV advertising, and with Facebook and Google both admitting to flawed, incomplete and often incorrect reporting structures for video campaign outcomes, it is becoming more important than ever for marketers to establish reliable strategies and metrics for video performance.
Without the right metrics, companies risk having a serious misunderstanding of the impact of their video engagements. But metrics are just part of the story…context completes the picture, and marketers are even further away from understanding the context of placements. Without contextual consistency, marketers run the very real risk of completely misunderstanding viewer intention. Not all impressions are created equal, and views and completion rates can’t guarantee that a video is actually being seen. Amid all of these questions around video, one thing is certain: performance without contextual consistency is not giving companies the full picture when it comes to their video investments.
With the level of opportunity that video presents, how can marketers ensure that they are getting the biggest bang for their video investments? What metrics truly matter when it comes to understanding video campaign success, and how can marketers achieve the contextual consistency they need to really understand how their videos are performing?
The CMO Council is partnered with Vuble, a leader in helping companies achieve video transparency, to host an hour-long webinar on July 10th at 10AM PST/ 1PM EST, where we explored the greatest barriers to success when it comes to implementing video campaigns that deliver the intended results, in addition to the metrics needed to gain full transparency into video performance to understand who is viewing videos—as well as when and where they are being viewed—and determine their impact on the bottom line.
Mary Anne Hensley, CMO Council ; Mike Olson, Fox Rent-a-Car ; Laurent Bury, Vuble