I can't remember if it was Oscar Wilde that said 'a cynic is one who knows the price of everything and the value of nothing', he comes up with most of these sayings...in fact if there is ever an English pub quiz question that starts "Who said.." it is a statistical fact that 77% of the correct answers will be Oscar Wilde 22% will be Winston Churchill
However more than a hundred years later it's still the case that the vast majority of people I encounter in my day to day working existence bang on about performance metrics based on quantity rather than quality
No more so is this the case than in digital - why, with all the cool kids who are defining the new wave of communications and marketing do they still define digital marketing opportunities in terms of old, outdated language?
Online video is the new big thing (but probably not by the time you've read this) —surely its time we started to re-examine how we measure consumer behaviour online. Virtually all current media metrics (especially digital) are agency created and driven solely by convenience, therefore its no surprise that they are based on quantity - numbers are far easier to measure and manipulate than words
Apparently close to 20% of all internet users globally visit YouTube daily, 400 million videos are streamed daily and there are over 200,000 uploads per day on the site - how come the best metrics we have for this phenomena are:
- Number of visits
- Number of video views (page view become video view)
- Number of video views per visit
- Number of video views per session
- Total viewing time
- Average viewing time
Now before I start ranting its true we are definitely in need of measuring videos more and more. However, I must say that the KPIs we see resemble a lot the the old world, more Bush than Obama and not very actionable.
The main question we get from our clients when it comes to videos is simply how watching them influences applications, registrations sales or profits...has anyone cracked that yet? Can you help?
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