Treepodia – The leading Product Video solution for e-commerce

Everybody knows video is on the rise - but how much?...

A recent study published by Tubemogul, a video distribution and analytics startup, in partnership with Brightcove, a video platform, provides some interesting insights and statistics regarding the ways and places we’re all finding, viewing and sharing video content.

Before diving into some of the cool numbers shared in the study It’s important to note that the study is based on numbers garnered from both companies’ data, which means that it only represents a certain segment of video consumption. This isn’t to say that the data isn’t valid – only that it’s partial and should be viewed as such. For example, data regarding Youtube, which alone accounts for ~40% of the market, is not covered by the study.

Video Engagement Statistics

• Broadcast networks take the lead in terms of viewing time per stream
  Online video content from broadcast networks is watched on average 2:53 minutes per stream. The networks are followed by music labels (1:50 min.) and newspaper publishers (1:41 min.)

• Newspapers and magazines lead in terms of video viewing completion rates
  Interestingly viewers are most likely to watch an entire video when they are consuming it on a newspaper’s site. Newspapers and magazine publishers video viewing completion rates are about 40% each closely followed by broadcasters (38%) with music labels bringing up the rear with 29%.

• Twitter leads in terms of referral engagement
  Twitter referrals generate the highest level of engagement, when compared to other referral sources, for broadcast networks, music labels and magazine publishers. Interestingly newspaper publishers enjoy their highest engagement rates with viewers referred from Yahoo.

Facebook’s shameful share

Another interesting statistic published in the study is Facebook’s share in driving online traffic. Although Facebook’s community has increased by 2% in April alone, and despite the fact that over 34% of the entire adult demographic in the US is already using Facebook, accounts for only 0.40% of video traffic.

I think that if nothing else this number, if correct, speaks volumes for the relatively poor experiences Facebook delivers in terms of video viewing and upload. Considering how popular video is, and considering Facebook’s incredible adoption levels, Zuckerberg’s social behemoth – a leader in almost every other online field, should account for more than %0.40 without even trying!

I’m pretty certain that when Facebook chooses to address it’s video usability issues its market share will improve dramatically almost immediately.

Join the video bandwagon with Treepodia Video Distributor

All these numbers are good and well but how does this reflect on your business and your day to day marketing efforts? Well, although I’m hardly what you’d call objective, I believe the joint Brightcove Tubemogul study provides further validation for our Video Distributor product, which syndicates etailers’ product videos to video sharing sites (Youtube, Dailymotion, Metacafe, etc.). Since we released Video Distributor in February we’ve consistently seen consumers searching for, and learning about our clients’ products on the video sites, and then coming in to make their purchases on our clients’ sites. This trend was confirmed by all the pilot partners who helped us test Video Distirbutor before we made it publicly available.

Image credit: http://www.flickr.com/photos/ndevil/3491395689

One of the interesting facts regarding the evolution of human cognition is that, as a society, our attention span  is dwindling.

Attention spans have shrunk by over 50% in the past decade

According to a Lloyds research tracing the causes of home accidents, attention spans have shrunk from 12 minutes in 1998 , to around 5 minutes in 2008. The Lloyds research states that when asked respondents blamed ‘stress’ (18 percent) and ‘decision overload’ (17 per cent) as the main reasons for poor short-term memory and flagging attention spans.

Product Videos – How long is too long?

The relevance to online videos, of course, is that attention spans matter particularly in terms of determining the length of your product videos. You want to make these videos long enough to deliver all of your pertinent facts, yet short enough to maintain viewers’ interest until the end. The question is, what’s that magical length?

There are two basic stats you might consider when determining your norm:

1. The length of an average commercial
2. The length of an average online video

How have commercials evolved?

In terms of average commercial length, Wikipedia delivered an adept and, in light of the aforementioned dwindiling of attention spans,  predictable answer:

“In the 1950s and 1960s, the average advertisement’s length was one minute. As the years passed, the average length shrank to 30 seconds (and often 10 seconds, depending on the television station’s purchase of ad time)… However, today a majority of advertisements run in 15-second increments (often known as “hooks”).”

In other words, with the progression of time, commercial length has been reduced to about 15 seconds, with a maximum of 30. Sounds (and views) about right.

What’s the length of the average Online Video?

In terms of online video length, the average length is according to ComScore a whopping 3.5 minutes. This figure may be surprising until one realizes that ComScore’s number factors in ALL online videos, including full length television episodes on Hulu, etc.

Less is More – Keep your videos as short as possible

In general, as the saying goes (and for good reason), we say, keep ‘em short and sweet – more along the lines of traditional commercial lengths at most. While video may grab shoppers’ attention, it will likely only hold it for a short time. And remember, not everyone who presses play, will watch your video all the way through.

How Much of a Typical Video Online Is Actually Watched?

At 60 seconds more than half your audience is gone

As the above graph based on a TubeMogul study shows, at the 30 second mark you’ve already lost a third of your audience and after a minute you’ve lost more than half, so try and get all your information in as soon as you can, in the shortest amount of time necessary.

Beyond that, as with all elements of video, you will need to continually do testing to determine if length, is influencing your results (and to what effect), and adjust accordingly.

Image credit: DeaPeaJay

On his popular “DigitalBuzzBlog“, Aden Hepburn recently published a post commenting on the latest video from the gang at Socialnomics:

“Social Media ROI is the hardest job in town”

In the post, largely based on a post published on Socialnomics’s own blog, Aden claims that:

“Everyone knows that trying to measure Social Media ROI is the hardest job in town. It’s so diverse in every application that there is no single (or simple) way to measure all the outputs into a single report, let alone track sales indirectly from the effects of their social presence.”

Granted, a single dashboard for measuring the effects of your Social Media efforts, isn’t something I’ve come across yet. However there are a number tools that can give you a pretty good idea, especially when used together.

Introducing Better Google Analytics

For those of you using Firefox there’s a free and funky solution I’ve been using for a while and highly recommend: The “Better Google Analytics” GreaseMonkey scripts by Erik Vold.

Better Goolge Analytics add, amongst other nifty features, a set of social media related data to your standard Google Analytics dashboard. Since Better Google Analytics is a GreaseMonkey script all you have to do is install the addon and your good to go – simple, quick and zero risk.

Do you Youtube insight?

Another tip is the splendid “Youtube Insight” dashboard accessible with any Youtube account.
Once you have enough volume, Youtube Insight provides great demographic data regarding the people who’ve viewed your videos. If most of the views for your video come from embedded views on your video you can also easily cross reference the Insight data with the any other stats you collect.

Tubemogul for video analytics

My last tip is also related to video:
Tubemogul, an excellent video syndication platform, has a nice analytics panel for following cross domain video campaigns that they make available to free accounts as well. You’re welcome to learn more about what they do from the following video presentation I found on their homepage:

Measuring Social Media ROI – Not easy, but not impossible either

Indeed a 1-stop-shop for tracing and proving Social Media ROI is, as of now, still unavailable. But, if you’re prepared to invest a little extra time, you can piece together a pretty complete picture from the fragments that are available.

Does Microsoft have a LookingGlass up its sleeve?

As a final note, for those of you who remember, in September the web was all a-buzz about Microsoft’s LookingGlass which will supposedly finally answer the market’s need for a one-stop Social Media analytics panel. I Guess we’ll all just have to wait and see…

Epilogue

Funnily enough, an hour after publishing this post I found an excellent post by David Berkowitz that lists no less than 100 ways to measure social media. A day later I ran into a great post by Urs Gattiker of SocialMediaToday, that did an excellent job of analyzing why Social Media ROI analysis often fails and suggested a few point for planning strategy that helps avoid these pitfalls.

image credit: annia316