As the popularity of video streaming rises exponentially, media companies can utilize analytics tools to better understand their audience and boost engagement in profound ways.
It’s becoming increasingly important to embrace the power of video streaming metrics. Although systems based on streaming analytics require additional resources at the onset, this approach makes much better use of those resources in the long term, in part because this path removes the need to reanalyze the entire history merely to extract useful data.
We’re living in an era of real-time media consumption. In the world with widespread high-speed internet connection and heavy smartphone use, video is now the go-to content type for the majority of people. It comes as no surprise that in conjunction with traditional video releases live streaming has become an essential component of the marketing arsenal for brands in almost any industry. By broadcasting a live video from a simple smartphone businesses can now engage customers into live conversations, add remote attendees to their events and leverage all the power of real-time interaction.
This reality obviously requires equally immediate analytics tools to stay on top of the latest trends and accurately predict where technology and audience are going in the future.
But what’s the best approach for choosing the right platform? And which video metrics are essential to consider when devising an analytics strategy to effectively harness the power of this plethora of data?
The key to selecting the most appropriate platform to use is finding the option that aligns best with a brand’s audience. The world of live streaming is rapidly changing as the technology evolves, so platforms are continually revising their methodology to match the transforming landscape. In fact, one of the first apps dedicated to live streaming video, Meerkat, has closed its operations, illustrating the challenges that exist in keeping up with the video revolution. Some of the biggest players in the live video streaming sector are YouTube, Facebook, and Twitter, who are all working diligently to increase their share of this exploding market. Ustream is another platform that’s going for a different approach. Their Pro Broadcasting Video Marketing Module allows collecting valuable lead information from remote viewers.
Perhaps most intriguing of all the platforms are Snapchat and Instagram, which are known for their ability to engage the ever-important Millennials and Generation Z. Considering the consumer expectations for highly personalized content delivery, these platforms are the perfect tools for brands who are focused on segmentation aimed to reach a younger audience.
Virtually everyone agrees that video has become an all-important part of social media marketing. But how can you accurately measure the success of your content? It appears that each platform has its own range of features and metrics. As an example, Facebook Live count a video view as three seconds, while Instagram Live and Periscope mark a video as viewed simply based on it being opened. To further complicate matters, some metrics can be affected by video auto-plays, auto-loops, different video maximum length and other features which often depend on a platform. It is therefore imperative to develop a comprehensive analytics plan that takes all of these differences into consideration.
Although navigating video streaming analytics is a challenging undertaking, it’s a vital part of a successful media brand. By choosing the right platforms and accurately understanding the available metrics, companies involved in video streaming can fine-tune their marketing campaigns to reach their desired audience in an extraordinarily personalized and engaging manner.
Share your related video streaming analytics stories or concerns with me @SBludov.