What to Look For in a Video Analytics Platform in 2023

We have already dived deep into video analytics. However, knowing about it alone will not suffice. We also need to understand what we should look for in a video analytics platform before we get one. It can be a tricky quest. We are here to help you how you can get your hands on the best video analytics software. Let’s discuss what an ideal video analytics tool can do for your ROI in this article. 

The consumption of videos is perpetually increasing. Ever since its inception, businesses have used video marketing as a tool to increase their profits. Effective video marketing has borne fruits.

The internet has been no exception to the phenomenon of videos. An astounding 92.7% of global Internet users worldwide watch videos each week. However, it has been tough to attribute a Return on Investment(ROI) to digital videos. We do get our hands on stats such as likes, dislikes, and comments. However, generic stats like those will not suffice. We need data that provides more insights than superficial numbers that look impressive but mean very little. We need incisive video analytics to gain real insights. 

Video Analytics is using software to discover, analyze, and break down the value you gain from videos. A video analytics platform does not restrict itself to surface-level data such as likes, dislikes, and comments.

True-blue video analytics software serves consumption stats, engagement stats, conversion reports, and individual viewers’ stats. The demands from a video analytics platform might sound unrealistic. However, Show’s video hosting platform provides insightful video analytics, and much more. 

Before we move on to what to look for in a video analytics platform. Let’s have a look at the benefits of advanced video analytics.

1. Enables Marketing Automation

A video analytics platform provides in-depth data about customers. On Show’s video hosting platform, you also get a CRM with video analytics. You can also integrate HubSpot and Salesforce if those are your preferred choice of CRMs.

Video analytics enables marketing automation as you get your hands on insightful data about your customers. You can set up your automated marketing campaigns accordingly. 

2. In-Depth Insights About the Audience

The general takeaways from video statistics are the views, likes, and comments. However, an advanced video analytics tool provides detailed statistics that are far more helpful than the generic stats you glean from regular video hosting platforms.

A video analytics platform provides statistics such as play rate, avg view time, average engagement, viewers’ heatmaps, and so on. You are equipped with more informative numbers that can do wonders for your business. 

3. Individual Viewer Insights and Customer Segmentation

Normally, platforms give you stats that bring all the viewers under one category. They are general statistics that fail to inform you about the intricate behaviour of the viewers pertaining to videos.

With Show’s video analytics platform, you get information about each viewer. You get your hands on demographic information with viewers’ colour-coded heatmaps that help you know how well your videos appeal to your audience.

When you are equipped with individual viewers’ data, customer segmentation becomes child’s play. In addition, if you time the interactive hotspots in your videos appropriately. You can also get valuable information such as net promoter score(NPS) via your videos. 

4. Track Events and Attributes Across Channels

Google Analytics and HubSpot do not reserve a sole claim to custom events and attributes. Tracking the whereabouts of a customer is easier than done. However, Show’s platform has now made it easy for you to track custom events and attributes.

You get more insightful user data by tracking custom events and attributes. Let’s have a look at how you can do it.

1. Access the user tracking feature by going to the Lead Gen menu on the side menu.  

2. Click on the “User Tracking” option. 

3. Choose the “Script” option 

4. You can install a Show Customer tracking script on your website or web app that will help you sync live user data to your Show account, which will enable your Show team to track your viewer's activity with respect to your video.

5. Intricate Statistics

We are used to generic video stats such as likes, dislikes, and comments. The generic stats do not add any nuances to your business as they fail to serve any valuable insights.

Advanced video analytics leaps and provides far more detailed statistics. It offers nifty details about user- engagement, interactions, and viewing patterns with your videos.

Proper video analytics is necessary to gain real insights. Your videos might garner many eyeballs. But it is useless if we do not have data about the viewers. 

6. Being Able to Provide a Personalized Experience

The disconnect among human beings is ever-increasing. However, human beings feed off connections. Every business needs to capitalize on human beings’ intrinsic need to connect.

Information about individual viewer stats and engagement with videos is like gold dust for marketers and sales teams. Intelligent video analytics makes your job easier by giving you incisive data about your viewers and data.

Let’s say you run an online tutoring firm. A segment of the audience watches courses on market research more than A/B testing. You can set up email marketing campaigns accordingly. You can push more content related to market research to them. Otherwise, you can conduct user interviews to know why they prefer to learn more about market research compared to A/B testing. Based on the insights, you will know whether you should optimize the A/B testing course or you should simply do away with it.

Using the individual viewers' viewing patterns and engagement on your videos, you can create personalized marketing campaigns that cater to them and win over them. 

7. Time and Cost-Saving

Getting detailed video consumption stats, video engagement stats, and conversion reports in a single video analytics platform sound surreal but it is true. Normally, extracting such valuable data might have taken eons. However, with Show’s advanced video analytics, it is child’s play. 

You get all this under a single with Show’s video hosting platform. You do not have to invest tons of money. The prospect of video analytics at a reasonable price is too good to pass. 

8. Increased Revenue

We can romanticize the passion and vision behind a business. We can write a thesis about the psychological boost one attains from watching their ideas come to life as a business. Ultimately, profit is the lifeline of any business. Creating great video content to suit trends is just not enough unless you can back it up with data and proof.

A fully functional video analytics and interactions tool like Show helps you take action on your video. You can track data that is meaningful to your business case, and engage with audience segments that matter to you.

Professions that Benefit from Video Analytics

Every industry resorts to video marketing. Video-first marketing is in vogue now. Let’s look at the teams in a business that benefit from video analytics.

1. Video Analytics for Marketing Teams

As we have discussed above, video analytics is a boon for marketers. It helps marketing teams in numerous ways. 

(i) Personalized Marketing: Individual viewer stats are a goldmine for marketers. They give you insights into viewers’ engagement and their viewing patterns. The data can be put to great use by personalizing marketing for viewers.

(ii) Identifying the Value: Businesses blindly churn out video after video without knowing whether the videos create value for their business. With video analytics, the marketing team can identify and attach a value associated with a video.

(iii) Profound Insights: Video analytics provide far deeper insights than your general stats like likes, dislikes, views, and comments. You get your hands on so many numbers and viewing patterns that are useful in the present and long run. 

2. Video Analytics for  Learning & Development(L&D): The virtues of video analytics are not limited to marketing. They also help the corporate trainers and the L&D teams in the following ways.
   
   (i) Improved Insights: Today, many companies work remotely. As much as it is helpful, the L&D teams might not be able to check whether their courses are helping the employees.
   
   With video analytics, L&D teams gain insights about their employees. They can modify and improve their courses accordingly.
   
   (ii) Enhanced Learners' Experience: As we discussed above, video analytics can do wonders for your employees’ training. You get to know valuable insights about your employees. Using video analytics, you can design your courses according to the data from video analytics. This will help you enhance the learners’ experience.
   
   (iii) Increased Efficiency: L&D teams are under pressure to ensure successful employee training. Businesses bank on them to set up the employees for a great tenure at their company.
   
   Video analytics helps them gain insights and set up better courses. This results in increased efficiency as the L&D teams can learn from video analytics and set up better courses.

3. Video Analytics for Sales Teams: When it comes to profits, the buck stops at sales. Let’s have a look at how video analytics helps sales teams.
   
   (i) Improved Sales Messaging: By analyzing viewers’ data, sales teams can improve their sales messaging. They can target customers in a better manner. Video analytics can help sales teams lay a strong foundation for their sales strategies.
   
   (ii) Enhanced Customer Experience: Sales teams can use the data gleaned via video analytics to gain insights to comprehend what appeals to the customers. The takeaways from video analytics can shape sales teams’ strategies.
   
4. Video Analytics for Customer Success Teams: The journey does not end with acquiring a customer. Customer acquisition gives birth to customer support, customer retention, and ensuring that the customer can get value from your product. Here’s how video analytics can help customer success teams.
   
   (i) Improved Customer Support: Customer success teams constantly look for better ways to serve their customers. The data from videos can help the customer success teams to cater to the customers accordingly.
   
   (ii) Better Customer Experience: Video analytics can help customer success teams get an idea about the customer's pain points or if your product is confounding the customer in some manner. The customer success team can use the insights to quell any customers’ gripes about your products. 

Here is what you should look for in a video analytics platform.

1.  Accuracy
   
   By accuracy, we do not just mean the numbers. Accuracy also means accurate heat maps, accurate data according to customized dates, and accurate information about the viewers. With the wrong information, you might end up barking up the wrong tree.
   
   It is fundamental for a video analytics platform to be accurate in every sense of the word. However, the backend architecture of a video analytics platform is complex. Not many platforms get it wrong. That’s why Show has tried and tested their video analytics platform to ensure they glean the correct numbers. 

2. Individual Viewer Stats
   
   A video analytics platform might provide precise numbers about the videos’ consumption and engagement rates. However, if they do not provide demographic, quantifiable, and viewing patterns. They are not video analytics platforms in the truest sense.
   
   A video analytics platform has to provide individual viewer stats so that you improve your business strategies accordingly. 
3. Easy to Use
   A competent video analytics platform should provide users with intricate statistics beneficial to the business. However, that does not mean that the user experience should be the same.
   
   Customers should be able to use the platform seamlessly. Before buying, businesses should ensure that the platform has an intuitive interface.
   
4. Scalability
   
   Every business wants to scale higher with time. However, the scaling of a business does not happen in isolation. It happens holistically. When a business expands, its tools are also expected to accommodate its bigger vision and customer base.
   
   However, if a video analytics platform is unable to provide them with the additional bandwidth required. It can harm a business. As the switching costs of a video analytics tool are high. In addition, it may have a steep learning curve too. Hence, a video analytics platform needs to be scalable. 

5. Cost
   
   Cost efficiency is a no-brainer. Video analytics has to be priced to be feasible for a business. An unreasonably priced video analytics platform can be a liability rather than an asset for a business.
   
   Here’s where Show comes out on top compared to its competitors. Not only does it provide far more insightful video analytics but it is also affordable to businesses. 

6. Other Features and Integrations
   
   A business needs to be the sum of its parts. It can have the best tools, however, everything will go in vain if its tools fail to come together. The same applies to a video analytics platform. Its sole purpose cannot be to give out numbers and individual numbers.
   
   It should be a complete video platform. In addition to providing video analytics, It should be able to host videos, organize them, rank videos on the first page of Google SERP, and provide incisive video analytics. The least it should have is a CRM that allows you to store customer data according to their engagement with the videos. 

7. Support Resources
   
   A video analytics platform must ensure that they are providing its customers access to handy resources that serve the customers well. The resources should comprise both videos and written documents that are articulate.
   
   In addition, if a customer is stuck with a problem that requires human resources to assist them. A video analytics platform must provide them with human resources that respond and solve the customers ‘ grouses as soon as possible. 

Conclusion

One cannot overstate the importance of video analytics. It allows you to gain consumer insights like never before. On paper, video analytics is not child’s play. However, we do have a platform that makes it look easy. Book a demo with Show to have a finger on the pulse of your audience.