This week, Facebook launched a new way for advertisers to measure the effectiveness of their video campaigns. Brands have been using video on Facebook for some time now, but Facebook’s recent changes have made video ads an even more attractive option for marketers. Prior to this addition, analyzing the impact of these video campaigns had been missing some context: When and why are you losing people?
Facebook announced that their new and improved Facebook video metrics will include the average duration of video viewed, the amount of time that a person watched 95 percent of the video, and the demographic breakdown of the video’s viewers. In the past, page admins have only been able to see the number of views a video has received, which isn’t enough to make informed real-time decisions.
So why the renewed interest in the success of your videos?
Why does video matter to Facebook?
Video is big, but there’s still a lot of unlocked potential. As you can see in the graph below (featuring data from our 2013 Facebook Study), Facebook photos run the show. But what’s nipping at its heels? Yep, you guessed it – video. The disparity between engagement on videos vs. photos may seem rather large, but a closer look will reveal that the sample size is too small to declare a winner.
Not only that, but video drives the highest quality traffic and engagement. Last month, Shareaholic found that YouTube drives the highest average time on site and pages per visit, with the lowest bounce rate.
Granted, Facebook’s analytics are exclusively for Facebook videos, but what we’re talking about is the power of video. Watching a video is a major signifier of a user who is already more invested and engaged with your content than the average lurker. Mark my words: social video is going to blow up this year. Facebook’s new video analytics will be necessary to give the network the edge over emerging video ad platforms.
What do you think about the new video analytics? Is this something you’ll use for your brand? Let us know in the comments.