Are you leveraging your video analytics in your video marketing campaigns?
When we talk about search analytics, we are mostly talking about Google. But analytics – like the rest of the internet – are constantly evolving…
YouTube was once the playground of fame seekers looking to earn their 15 minutes through 15 seconds of acting ridiculous. (OK, let’s face it: It still kind of is that place.) However, as the site has grown, businesses have identified it as a powerful platform for reaching customers.
YouTube is now the second-largest search engine available. In addition, videos have been prioritized in Google search thanks to some algorithm updates that were made a few years ago. That means that hosting videos on YouTube can have the twice the impact on your marketing campaign.
You need to monitor your performance on YouTube just as closely as you would in Google so that you can see how effective your marketing campaign is and whether you need to make any tweaks. The best way to do that is with your analytics, which are divided into watch time reports and engagement reports.
Here’s what you need to pay close attention to in your video analytics:
You will get two pieces of information from your analytics: The number of minutes watched and the average view duration.
Minutes watched can help you understand the general popularity of your channel, but it won’t tell you much else. You don’t know how many videos were watched in that amount of time.
Just like with your site, you want people to spend more time with your content. That means that you want to pay special attention to the average view duration, which will tell you how much each visitor is watching. The longer your visitors are watching your videos, the more engaged they are and the more effective you can assume your videos to be.
Number of Subscribers
Video subscriptions are like email subscriptions. They are a powerful tool for lead generation.
You may not be able to contact those video subscribers individually, the way you would with an email list, but you can be sure that they are seeing your newest video when it is released. Your new videos will appear in their news feed, and your subscribers will get an email notification that the video is available.
You can include direct sales pitches in your videos, or you can include captions on the videos or links in the video descriptions. Just make sure that you are maintaining the right balance of entertaining or informing your customers with trying to sell to them.
Shares are a great indicator of customer engagement.
Shares show that your watchers are so impressed or so otherwise moved by your videos that they want to tell other people about them. You know that you are doing something right when your videos are getting a lot of shares.
Shares also help expose your brand to new audiences without you having to spend any extra time or money. Your customers are essentially becoming free brand ambassadors by sharing your videos, and you are getting a lot more bang for your ad dollars.
Playback locations are like incoming links. They show you where your videos are being shared and where your brand is getting exposure.
By checking out the playback locations, you can also learn what customers are saying about your videos and your brand. You can glean insights that can help you improve your videos, your marketing campaign, your products, and more. That’s the kind of feedback that you can’t buy.
Demographics let you know what kind of customers are responding to your videos.
You will learn the gender of your watchers, the age range, and the location. This is invaluable information that will let you know who is engaging with your videos and whether you need to make any changes.
For example, if you are promoting your product to men, but you find that mostly women are watching your videos, you will need to make some changes. It may be that you need to change something in the videos that makes them more appealing to men or that you need to change something in the way you market the videos. Alternatively, you may find that you have an untapped market for your product in women thanks to this information.
Pay close attention to how users are engaging with your videos based on their demographics, such as how long they are spending on the site and how many videos they are watching.
Video analytics can help you guide your video creation and marketing so that you get more engagement for your brand, which will encourage customer loyalty. A strong video presence can help you boost your search rankings, increase visitors for your site, and increase your revenue. You should treat your video presence as seriously as you treat your website and your overall digital marketing campaign.
Analytics for software companies are similar to those used by e-commerce sites and other merchants, but they aren’t identical. The vast majority of developers and software companies don’t monetize their apps via paid purchases. Instead, they use advertising or in-app purchases to monetize their software.
In this case, in-app purchases or advertising conversions are the ultimate goal of a conversion funnel. This can be a bit more complicated and dicey: you want users to stay engaged with your program as much as possible, but you also want them to convert on advertisements.
Understanding the Conversion Funnel
The conversion funnel is the model that online marketers use to describe the sales or purchase funnel. That is, this model describes the customer’s typical journey towards making a purchase.
Typically, the funnel is modeled as a four- or five-stage process. Customers – or, in this case, app users – transition from not knowing anything about your product to downloading the product, engaging with the product, and converting on offers.
Awareness – This is the initial stage, where users first find out about your app.
Interest – The user becomes interested in the target app.
Desire – The user wants to download the app.
Action – The user downloads (and engages with) the app.
Now, this model is the typical purchase funnel used in e-commerce and retail situations – though, in this case, it is slightly adapted for the developer. It describes the users’ overall journey as they become prospects, then leads, and then make purchases.
But how well does this model work for software companies?
We won’t delve any further into marketing theory, but, as we can see, it presents a small problem. This model presupposes a single purchase at the end of the funnel, whereas a developer or software company needs to do its best to understand the user’s needs and the user’s app experience.
The closest that we can come to understanding the user experience is by using analytics to track user engagement. What this means is that we need to utilize analytics that begin where the conversion funnel ends.
But before we can track user engagement, we need to actually bring them to the Action stage.
Tracking Points: Inside, Outside, and Everything In Between
Here are analytics that software companies should be using in order to monitor their conversion funnel from end to end:
Awareness – The outermost portion of the funnel typically consists of display advertising. One of the most telling metrics for this portion of the funnel is click-through rates. Advanced analytics tools may be able to provide you with hover rates or view rates.
Interest – Social media often enters the scene at this stage, so paid social media advertising and other social media metrics should be tracked at this point in the conversion funnel.
Desire – During this stage, customers develop an intent to purchase. Several other types of advertising can play a role in pushing customers forward towards the Action stage, including email marketing and other paid advertising.
Action – The biggest influencers for the final decision to make a download are typically the final point of contact, including contact points such as organic search, website visits, other paid advertising, app store listings, software directory listings, and so forth.
Since the customer journey does not end with the app download, software companies have to monitor other metrics that begin at that stage. These may include:
The Installation Funnel – The installation funnel, used for pay-per-install software monetization programs, can track everything from the initial download to the abandonment rate. This funnel monitors the effectiveness of the installer ads and ends after the download has completed.
In-App Engagement – Any proprietary analytics or other analytics that are incorporated into the app itself should be included in any conversion funnel metrics. Typical time metrics, click volumes, and so forth should all be measured.
In-App Ads and Purchases – Ad conversions or in-app purchase analytics, when used in combination with engagement metrics, can give useful analytics for software companies. Together, these are among the most vital statistics for measuring the effectiveness of a monetization strategy.
Uninstalls – Finally, tracking uninstalls is another ideal way to know what works and what doesn’t. The combination of all in-app analytics, along with user feedback, can give a holistic picture of how to fix the very final stage of the conversion funnel.
In a sense, the app itself is like the website or the shopping cart for an e-commerce site. Users need to stay engaged until they convert.
While some marketers debate the efficacy of the conversion funnel, it does have its uses. It provides a simple framework that allows us to set marketing goals, track them, and refine our strategies. For developers and software companies, analytics that track user engagement provide a means for improving app design as well as monetization strategies.
It’s exciting times at CodeFuel. Not only have we just launched our brand new look website, but we are also proud to release our new monetization video.
The video starts with the question: “What on earth is monetization?” and then quickly takes you on a whirlwind ride showing you how to monetize software or apps.
On top of trying to be the next Steven Spielberg, we at CodeFuel have been busy redesigning our website, which includes a new logo, new look, and feel, as well as lots of new information from the industry’s leading software monetization platform.
Our website includes a new How it Works section, explaining just how we can help you can make money with your software. This section includes information on how simple it is to monetize your app or software. Simply, sign up at CodeFuel and one of our monetization experts will be in touch to discuss your business needs.
Once you have selected your preferred monetization solution our tech team will guide you through the simple integration process. Then once deployed, you’ll receive monthly payments. CodeFuel offers a range of business models including Pay Per Install and Revenue Sharing.
Software Monetization Solutions
CodeFuel provides software monetization solutions for developers, publishers and advertisers worldwide, empowering digital businesses to make more revenue from installs, traffic, display ads, and search.
Our suite of free monetization solutions includes InstallFuel, a smart installer that offers targeted recommendations during installation, and MobileFuel, a new set of monetization solutions for Android app developers – including in-app search feeds that can be easily integrated to fit apps.
SearchFuel is a range of customizable search boxes and other search-based monetization tools. CodeFuel’s search tools are enhanced by its long-term relationships with major search engine providers including Microsoft’s Bing, with which Perion recently signed a new three-year agreement.
Monetize, Optimize, and Analyze
If all this wasn’t enough, the new site also boasts a new cloud-based Control Center that serves as an analytics hub for developers, providing detailed data on revenue, traffic, and installs, as well as real-time reports and A/B testing.
The Control Center also features an updated user interface, revenue analysis, and performance by applications, customizable dashboards, and a campaign manager feature to optimize product inventory and manage capabilities.
Search engine optimization and social media marketing may get you increased exposure for your brand and traffic to your site. However, these are strategies that can take a long time to pay off. It could be months or even years before you start seeing the strong and steady stream of traffic that you want, let alone the surge in conversions that you need.
Buying advertising can help you get the results you need in far less time. But you can’t just throw money at the problem and expect to make all your dreams come true. You need to spend just as much time and effort developing a strong advertising campaign as you would creating your content marketing or social media marketing campaign.
Here are some of the strategies that top online advertisers use and that you should be using, as well:
Create Brand Personas
Defining your target audience is essential to the success of your advertising strategy. The target audience dictates what the content of the advertising needs to be, where it needs to appear and what tools need to be used to deliver it. However, top online advertisers know that they need to do more than define a broad audience. Instead, they define brand personas to target.
A persona is a profile of a specific consumer you want to target. That means filling in more details than the general profile. You don’t just want to target human resources managers. You want to target young human resources managers who embrace new technology and are at the helm of a large corporate department. You could even fill in the details about personal interests. The more specific you are, the more targeted your ads can be – and the more effective they will be.
Focus on Niche Markets
Traditional online advertising focuses on display ads on websites within your industry. However, top online advertisers know that in order to get results, you have to focus on markets that are more niche than that. Niche markets help you connect with exactly the type of customers you are trying to target.
Niche markets can include mobile marketing, in-app marketing or software marketing. With each, you can focus on a very specific type of consumer, helping you to create more targeted advertising that gets more results. The more niche your market is, the less competition you will face, helping your ads stand out and helping them get results.
Pay per click advertising looks like simple and archaic technology compared to the new advertising technology that is available. Top online advertisers understand that using this technology can help you reach new customers in innovative ways.
Some top advertising technology includes smart installers, browser extensions, search feeds, and pay per install programs. When advertising with these tools, you reach customers in new niches, you provide additional value to their browsing experience and you present offers in a more natural way. You will face less competition, and will have a clearer picture of the customers you are targeting. All together, you will create a stronger advertising program that reaches the customers you want and helps you get results.
You can focus on one tool to grow your advertising presence or you can create a multi-faceted approach and maximize your exposure.
Pay for Results
Results-based advertising includes pay per install programs and affiliate marketing. With pay per install programs, you pay a fee to publishers whenever someone completes an installation of your app of software. With affiliate marketing, you pay a commission whenever someone buys your products or services. In either scenario, you only pay when you get what you want: A sale. You make your advertising budget count, and get the results you need to grow your business.
Top online advertisers understand that the Internet is constantly changing and they have to change to keep up with it. They create advertising strategies that are highly targeted but that also focus on niche markets and new technology. In doing so, they are better able to reach the customers they want and make every advertising dollar count. They focus on programs that only demand payment when results have been delivered. All of these choices create a strong campaign that starts delivering results as quickly as possible. If your business isn’t already using these strategies, it’s time to start implementing them.
When you sell apps or software, simply marketing your products is not enough to meet your business goals. While marketing can certainly help you get the exposure you need, it may not help you convert your target audience. You have to create a marketing strategy that is designed to get results, and you have to use the right tools to drive conversions.
Getting more conversions for your apps or software does not have to be difficult, but it does require making the right choices and being persistent. Here are a few tips for how to increase the download conversion rate for your apps or software:
Target the Right Audience
Marketing is essential to getting the word out about your app or software, but if you want to ensure that the marketing is effective, you have to target the right audience. That means creating materials that show how your app or software can benefit a very specific type of person. To help you create these materials, try creating a persona or personas for the audience you are trying to reach. For example, you might decide that your software is best for professionals who are between the ages of 30 and 35, and who are starting their first business in the field of finance. The more specific you are in creating your personas, the more targeted your marketing campaigns can be.
The more targeted your campaigns are, the more likely they are to reach the people who want and need your software, and who will be inclined to download it.
Use a Smart Installer
One thing that can have a big impact on your download conversion rate is how long the app or software takes to download and install. The longer it takes, the more likely your customers are to abandon it. You may have had those people on the hook, but now you’ve lost them and won’t get them back.
One way to increase the speed of the installation process is to use a smart installer. A smart installer helps guide people through the installation process and makes it faster and easier. At the same time, a smart installer can show special offers at various stages of the installation. These offers can be for your products or for your advertisers’ products. Not only can a smart installer increase your download conversion rate, but it can also help you monetize your app or software and create an additional revenue stream. Do your research to find the right smart installer for your product.
Create a Special Offer
Creating an incentive can help to increase your downloads conversion rate. Perhaps you can offer your customers another product for free with their download, or maybe you can offer the app or software for free or a very reduced price for a limited time. You can also partner with another company to bundle your software with theirs, creating a special price for both packages.
By offering the special product or discount, you give customers a reason to buy immediately instead of thinking it over and possibly not returning later to buy. The more motivated customers feel to buy now, the higher your conversions will be. Think creatively to provide a variety of offers to appeal to the largest possible audience and increase your conversion rate.
These days, everyone uses apps and software to make their lives easier. Creating an app or software that creates solutions or makes tasks easier can help you to ensure the success of your business. Creating the right marketing plan can help you drive conversions and not just increase exposure for your brand. Using a smart installer and creating a special offer can help you get the results you need quickly, but defining the target audience for your marketing and deciding on the right price for your product can also bolster your success. Use a multi-faceted strategy to get the best results.