Building blocks of video commerce analytics

Video commerce analytics communicate the business impact of video to decision-makers.  As indicated in earlier posts, the cross-functional nature of online video in an e-commerce organization implies that stakeholders may be scattered throughout the business. Therefore, a successful video commerce analytics initiative needs to take into consideration the metrics likely to be of value both to departmental-level stakeholders that own responsibility for a specific business function (site merchandising, online advertising, customer experience, etc) as well as decision-makers that oversee the entire e-commerce program.  A successful video commerce analytics initiative also needs to present information to decision-makers in terms that are meaningful to the business.  The business world is already too cluttered with reports – no one needs additional meaningless “video reports” to sift through.

First, let’s take a look at a highly simplified version of a video commerce conversion process:

Video Commerce Conversion Process:

  • Find the video
  • Watch the video
  • Engage with the video
  • Convert

Leaders of successful video commerce programs understand and exploit the integrated nature of the

FIND >> WATCH >> ENGAGE >> CONVERT

process to maximize the value of video commerce efforts.

I believe a successful video commerce analytics framework must consider [at least] the following elements as foundational building blocks:

  • The video commerce conversion process
  • Video commerce analytics users
  • Intent of each video
  • Channel in which each video is published

Video Commerce Analytics Users:

Not all video commerce analytics users necessarily seek out the same information.  Stakeholders value metrics that most closely impact their particular business function.

  • Executives
  • Search Experts
  • Affiliate Marketing Experts
  • Emerging Channel Experts
  • Online Advertising Experts
  • Site Merchandising Experts
  • Usability/Experience Experts
  • Video/Creative Production Experts
  • Product Management Experts
  • Web Analytics & Business Intelligence Professionals

Intent of a Video:

Not all videos have the same intent.  When assessing a video’s performance, I believe one needs to apply appropriate intent-based success metrics.  For example, a service video may not be successful in acquiring new customers, but it could still be considered successful if it reduces servicing costs.  Likewise, an acquisition-focused video may do well at driving traffic while failing to convert shoppers into buyers.

Acquire New Customers:

  • Emotional/Viral
  • Product Demo
  • Special Offer
  • Branding
  • Customer Testimonial
  • Features & Benefits
  • Product Demo
  • Third Party Endorsement

Convert Shoppers:

  • Features & Benefits
  • How-To/Product Demo
  • Customer Testimonial
  • Entertainment/Lifestyle

Grow Customers:

  • Entertainment/Lifestyle
  • Other

Service Customers:

  • How-To/Product Demo
  • How-To/Training

Video-Ready Channels:

Leaders of e-commerce organizations regularly assign responsibility within the organization by channel.  Video commerce analytics need to include information of video performance within each channel and across channels.

  • Search (e.g. Google, Yahoo, Video Search Engines)
  • Affiliate Sites
  • Retail Video Site (e.g. Self-Produced, YouTube Channel)
  • In-Video (e.g. Product Placement or Ad)
  • Social Network/Blog (e.g. Facebook, MySpace, Twitter)
  • Email (e.g. In Email, Campaign Landing Page)
  • Ad Network (e.g. AdBrite, BrightRoll, ValueClick)
  • Video Services (e.g. YouTube, iTunes, Viddler)
  • On-Site: Product Page
  • On-Site: Brand Page
  • On-Site: Category Page
  • On-Site: Search Results Page
  • On-Site: Retail Blog Page
  • On-Site: Home Page
  • On-Site: Other

The suggested metrics for overall and per-stakeholder analytics will be the subject of the next post.  Originally, I planned on including them in this post, but in the interest of sparing you from reading through five pages of information in a single post, I’ll save it for next time.  I hope everyone had a great weekend.

Happy Selling!

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