The use of the internet and digital media has changed the way that most companies and markets work these days. In recent years, the dominance of and need for the web in so many sectors has been a leading trend. Be it the business itself or just the marketing of it, if it is not online then it is missing out!
Live video streaming on the internet is one such unique phenomenon that is on the rise, helping institutions, businesses and people grow along with it. Although we know that videos are far more appealing to the viewers than images or text, it has also been observed that live videos can be even more impactful if successfully executed. Studies show that companies that utilize live videos get up to 41% more traffic on their websites as compared to those who do not.
While all this is true, the question of the effectiveness of a live stream crops up. Just how does one measure the success of live video streaming solutions? The answer to this is the use of video analytics.
Using Video Analytics To Measure The Success Of Live Webcasting Solutions
To understand and efficiently utilize video analytics to know about the level of success of live videos, one must first have a defined goal for the live video streaming.
Here are a few common goals of using live video webcasting services:
- Spreading information and brand awareness
- Increasing audience engagement and participation
- Expand your audience base
- Collect data and generate useful leads
- Sell your products and services
Whatever your broader or more specific goal may be, the collection and analysis of data will help you make better decisions in the future. This may include the optimization of content, monetization of videos and other alterations in your live streaming practices to make them the most positive impact causing for you and your audience.
How To Successful Online Video Streaming?
Listed below are some ways to measure how successful online video streaming really is:
1. Get live video analytics
In the instance that you are live webcasting, having real-time analytics data can be a game-changer that can rapidly and drastically change the outcomes of your stream. Having access to information like the rate at which new viewers are tuning in, the total amount of bandwidth used, monitoring multiple streams at a time, notifications for reaching thresholds and actively saving statistics can be infinitely useful.
2. Measure the number of visitors and hits
Knowing how many people are watching your stream and the trends in data give you the knowledge about what type of content is more popular with the audience. The information gathered can also show you whether the number of viewers is growing, decreasing or remaining stagnant in regards to the different types of content you stream.
3. Know the geographic hot-spots
Some of you may not know but the analytics tools for live video streaming solutions use your IP address to provide you with the needed data. An IP address can locate you in a geographical map and that placement can be used in multiple ways:
- Giving you the location for target advertising
- Determining the language to be used in the region where the consumer of video content is.
- Finding the location where actual on-ground events will be more successful
- Discovering topics of relevance to a region for both advertising and video content.
- Placing security geo-restrictions.
4. Have the record of viewing time
The manner in which people consume content and how they engage with live videos is a very good way to know if your stream is successful or not. Therefore, the viewing time of each individual is important data to have. Longer duration of watching indicates interest whereas shorter duration hints at disinterest and loss of relevance of the video content.
5. Keep track of revenue
Videos on the internet, especially live video streaming solutions, have become a great way to earn money. Monetization of live videos allows content creators to earn money through advertising, transactions and even subscriptions. In such cases, tracking revenue data like total sales, sales in a certain area or sales per videos can be used to determine the success of online video streaming.
How To Access Strong Analytics Tools?
Once you know the importance of video analytics tools and how to use them in your favour, the next step is to find the ones suitable for your needs. Most of the time, the live video webcasting services you hire do provide this feature as well. Hence, it is important to consider many factors and choose the correct live video streaming solutions very carefully.
If your chosen live webcasting services do not have such features, then the option to choose external tools like Google Analytics is also viable. With the help of this, you can optimize any future broadcasts as per the inferred data.
Whether it is business endeavors or other fields of work that require live video streaming, be sure to choose the best live webcasting solutions after thorough research and deliberations. Easily achieve all your goals for online video streaming with the help of the right guidance and analytics tools!