Are you tracking the right data? And, if you are, are you putting that data to good use?
Digitalsmiths recently released a white paper called “Key Performance Indicators Video Service Providers Must Track to Drive Views and Engagement” that explains how to turn a mass of data into useful insights that drive smart business decisions. As part of that, it explains the seven essential KPIs for video service providers.
“Digitalsmiths believes all video service providers should be tracking a standard set of KPIs. Once a solution is in place to track these seven KPIs, more robust metrics can be created,” the white paper says.
The following is adapted from Digitalsmiths’ white paper.
The 7 Essential KPIs:
- Traffic Volume: “While traffic volume is one of the more commonly measured KPIs, video service providers may find this metric challenging due to the number of product offerings, devices, and operating systems that need to be supported.”
- Health and Performance: “Video service providers should monitor the stability of their product offering and its content discovery functionality, as any downtime or network delays can affect viewer satisfaction and revenue.”
- Overall Usage of Each Content Discover Feature: These include search, recommendations, carousels, and “more like this” lists.
- Viewers’ Behavioral Data and Trends: These include views, recordings (are users setting their DVRs?), and revenue metrics.
- Audience Segmentation and Identification: “Video service providers need the ability to identify clusters, or segments of viewers, for similar viewing interests and overlaps in viewing behavior.”
- UI/UX Engagement: “Video service providers must confront the challenge of providing several UI/UXs to support all accessible devices.”
- Discovery Sessions: This is Digitalsmiths’ own metric looking at how viewers browse for content and discover something they want to watch. it’s a measure of how quickly viewers find programs that interest them.
For much more on these seven metrics, as well as how to use the information to drive business decisions, download the Digitalsmiths white paper for free (registration required).