What’s a YouTube view really worth?
“What is a real, successful YouTube view?” asks Richard Spalding, CEO of The 7th Chamber, on MediaPost’s Online Video Insider this week.
“This is a question we are asked by clients all the time,” he says, “unfortunately – like most other online measurement questions – there isn’t one standard answer that has been largely adopted by the industry.
“Since YouTube doesn’t reveal its algorithm, it’s important for brands to have some solid way to help measure whether or not their videos are working for them effectively. To help brands do this, we’ve compiled our own research to help them better understand what a makes a social video view considered a success, which includes looking beyond paying for completed views because – as we will lay out in this article – ‘all views are not created equal.'”
All Views Are Not Created Equal – Engagement vs. Views
“Engagement is the pinnacle of a video campaign, the catalyst that initiates a user to get closer to purchase or drives brand uplift. This is why many people in the industry value actual ‘engagement’ over a simple ‘view’ when it comes to measuring success. But whether you’re in the engagement camp or not, there’s no argument that it’s a solid indicator of efficacy.
“The fact is that video advertising is a premium product. CPMs are very high (compared to static banners or pre-roll video) ranging from $20-$800 ($20 being Trueview, more like run of network; $800 being native advertising). In order to justify this cost the question must be asked: ‘Shouldn’t the client be expecting some sort of post action?’ We think so.
“We use a formula that measures ‘Engagement Per Thousand Views,’ or EPM. The formula comes from broad user engagement by measuring the following: YouTube likes/dislikes, comments; Tweets; Pins; Facebook shares/likes/comments; tumblr posts; stumble; Reddit; etc. We then calculate how many engagements these videos get per 1,000 views – hence the term ‘Engagement Per Thousand Views.'”