How to Master Social Streaming Metrics
Learn more about social streaming at the next Live Streaming Summit.
Watch the complete panel discussion from Live Streaming Summit, LS202. The Game of Social Strategy, in the Streaming Media Conference Video Portal.
Read the complete transcript of this clip:
Casey Charvet: I think it's important to understand how you define success, on a given undertaking. So no matter if you're an advertiser or you're a brand, or doing a special event, and you want to engage the audience of a social streamer, what are you actually looking to accomplish with that? And how do you judge success?
When you look at platforms like YouTube, Twitch, Facebook, you have these reports that have just tons of numbers on them, and they all say certain things, and there is some meaning to extract from that, but I think that having a clear objective really lends itself to doing that.
If you're doing a large-scale Facebook event, and you get a report at the end of it that says you had this many likes, and you had this many shares, and so on and so forth. One of the big tricks to that is looking at the numbers and saying, "Okay, well, do 10-second views mean something to me? Do likes and shares mean something to me?" and kind of working forward from that.
There's actually a lot of data science that I think is going to begin to evolve around this. Because I've seen reports where it's like, "Oh yeah, we had this many million 10-second views." Well, I don't know if that necessarily means anything. What did the chat look like? What did the shares look like, what did the likes, and actions around it, and I think that there's actually a lot more, in those, even though those are typically smaller numbers, Looking at a ratio of those numbers to total views can be more meaningful than just going for the bulk, big impressive number.m Communicating that to the stakeholders is also important.
Aaron Nagler: What's interesting, too, is that can drive you creatively, and whoever you're dealing with on the streaming side, as talent. If you've got, let's say, an hour-long stream, with the numbers and the analytics, you can point to where people were most engaged. You can say, "Okay, here's where it really lit up, here's where people really kind of fell asleep." That way, going forward, if you work with that person again, or if you work with someone else, find another relationship, etc., you can point to it and say, "This was really successful for us in the past, maybe we need to shy away from what we did here, maybe we need to make different choices."
But can become paralysis-by-analysis when you're just looking at the bulk stuff. To me, it's always about going back and saying, "Okay, that was really engaging, and people were really on board with this, as opposed to all this other stuff we were doing, so maybe we need to rethink that."
Casey Charvet: And once you lose a viewer, they're probably not coming back. If you bore them after the first 10 minutes, it's not like they're going to go do something else, and come back 10 minutes later. If you lose them, you lose them. So the trick is to kind of keep things compelling, and keep them hooked, as well. And all that makes itself apparent in the data as well.
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