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Through the course of the current pandemic, businesses worldwide have grown to rely on video as the primary way employees communicate with one another. And although video communication is an excellent way to increase employee engagement over time, simply sending out one video after another might not be the best strategy. To increase the reach and impact of your videos, you need to know how effective they are. You must be able to make improvements when necessary to continually boost employee engagement. That is to say, exactly why having access to detailed, reliable user analytics is so important.
Through the course of the current pandemic, businesses worldwide have grown to rely on video as the primary way employees communicate with one another. And although video communication is an excellent way to increase employee engagement over time, simply sending out one video after another might not be the best strategy. To increase the reach and impact of your videos, you need to know how effective they are. You must be able to make improvements when necessary to continually boost employee engagement. That is to say, exactly why having access to detailed, reliable user analytics is so important.
The importance of employee engagement
First of all, you might wonder why employee engagement is so sought after. Does having an engaged workforce affect your business that much?
The answer is a resounding “yes.” In fact, the more engaged your employees are, the happier they are with their job, the more productive they will be—and the more money your business will make.
This is because engaged employees are more enthusiastic and emotionally invested in their job. And as a result, they’re more motivated to contribute to the success of the business.
Note the following benefits of employee engagement:
- Companies with highly engaged employees tend to be about 21% more profitable than average
- Companies with highly engaged employees report 17% higher productivity rates among their workforce
- 71% of executives say employee engagement is partly responsible for their success
- Employee engagement can reduce employee absenteeism by about 41%
- Low employee engagement can lead to higher turnover, and companies lose an estimate of $5,000 for every employee who resigns, which can add up to significant losses over time
The numbers above indicate that there is very clear, tangible profit from improving employee engagement. Doing so can help turn your cost center into a profit center. But how can this be accomplished? One place to start is gaining deeper insight into video usage analytics across the enterprise.
What detailed Video Analytics can tell you about employee engagement
Video is the single most effective method for boosting engagement, second only to in-person communication. About 90% of the information the brain processes is visual. And not only that: the brain can process visual information about 60,000 times faster than text.
This explains why viewers can remember 95% of the message when they watch it on video, compared to just 10% when they read it in text. This data further reinforces the fact that video is the most engaging method of communication. In other words, all businesses must benefit from its power to connect with employees.
When using video, it is crucial to keep track of what works well and what doesn’t. The simplest way to do so is through accessing and understanding video analytics. To determine just how effective your videos are, you must understand the metrics and usage data. And these insights are harnessed by powerful video analytics tools.
To draw an analogy with email and text messages, senders normally have access to data on whether the message was delivered or seen, and the time this happened. But the insight stops there. Senders have no way of knowing how long it took the recipient to read the message, or where on the page they stopped reading.
Powerful video analytics tools, on the other hand, harness important data, which may include the following:
- How many people watched the video
- Average viewing time
- What days of the week receive the most viewership
- Where the average viewer stopped watching the video
- Which videos are watched the most
- Quality of video experience, including bitrate and buffering
- Insight on the correlation between poor quality and viewers dropping off before video ends
- What steps to take to improve video quality
What the data tells you
Armed with this information, you get a better understanding of which parts of a given video were the most engaging, what the quality was like, and what steps to take to improve reach and messaging.
It is especially critical to pay attention to video analytics if you use video to relay important company updates to employees. And why is that? Well, analytics will provide data on the percentage of employees who watched the video the whole way through.
Likewise, if you use video for training purposes, instructors and leadership need to know how new hires engage with the video content. If most are consistently quitting halfway through the video, this would indicate a pressing need to improve content quality to increase engagement.
How video analytics tools can help you understand and track video adoption & engagement
Hive Streaming enables you to track video analytics very closely. Hive Analytics lets you pinpoint information about your viewers, including how many watched and when they stopped watching. This tool even helps you identify and address network trouble spots.
Considering that adding even 1 minute to your buffering ratio can drop average viewing time by 3 minutes, it is important to ensure a high-quality video experience through a network that can seamlessly handle streaming.
Similarly, if your average bitrate is under 800 kbps, your videos will have a shorter viewing time and lower engagement. So, video quality is a key metric to track in order to improve employee engagement through video.
If you would like to learn more about how video analytics can help your business, contact Hive Streaming today.