Have you ever used YouTube's "Insights: Statistics and Data" feature?
It's a remarkable tool for effective market research in real time.
Let me walk you through how I use it to:
- test new product ideas
- learn what customers like right now
- deduce where events should be held
- learn exactly which portion of a video clip grabs audience attention
- see which topics get customers engaged and why
- learn the exact demographic profile for each product
The first thing to do is create a separate video for each product or idea you are interested in selling. If you're selling an information product - like a video or an audio, simply use a short excerpt. Keep it under five minutes. Three minutes is optimal. Upload your clips, make them visible to the public, and watch the fun begin.
In a few days or when you get to over a thousand views, it's time to check your YouTube Insights.
Here's what YouTube gives you:
This summary of your results:
(1) Tells you how many views your videos are getting. This will tell you if you're getting any attention at all.
(2) Shows you which video is getting the most attention. Now you know what your prospects like - and the margin between what's getting attention and what's not.
(3) Expose your real demographics. Not too fancy, but you get to see the age range your product resonates with. Every now and then I'm surprised.
(4) Identifies the regions where you are getting traction. Again, results do vary by geographic location, so you can decide if you want to spend some money to gain exposure in a particular country or state, for that matter, or if you want to focus on your natural geography - the places in which you're getting organic attention.
Now let's go further:
(1) View your traffic over time - days, months, a year.
(2) Sort video popularity by region - again, a handy guide to what the reaction is to your message... country by country.
(3) Details on which videos are winners and which are not. Based on this you can decide which product merits backing, and which ones need more work.
(1), (2) and (3) Which videos are getting the most traffic and from where...
(1), (2) and (3) Which countries (or states) are most receptive to your work!
(1) gives you the age breakdown for your products. Is it senior women or adolescent boys?
(1), (2) and (3) tell you which products get the most response from your prospects - positive or negative. Let's you know early on if you need to go back to the drawing board. A quick measure of engagement.
Probably the most powerful piece of information, this tells you the level of attention - the peaks and valleys - for your work. Use it to optimize your messaging. Now you too can be a Frank Luntz (just don't go over to the dark side).
All of this information costs nothing. And from my experience, the quality of results can't be matched easily, not even by expensive focus groups!