Hey what's up Self Mades? I'm Grant Thompson, Kris Krohn. We had a question
come through asking what is a good retention rate to shoot for? And we're
going to explore that right now. Hi my name is Erin and I had a quick question and
about my success on YouTube. How do I know what a good retention rate is and
to know that I'm doing well? Kris, what is a retention rate? When we talk about
videos, what's retention rate? You know what people are watching your videos the
question is, at what point do they drop off? How long are they really staying on?
How long are they really watching? That's right. If you go into the analytics, you
can actually see the data on each video and you can see the general trend of how
people are watching, if they go back and re-watch part of the video, you actually
see a spike in the data, but if they start leaving the video, you're going to see
them start dropping off and sometimes, you'll see a mass exodus. Where it just
drops off a cliff. Now, this is a really good data because you can go into the
data and find out what happened during that video, to make so many people le
But something that's really important for you to understand is that
retention depends on industry. Because right now, you've got health and beauty,
you've got another person doing health and fitness. Like for example, if you're
watching a health and fitness video and you're trying to figure out what your
water, your workout of the day was, you might have to watch the entire thing for
15 minutes straight and you're going to have awesome retention if you've got a
loyal group of people that are watching it because they need to get everything
that was out of it, but industries are going to change. For example Grant, you're
in the how-to industry right? That's right. In a how-to video, you're not going to
start a how-to and not watch to the end. I mean you're going to have to see all the
different steps. You might have to go back and re-watch those steps a few
times or maybe even three or four or five different times. So what that does
to the retention is, that bumps it up because you're spending longer in the
video. However if there's you know, if it's a vlog or a one-time viral
experience or it's just not that engaging content, it kind of drags on and you
skip forward, you'll see dips in the retention rate. So we're talking about
retention rate. We're seeing the overall watch time on the video.
How much time are people spending? If you have a 10 minute video and you've
got an average retention rate of 65%, you've got about six and a half
minutes of watch time retention time on that video. So I guess the question
really is, if you're looking at the data, how do you know if you're doing well or
if you're not? What kind of target numbers should we be looking for
percentage-wise? It's a really good question. I know on our channel we have
right around 45% retention but we're
in the education and communication space, and what we try to do in every video is
completely share everything someone would want to know for their question
and then offer some bonus at the end and for us, we usually keep people on for
about 45 percentage of the time. You know my channel, where we do
experiments and how to's and DIYs, we're seeing 50 to 65 percent retention rate.
Now you got to keep in mind, this is everybody watching your video. So if
you're finding 45 % of the people are watching most of your video, that's
actually pretty good. If you see 65 % of people were watching your
video, that's even better but obviously you're going to get pretty
good results. I think you know when I was working with an MCN, they were telling me
back in the day, anything over 50 % is actually pretty good. I've had brands
reach out to me before wanting to know specifically what the retention rate was,
and I was embarrassed at the time to say, "oh it's only 65 or 70 % and they
were just out of their heads because that is really really good retention
rate. So obviously, you can tweak your videos to keep people engaged longer
that's going to help a lot. But anything about 50% or more, you're on the right
track. Hey gang, thank you so much for watching today. Hopefully, this gives you
the information you were looking for on what good retention is. We'll see you
guys in the next video or down in the course below.
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