We have two, small but mighty metrics in The Wicket Scorecard that drive a lot of conversation, because they take numbers and connect them to something that many in the video industry think about, but don’t always define or know how to act on.
The metrics are “Percent Active Fans” and “Percent Active Bingers”…
How to Define a Fan
The first question we get, is of course, “How in the world can you define a fan?” We talked with several customers and other and other industry insiders and arrived at this definition: Fans are viewers that have viewed 3 or more episodes of a series, with a view having occurred within the last 30 days.
By reaching 80%, there is a very high probability that the user will
- Watch all of the season’s episodes and
- Watch additional seasons if/when they are available
Over time, with enough data and a feedback loop which leverages machine learning, we’ll tweak this definition as warranted, but it is a very reasonable place to start.
Gaining a fan means that you have a user who should keep engaging as long as there are additional seasons of the series she is engaged with to watch. Perhaps more importantly, fans have engaged in behavior where they have begun using your service habitually – and finding value each time they visit. This represents a real opportunity to connect these users to additional content and broaden their sense of satisfaction with your service, resulting in a bigger slice of their attention.
What about Bingers?
This concept is especially important for users who are exhibiting bingeing behavior. With input from those same smart folks that helped us with “fans”, we define this is a user who has watched three or more episodes of the same series in a 24 hour period. The obvious risk of bingers that are only engaged with one series (especially when there are a limited number of seasons) is that they will move on to another service (and may not convert from a free trial at all) if there is not a broader collection of content to watch. So, it’s important to engage users early in their relationship with your service to get out ahead of the scenario where they binge and churn. The goal is to turn them into healthy fans who are watching multiple series to completion, which leads to happier customers with higher lifetime value.
One way to approach this is to begin with a focus on how new trialists are engaging when they begin using your service. Our “Trial Drivers” Wicket is a great place to start:
As you can see, this Wicket (using demo data) provides some interesting insights. It illustrates the content which is most successful at driving new trials and then goes on to show the percentage of users that binge, become fans, and convert to paying subscribers. With real data, our customers can look for scenarios where a particular series drive bingeing behavior that does not result in a high conversion rate. They can use this information, to promote content – a new season, a new series or perhaps a movie – that has strong audience clustering with the content that they binged in order to get that cohort more deeply engaged with the service.
This same methodology can, of course, be used for at-risk subscribers, who may only binge certain shows, and are running out of seasons to watch. The Wicket Scorecard is designed to identify these scenarios and provide guidance on actions to take to increase the number of fans in any video service and fans help drive lifetime value higher in your service.
If you’d like to learn more, please contact us, and we’d be happy to learn more about your challenges and opportunities.
Tags: audience lifetime value • bingers • content engagement • trials