Effective Video Campaign: Getting what you measure

How do we find a way to judge an effectiveness of our video production and communication efforts? And are we using an appropriate system of measure?

Imagine for a moment if one were to measure productivity and effectiveness based on the ability to stay within budget and to get the lowest cost per minute ratio of completed video. That will be exactly what one will get and thats what a bidding system is setup to do.

What if effectiveness is measured in terms of viewer responses, number of views, number of referrals, number of repeat views, or even a combination of such factors?

That is exactly what an online analytics can do. Instead of playing a video to a captive audience, one lets viewers vote with their clicks and their time.

Would viewer responses and retention and participation be more of an appropriate measure of effectiveness?