The beat matches the clips, but a music video has to have much more than that. The process of making a video include:
Choosing a song - it can't just be any song. It has to have a central theme and has to be able to be applied to the video content you wish to overlay it with.
Choosing clips - Let's face it. Almost all songs deal with emotions, therefore there usually has to be a centralized character in the clips you choose. If there isn't, you get a video that takes a bunch of random clips and puts them together to make the music match, which is what you did. That's not usually enough.
Purpose - You have to have a clear purpose when making a music video. What do you want to accomplish? Do you want to entertain the viewer? Tell a story? Prove a point? Your music video seems to only have the purpose of entertaining the viewer, which is fine, but having another purpose would greatly help your work.
Timing - this is something you've already mastered. The clips must match the beats of the music and transitions must not overpower the video clips.
Transitions & Effects - these things are very cool and very useful, however it is very evident when you use a clip or effect that has no centralized purpose. You didn't do too bad with this, but there was 1 or 2 video effects that seemed to serve no purpose. You've gotta axe the habit of using those.
If you want a good example of a music video that has a centralized theme and purpose, has great timing, and avoids unnecessary transitions effects, take a look at this one I made a while ago:
http://silverlineproductions.webs.com/eragon.htm*I'm not trying to criticize. I can tell that a lot of work was put into your video. I'm just trying to give you some tips for your next one.