Learning licks is very important, they function as musical words, helping to learn new styles (languages) and showing you new and interesting approaches to things you already know. Two very important points to help you make the most of them...

Use the licks
Use a backing track, a looper pedal or a jam buddy - just make sure you use them. Try and mix them in with licks you already know so they blend in a bit, you need to work on linking them, it's often getting into and out of a new lick that is the most difficult, so work on it!

Find the essence
Once you can play and use the lick comfortably then it's time to try and extract the essence of it and then try and use it to create new material. I think this is the most fun part. Try and find the thing in the lick that can be extracted and put into something else - look beyond the notes, though they are usually easiest to extract and re-apply. Think about exploring the dynamics, the phrasing, the techniques, the way a position was shifted, that kind of thing... and try and make up your own cool stuff using the essence.

More than a lick
These videos are not a little 10 second clip of just the lick like you find some other places. I show it to you in quite a bit of detail and then most times I explain where it comes from, how to manipulate it and any concepts behind them, many times it's much like a lesson than just a lick demo!