In-person events have been responsible for driving traffic and filling pipelines for years. While it seems that virtual events may not have the same impact, that would be false. Not only are virtual events more cost-effective than physical events, but they can generate more long-term revenue if done correctly. Not convinced yet? Here are a few more reasons why you should consider virtual events regardless of whether we can all meet together.
It’s Time To Invest In Virtual Events
Better (Trackable) ROI
Any event is expensive, but virtual events take less resources overall to get better results. With a strong strategy in place, you can coordinate, plan, and execute a virtual event for much less, while making much more. According to a Harvard Business Review Study, only 23% of respondents said that they can accurately track the ROI of events. It’s time to up the odds by investing into your virtual events platform.
Content for your funnel
By recording and transcribing a virtual event, you should walk away with lots of content that you can chop up to use for blogs, social posts, emails, etc… You can also have the event on-demand and use the highlights to lure more prospects into signing up to watch it!
More Actionable Insights
The long term benefits of a physical event can be hard to track. With virtual events, you can use attribution software, or other analytics tools, to get very clear insights on every person who viewed your event. From how much of the event they watched, to their engagement on social posts, you can track every bit of a user’s interaction with your event!
Empower your sales team
Think it is harder to connect over a virtual event? There may be a few barriers there, but companies like Deskrig or Mmhmm are working to increase first impressions for sales teams everywhere. By using chat tools to start conversations with buyers, your sales team can interact with prospects during their highest moments of intent. Virtual events allow you to touch more prospects in a shorter time in a more effective, personalized way.
Anyone can come
Anyone can attend a virtual event! Requiring less resources from an attendee to join increases the odds of them joining online. Now you can reach more of your target audience and develop a strategy to convert them into customers by teaching them something useful.
Increase Customer Experience
With physical events, it can be tough to cater to every attendee. While the same can be said for virtual events, you definitely have more opportunities to customize your messaging and sales experience to each person. By combining your CRM and a chat tool, your sales team can customize their reach out based on the messaging that brought that customer in, or on things like which speaker they showed up to watch. There are so many opportunities to tailor your efforts to create engaging conversations that will drive conversions.
How do I track the ROI from my virtual event?
Like any event, you must first consider what you want to accomplish. Some events can be to expand current customers, while others are meant to reach new prospects. Once you have identified your goals, you can then develop some KPI’s that will dictate success. You will want to keep an eye on metrics that serve as a health score to your event before, during, and after.
For example, before an event starts you may want to keep an eye on how many people are registering, or how many people open your email invites. During an event you may be more focused on real-time attendance, social engagement, or chat opportunities. Finally, after an event, you need to structure data in a way that allows you to measure how your pipeline is influenced. Do you have more MQL’s? Did you close a key prospect your team had identified through ABM?
It is important to make sure you have created goals that are realistic, and that you invest in the necessary software and team members necessary to properly execute your plan. If you need help with identifying the KPI’s that will truly dictate success, you should check out this blog!