So you want to host a virtual event? Great! These events can be a great way to attract new prospects, educate existing customers, or to even train team members. Once you have determined the ultimate goal of your event, along with what content you can provide, it is time to start defining what success looks like by identifying the proper virtual event metrics that would determine success.
Regardless of your event’s exact purpose, there are some common metrics that will determine success. Now you just need a way to measure those specific virtual event metrics. Having goals that you can’t measure is silly, and so is spending hours on unnecessary reports, so really try to hone in on what is most important. We will also cover a few specific ideas for metrics based on certain types of events.
Ready to get started?
1. Pre-Event Metrics
- Registered attendees
- The #1 metric to predict event success is number of registrations. Everything else is just meant to help identify ways to drive more people to register. According to Heinz Marketing, only 27% of respondents report they are effective at generating registrations and attendees for a virtual event, so this can be a lot harder than you think.
- Landing page views
- Are you driving leads to your event landing page? If not, you may need to look at the performance of your ads or organic posts. If so, what percentage of visitors are converting? You may want to A/B test your design or messaging to see if you can increase conversions.
- Email open/clicks
- What percentage of people are opening and clicking your emails regarding the event? If you have a good open rate, are they then clicking? If not, A/B test your CTA’s inside the email to see if you can drive more traffic to your landing page.
- Chat activity on landing pages
- Are people interacting with your chat on the website? Asking questions or inquiring about the event can be a natural process for attendees, so make it easy for them to ask a quick question to ensure your virtual event is worth their time. Drift is a great chat tool and has some great information on how to maximize this effort.
2. Live-Event Metrics
- Real-time attendance
- Take a look at your actual attendance vs. the amount of people who registered. This is a very healthy gauge of how valuable your registrants think your event is going to be.
- Session attendance
- Which sessions are being attended the most? Did one speaker or topic drive engagement? Take note and highlight some of these in your follow-up marketing/sales plan.
- Chat interaction
- Were people asking questions or answering polls? Did your sales team have any success booking demos while chatting with live participants?
- Social engagement
- Are attendees retweeting, liking, sharing, or commenting on your posts? Social media has very accurate data which can be great when trying to calculate the ROI of a virtual event.
3. Post-Event Metrics
- Pipeline influenced
- At the end of the day, whether the event is for training employees or converting prospects, the ultimate goal is to influence your pipeline. Some of the KPI’s can include Closed Won business or Expansion of Existing business. If you are training employees, you can keep an eye on close rates for sales people, or overall churn rate for customer success.
- Number of leads generated
- How many demos were booked? How many new emails did you get from registrants? Information is gold for marketing teams, as they can use this info to serve customized messages for that prospect on different platforms. Markletic has a great blog that defines some ideas on how to calculate Cost per MQL.
- On-demand views
- Sometimes people have a genuine reason why they can’t attend your virtual event. Whether they couldn’t make it, or just want to watch it again, it is important to make your event available to watch on-demand. You can track these metrics to gauge the long-term potential of your content.
While this may be a bit harder to track, virtual events can also give you tons of great content in the form of video, blogs, social posts, e-books, and more.
Raise the bar by keeping track of these virtual event metrics
Nothing can beat the type of action that can spur from an event. With the right strategy, you can get an incredible ROI and reap the benefits for years to come from the content created. If you need any help with your next event, we would love to help! You can learn more about virtual event metrics on this blog!
You can also learn more about our virtual event services here.