With the emergence of COVID-19 in the year 2020, the ratio of virtual events just got tripled. With time it became a clear fact, virtual events are here to stay and not just a pandemic-driven rage.
The benefits of virtual events are clear, they allow you to reach a wider audience at a fraction of the cost of in-person events, and offer better audience data and insights.
Before setting your KPIs, you need to have a clear grasp of the purpose of your event, whether that is to increase brand awareness, capture qualified leads, or increase traffic to the company’s website.
There are many different KPIs one can set to measure the success of virtual events according to their objectives.
Here are 7 KPI’s to measure the success of your virtual events:
- Event Registrations
The number of registration is always a good metric to start your analysis for any event, but it’s also important to compare that against the total number of check-ins. If there is a significant gap between the two, you should invest some time investigating why people drop off in between registration and attendance.
- How long attendees stayed online
Another key measure of success is audience retention – you’ll want your attendees to be logged on longer and spending more time at your event. There’s no industry benchmark for what constitutes a “good” retention rate, so use your past events as a benchmark.
- Live polling response rate
Response rates for live polls and surveys are also another valuable metric for measuring attendee engagement – and hence virtual event success.
- Email campaigns
Email campaigns are a wonderful way to communicate with your audience and participants pre, during, and post-event. Almost all paid email marketing platforms allow you to measure the performance metric of emails like click rates, open rates & unsubscribed.
- Social Media Mentions and Engagement
Social media mentions and engagement for your event’s hashtag or page is a vital stat that helps in demonstrating the success of your event and it is a really good idea to keep track of the mentions and the engagement you receive on social media platforms.
- Customers Acquired
It is another important KPI to measure the event’s success along with the number of qualified leads and pipeline.
- Revenue generated
Calculating the revenue generated from your ticket sales, sponsorships, funds collected and, others can help you assess the event ROI in financial terms.
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