- Posted by Navin Chandwani
- Virtual Exhibitions and Events
- 5 Comment
According to a Bizzabo report, 80% of event marketers believe that attendee engagement and satisfaction are critical KPIs that indicate a virtual event’s success. But then there is more to measuring the success of your virtual event. Here’s a short guide on how to measure your virtual event’s success.
Plan It Right
Since virtual events are completely online, you have to take KPIs into account when planning virtual events for your brand. Your virtual event strategy must include a thorough plan for measuring various KPIs and metrics.
Know Which KPIs to Track
The next step is to determine which KPIs would be helpful for your brand. If your virtual event’s goal is to educate your attendees, then measuring conversions isn’t your priority. Here are some of the KPIs that you should consider tracking.
Event registration metrics are a quick and easy way to gauge your virtual event’s performance. If the registrations are high, your marketing worked, and if they are low, you need to redefine your target audience and marketing plan for virtual events.
Tracking attendee engagement is a crucial metric you should track since they indicate if your attendees enjoyed the virtual event. You can track this metric via polls, quizzes, Q&A sessions, live chats, games, and much more. Remember to plan virtual events with engagement opportunities so you can entertain your attendees and gauge their satisfaction.
Surprisingly, the simplest way to measure your event’s success is to ask the attendees using a post-event survey. Send out a form after the event is over with ‘likely to unlikely’ questions to your attendees; the results will help you identify weak points and plan virtual events that are more successful in the future.
Measure Revenue vs. Overhead Cost
You should also plan to measure the revenue vs. the overhead cost of the virtual event, which would usually include metrics such as:
- Anticipated cost vs. actual cost
- Anticipated revenue vs. actual revenue
- Actual cost vs. actual revenue
This metric will help you determine whether your virtual event was a financial success or not. A successful virtual event does not necessarily have to have higher revenue over costs, but if the ratio is too high, there might be a problem with how you plan virtual events for your brand.
Social Media Activity
You should never forget to measure social media activity during your virtual event. All social media platforms offer you the option of tracking the analytics, which let you keep track of engagement metrics (likes, comments, and shares), and awareness metrics (watch time, views, viewers, etc.).
Choose the Right Virtual Events Partner
Measuring the success of live events is straightforward—if the venue is too crowded, it is a success. Measuring the same for virtual events can be complicated, but it can be made simple by working with the right virtual event services provider, like Blues N Coppers. We can help you plan virtual events, from strategising, marketing, developing, executing, and measuring.