Eventdrive

KPIs to Measure the Success of a Virtual Event

30 June 2020 | Temps de lecture : 9 min.
image-blog-kpis-format-reduit


That's it, the big day has arrived! You've created your virtual event for the first time with Eventdrive Live, it was a success and you want more objective data to really see how you did. Yes, organizing a virtual event is great and all, but having numbers is even better!

And for that, what better than specific Key Performance Indicators (KPIs) and relevant statistics to measure the success of your online event at a glance?

Climb onboard and let's take a closer look at which KPIs you should use. 😉


1) Set SMART goals for your virtual events

First things first! You need to set "SMART" goals. Indeed, an online event without goals is like driving a boat without a heading; you'll move forward, but not necessarily in the right direction. Like every year, the stakes are high and your CEO is counting on you to ensure your corporate event is a hit. It's time to innovate and get everyone onboard with your company's business strategy. 

This is perhaps the main power of events: they create contact and interactions with high added value. They allow you to initiate true conversations, which is a real challenge in today's marketing. However, hosting a physical event is out of the question. But you don't just create an event to create an event. You have to know WHY you are going to create a virtual event. How do I set my goals? This is the first question to ask yourself so that your event is consistent with the rest of your strategy. Creating an event is great. Creating a meaningful online event is better. So, whatever your objectives may be, remember that they must be SMART:


2) Virtual event registration performance

Registration is fundamental and, to effectively measure the performance and attractiveness of your event, essential. It is important to choose the right KPIs to measure from the start. With the right KPIs, you'll be able to quickly identify if your event communication was effective. To do this, we recommend you use these indicators:


You can then use the following ratios to measure your registration performance in detail.


→ Open Rate: emails sent vs. emails opened

For corporate events, you'll want to have an open rate that is higher than 20%. If your open rate is below, this can be due to several reasons:

open-rate

→ CTR: clicks vs. emails opened

A great click through rate is above 2%. This corresponds to the number of clicks on links inside your email compared to the number of emails opened. If it is weak, the mail design should be reviewed as well as its structure. For example, are CTAs ("Call to actions" or buttons) placed in the right places? Are the words used relevant and engaging? Are you sharing the right information?To help you create the perfect emailing, discover our templates for your internal seminars.


→ The number of registrants / number of clicks ratio

If this is low, it may be that the content of your online event did not match the profile of your guest or that it was not relevant. That's why, you need to build a terrific agenda with quality guests!


rgistration-rate-1619193424


→ The number of registrants / number of participants ratio

If this is low, the marketing automation scenario needs to be reworked. On average, there will be between 40% and 50% of people registered, who will be present on the day of the event. But take advantage of the virtual event by offering your event in replay! Be sure that this method will allow more people to access your event, even if it will not be live. 😉Don't forget to schedule your reminders 1 week and 1 day before the D-day! Don't forget to send the confirmation email to new registrants, thanks to your Eventdrive automation platform.In addition, as this is an online event

virtual-event-participation-rate


3) The notoriety of your event online on social networks

Here is the type of data that may be interesting to note:

Do not hesitate to list your results in a table, in order to have an overview of the information collected. 🙂 For this, you can use Airtable which is very easy to use.

Also take into account both positive and negative remarks in order to continuously improve the performance of your online events.

And what could be better than using a tracking tool directly, in order to follow what is being said on the web and on social networks? We love Mention!


4) The engagement rate of your participants during your online event

As with a physical event, it is important to measure the engagement rate of your participants during your online events. And this is all the more important since the framework of these is very different from the events we are used to. The experience is seen to be different, but the substance remains the same despite everything. 🙂

You will generally have more registrants but a higher no-show rate.

The goal of the various interactivities that you are going to set up is above all to maintain the attention of your participants and to engage them with your company. This is why we recommend the use of an event application in parallel, in order to offer interactivities to your participants. For example, by offering Q&A, quizzes, voting, word clouds, discussion spaces ...

Number of connections

In the context of online events, the number of connections will be determined. If the number of connections is low, this may be due to various factors:

Number of services used

Chat with the number of messages sent in total and per person, how many people took part in the quiz, polls, word clouds, votes ...


5) Indicators to monitor the satisfaction of your guests

One of the factors of the success of your online event will come straight from the satisfaction of your attendees. And THE main indicator that reveals the success of your event: the NPS!

But what is the NPS? The Net Promoter Score allows you to find out who are able to recommend you.

The question to ask is: "On a scale of 1 to 10, how would you recommend this event to those around you?"

Now use the following formula to calculate your Net Promoter Score:

% promoters -% detractors

How to get this data?

Collecting data is all well and good, but have you thought about how you will be able to recover this information? No ? So here are some ideas ... 🙂

Via an event app

Have you ever used an event app? Do you even know what an event app is? If so, hats off! 

Thanks to your 100% creative event application, engage with the many interactivities it offers. Among them, the satisfaction questionnaire. Prepare your satisfaction questionnaire in advance and invite your participants to answer it in due time.

Via a survey sent after your online event

Forget paper and pen: remotely, you have to know how to be adaptable! Send them an email a few minutes after the end of your online event to thank your participants, and attach a tracked link that leads to an online form that you have created.

The interesting point in this method is that your participants will be questioned on the spot, so they will have had time to take a step back and be more relevant in their answers.

Do you want to carry out a perfect satisfaction survey? Find our full article for your satisfaction survey right here !


6) Indicators to calculate the return on investment of your event

After having defined the objectives of your online event, you are able to determine whether your virtual event has benefited from a positive return on investment or not (new customers? Increase in visibility? loyalty of existing customers?).

ROI is therefore a basic, one of the main key success factors of your event. To calculate it, nothing could be simpler. Just follow the following formula:

Total revenue generated or to which the event contributed / total expenses


event-roi


There you have it, you now have all the crucial statistics to measure the success of your virtual events!

If you want to learn more about online events, download our latest comprehensive guide: "How to Create a Virtual Event". You want to know how to create your event online now thanks to Eventdrive Live, ask for your personalized demo !

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