Rome wasn’t built in a day, and neither are effective virtual events. Developing them takes a lot of time, effort, coordination, and resources — so organizers want to do everything they can to make sure they’re a hit.
While virtual event success means different things to different people, it doesn’t have to be hard to measure. Simply figure out which key performance indicators (KPIs) best align with your online event objectives and track them accordingly. To help you do that, let’s dive into some of the top virtual event success metrics you should take into consideration.
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Get crystal clear on your biggest virtual event objective before you decide how you’re going to measure success. Depending on your highest-priority goals, the KPIs you track will vary, for example:
While participant engagement can be hard to measure, these key performance indicators (KPIs) can tell you a lot about how people interacted with your virtual event:
You can also use Livestorm’s free video engagement calculator.
Establishing your top objectives perfectly positions you to decide which metrics will uncover whether your virtual event was a hit or not. Some of the best options are email campaign metrics, registration numbers, social media engagement, attendance figures, participation time, polls, chat messages, Q&As, NPS, conversion rate, and on-demand event replay.
The list below will break down those metrics in more detail so you can determine which aligns best with your circumstances, so let’s dive in.
Most organizers use email marketing for virtual event promotion — in fact, as many as 76% of marketers say that email is the most effective way to drive online event registration.
But did you know that email campaign metrics like open rate and click-through rate (CTR) also provide great insights for virtual event success?
For instance, if you send out an email about an online event and it has higher or lower open rates than usual, that’s a good indication of how interested your audience is in what you’re organizing.
Livestorm also has several email marketing-specific integrations like Hubspot, Mailchimp, and ActiveCampaign, so you can sync your attendees with your subscriber lists, track engagement, and boost lead attribution within our platform.
Tracking how many people register for your virtual event is a useful success metric for a few reasons:
Social media event marketing is an effective tactic for getting the word out about your online event, but have you considered monitoring your channels before and after it takes place to gauge success? Social media activity is a great indication of how excited participants are about your event or how useful and share-worthy they found it.
Here’s what you should keep an eye on in your social media channels:
Some organizers use specific social media tools like SproutSocial and Hootsuite to analyze social media engagement surrounding their event. If you’re a Twitter fan, Livestorm also has a Twitter integration you can use to promote events directly to your audience.
Tracking event registration numbers is important, but you also need to calculate how many participants actually end up attending your event. Raw attendance numbers not only let you analyze gaps between registration and participation — they’re one of the best ways of determining your most successful virtual events over time.
Monitoring returning webinar attendees vs. new attendees is also useful to understand who your content is resonating with the most. People who consistently tune into your virtual events are likely loyal to and excited about your brand and what you’ve got to say. It’s worthwhile to reach out to returning attendees for feedback to make sure you’re effectively serving them and their networks, so they’ll be well-positioned to spread the word about your events in the future.
Having lots of attendees doesn’t mean a thing if a large portion of them drop off after the first few minutes of your event. Tracking how much time people spend participating in your event can tell you:
Webinar polls are short surveys that organizers can send out to participants while their event is taking place. With platforms like Livestorm, they can either be put together live or pre-made and scheduled in advance.
While polls serve a practical purpose by checking for understanding or collecting feedback, they’re also fun virtual event ideas that can ask relevant, light-hearted questions or act as ice breakers.
If your objective is an engaging online meeting, polls are a fantastic tool. Integrating them in your webinar prompts interaction and analyzing response quality and numbers can help you understand how invested your audience was in your event.
When people are interested in an event they’re participating in, they’ve usually got something to say. That’s why keeping track of video engagement metrics like in-app chat messages is important — you’ll get insight into how they’re interacting with what you’ve got to say and whether they’re enjoying the experience or not.
While in-event chat messages can be hard to quantify, here are some ideas of how you can measure them:
Q&A periods are a common feature of virtual events, but they can do a lot more than just address participant questions — analyzing them lets you gauge engagement and can help determine how much your webinar resonated with your audience. Here’s why:
Q&A periods are also a great opportunity for virtual event guests speakers to ask questions and get a read on what stood out most to participants and how they benefited from the overall experience.
NPS typically measures customer loyalty and satisfaction, but it’s also a highly effective metric for understanding how well your virtual event resonated with participants.
To calculate webinar NPS, subtract your percentage of detractors from your percentage of promoters.
The easiest way to calculate NPS is by sending a post-event survey to participants and asking them:
“On a scale of 1-10, how likely are you to recommend our company’s virtual events to your network?”
Here’s what NPS responses mean:
If you’re striving to increase brand awareness, generate leads and drive future sales with your virtual event, be sure to track your conversion rate. That is, what percentage of your participants go from attendees to sales qualified leads (SQLs) over the course of your virtual event.
It’s also a good idea to compare conversion rates across multiple virtual events — that way, you can zero in on where your marketing message was most effective and replicate it in the future.
When you’re measuring how successful your virtual event was, consider how many people watched a replay of your webinar.
Simply tracking attendees often isn’t representative of your online’s event audience because as much as 25% of people watch recordings after the fact due to different time zones, scheduling conflicts, or simple forgetfulness. That’s why it’s vital to choose a video conferencing platform like Livestorm that lets you track how many people caught your virtual event’s replay.
Sending out an email with a link to your webinar’s replay is also a great way to nurture your relationship with people who registered for your online event but didn’t end up attending.
Livestorm helps teams collaborate and deliver memorable live or on-demand video experiences.
When searching for the right virtual event success dashboard, look for one that goes beyond tracking simple metrics like registrations and attendance. Livestorm’s dashboard gives organizers an overview of all their webinar’s insights, including everything from attendee details to engagement data.
Webinar dashboards are also supposed to make organizers’ lives easier — so the best video conferencing software will give you direct, easy access to all the information you need in one central place. Then, you can quickly analyze event success and consider key analytics to make strong, data-driven decisions for future events.
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All in all, success means different things for different virtual events. The best way to measure just how fruitful yours was is by figuring out the top goals you want to work towards early on. Then, track metrics that reveal key insights about your personal definition of virtual event success.
It also goes without saying that the best online events have highly engaged audiences before, during, and after they take place. That’s why it’s so important to choose one of the best video engagement platforms like Livestorm that can do it all — help organize a frictionless, high-quality virtual event and keep your audience engaged from beginning to end.
A virtual event key performance indicator (KPI) is a metric that tells you how successful your virtual event was. There are many possible virtual event KPIs, including number of registrations, registration page visits, attendance figures, and participation time.
Virtual event return-on-investment (ROI) is how much money you make from a virtual event compared to how much you spent on it. While most event organizers calculate monetary virtual event ROIs, another approach is calculating value or benefit gained.
To calculate virtual event return-on-investment (ROI), divide your overall profit by your overall expenses and multiply the result by 100. For example, if you spent $2000 on a virtual event but made a profit of $5000, your ROI would be 250%.
To measure the success of your virtual event, identify your biggest objective. Imagine the most important goal of your virtual event was engaging your audience as much as possible. In this case, you’d investigate key performance indicators like participation time, in-event messaging, Q&A numbers, and poll responses.
There are many different metrics that can tell you how successful your virtual event was. Here are 11 of our top examples: