Whether you’re hosting a virtual event because of the coronavirus or to save money, virtual events provide meeting and event planners with many unique benefits, like easy data collection. Although the particular metrics produced by virtual events can vary depending on what virtual platform and event management software planners use, it tends to be easier to gather certain data on your event and attendees during your virtual event than an in-person event. Why? Because everything is done online, so it can be easily tracked. You can know the exact number of people attending, when your attendees logged on, from where, their dwelling time, how they are paying, and so much more.
In this guide, we will walk you the must-have analytics and reporting features of a virtual event platform and the top data metrics and KPI’s to gather at your next virtual event.
Must-Have Analytics & Reporting Features
When choosing your virtual events platform, analytic and reporting features are a must, as these features will help you prove your virtual event ROI and learn how you can make improvements for your next event.
To help you evaluate virtual event platforms, we’ve curated a list of questions to ask yourself about your current platform or a platform you are considering:
- Does the virtual event platform provide you with insights into all aspects of your event?
- Does it let you capture a multi-dimensional view of your attendees, their interests, their touch points, and their interactivity?
- Does your virtual event platform provide you a real-time metrics dashboard, so you can track your event’s ROI before and during the big day?
- Does the virtual event platform provide you with the insights that are important to you, your company, your investors, and your sponsors?
The data from these questions will provide you with valuable insights into your event, your attendees, and will increase the success of your future events and campaigns.
20 Data Metrics & KPIs to Gather at Virtual Events
Like any event, proving virtual event success lies in capturing the correct data metrics. But what metrics and KPIs are the most important to capture for virtual events? We’ve outlined the top one’s planners should gather at their virtual events.
1. Number of Registrations
The total number of people who have registered for your virtual event. This number is commonly used as the most immediate way to determine your event’s success.
2. Number Session Registration
The total number of people who registered for a particular session at your virtual event. From this information, you can determine which speakers you should invite back next year or which topics to include at your next virtual event.
3. Demographic Attendee Information
Because attendees will be attending your virtual event from around the world this particular metric is key in understanding your audience. Attendee demographic information like gender, age, and location, can be used to better target your future advertising campaigns and identify similar demographics where your event or products may also be successful.
4. Email Open Rate
An email open rate is the percentage of email recipients who open the email you sent them. For conferences and professional events, the average open rate is only 23 percent, and for general events, the average open rate is 26 percent. An easy way to improve your email open rate is to make the subject lines more personal (e.g. include their name in the subject line).
5. Email Click-through Rate
Your click-through email rate (also known as the CTR) is the percentage of email recipients who click a link (e.g. a registration link to your virtual event) in your email. The average event click through email rate is only 4.95 percent. A good way to improve your CTR is to use your demographic attendee information to create more targeted email lists and content.
6. Speaker Engagement via Mobile App
To see how engaging attendees found your event speaker, you can look at the number of profile views the speaker received within your mobile event app. Because how effective a presenter is at hosting this virtual event session can make or break an attendee’s experience and engagement levels, make sure your speakers are prepped and prepared with virtual presenting best practices.
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7. Speaker & Session Engagement Via Live Polling
Because speakers or planners cannot see how engaging attendees are finding a particular session based on their body language, whispers, and facial reactions during a virtual event, a mobile event app with live polling is a must. You can look at the response rate for in-event, live polling to determine how engaged attendees were during specific sessions and to see who the most engaging speaker was.This is also an easy way to collect valuable feedback on what content is resonating the most with your audience.
8. Session Feedback & Ratings via Mobile Event App
If you use a mobile event app for your virtual event, you can easily collect attendee session feedback and ratings during and after the session. This can be a measure of attendee satisfaction, attendee session engagement, content resonation, speaker performance, and more.
9. Social Media Engagement
This number is the total reactions your social media audience had to your posts related to your event (e.g. likes, shares, retweets, etc.). Generally, this number is used to understand how your virtual event content is resonating with your audience.
10. Social Media Mentions
The number of social media mentions is defined as the direct social media mentions (hashtag or handle name) your virtual event received. This number will allow you to determine how social media-friendly your virtual event was in addition to how engaged attendees were.
This data metric is the total number of people that exchanged contact information at networking events. This metric helps show how engaged attendees were at your virtual event.Because virtual events tend to be faster-paced since attendees don’t have to move from session to session or booth to booth, it can be easier to make connections with other attendees and speakers than an in-person event. And since everything is online, attendees can easily record important information, like people’s names, titles, etc., right on their tablet or computer. So, this number may be higher for your virtual events than your in-person events.
12. Attendee Satisfaction Surveys
An attendee satisfaction survey is a planners’ opportunity to ask their guests specific questions about their virtual event. To ensure that you can utilize this data to understand and improve future online events, be sure to ask specific questions that can be answered by selecting a numeric option.
13. Mobile App Insights
If you’re using a mobile event app for your virtual event, it is filled with event success metrics. For instance, you can learn the number of attendees who downloaded the app, the number of attendees who used the app to scheduled appointments with speakers or sponsors, message collogues, and so much more.
14. Sponsorship Page Engagement
To prove to your sponsorships that attendees engaged with their brands virtually and to solidify a partnership with them in the future, the sponsorship page engagement metric is essential. This metric shows the number or level of engagement (e.g. views, likes, actions) attendees had with sponsorship pages.
15. Net Promoter Score
This metric is very important for first-time virtual events. The net promoter score, also known as NPS, reflects attendees’ answers to the question “On a scale of 1-10, how likely is it that you would recommend this event to friends?” The score is reflected in the percentage of promoters (people who scored your virtual event 9-10) and the percentage of detractors (people who scored your virtual event 0-6).
16. Qualified Sales Leads
The number of qualified sales leads generally reflects the number of prospective customers your virtual event generated. This metric is important since one of the jobs of any event (whether online or in-person) is to generate leads.
17. Gross Revenue
This metric reflects the total amount of sales made at your virtual event, before any deductions. Gross revenue is perhaps one of the most important KPI’s when measuring virtual event success since it shows your event’s potential and ability to satisfy attendees.
18. Efficiency Ratio
Also known as the Cost to Revenue Ratio, the Efficiency Ratio is a metric that compares expenses generated by a virtual event with the company’s revenue. This metric is important in understanding how profitable your virtual event truly generated.
19. Customers Acquired
This metric reflects the number of people who became customers as a result of attending your virtual event.
20. Via Score
Via score is a single metric that combines all the metrics to evaluate the overall performance of a virtual event.
Like in-person events, virtual events need to collect data metrics and KPI’s in order to monitor their success and learn how to improve. However, it’s important to remember that an event, virtual or not, cannot be truly successful if it’s not properly aligned with your company’s overarching goals.