Evaluation of the effectiveness of an online event
Collecting and analyzing data before, during and after an online event will greatly facilitate your work on evaluating its effectiveness. It will help you develop and improve online projects competently, based on facts and figures. We'll tell you how it works.
Data collection before online event
Data collection before the start of the event is necessary both for the formation of a potential client base, and for the analysis of visitors and landing. We recommend that you always use the registration form to apply for participation in the online event, which visitors must fill out before the start of the event. Using these forms will help:
- track the number of participants;
- analyze their demographic or age parameters;
- define the location of the participants;
- define the number of male/female participants;
- if necessary, collect data about the profession or any preferences of the audience;
- get a ready database of potential customers, where their contact details and email addresses will be collected.
What is the best registration form to use? We recommend that you stop at the option where you need to fill in five to seven points, no more. Choose the most important questions for you on the registration form, the answers to which will help you achieve your desired goal, whether it is obtaining a database of email addresses or understanding which industry professionals came to your online conference. If the registration form is too long, your potential participant may not want to go to the end and click on the "Participate" button, so we use only the most relevant questions, do not overload the registration form.
You will also need to use the following metrics to analyze the effectiveness of your online event advertising or online event start page:
- The number and average cost of clicks on ads (CTR, CPC). Understanding how many people responded to your call to follow the link, open the registration form, and so on.
- Conversion on page to registration (CR1). How many people out of those who responded to advertising, landing, went to the moment of registration.
- Switching from registration to browsing (CR2). How many people who started filling out the registration form completed it to the end and went to the main page of the online event.
Data collection during an online event
During an online event, you can track the activity of visitors, register which declared online performances received the maximum number of visitors, track the activity of participants. We've highlighted some useful statistics:
- The duration of attendees' presence at the event.
- Number of questions asked.
- Number of messages to send.
- Quantity of responses to questions.
- The number of people who watched the video until the end.
- The number of releases. It is necessary to have data on the number of people who left the event before its completion. The lower the number, the more successful the online event was.
- Presence control. It is possible to add some kind of pop-up window or button during the broadcast, which you need to click and confirm your presence. Such a window can pop up regularly every half an hour or at any other specified time interval. Presence control is relevant in order to identify “weak points” in an online event, topics, events that require revision and improvement.
- Users interacting with chat and activities.
- Number of requests during broadcast.
- Number of applications after broadcast, in one-two-three days.
Analysis of data after the online event
- ROI (Return on Investment). Payback or literally return on investment. Marketers consider this indicator one of the main indicators for understanding the profitability of an online event. This key indicator is calculated according to the formula "(Income - Expense) divided by Expense". The resulting percentage will reflect the profitability of the online event.
- CPL (Cost per Lead). Shows how much money was invested in obtaining one potential customer. If you compare the data of this parameter, for example, with profit indicators, it will be possible to conclude how wisely investments are made and how well marketing methods are chosen to attract potential customers and get their contacts.
- CAC (Customer Acquisition Cost). In fact, this indicator provides information about the cost of attracting one client. We divide the total amount of costs for an online event by the total number of customers who came to us as a result of the online event, and we get the amount of investment in one real customer. This metric will be indispensable for you if you set yourself the task of reducing costs, scaling your business, or improving your marketing campaign.
- NPS (Net Promoter Score) is the loyalty index of participants in an online event. It evaluates how positive the attitude towards your online event has developed among its participants, and how much they are ready to recommend your online event to their friends and colleagues in the future.
It is also important to use:
- Number of hits since the online event. How many people from the total number of participants became interested in your additional offers, provided feedback - all this is necessary to evaluate the event.
- The study of visitor ratings will also provide valuable information. At the end of the online event, you can offer to fill out a short questionnaire, which will include questions about the level of the online event. Questions of closed and open type, as well as a field for recommendations and wishes for the future - choose the form of the questionnaire that suits your plans and capabilities to analyze.
Why do we need to analyze the statistical data of an online event?
In online event platforms such as OnlineExpo, features have been added to collect statistical data. Data interpretation is valuable information that helps measure the effectiveness of event preparation and delivery. You can always use the OnlineExpo platform to collect visitor activity statistics, monitor and analyze event statistics, and collect visitor ratings. Ready-made solutions for servicing online events are integrated into the platform, so using such solutions to collect and evaluate statistical data will be a real help for you.
Rules for working with statistical data
- Collect metrics on a continuous basis. The regularity of data collection and analysis will help you track the dynamics of improvement / deterioration of various indicators that are important for you to understand the effectiveness of an online event.
- Always look at the results in terms of increasing profits and thus increase the efficiency of the event.
- Use metrics to transform and improve your online event platform itself.
- If necessary, contact the experts and develop your own metrics, tracking techniques and programs that will perform these tasks.
Increase the involvement of your in an online event, increase the number of potential customers , use different metrics. Get creative by analyzing data. And on the Onlineexpo platform you can organize of any complexity!
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