Irrespective of your goal in hosting the virtual event, measuring our success is an essential part of it. The step of measuring success is a part of the conclusion or wrapping up the event.
There are multiple KPIs for measuring the success of virtual events. And employing the right one can make the process very effortless. In this post, we talk about KPIs for measuring virtual event success.
Actual attendance vs. registration.
The number of attendees on the day of the event is one of the critical ways to measure the success of your event. This is typically measured against the number of registrations submitted.
The satisfaction of the attendees.
The satisfaction of the attendees is another important KPI. Post-event surveys are the most common ways of collecting this data. Through this, you can identify loopholes and improve your performance.
This KPI is also vital in retaining attendees and keeping them motivated to return to your future virtual events.
Community members and the interaction between them.
The number of active members in the community and the number of messages exchanged between them is also vital to gauge the success of your event. This is a relatively new KPI, but it allows event planners to measure the effectiveness of the app or the specific networking tool.
Social media and engagement.
Social media and its pervasive nature is also a fantastic way to measure the success of virtual events. Such activities as attendees retweeting your post, liking the post, sharing it, and mentioning the events via hashtags are excellent ways you can measure the event’s success.
Social media metrics are also very accurate, which translates as a great KPI. However, you need to provide enough quality content to elicit engagement on social media platforms.
ROI and its ratio to the overall cost.
Not all virtual events have a return on investment as one of the goals. Despite this, a monetary return is always a good key performance indicator. The rate of conversion during and after the event is a good indicator of the overall success of your event.
Assessing the overall cost to gross ROI is a great way to measure whether you are profiting or losing from the event. Some have also argued that this is the primary KPI in all events. This is true to a certain extent, as this is the only component that your investors and sponsors would be interested in.
