How to Measure the Performance of Digital Events
Many marketers struggle to measure the performance of online events, probably because they only rely on readily-available metrics like the number of registrations.
However, that is not an accurate measure of an event’s performance as there are many other aspects that you should consider. For one, you should consider the return on investment (ROI) that you got for your event. You should also look at engagement metrics to find out if your event was able to engage your audience or not.
Which metrics should you track to measure the performance of your online events effectively?
Here are some of the most important metrics that you should track.
Number of Registrations
This is the most easily available number as you can track it from your registration form entries. This shows the effectiveness of your event landing page and CTA in getting more people to register for your event.
Number of Attendees
This is the number of registered people who actually attended the event. This can be the same or less than the number of registrations. This metric is more relevant for live events where registrations were free. For paid events, most people would only register if they intend to attend.
Registrant to Attendee Conversion Rate
The number of attendees by itself is not of much use, but the ratio of registrants to attendees is important. It tells you how many of your registrations were relevant and how effective you were in targeting the right people for your event.
Average Viewing Time
This is an engagement metric that measures the effectiveness of your event content in engaging your audience. The longer attendees stay and attend your event, the more useful and relevant it is for your target audience.
Engagement
You can also measure engagement by looking at comments, questions, resource downloads, etc. The more people who engage with your event, the more actively they will participate in it.
ROI
This is one of the most difficult metrics to track, as this requires you to assign a cost value to the time that you spent on your online event. However, it is also the most important in determining the success or failure of your event.
Conclusion
Online events work differently than other types of content and require you to track different metrics. The ones mentioned above are some of the key metrics to track if you want to measure the performance of your online events.
Want to learn more about online events and related metrics?
FLOW created a beautiful infographic to make it easier for you to understand them. Check out the below infographic to learn more about these metrics in detail.
