Your guessing game might be too strong, but there are certain cases where it won’t work. One such case is measuring the effectiveness of your strategies, and analyzing the success of your webinar. When it comes to measuring the success of your webinar, there are certain tools and techniques which you should consider.
If you are also looking for some ways you can use to quantify the success of your webinars, worry no more. In this blog, we will take you through the best and easiest ways to measure the success of your webinar. There are certain metrics that one should consider to find the real picture of the webinars. In this blog, we will talk about those metrics only. We are sure by the end of this blog, you will have a better understanding and ideas you should use for measuring the success of your webinar. So, without any ado, let’s jump right into the blog.
The first and the most basic metric you can rely completely on is the number of registrations in your webinar. With a higher number of registrations, you can conclude that your marketing strategies hit the target and have been successful. Also, while you are planning the webinar, make sure you set one particular target; it will be the number of registrations you want to have for your webinar.
Having more registrations than the targeted number would indicate the success of your strategy. However, if the actual number falls short of the target, it will be an indication that you missed out on something and your strategies didn’t work.
2. Number of Attendees:
While the higher number of registrations is the most basic indicator of the success of your strategy, there’s still a long way to go. After targeting registrations, target the number of attendees you wish to have at your webinar. There are times when many registrants don’t show up for the final event. Hence, keeping a check on how many registrants made it to the webinar is necessary. If your landing pages have gotten a high number of views, but there are not enough registrations, and attendees, it means that there’s something wrong with the landing page, and it needs fixing,
The next metric you can consider is the channel of your registrants’ origin. Since you might have promoted your webinar on several platforms, keeping a check on the channel that directed most of the registrations for your webinar. It will give you an idea of which channel you should focus on the next time. For example, if you have used email marketing, social media, blogs, and advertisements for promotions. And you are getting most leads from social media; it means that you need to focus more on other channels as well.
Moving onto the next factor, you can also count on the expenses you have made for the webinar as one of the metrics. Hosting a webinar online comes easy on the organizers’ pockets, as there are no expenses of traveling, catering, logistics, etc. The only major investments included are the online webinar platform, speakers’ and marketing costs. Having an idea of the total expenses of the events will help you analyze the ROI of the webinar.
5. View Duration:
While the registration rates as well as the attendee conversion rates matter, another important factor you should not overlook is the average view duration by the attendees. Your strategies will only be said to have worked when those showing up for the webinar attend the webinar till the end. If your webinar is seeing a significant difference between those who joined the webinar in the beginning and made it to the end, it is not a good sign. It means that your webinars are missing something, and you need to have engaging content.
Not only this, if you see a sudden increase in the dropout rate, it means your attendees were not clear with the objective of the webinar. Hence, you need to work on that.
If in case it happens in the middle of the session, it means your attendees were not enjoying the webinar.
The best and most sought-after metrics you can rely on to analyze the effectiveness of your strategies is getting the attendee feedback. You always host an event for the audience; only knowing how the audience liked it will show you the real picture. To get attendee feedback, send feedback forms to them as soon as the webinar ends. In the feedback form, ask them questions related to the webinar and their experience attending the webinar. Also, one thing you shouldn’t forget while creating the feedback form is to include relevant questions. Add questions related to every element of your webinar strategy.
7. Revenue Generated:
Last but not least, we have one metric chosen by the most number of webinar organizers, and that is the total revenue generated during the webinar. If you want to measure the success of your webinar in terms of money spent and money earned, calculating ROI is a must. And for calculating the revenue generated during your webinar, you need to consider a few factors. Those factors are customer engagement rate, leads, sales and revenue, and more.
Analyzing the effectiveness of your strategies and measuring the success of your webinar becomes easy with the live analytics tool. There are several webinar platforms that come with this feature. However, Mixhubb’s analytics tool provides you with the data in the most elaborated and descriptive way. With that, it becomes easier for organizers to measure all the aspects of the webinar, easily and conveniently.