5 Benchmarks that Measure the Success of a Virtual Event

With seemingly no end in sight to the pandemic, virtual events unsurprisingly continue to be on the rise. Whether the host is a corporate event or meeting planner, it’s important to reflect on how well any virtual event goes. What went well? What didn’t go so well? What needs changing for next time to make the event even better?

Here are five benchmarks that measure the success of a virtual event so that necessary changes can be made for future online events.

1. How many people attended

Perhaps the most obvious measure of success is the number of people who showed up to the online event. Depending on the purpose of the virtual event and the industry or niche, what qualifies as a “good” number of attendees will vary. It’s important to look at the expected number of guests for an online event for each specific industry when looking for a benchmark.

2. How long people attended for

Attendee duration measures the average time that each user spent in the virtual event. People may enter the event but drop out after just a few minutes if they’re bored, in which case, the attendance rate would be high, but the drop-off rate is also high. This indicates an unsuccessful virtual event as people may not have been engaged or interested in the event.

3. How engaged were the attendees

Virtual events are a two-way process. Success can be measured by looking at the engagement of the attendees. This could be how many people responded to the questions asked or were engaging in the content by asking their own questions or contributing to the conversation.

4. The number of sales generated

Often, the goal of virtual events is to increase the customer base of the business. Online events can draw in new customers, generate leads, increase conversions, and, in turn, increase revenue. It’s important to look at the benchmark for each specific industry when it comes to expected leads and sales from a virtual event as this will vary for each niche.

5. The feedback given after the event

The final benchmark that measures the success of a virtual event is the feedback given once the event has ended. Whether this is written feedback through answering a series of questions or giving a rating or verbal feedback taken at the end of the session, feedback is essential to gain perspective on how well the event went. Once feedback has been obtained, it can be used to improve the delivery or the content for future events.

Hosting online events may be a new concept for many business owners and event planners, but there is no doubt that this is the future. Virtual events provide so many opportunities to expand and grow a business. It’s important to measure how successful each event has been to get the best possible outcome from it.

To learn more about our events or to schedule one, contact us today!