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What are the best methods for evaluating the success of a virtual event?

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Virtual events have become a popular and effective way to connect with audiences, deliver content, and generate leads. But how do you know if your virtual event was a success? How do you measure the impact and value of your online experience? In this article, we will explore some of the best methods for evaluating the success of a virtual event, based on the latest video technology and best practices.

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1 Define your goals and metrics

Before you launch your virtual event, you need to define your goals and the metrics that will help you track them. What are you trying to achieve with your event? Is it to increase awareness, engagement, conversions, retention, or loyalty? Depending on your objectives, you will need different types of data and feedback to measure your performance. For example, if your goal is to increase awareness, you might want to look at the number of registrations, views, and impressions. If your goal is to increase engagement, you might want to look at the duration, participation, and interaction. If your goal is to increase conversions, you might want to look at the leads, sales, and revenue.

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Katya Victoria

CEO de Wuilds Digital | Marca Personal C-Level & Social Selling | Programa Líderes con Huella Digital | Programa Corporativo Embajadores de Marca | Programa Multiverso de las Ventas B2B | Speaker.
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Lo primero para mi es definir el objetivo del evento y según ello selecciono las métricas. Son las métricas las que te podrán decir que estuvo bien y que se puede mejorar

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2 Use video analytics tools

One of the advantages of virtual events is that they generate a lot of data that can be analyzed and used to evaluate your success. Video analytics tools can help you collect and visualize various metrics related to your video content, such as views, watch time, completion rate, drop-off rate, play rate, and engagement rate. These tools can also help you segment your audience by demographics, location, device, and behavior, and provide insights into their preferences, interests, and pain points. Video analytics tools can help you understand how your video content performs, how it resonates with your audience, and how it influences their actions.

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3 Collect feedback from your audience

Another important method for evaluating the success of a virtual event is to collect feedback from your audience. Feedback can help you assess the satisfaction, perception, and value of your event, as well as identify the strengths, weaknesses, and areas for improvement. Feedback can be collected in various ways, such as surveys, polls, quizzes, ratings, reviews, testimonials, and social media comments. Feedback can help you measure the quality, relevance, and impact of your content, speakers, and format, as well as the usability, functionality, and accessibility of your platform.

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Krystina from Getaway

Building an EaaS platform | 1 million free health events by 2048 #freehealthcare
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Not just feedback — but any kind of data on engagement is key to designating a virtual event as successful. If your virtual event platform doesn’t offer what is now considered standard engagement features (chats, polls, pulling audience members on stage, etc), alongside the analytics dashboard to evaluate different KPIs — it may be time to re-think your go-to platform. Personally, I love Hubilo.

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4 Compare your results with your benchmarks

Once you have collected and analyzed your data and feedback, you need to compare your results with your benchmarks. Benchmarks are the standards or targets that you set for your event, based on your goals, expectations, and industry averages. Benchmarks can help you evaluate your performance, progress, and return on investment. Benchmarks can also help you identify the gaps, opportunities, and challenges that you face, and provide guidance for future improvements. Benchmarks can be internal or external, depending on whether you compare your results with your previous events or with your competitors or peers.

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5 Test and optimize your strategy

Finally, one of the best methods for evaluating the success of a virtual event is to test and optimize your strategy. Testing and optimization are the processes of experimenting with different elements of your event, such as the content, design, format, timing, promotion, and platform, and measuring their impact on your metrics and feedback. Testing and optimization can help you find out what works and what doesn't, and make data-driven decisions to enhance your results. Testing and optimization can be done before, during, or after your event, using methods such as A/B testing, multivariate testing, or heatmaps.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are the best methods for evaluating the success of a virtual event?

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1 Define your goals and metrics

2 Use video analytics tools

3 Collect feedback from your audience

4 Compare your results with your benchmarks

5 Test and optimize your strategy

6 Here’s what else to consider

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