3 Metrics to Help You Gauge the Success of Your Webinars
One of the principal functions for a marketer is to keep in sync with the trends and find new ways to enhance brand values.
Hence, as the entire world is adhering to the norms of social distancing and avoiding mass gatherings, and businesses are discovering new ways to continue functioning virtually, marketers also need to find innovative ways that keep their respective brands afloat in these times.
Statista, a leading business data platform, observed a paradigm shift from live events to webinars, where the latter almost doubled its runnings, close to 49%, in March 2020 as compared to January 2020.
Webinars have presented themselves as a timely opportunity to such marketers. While webinars are very convenient, it helps advertisers and vendors promote their products and services while enabling them to explain their concepts better. Thus, webinars also prove to be useful in establishing credibility.
Conducting webinars is also helpful for the participants as they feel more secure and confident about their decisions made in their closed ecosystems and comfortable environment. Communicating this way also helps break the barriers that geography creates. This modern-day communicative device can not only help participation across geographical borders, but it can also help gauge the impact of the event.
While keeping pace with advancing technology and ease of doing things was enough to cause an inclination, the current global situation and need for lesser physical presence and communication have only added to those reasons to prefer more webinars.
Recent GoodFirms research, based on an extensive survey, revealed that webinars play a significant role in customer acquisition and retention in the IT industry.
Since it is imperative and in their best interest that marketers make the most of this opportunity concerning brand recognition and resonance, business is a world that is ruled by numbers where the overriding numbers are the ones that bring profit.
But what are the numbers that marketers should focus on when it comes to analyzing the success of a webinar?
The Topical Triad
Below are three critical metrics that marketers should closely monitor while conducting their next webinar to get the most value out of it:
The Clicks That Help the Brand Grow
While many marketers argue that it is the converted leads only that matter, it is the enhanced visual presence of a brand online that advertisers must put their focus on. Many marketers also focus on the percentage of conversions against the total registrations of participants of a webinar.
While this is an important metric, the real success is in the number of registrations that a particular webinar could attract.
The more signups you have, the more visibility a brand gets. With a higher number of registrations, even an increased number of conversions would look small in percentage calculations. However, the increased number of users, who became newly familiar with the brand, is the ones that will help create new opportunities for the business.
The click-through rate will help a marketer determine the number of registrations used in further analysis with additional data in calculating actual participation, lead generation, and even conversion.
It is essential to maximize the focus on the success of the current event. It is also vital that marketers know how many unique participants have registered, how many previous participants are attending again, and if there have been any shares of forwards through social media or eMails.
Thus, webinars are not only assisting in approaching a well-defined target group, but they also help in reaching new users surrounded by aggressive promotional activities.
Follow Through Driving the Difference
The most desirable outcome of any marketing activity is garnering more business. The same gets expected from a webinar.
However, while there is momentum, it is essential to have the ball rolling.
Even though a webinar is a supposed success, the leads get converted, and new business is in; the word should travel to generate positive after-effects.
One way this is done by involving social media. In an age where people have a fear of missing out on an event, incorporating social media platforms in the webinar and using them to get the buzzword out keeps the brand followers on toes.
Such methods will help not only in sharing the success of the webinar; it will also drive more brand engagement and will develop interest and anticipation among the viewers.
Trust in a brand is essential, yet the people’s trust in the individuals they know helps a brand grow. Facilitating an interactive experience will enable the participants to promote the actionable intelligence they have received, which will compel their social media followers to act on it.
Thus, social media users sharing embedding links over the internet will develop and enhance brand visibility more organically.
Feedback That Furnishes
Feedback is a critical element that helps any entity, and the same goes for a brand. Knowing the consumer-base and their requirements are the best way to build a better brand.
Any consumer develops a value perception about any brand, and surveys are the best way to draw out the notions about that value. Webinars can immensely benefit from surveys and the vast data points that can get collected from them.
Based upon when they are asked, webinar questions can be of 3 types: Pre-Webinar, During Webinar, and Post-Webinar.
Pre-Webinar questions help learn about why the webinar was chosen by the participant and the source where they learned about it. During-Webinar questions can help learn about any issues the participant is facing and providing live feedback for the speaker. The Post-Webinar questions are the ones that can hint how successful the webinar has been.
The last set will also help marketers know how much of the attendees completely sat through the seminar. Apart from eliciting positive and negative points about the current webinar, such feedback can improve key areas in the forthcoming events.
As a metric, what would interest a marketer is the demographic set’s knowledge influenced by its positive-negative aspects. Acting as a guide, this information can tell whether to continue current practices in areas where the results are positive and also if more attention is required in the areas where the impact was adverse.
With specific targeting at a demographic level, it furthers the chances of developing a brand image that is more liked by the consumers.
From the above exchange, it is safe to say that webinars are a simple yet effective way to attract customers but need to be observed and quantified closely to drive better results for the brand.
Marketers need to capitalize on these metrics to be able to formulate and execute effective brand strategies. Many marketers have turned to ClickMeter, a web-based professional analytic service that helps monitor, compare, and optimize marketing campaigns.
Whether the need is to learn about how many participants have registered for the webinar, how much they engaged during the webinar and where they are going, and what they are talking about the brand after the event has concluded can be answered by simple analytics points such as view and click tracking, detailed data on point ratings, and conversion comparison tables.
It is not too late for any marketer to conduct a webinar if they have not yet, but it will indeed be late if they are still going to contemplate. As always said, the time is now to grab the opportunity, and being accompanied by the right partner will help a long way.
Anna Stark is presently working as a Content Writer with GoodFirms – Washington D.C. based B2B Research Company, which bridges the gap between service seekers and service providers. Anna’s current role lingers in her to shape every company’s performance and key attributes into words. She firmly believes in the magic of words and equips new strategies that work, always in with ideas, something new to carve, and something original to decorate the firm’s identity.
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