Webinars have always been an important tool that marketers use to reach their target audience.
Audiences and businesses prefer webinars alike. It not only saves your audiences from physical presence but also saves you from the hassle of conducting a live physical event. Have a look at a few statistics on the usage of webinars in the marketing industry:
- Over 60% of marketers use webinars as part of their content marketing programs.
- 73% of B2B marketers and sales leaders say webinars are the best way to generate high-quality leads.
- In 2017 webinars were reported as one of the top revenue drivers for B2B marketers.
You also might be using webinars to promote your latest products, services, or to receive feedback from their audiences.
But how do you know if a webinar was successful?
Today we’re presenting the top 10 webinar metrics that will help you measure the success of your webinar.
1. The Number of Webinar Registrations
The number of registrations can be a good indication of how successful you were in reaching out to prospective customers. Applying this measure can let you know in advance how many people are going to attend your webinar.
To be quantitative in the evaluation of your webinar’s success, you should set a target number of registrations based on the size of your potential audience. If your webinar didn’t receive the expected number of registrations, there could be many reasons behind it, let us look at some important ones:
- Your webinar topic is not interesting, innovative, or compelling enough to make the audience register for your webinar.
- Your ‘email reminders’ scheduling was not done properly.
- You undersell the main features of your webinar.
2. Conversion Rate (Landing Page to Registrants)
Conversion rate means the number of people who actually visited your landing page and registered themselves. More conversion rate means you have successfully convinced people to attend your webinar.
If you’re getting a low conversion rate, there may be something wrong with your landing page.
Maybe your CTA is not enticing enough or the landing page lacks color coordination.
Make sure the UI of your landing page is user-friendly and attractive, also, keep your registration process very simple and straightforward in order to achieve a high conversion rate.
3. Channels That Gets You More Registrants
You might be promoting your webinars through various channels like paid ads, social media, and email.
Monitoring these traffic sources can help you know which channel is most effective or has the highest conversion rate, helping you revise your marketing strategy accordingly. If a particular channel is leading to more conversions, you might want to focus on that particular channel.
For example, if you’re getting more registrants from social media than paid ads, you should reallocate resources to social media rather than paid ads.
4. Webinar Costs
Webinars are considered to be one of the most cost-effective marketing strategies. But still, you should keep track of your webinar costs, it can help you measure ROI.
For reference, a webinar can range from anywhere between $100 to $3,000 on average depending upon the scale you are conducting the webinar.
5. Registrant to Attendee Conversion Rate
Getting a lot of registrations should not be your end goal. Once you’ve succeeded in achieving a satisfactory number of registrations, it’s crucial to get these registrants to actually attend your webinar.
For webinars with 100 to 199 registrants, you can expect a live attendance rate of 51%. For events with 200 to 299, that attendance rate drops to 18%. In fact, an average of only 35% to 45% of registrants attend webinars they’ve signed up for (source).
For a high registrant to attendee conversion rate, you should keep up the buzz, enthusiasm, and excitement level in your registrants. You can send them reminder emails that convey a sense of urgency and their possibility of missing out on important updates if they do not attend the webinar.
6. Time spent in the webinar
Are they interested in listening to you?
Time spent by attendees determines the effectiveness of your webinar. If your audience hasn’t spent much time on the webinar then you’re also losing out on prospective customers.
To ensure the audience remains interested in your webinar make sure you do all the prerequisite preparations beforehand. Things like technical snags during the live webinars can be very annoying. Make sure you have all of your content such as slideshows, ready.
Make use of polls, quizzes, QNAs which can act as an icebreaker, it’ll help you keep your audience engaged throughout the webinar.
7. Live Webinar vs. Recorded Views
Don’t feel bad if the number of people watching your webinar live is less than expected. According to Go To Webinar, 84% of B2B customers opt to watch replays over live webinars.
So, to evaluate the success of webinars, measuring the views derived by recorded webinars can be as crucial as measuring live views.
If the recordings are getting a significant number of views and leads, you should create a dedicated resource or webpage that can be used by your audience to access the past recorded webinars.
8. Attendee feedback
CTR, traffic, leads, etc., these measures can only provide you quantitative data. To measure the real effectiveness of a webinar, you should know what attendees think about your webinar.
It doesn’t matter if feedback is positive or negative. Feedback will help you improve your upcoming webinars. After concluding your webinar you can send a thank you email along with a feedback survey form.
Let us look at some questions that you can ask in your feedback form (source):
- How would you rate the webinar?
- How would you rate the speakers?
- Were your expectations met?
- Would you contact someone you networked within the webinar?
9. Attendee to qualified lead conversion rate
Measuring the lead conversion rate can help you know if you’re able to influence or not.
According to different sources, 20% to 40% of webinar attendees become qualified leads. But just getting qualified leads is not enough because only 2-5% buy anything from you.
You can achieve a high conversion rate only if your audience is able to resonate with your webinar.
Here are few tips you can use to increase the attendee to qualified lead conversion rate:
- Align your sales and marketing efforts
- Pre-qualify your leads
- Make sure to follow up as soon as possible
- Aim to establish a personal connection
- Follow up with your leads across several channels
10. Revenue generated from the webinar
The end goal of every company is to generate revenue. Measuring the revenue generated from the leads that came through a webinar can be a great metric to measure the success rate of a webinar.
To get an accurate revenue figure, track deals closed as a direct result of your webinar as well as customers who interacted with a webinar at any stage of their buying journey.
Webinars are great marketing tools to convert audiences into paying customers. They are gold when compared to physical events. They are effective in terms of time, cost, reach
But without analytics, you can’t properly know if your webinar was successful or not!?
Along with effectiveness evaluation, analysis allows you to identify the shortcomings of your webinar, and revise your strategy to come up better in the future. I hope you found the above metrics helpful and will use them to measure your webinar’s success.