Whether you’re trying to improve next year’s event content, push leads into your pipeline or sell more tickets, there are many reasons to transition to a hybrid event. Least of which is access to a useful analytics platform that’s crucial for understanding audience metrics and meeting your business goals.
When you have complete control of attendee data, you are better situated to increase event ROI while applying insights to future engagements. With a hybrid platform that includes analytical capabilities, your entire team – from marketing to sales to production departments and beyond – are better able to control what’s working and what isn’t, and implement necessary adjustments.
So, if you’re trying to take control of your event tracking efforts, make sure you’re equipped with the best platform features that will harness key metrics. Here’s what hybrid event analytics can do for your organization.
The Benefits Of Hybrid Event Analytics
There are many reasons to host a hybrid event, from more engagement opportunities to increased lead generation to simplified content delivery. But, perhaps most beneficial to your company is the ability to track and measure data more effectively. By dissecting both in-person and virtual audience data, hybrid analytic platforms are taking the event marketing industry by storm.
There are many benefits of implementing an analytic platform for your hybrid event:
Gain real-time feedback and adjust content accordingly.
Uncover better sales information for sponsors and exhibitors.
Increase the return on your investment (ROI).
Organize leads by hot and cold.
Understand demographic information of ticket buyers.
Find the most popular sessions, presentations or speakers.
Apply any learnings to improve your next event.
Of course, you’ll need the right hybrid platform to help you manage your event’s impact from the planning process to well beyond curtain call.
When tracking your efforts before the event, make sure to look for a platform that can capture the following metrics.
It’s crucial that you implement a solid hybrid marketing plan to attract the right audience to your event. When promoting your event, marketing metrics will help you understand the most effective channels – from social media to display ads to search engine optimization – and apply more dollars towards what’s working. Choose software that features an open API function, where you can connect your in-house marketing analytics program directly with your event platform.
Registration Numbers & Demographics
When developing a registration form, make sure to capture some basic yet crucial data, like name, email, phone number, location, profession and acquisition (“how did you hear about our event?”) This helps sort audience members by basic demographics while letting you see the effectiveness of promotional efforts. Use custom URLs to understand where traffic is coming from and which channels are reaching the highest number of ticket buyers.
Sponsorship & Exhibitor Data
While audience data is important, don’t forget about other key event participants, like sponsors and exhibitors. It may be wise to share marketing data between various participants, to help understand your sponsors’ and exhibitors’ target audiences, promotional strategy, advertising messaging and other efforts. For example, perhaps several of your sponsors target a demographic of 18-25, social-media savvy individuals. This may lead to you developing a promotional plan through TikTok, Snapchat and Instagram.
When the big day rolls around, be prepared to capture the right set of data to better respond to audience feedback and apply your learnings to the next event.
With a hybrid event analytics program, collecting real-time feedback has never been easier. With features like live polling, one-on-one or group chat, virtual booth interactions and more, you get the ability to see how people are responding to your content offerings. Get an even better chance at collecting essential feedback by offering an incentive to those attendees responding to query forms. Live feedback also allows you to monitor for potential problems as they arise, so you can react quickly and reduce downtime.
Social Media Engagement
With the ability to integrate social media into your hybrid event platform, you can monitor important mentions of your company, hashtag, sponsors and other criteria across sites like Facebook, Twitter, Instagram and other sites. Understand how many people are liking or commenting on posts with your hashtag, find out who shared images or video from your event accounts, or automate responses to users who are tagging you in their posts.
Event Attrition Rate
Even though you may have impressive registration numbers, to receive a higher return on your investment, you need to ensure that people are actually showing up to your event and consuming content. Also known as attrition rate, this is a measure of how many registrants actually show up. To get your event attrition percentage, divide the number of missing registrants by total number of registrants and multiply by 100. So, if 50 people register for your event, but only 30 show up, your attrition rate would be 40 percent ((50/20)*100). If this number is higher than expected, there may be a few reasons why:
Poor targeting with advertisements or marketing efforts.
No lead nurturing, so registrants forget to attend or your event isn’t on the top of their mind.
The event is free, last-minute or otherwise easy for registrants to skip.
Data collection doesn’t stop just because the event is over. There are plenty of post-event metrics to consider so that you can push your efforts even further.
Audience Return Rate
You ended up having a great turn out, but will attendees sign up for another event down the road? Another hybrid event best practice is understanding how many audience members will return to a future event. This is an important indicator in how successful your production actually was. The easiest way to do this is to look at how many attendees also registered for previous events. When you have a large number of return attendees, you’ll know that your events are being implemented with success. When conducting your follow-up outreach efforts, start with those individuals who’ve shown up to several events, as they’ve proved their loyalty to your brand, and will be more receptive to sales efforts.
Lead Acquisition And Pipeline Flow
Whether your goals are to increase brand awareness, bring leads into your pipeline, establish yourself as a thought leader, or simply entertain and delight a target audience, a strong lead acquisition strategy is crucial in gaining value out of your event long after it’s over. Important metrics within this category include the number of referrals you’ve received, people who have offered up their contact information for services or products, or even future social media mentions. Make sure your sales team is on top of their game by conducting regular outreach to these attendees to help foster a conversation.
Revenue vs. Expenses
Find insight into how your budget fared by comparing revenue against expenses. Beyond ticket sales, you may have other revenue to consider, like sponsorship placements, merchandise or food sales, and successfully closed sales leads. How do these stand up against the overall benchmarks you defined from the outset? These will be important when it comes to attracting new sponsors and investors for your next engagement.
Are you searching for a powerful hybrid event analytics platform?
With features like automated reporting, API integration, social media monitoring and other powerful data management tools, we can provide you with the essential information to host an unforgettable hybrid event. We’ll help you craft a memorable event that boosts the connection between company and consumer – contact us today to learn more about our solutions or speak with a representative.