Along with your webinar methodology and best practices, metrics should be the third leg in your webinar roadmap. We’ve identified six key metrics (Click Thru Ratio, Online Polls, Attendance Ratio, Exit Survey, Audience Retention and On Demand Viewings) and ratios that measure your progress across the webinar lifecycle. Being able to understand the impact of each set of metrics allows you to measure whether you’re on track to deliver predictable outcomes so you can make adjustments to meet your business goals.
Metrics help you navigate to reach your target audience
After sending out your first touchpoint, (about 2.5 – 3 weeks prior to the live event) start checking daily registration stats to make sure you’re attracting the audience matched to your selected demographic. The information is extremely helpful for adjusting your messaging strategy. It’s not unusual to make changes to your second or third invitation based on registration metrics or answers to the registration page questions. Using some of the advanced features of Microsoft Excel, such as a pivot table, you can slice and dice the information, and you’ll be amazed at the insights you’ll gain about your audience before, during and after the webinar.
Transfer registration data directly into your marketing automation system
You can gather registration data through your web conferencing platform. Or, if your CRM or marketing automation platform integrates directly with your conferencing provider, you can access the registration data there. For example, ReadyTalk integrates with Eloqua, Marketo, Pardot, and Salesforce, so webinar data is automatically transferred from ReadyTalk into these platforms. This saves time, eliminates errors and gives you the most accurate, up to date profile of your attendees.
Breaking down your metrics
One important metric is measuring the percentage of people who clicked on a link to arrive at your registration landing page. ReadyTalk provides campaign metrics that track 1) the number of people who clicked on a particular registration link (you can create as many unique links as needed for various campaigns), and 2) the number who registered for the webinar from that link.
- Why is this important?
- How do you know if you’re hitting your target audience?
- What percentage CTR should you expect?
Let’s take an email campaign for example. Our benchmarks (your stats may vary) indicate, if you start with a matched demographic of 50,000 names that are aligned to your target audience, 1.5 percent of that group – 750 people – will make it to your registration page. Of those who come to your page, the ratio of those who register for your webinar, called the Click Thru Ratio (CTR), is the most important metric to predict outcomes. If you get 33 percent (or 250 people) of your landing page visitors to register, it’s a good indication you’re connecting with your audience. Usually about 40 percent of registrants actually attend the live event.
Here is a chart that summarizes these metrics. This does not account for the additional on-demand recording audience that could drive the number of people who saw your webinar up from 10 percent to 100 percent!
More on this subject at Guest post: Top Three Metrics for Webinar Lead Generation.