How can you measure Event Success and ROI?

How can you measure Event Success and ROI?

How do you measure an event’s success?

What data can (and should) you capture and how can you use this to quantify successful areas of your event?  What statistics can you use to identify areas for improvement?  These are all big questions!  And where’s the best place to start?…

Virtual and Hybrid Events provide opportunities to measure, analyse and improve the user experience which are unparalleled elsewhere.  ROI and user experience analytics might sound techy and complicated terms but in reality these analytics are clever and ingenuously simple (that’s the good bit!). When you set up your Virtual Event in the right way you can use these metrics, and results, to make your events best in their class.  Let us take a look at how…

ROI and KPI’s

Every finance director loves a statistic – quite rightly.  You need to know the money you’ve invested in an event is well spent.  But one of the difficult things when you’re creating something, well, creative, is to attach numbers and statistics to it and to make that success quantifiable.  Event organisers can feel when an event went well, but it’s important to be able to illustrate this in clear, undeniable black and white facts to other stakeholders too.  It might sound complicated and daunting but – this is the fun bit – it’s 100% possible and straightforward.  The key is to approach it correctly from the beginning and work out the stats you need before you start designing the event itself.

Event ROI - set objectives

First step: Get your objectives and KPI’s straight

Define how and why you are running your event and the desired output and outcomes.  Once you have these objectives outlined you can decide which KPIs you’ll use to measure them.  Your KPI’s will be the things you can measure which illustrate your objectives in a statistical way.

It’s simple really.  Here are some examples…

  • Educational event: Here you will likely be looking specifically at knowledge or confidence on a content topic, peer to peer networking and test or assessment results.  Example KPI’s: Poll results, speaker Q&A’s and results from gamification you build into the event.
  • Sales conference: You are likely to want to look at things like new prospects, networking, conversations, customer needs analysis and ultimately conversions and sales revenue.  Example KPI’s: New contacts, qualified leads, pipeline figures, orders taken, revenue, and chat Q&A.
  • Product launch event: Here you are likely to be looking at user and customer opinions and qualitative feedback. Example KPI’s: Polls, website and social media engagement and Net Promoter Scores. (There are some more great ideas here).

Second step: Work out the KPI’s you’ll need

Here is a list of some great KPI’s that can be used to analyse Virtual Event success.  Not all will apply to every event, obviously, you’ll need to make sure the KPI’s for your event are unique to your event and measure your objectives as outlined in point 1.  But, here’s a great starter for ten to get you thinking…

 

  • Registration numbers
  • Attendance numbers
  • Live polls
  • Clicks
  • % of game zones used
  • Types and methods content consumption
  • Social media engagement
  • Audience Q&A
  • Online search traffic
  • Breakout attendance
  • Exhibition stand interaction
  • Revenue generated
  • Feedback surveys
  • Hot spots
  • Chat rooms
  • Net promoter scores
  • Gamification results (i.e. Leader boards)
Virtual Event ROI - KPI's

Third step: Run your event and collect your data

Once you know what data you need, set up your event to include a dashboard for stakeholders to be able to see that data.  This can be done before, during and post event and should be collected and analysed post event.  The sky’s your limit and dashboards can be made to suit the requirements of the event and stakeholders.

Fourth and final step?  Analyse your results

Once your event has finished and you have collected your data, now is the time not only to measure your results and work out your successes, but also to analyse areas of improvement and change.  Those who are best in their class will look at continuous improvement throughout all of their events, and the key?   The stats that help you do this…

Virtual Event ROI - analysis

It’s clear that Virtual Event are fantastic at providing data led insights that can drive much positive change within an organisation, and also be a direct route to customers, staff or other relevant audiences.  For more information on how to approach metrics for your Virtual or Hybrid Event, get in touch or read more on our Metrics page.  Either way we’d love to hear from you.

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What is a Hybrid Event and how can you use them?

What is a Hybrid Event and how can you use them?

How do Hybrid Events work in practice?

Over the last year, as Virtual Events and online experiences have become an everyday ‘normal’ experience for many, there has been a lot of chat around the topic.

Hybrid Events, Live Events, Virtual Events, live broadcasts… what exactly are they? How do Hybrid Events work in practice?  How (and why) are businesses using these forms of communication?

To better understand the new Hybrid Event event space lets roll back the clock a few years. Before the pandemic a large part of our business was delivering Hybrid Events, in fact we built our first virtual platform and interactive Web App back in 2013. In a similar way the world is identifying a need now, we saw back then the need for merging live and online audiences as one, in order to successfully deliver events for many of our pharmaceutical clients. The Pandemic has forced the live event experience into change, but this change can be a positive one, opening up many more possibilities for event organisers and businesses alike.

How do Hybrid Events work?

Here we take a look at the ins and outs of the Hybrid Event, its definition, and the hidden power of successful utilisation of the Hybrid Events for a variety of purposes.

How do you define a Hybrid Event?

According to Wikipedia “A Hybrid Event is a tradeshow, conference, seminar, workshop or other meeting that combines a “live” in-person event with a “virtual” online component.”  We would go one step further to insist that the ‘virtual’ component comprises a live audience who can engage with, and influence, the content in real time.

How does a Hybrid Event actually work?

As described above a Hybrid Event is a Live Event, with an in-person audience and a virtual audience.  How it works totally depends on the type of event, the set up, the production, the content and many more factors. The ‘Live’ Event element is just that – live – but is also made available, in real time, to an audience at home, or elsewhere online.  This may be via a series of live streams, meetings or webinars with other forms of content such as presentation slides, polls and live Q&A and is hosted on an online platform that the virtual audience accesses securely online via a personalised log in.

“Hybrid events create an inclusive environment for live events. They extend beyond the conference room, inviting the audience to comment, question, vote and interact in real time whether sitting in the front row or attending virtually at home from anywhere in the world.”

Matt Francis

CEO and Founder, Procreation

Our top four ways to use Hybrid Events successfully

1. Use Hybrid Events to boost attendance and increase external audiences

Hybrid Events are 100% inclusive.  Audiences are not determined or restricted by geography.  Therefore, a B2B or B2C external event’s attendance can be massively boosted if it is turned into a Hybrid Event.

Those who could not attend in the flesh (for various reasons) can still attend online and engage in a way that provides them with huge value.  Ticket revenue can be improved and the quality of discussion can be enhanced with more feedback, greater interactivity, deeper conversation and varying viewpoints.

2. Use Hybrid Events to improve inclusivity for internal audiences and foster company collaboration

Cost, workload, departmental operations and travel time are all major factors that influence an internal events strategy, and impact who will be on the invite list.  From a sales kick off to an internal training course or annual conference internal events can be a cause for unrest within the workforce.  By making these Hybrid, all employees can be included, their opinions heard and acted upon and company culture enriched as a result.  According to Willis Tower Watson,  companies with effective communication strategies see 47% higher total returns to shareholders. That’s a statistic not to be sniffed at. (This great article by Staff base includes some other great insight too.)

Engage audiences Hybrid Events

3. Use Hybrid Events to increase sponsorship ROI

It will come as no surprise that offering sponsors new ways of showcasing products, branding, content and getting in touch with attendees directly will make a huge positive impact to sponsorship ROI. Live Events which also have a Hybrid Event element can reach wider audiences – tick (see point 1).

They can engage those audiences in new ways that Live Events cannot (and in ways that complement Live Events.) What’s not to love?

4. Use Hybrid Events to reduce environmental impact, but achieve the same objectives

As we’ve seen during the Covid Pandemic, and when international travel was banned, people could still get together, meet, collaborate, work, and succeed, virtually.  No, it isn’t quite the same in terms of experience and Virtual Events will always have a place, but there is also most definitely a place for Hybrid Events too.

If an event’s objective can be achieved using a Hybrid or Virtual Event format and the travel cost (and environmental impact) of that event is reduced, then that proposes a huge upside.  Over 100 of the world’s biggest and most influential Global organisations have pledged to become carbon neutral.  This illustrates the importance and commitment to reducing the impact of how we operate, and this trend is only going to pick up pace . Visit The Climate Pledge website for more info.

Environmentally friendly Hybrid Events

But what about an example?  EDUCATION.  Training events, internal up-skilling events, staff development programmes and much more.  Online, rather than in the room.  The discussion is tracked, easy to access, content is available on demand and live, and the cost to the business and the environment is massively reduced compared to training face to face.

In summary

Hybrid Events can be simple, they can be complex, but they undoubtedly provide an inclusive aspect to Live Events that is becoming increasingly valuable.

For more information on how to make your event Hybrid, get in touch with the Procreation team today.

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How to get the most out of Virtual Experiences

How to get the most out of Virtual Experiences

How can you get the most out of Virtual Event Experiences?

You might be about to host your first Virtual Event or maybe you’re just considering including Virtual Experiences, Events and Hybrid Events into your overall communications and event strategy?

Either way, before you get started, it’s important to plan ahead and consider the key elements that will help you make your Virtual Experience a success.  As an event organiser there’s a LOT to consider, but Virtual Experiences offer some phenomenal opportunities too.  Here’s the Procreation HQ list of top tips to think about when planning your next (or first) Virtual Experience…

What are your overall objectives?

It might sound obvious, but make sure your objectives for the overall event are defined, written down, and have SMART goals attached to them. This means that you can tailor the whole event approach, end to end experience, audience and content to achieve just that.  No event is hosted ‘just because’ – there will be a key reason why this is important, and what you’re hoping to achieve, so write it down (then you’re more likely to stick to it.)

Who is your audience?

With a Virtual Experience or Virtual Event the world really is your oyster!  Virtual Events know no boundaries, so think about the target audience as a type of person and don’t worry too much about being restricted by geography.  The great thing about Virtual Events is that attendees can attend no matter where they are.  It’s who they are that is more important.  Our tip?  Put a strategy in place to attract your desired audience using excellent, valuable content and a clear event value proposition.

Who is your audience?

What does your content look like?

There are SO many options to create and showcase exciting, engaging content with Virtual Experiences.  From peer to peer networking, gamification, live streams, polling, presentations, interactive Q&A, simultaneous translation and much more – the list really does go on.  Think about your branding, presentation style, personalisation and registration process too; this all contributes to an excellent memorable, experience for your attendees.

Will you offer networking opportunities, and if so how?

Networking at Virtual and Hybrid Events is excellent.  It’s as simple as that.  Virtual Networking often encourages the most introverted of attendees to ‘put themselves out there’ in a way that they perhaps wouldn’t be so comfortable doing in person.  From scavenger hunts, to personalised challenges that promote learning and fitness, networking options are plentiful.  Maybe networking isn’t something you’ve been able or confident enough to do at a Live Event in the past.  Well, now’s your opportunity.

    Virtual Event custom branding

    What about sponsorship?

    Sponsorship is a great way to include additional (and highly valuable) content.  Having a Virtual Event sponsored (either the whole event overall or an element) can add a new layer of value for attendees as well as hosts and organisers alike.  Virtual Event Sponsors can provide personalised content, opportunities for valuable interaction and provide excellent learning opportunities.  Sponsors can also bring a larger, or more targeted audience.  If approached cleverly and strategically sponsorship can increase registration numbers, revenue and event value.

      What analytics will be available and how will you use them?

      It will come as no surprise that Virtual and Online events provide a level of analytics that is unrivalled Face to Face.  These analytics can not only be a useful sales tool (in the right context), but can encourage real behaviour analysis and drive innovation.  Using this information is crucial to understanding delegate engagement and identifying areas for improvement, in turn creating better virtual events and experiences, and more importantly overall business growth.  Read more about metrics here.

      How can you use Virtual Event analytics?

      But what about the attendee perspective?

      Running an event is important, but a lot of us attend these types of events too.  How can attendees get the most of these amazing experiences?  Here’s our list for that part!  Procreation’s top tips for attendees to get the most out of Virtual Events, Hybrid Events and Virtual Experiences…

      1. Give yourself a dedicated space

      We’ve all worked from home (the juggle is real), but aim to be able to concentrate, when you need to. Set up a workspace, with some daylight and fresh air (where possible) that helps you feel awake and focussed (we love a good window view…).  The key components?  A good chair, good lighting, good internet connection – see some more here.

      2. Let others know you are not available

      In the same fashion as if you were attending an event or training in the flesh, let others know you are occupied. Put your out of office on, delegate important tasks, arrange cover.  This way, you can focus on the content 100% and get the most out of it without interruptions (oh, and put that phone on airplane mode). Some great tips on why Out of Office is SO important from Forbes.

      3. Set boundaries and allow break times

      While it’s very well to say it’s good to shut yourself away, the blur of lines between home and workplace have a huge impact on fatigue. Give yourself dedicated times to get up, walk around, get outside, drink plenty of water, and give your eyes (and brain) a break.  Set boundaries with those you share a home office/home/office with, so that during your focussed time, that it is just that.

      Make sure others know you're unavailable

      4. Hydrate, hydrate, hydrate!

      We can’t stress the importance of that!  So important to do and so easy to forget.  We love a simple water bottle with times on to make sure you to drink enough throughout the day, but there’s some great tech here if you’re the type of person who needs a bit more of a nudge.

      5. Split screens

      Someone once said “Once you’ve used a split screen, you won’t go back” and this couldn’t be more true.  It’s hugely helpful if you’re trying to type and watch at the same time.  While this is NOT a necessity and some people like a good old fashioned pen and pad, some thrive with a split screen set up during a Virtual Event.

      Use split screens for Virtual Events

      Virtual Experiences are here to stay and we believe will become an integral part of almost all organisations.  Contact us for more information on how to approach this exciting format of communication and the endless possibilities.

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      How to prepare for growth – Virtual Experiences

      How to prepare for growth – Virtual Experiences

      Prepare your business to grow with Virtual Experiences

      We all know that planned interactions are important for all businesses and organisations. Whether this is a staff incentive, a training event, a board meeting, or a quarterly sales conference, many of these ‘events’ – formal and less formal – form the bedrock of an organisation’s culture which sets the tone for communication, collaboration and innovation.  Virtual Experiences are very much a part of that mix nowadays.

      In the last 10 – 15 years technology has moved on at an unbelievably rapid pace. ‘The Four’ – Google, Amazon, Facebook and Apple – have changed how we operate in person, online and in life in general, forever. (The book – by Scott Calloway – is an excellent read if you’ve not yet read this we urge you to.)

      Virtual Experiences and the Digital World

      Virtual experiences and digitisation are thoroughly ingrained in our ways of doing things. But, how can business leaders use virtual experiences to help their businesses grow? Here we take a look at some of the main areas.

      Improve communications accross multiple locations

      The digital age has allowed us to connect people and organisations easily, quickly and regardless of geography. Virtual experiences (and virtual events) allow staff in a global or multi-national organisation to connect and form relationships without having to travel.

      This may be one to one, or one to many, and there are huge possibilities to improve communication, speed up communication and ‘get stuff done’ quickly, and collaboratively. (Does anyone remember the fax machine?! Things really have moved on!)

      Improve communication with Virtual Events

      Improve organisational agility

      The ‘agile’ methodology is well recognised in software development, but is also now a well- considered way of improving project based outcomes and departmental collaboration.

      Consider an organisation that requires input from multiple stakeholders and departments to see an idea go from concept to fruition. This process can be complex and longwinded. The capabilities of virtual experiences are now so sophisticated and allow these types of important (and interactive) discussions to take place quickly, and from a range of locations and across time zones.

      These technologies can support activities from daily scrums to product development and experience testing which offers organisations real opportunity to get products to market more quickly, beat the competition, and increase sales or profitability. (New to ‘the agile methodology’ ? Read more here.)

      Organisational agility

      Collaboration, internal communication & company culture

      According to Forbes “One of the biggest challenges of being a leader is communicating effectively with a variety of stakeholders.” Internal communication (or should we say lack of internal communication) can be a big frustration for employees. It can have a negative effect on company culture which has a knock on result of reduced productivity.

      Similarly to ‘agile’ working, Virtual Experiences and Virtual Events break down barriers and reduce the need to work in silos. Virtual events and experiences can dramatically improve the way a business communicates with its workforce in a creative, engaging, and timely way.

      Company Culture

      In Summary

      Virtual Experiences provide a hugely powerful, easy to use and collaborative way of working and improving how workforces operate.

      From something small to a much larger project, the possibilities are endless and totally bespoke.  To find out more, or to ask a question from one of our experienced team, get in touch today.

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      How can Virtual Events support the return to face to face?

      How can Virtual Events support the return to face to face?

      Virtual Events as a support system

      Virtual Events platforms that have facilitated remote schooling have been a lifeline during the global pandemic.  During the pandemic Virtual Events have supported, and will continue to support, the return to face to face by allowing things that couldn’t happen in person, to take place virtually in the interim.

      Human interactions are the essence and social fabric of our society and something most are very keen to get back to, and soon (we don’t know about you but we can’t wait to see an actual, real, live gig again; we’re sure you’re with us on that, right?!…)

      As society opens up, albeit tentatively, there is much appetite for in person experiences, real life, real time, human, face to face interactions.  But we can’t ignore the success and acceleration of the virtual platforms that have supported our businesses, young people and health and wellbeing needs throughout 2020.

      How we can improve face to face experiences?

      As we move back to more normal socialising and reduced social distancing, how can we use the learnings of virtual experiences and virtual events to both improve and enhance our in-person experiences?  Here are a handful of key areas that stand out…

      Better use of the data and analytics

      As discussed in our recent blog How hosting Virtual Events will support the climate crisis, there are several learnings to be taken onboard following the surge in Virtual Events. Many of these learnings revolve around the use of data, analytics and measurement and the creation of meaningful, substantiated insight.

      Virtual Events provide much data that can be used for a wide variety of purposes; from engagement, content development, sustainability practices, education, internal communications and much more.  This, now much more normalised practice of using data will help support the detailed reporting of live and hybrid events to ensure that the overall organisational objectives of hosting that event are met.  Led by the data and social listening, event owners can create a clear vision on how to best innovate, as we’ve never seen before.

      Virtual Event data

      Improved educational programmes

      There has been a big increase in the appetite for, and the success of online events for educational purposes.  Schools, universities and businesses alike have adopted new ways of working remotely, with great success and it seems that as a population we are keener to enjoy remote learning opportunities than we ever were before.  With virtual events now a credible player in the communications, education and events mix, there is huge opportunity to supplement live events and experiences with additional educational events and programmes, but in a virtual format.  Virtual events for education, both in addition to, before, during, and after in-person experiences offer huge opportunities to individuals and organisations that would simply not have existed without a virtual events platform.

      Virtual Events create excellent educational programmes

      Environmental impact: awareness and action

      As shown in this great example of a recent annual event in New York, virtual events can produce up to 99% less carbon emissions than their in-person equivalent. That’s a staggering statistic and something that won’t be forgotten, even when we ‘return to normal’.  The stark realities of the new ways we operate and the reduced impact on our environment will undoubtedly sharpen up the way in which we run in-person events, forever.  The good thing?  Quantifying this change.  Since businesses have been operating remotely, the mindset of using data and measuring ‘things’ has become much more normal and easier as people have been forced to adopt technologies they’ve not been exposed to previously.  Businesses will now have ways to measure and quantify the environmental impact of their events, and (hopefully) learn to better offset and reduce the environmental impact as a result..

      Virtual Events help support the environment

      When Live Events awake again, Virtual Events will help improve the Live Event…

      • Content development
      • Attendee engagement
      • Networking and sales opportunities
      • Educational programmes
      • Return on investment
      • Data analysis and insight development
      • Setting and achievement of event objectives
      • Sustainability
      Virtual Events support Live Events

      In summary

      There are heaps of ways we can learn from virtual events and lots of ways these learnings can and will support better targeted, greener events with content that drives change and promotes a more prosperous world.  It’s an exciting time.

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