Virtual Events: Goals and Success

Identify your goals and measure success

• It is important to consider the goals for putting on a virtual event early in the planning process.
• Virtual events can serve as a revenue stream, to build a fan base, or to generate sales leads.

Revenue Generator

• Paid virtual events are ideal for established events with track records and those with valuable content.
• Figuring out the right price to charge is a key challenge.
• It's important to consider what similar events charge, the content's value and scarcity, and the revenue needed to cover costs and generate a profit.
• Selling sponsorships can be another way to generate revenue, which is often used by those hosted by trade organizations or associations.
• Sponsorships help cover costs, with profits not being the primary objective.
• Sponsors expect attendees (sales leads).
• It's essential to create value and a marketing plan to attract attendees.

Building fans of your organization

• Virtual events can expose more people to an organization's ideas.
• Consider making the event free to attendees.
• Monitor the number of registrations because some platforms charge based on how many people participate.
• Send emails to remind people who sign up for free events about the event and to reinforce the benefits of attending.
• Include a reminder in the registration confirmation to automatically add the event to attendees' calendars.

Generating sales leads

• Some organizations use virtual events to expose new people to their products/services to generate sales leads.
• This approach is common in industries like technology, travel, health and wellness, real estate, and financial services.
• The event is usually free and includes a guest speaker to attract registrations.
• Registrations alone aren't everything, as registrants who don't attend are less likely to be engaged.
• Create incentives to encourage attendance.
• Put archived event content behind a registration wall to collect information and turn registrants into customers.
• Set three goals when using virtual events for sales leads:
  • How many people will register
  • How many people will express interest in learning more
  • The expected number of sales in the future

Big picture planning

• Keeping the big picture in focus is key, as there are a lot of moving parts.

Create a checklist

• There are two keys to managing a virtual event:
  • A checklist of things that need to get done
  • A timeline for when you need to do them
• A checklist should include:
  • Developing objectives and Key Performance Indicators
  • Choosing the platform to host the event
  • Establishing pricing
  • Building the event website (and app, if applicable)
  • Social media planning including the #hashtag
  • Picking the date(s)
  • Hiring keynote speakers
  • Finding panel moderators
  • Selecting panelists
  • Securing sponsors
  • Creating a marketing plan, including social media promotion
  • Creating speaker prep materials and guidelines
  • Scheduling and hosting speaker prep sessions
  • Building networking and interactive elements

Your event timeline

• Create an event timeline using "day zero" as the start and work backward to include all checklist tasks and their deadlines.
• Set deadlines for tasks such as selecting the date (e.g., six months out), selecting the platform (e.g., five months out), and selecting keynote speakers (e.g., four months out).
• Work forward from day zero to plan things like handling event replays, thanking participants, and scheduling the next year's event.

It's go time

• Major disruptions in a marketplace create opportunities for those willing to embrace change.
• Organizations that switched to digital marketing early gained an advantage.
• The opportunity for those who engage in virtual events is huge.
• Virtual events can deliver great experiences and benefits, solidifying their role.
• The future holds promise for a hybrid approach, where some people experience the content in-person, while others attend virtually.