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Everyone is familiar with CPM or CPC.
These are marketing metrics that measure the budget spent on an advertising campaign in relation to its performance. How many people
saw the advert? How many of the online banners were clicked? And how do we compare against the benchmark? But which metric helps to make an online event measurable? And in a valid, data-driven way? The Ludwigsburg-based agency what when why has designed wwwAnalytics specifically for this purpose. Measuring the success of live communication is made simple with wwwAnalytics. This is because the tool makes the success of smart, hybrid and purely online events easily visible. Transparent and objective.
Example: Retailer Conference
Let’s take a digital retailer conference as an example. Naturally, the tool displays standard data such as total participant numbers or the average time spent by dealers at the online event. Things get more interesting when the engagement rate is measured: how many interactions took place during the event between sales representatives and dealers? And on which topics? This opens up new and highly valid perspectives on the effectiveness of the initiative. Qualitative factors can now also be measured. For example, the Change Index or the Benchmark Scope. Both are metrics that make the specific benefits of live communication ‘quantifiable’. Ultimately, wwwAnalytics is a simple and clear tool for making success measurable in both qualitative and quantitative terms, determining the ROI and, ultimately, assessing the cost-effectiveness of an event.
The Change Index makes changes in attitude or behaviour visible
Let’s take the Change Index. Through simple, anonymised surveys before and after the event, changes in stakeholders’ personal attitudes and behaviour can be made visible. Specifically, it can be shown whether, for example, retailers’ satisfaction has changed as a result of the event series or the individual event. All individually definable metrics are clearly aggregated on the dashboard. The detailed information is, of course, presented on further pages for the individual sub-sections.
Measuring the success of digital and hybrid events requires new KPIs
“Counting people at live events or surveying them via promoters has been standard practice in live communication for years. In the age of online events and hybrid event formats, we have seized the opportunity to rethink KPIs. After all, what does the number of logged-in users actually tell us if they’re on the phone at the same time or perhaps not even in the room at all?” says Sascha Jaite, a member of the management team at what when why, explaining the purpose of wwwAnalytics. He adds: “With this tool, we can collect qualitative and quantitative parameters for every event format in a manner that complies with data protection regulations. This pleases marketers as much as it does salespeople, communications experts and buyers.”