“Key Webinar Metrics” You Must Know As A Pharmaceutical Brand
Our “Digital Marketing Playbook For Pharma” series is creating a lot of buzz and value. After centering the first two write-ups around Email Marketing and Social Listening, we now shift our focus to Webinars, given the growing dependence of pharmaceutical industry on virtual, multi-panel discussions, for not only creating academic value but achieving brand/business goals too.
Whether you see Webinar as a business solution or a channel for clinical conversations/discussions – either way you should take deep interest in its performance metrics. In this write-up, we will look into some “Key Webinar Metrics”. Broadly, you can divide the performance of your clinical webinar into three categories, namely:
Let’s understand their significance one by one.
i) Number of invitations sent – These are the people that comprise your primary contacts (HCPs, KOLs, Medical Associations, etc.). They are intimated prior to the Webinar, preferably a week before the session, using channels like Emails, SMSes, WhatsApp, etc.
Tip – A reminder email or SMS can be sent to people who either opened your invitation or clicked the CTA.
ii) Number of registered attendees – A webinar has a registration process if it is hosted as a closed session for an exclusive audience (For example – HCPs related to specific TAs). This metric is therefore relevant for such webinars only. That being said, we generally host open webinars on our platform and social media pages, and the HCPs can join the sessions directly after clicking the invitation links.
Tip – Consider this metric to recognize your high-intent participants. More number of people taking that extra effort and registering for the webinar indicates that you have rightly targeted your audience, and your topic is fresh and relevant.
iii) Number of attendees who join the live broadcast – Now this is what it all comes down to. It is always encouraging for panelists (KOLs, medical experts, etc) to address a large live audience and have an interactive Q & A session. If your webinars repeatedly attract a large number of live attendees, then it’s a reflection of your brand’s credibility. It shows that HCPs trust your content and are willing to schedule their time to participate in your webinar.
To get a good number, make sure that an automated email is triggered to every registered HCP (or to every invitee if there is an open webinar) the moment the discussion goes live. Some registered participants may still not join your webinar due to their “last minute” change of plans.
Tip – The timing of your webinar also matters, for allowing maximum number of registered participants to join the session. We for example host our clinical webinars between 9 to 11 AM or 5 to 7 PM on Saturdays, and between 2 to 5 PM or 6 to 8 PM on weekdays.
To read the other write-ups in this seriesClick Here
iv) Number of attendees who see the recorded/archived session – Even if your webinar didn’t attract a decent number of live participants, you can increase its reach by sharing the recorded/archived session with HCPs who registered or clicked the invitation links but didn’t join the live session. You can create post-webinar campaigns to reach out to them, something our in-house digital marketing team does for our industry partners.
To measure the success of your webinar accurately, it is important that you wait for at least a week, so that your session garner a decent organic reach, and you get a better understanding of your audience for the next set of webinars (on the same therapeutic area).
Tip – Put more emphasis on “Total Reach”, ie, “Number of views for the live session + Number of views for the recorded/archived session”
i) View-Through-Rate (VTR) – Ideally you would want all your attendees to go through the entire webinar. But that’s rarely the case as “Drop Offs” are always there. VTR takes into consideration the attendees who watch the complete session. For example, if there were Y attendees at the 15th min and X attendees at the end of the session, then:
VTR= (X/Y) x 100
ii) Drop-Off Rate – Due to multiple reasons, HCPs may lose interest and leave your session in the middle. You can find the number of “Drop Offs” for different time intervals (1 – 5 mins, 5 – 10 mins, 30 mins – 60 mins, etc). When calculating this metric, it’s better to break your session into as many time intervals as possible. This way you can accurately trace the points at which the attendees lost interest.
Possible reasons for the drop-offs:
o You didn’t market your webinar to the right audience (Therapeutic Areas weren’t mapped accurately)
o You didn’t communicate your webinar’s objectives with clarity.
o Your webinar lacked interactive elements (downloadable PDFs, PPTs, Likert Scale questions, etc.).
o There were connectivity issues.
o There was no proper lead up to your Call To Action.
Tip – You can conduct pre-event polls to understand the pain points or expectations of your targeted HCPs. This way you can give a relevant CTA and deliver purposeful content in your webinar.
iii) Attendee Interest Rating – It gauges attendee’s interest (on the scale of 1-100) during the webinar, by considering factors like:
a) Attentiveness – The total time duration during which your webinar’s window is on the attendee’s screen.
b) Attendance Length – The average duration of one session ( Session – When attendees continuously engage with the webinar for a particular time span).
iv) Number of comments/questions – The number and nature of questions shared by physicians/clinicians during the session indicate the quality of your overall presentation (Whether it was academically precise or vague, or whether it had the required visual aid or not).
Make sure you include visual aids and downloadable material in your presentation, to help HCPs better understand your subject matter and ask specific questions.
Tip – You can mention FAQs related to the webinar’s topic or even use comment chips, for stoking clinical conversations among the participants. It will also increase the “Average Viewing Time” of your webinar.
Below you can see the screenshot of a webinar (recorded version) we hosted on our platform. Here you can see the comment section on the right as well as the Total Reach.
i) Number of requests for further engagement/communication – It depends entirely on your Call To Action. You can always ask the participants (HCPs) to get in touch with your sales team (in person or virtual meetings), to discuss the clinical efficacy of related drugs.
Tip – At the end of your webinar, you can share a Google Form (asking HCPs for their preferred mode of interaction with your sales team) along with downloadable infographics on patient journeys.
ii) Response to the Follow-up surveys – It is difficult to quantify how involved and curious HCPs were during the session, but still, follow-up surveys (having open-ended as well as Likert Scale questions) can give you a fair idea. You can email the survey to your participants, a day after the webinar, to understand their takeaways from the session. Based on the nature of their answers, you can assess their degree of involvement.
For example, if their answers are precise and insightful, then the purpose of your session was definitely served. If they suggest a few improvements for your future webinars, then even better.
Tip – Your sales team can later reach out to the participants personally and strike a conversation around the shared knowledge.
In the times of COVID-19, we have hosted 200+ multi-panel clinical webinars on Docplexus, in collaboration with our huge pool of 7000+ KOLs across specialties, 30+ Partner Medical Associations and Global Associates. We have consistently achieved benchmark numbers for our partners, with our digital marketing team leaving no stone unturned to maximize the reach of every webinar.
If you are interested in knowing more about our Webinar Solution, feel free to reach us at firstname.lastname@example.org or 9881969598.