ON24 Webinar Benchmarks Report 2019

Media & Publishing Trends

contentsEXECUTIVE STATEMENT 3

Methodology 4

PRE-WEBINAR BENCHMARKS 5Promotional Cycle 5

Best Days to Send Promotional Emails 6

Best Days for Webinar Attendance 7

Best Time to Run Webinars 8

WEBINAR BENCHMARKS 9Average Viewing Time 9

Registrant to Attendee Conversion 10

Average Attendee Rate 11

Integration of Engagement Tools 12

Integration of Video 14

POST-WEBINAR BENCHMARKS 15Always-On Viewing 15

Always-On Viewing Time 15

CONCLUSION 16

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Executive StatementThe media and publishing industry has been in a constant state of flux over the last two decades. Traditional media, being the most affected by the shift to digital, continues to suffer from diminishing advertising returns and changing content consumption patterns. In an age of mass information and accessibility, adapting to technology developments while engaging audiences with relevant content—all while staying profitable—is a balancing act media companies must master to survive.

Widespread connectivity and a proliferation of content platforms means the amount of time audiences spend with media has seen a sharp rise in the last few years. Media and publishing companies embraced these developments with enthusiasm as they could reach larger audiences than ever before, at scale. But as the selection of media options and entertainment choices expanded, so did the risks. Audience fragmentation and shifting advertising dollars continue to be key issues in the industry. Withstanding these pressures has become increasingly difficult.

As the direct-to-consumer race intensifies, media and publishing organizations are reevaluating their business models to challenge the dominance of digital-first publishers. High-quality content is no longer sufficient to determine success; delivering a seamless experience built around customer needs and tailored to each individual is where the new

competitive edge lies. After misinformation in the form of ‘fake news’ dominated global headlines in 2018, ensuring transparency and building trust is also a key focus.

Whether your business model is subscription-based, ad-supported or a combination of both, webinars can help establish a reputation as a customer-centric, transparent organization. They can generate a steady flow of high-quality leads for advertisers and sponsors at a lower cost, provide real-time insights into audience engagement and content performance and enable engagement with viewers right down to the individual level.

To help you make the most of webinars and bring your content to life, we’ve analyzed all webinar benchmark data from events produced by media and publishing organizations on our platform in 2018 and looked at how practices in this sector differ from those employed by their peers operating in other industries.

Here at ON24®, we’re delighted to share these insights with you to help you deliver more value to targeted audiences, increase the performance of your content and attract more subscribers. We hope you find this report useful and it inspires you to go the extra mile.

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viewing habits, and both live and always-on attendance and conversion metrics. Unless otherwise noted, this study uses the following definitions:

Live webinars—Audio or video-based events streamed on a specific day and time.

Always-on webinars—Audio or video-based events attendees can view always-on, including archived live webcasts.

Registrants—Prospects registered to view an event.

Attendees—Prospects who registered to view an event and attended that event.

MethodologyON24, the world’s leading webinar platform, compiled the data in this report. The events included in this analysis were selected from a sample of ON24 webinars conducted globally by media and publishing companies in 2018.

ON24 measured 6,391 webinars in this analysis.

All webinars were held between January and December of 2018.

Events represent a cross-section of almost 120 media and publishing companies.

In addition, those working for media and publishing organizations were surveyed to find out more about how they are using webinars and their effectiveness.

This study examines statistics across a webinar’s lifecycle, including webinar promotion and registration metrics, interactivity metrics, audience

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9%day of 8-14

days before

28%more than 15 days before

22%41%1-7

days before

Make sure you allocate sufficient time for your promotional campaign so you have plenty of opportunity to drive interest and build a sense of progression in your emails. Read our Webinar Registration Best Practices Guide for more tips on how you can increase registration rates.

ON24 TipUse longer promotional campaigns to boost registration rates.

Promotional cycle

of media & publishing companies consider webinars a key part of their marketing efforts.

Successful webinar programs are a result of careful planning and execution, and much of that success is down to the promotional campaign. Email is by far the most effective channel for promoting webinars, driving the vast majority of registrations, so optimizing the email invites you send is key.

It’s worth remembering that including basic information about the event (topic, date, time) in a single email is not sufficient to draw audiences

Pre-webinar Benchmarks

73%and build up excitement. A succession of dedicated emails works particularly well as multiple emails allow you to provide context and highlight the benefits of attending, include compelling calls to action matched to personas and feature related content or teasers.

The length of the promotional campaign is also a key factor to consider as longer campaigns enable you to build a narrative around the event, foster a sense of urgency as your campaign progresses and attract larger audiences.

Across our media and publishing sample, half of registrants sign up for webinars at least eight days before, with only 9 percent registering on the day of the event. Early registrants, who enroll at least 15 days before the event, account for over a fifth (22 percent) of the sample.

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Best Days to Send Promotional Emails

of media & publishing companies believe that webinars help them extend their brand.

As is the case in most sectors included in our benchmarks analysis, mid-week emails (sent on Tuesday, Wednesday or Thursday) account for almost two-thirds (64 percent) of registrations in the media and publishing industry.

The scales are tipping slightly in favor of emails sent early in the week, as Monday and Tuesday account for over two-fifths (41 percent) of registrations. This compares to an average of 38 percent across all sectors.

79%

Pre-webinar Benchmarks

The middle of the week—Tuesday through Thursday—is the best time to send promotional emails for your webinars. Timing is key so look at metrics from past email campaigns to determine the optimal day and time to reach your targeted audience. Remember it’s ultimately a process of trial and error.

ON24 TipMid-week promotional emails typically perform best.

12%Friday Saturday/

Sunday

6%

Tuesday

23%Wednesday

21%Monday

18%

Thursday

20%

6

8%Friday Saturday/

Sunday

4%

Monday

8%

Thursday

26%

Tuesday

28%Wednesday

26%

Best Days for webinar attendance

of media & publishing companies believe that webinars help them lower their cost per lead.

Mid-week is also the best time to host a webinar in the media and publishing sector.

Tuesday (28 percent) reclaims the top spot, while Wednesday and Thursday follow slightly behind and share the second spot (26 percent each).

67%

Pre-webinar Benchmarks

Mid-week webinars are most likely to attract large audiences. You probably already have a wealth of data on when various audiences prefer to engage with your online content so use those insights to help you identify the optimal day for your webinar.

ON24 TipAvoid running your webinars very early or late in the week.

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12 p.m.

6 a.m.

3%

18%

9 a.m.

7%

7 a.m.

6%

10 a.m.

10%

1 p.m.

4%

Best time to run webinarsOver half (53 percent) of webinars produced by media and publishing organizations on our platform are run between 10 a.m. and 1 p.m. The most popular time is by far 11 a.m. (25 percent).

In order to identify the optimal time to run your webinars, consider where your audiences reside and when they are most likely to engage with your content.

Pre-webinar Benchmarks

ON24 TipRun your webinars around noon to maximize attendance rates.

The best time to run a webinar is one fitting with your audience’s schedules. But, as a rule of thumb, late morning to noon works best. If you’re planning to accommodate multiple time zones, it might be worth considering hosting the same webinar at different times in the day by using simulive functionality.

11 a.m.

25%

8 a.m.

7%

1 p.m.

3%

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Average viewing time

how media & publishing companies rate, on a scale from 1 to 10, the importance of customizing the webinar console with their own branding.

WEBINAR BENCHMARKS

8.1Our data show the average viewing time for webinars produced by media and publishing organizations, including a ten to 15-minute Q&A session, was 48 minutes. This is significantly lower than the average of 58 minutes recorded across all sectors on our platform.

The vast majority (80 percent) of media and publishing organizations using webinars for their continuing education programs say their individual lessons last about an hour.

While it’s true that time-strapped audiences occasionally prefer short webinars, longer webinars can be more informative and engaging. The optimal webinar length depends on the target audience, type of content and the specific goals you’re trying to reach, among other factors.

ON24 TipExperiment to find your audience’s sweet spot.

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Registrant to Attendee ConversionThe average registrant to attendee conversion rate for media and publishing webinars was 51 percent, slightly lower than the rate recorded across all sectors on our platform (56 percent).

Our analysis shows that webinars used for marketing, communications and continuing education recorded above-average conversion rates, ranging from 53 percent to 56 percent. Training webinars lag behind, with an average conversion rate of only 44 percent.

Webinar Benchmarks

Educational webinars tend to attract larger audiences. Look for ways you can deliver educational content in an interactive, engaging way. Instead of pitching services, inspire your audiences and shape opinions by sharing insights from subject matter experts and building your reputation as a thought leader.

ON24 TipCustomer-focused, educational webinars deliver more value to your business.

Training/Learning

44%

Marketing

56%

Continuing education

55%

Communications

53%

Average webinar conversion rate for webinars with more than 100 attendees:

10

100-199 300-499

500-599

74% 8%

3%

200-299

1,000+

1%

14%

Average Attendee RateWebinars delivered by media and publishing organizations are quite popular as two in five (42 percent) attract at least 100 attendees, compared to a third across all sectors.

However, looking at the distribution by size for webinars with at least 100 attendees reveals that attendance rates are not as high as in other sectors. The majority (74 percent) of media and publishing webinars attract between 100 and 200 attendees. Only 4 percent attract over 500 attendees, compared to an average of 16 percent across all sectors on our platform.

Webinar Benchmarks

All the time and effort invested in your webinar is wasted if you don’t make use of all the data at your disposal to tailor follow-up communications. Look at the profile of attendees, how engaged they were and what content they accessed after the webinar, then use those insights to tailor your follow-up emails.

ON24 TipMake sure you have an effective follow-up process in place.

Distribution of webinar by size, as a percentage of webinars with more than 100 live attendees:

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Integration of Engagement Tools

of media & publishing organizations say it’s ‘extremely important’ to have access to engagement insights.

Without adequate tools in place, reaching webinar engagement goals can be challenging. By integrating engagement tools in their webinars, media and publishing companies can interact with their audiences on a more personal level and ensure the content they provide is tailored to individual needs.

The questions and answers widget is the most popular tool used to increase engagement in the

60%

Webinar Benchmarks

media and publishing sector, with four in five (81 percent) webinars incorporating it. According to almost two-thirds (64 percent) of media and publishing organizations we surveyed, Q&A widgets typically drive the most engagement in their webinars.

Resource lists are the second most popular tool, used by an average 61 percent of all media and publishing organizations. Resource libraries can be used to provide access to exclusive content, make the webinar experience feel more tailored to the audience’s needs and foster engagement beyond the webinar environment.

Around a third of webinars integrate polls, higher than the all-sector average of 22 percent. It’s encouraging to see that usage of social widgets and group chat is higher than in other sectors.

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Q&A Resources for download

Surveys Social

81% 61% 27% 27%Polling Group chat

30% 26%

The best way to increase engagement is to provide opportunities for interaction throughout your webinar, so make use of all the tools at your disposal. Q&A widgets are most commonly used and a good starting point but don’t be afraid to experiment with other engagement tools. Use engagement insights to tailor follow-up communications and future webinars.

ON24 TipEngagement is critical to the success of your webinar program.

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Integration of video

of media & publishing companies use video for product demos.40%

Webinar Benchmarks

From high-quality broadcast streaming to short integrated clips, video is proven to engender increased engagement with fickle audiences. If you still think that integrating video in your webinars is a costly and complicated process, read our guide to find out how you can easily use video to enhance your content.

ON24 TipUse video to create a better experience for your audience and increase viewing times.

Just over a third (34 percent) of media and publishing organizations have integrated video into their webinars in 2018, compared to an average of 38 percent across all the sectors on our platform.

Surprisingly, media and publishing organizations rate video integration as only 7.2 on a ten-point scale, lower than an all-sector average of 7.8. All survey respondents claim that video production is too expensive for their organization, while a third blame a lack of skills or internal buy-in.

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Always-on viewingOn-demand content is now standard in the media and publishing industry. Audiences expect relevant content that is accessible at any time and in the format that best suits their needs.

While organizations operating in the sector have rushed to meet this demand for always-on content by enticing customers with new services, there’s evidence that only a few have adopted the same approach with their webinar content. Only a fifth (20 percent) of media and publishing organizations make their continuing education programs available both live and on demand.

POST-WEBINAR BENCHMARKSAlways-on viewing timeThe average always-on viewing time for webinars produced by media and publishing companies is 34 minutes, significantly lower than an average of 47 minutes across all the sectors on our platform.

The average number of always-on attendees in the media and publishing industry is 95, 30 percent lower than the average number of live attendees. While this is slightly higher than in other sectors, many organizations still need a robust strategy to extend the shelf life of their webinars and drive post-live registrations.

Live webinars are a very effective way of facilitating engaging interactions with your audience, but that engagement doesn’t have to stop once the webinar is over. Expand the value of your webinar program by making all your webinars available on demand. Don’t know where to start? Read our Webinerd’s Guide to Always-On Engagement for more tips.

ON24 TipSet up an exhaustive always-on content hub.

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ConclusionThe average engagement score for all webinars produced by media and publishing organizations on our platform was 4.2. Webinars used for continuing education have the highest engagement score (4.9), but engagement with training webinars is below average (4).

Average ON24 Engagement Score per Channel Type

Marketing: 4.6

Training: 4

Continuing Education: 4.9

Internal Communications: 4.3

The media and publishing industry has evolved into a diverse, fast-paced ecosystem, with digital players often in the driving seat. Organizations operating in this sector face great pressures to change their business models in order to safeguard their revenue streams and keep their competitive edge.

Many have traditionally chosen to focus on either volume or quality to maintain a stable growth rate, but this approach is no longer sustainable. It’s no longer about churning out content; it’s a seamless experience, tailored to individual needs and delivered in the right context, at the right time, that will separate the leaders from the laggards.

Webinars are a very effective way of bolstering these customer-centric experiences and we’re excited to help media and publishing organizations use content in innovative ways, harness the power of technology to deepen their relationship with customers and gain better insights into their audiences.

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