Digital Experience Conversion
The conversion rate for live consumption of webinars was 43.6%, 8.9 percentage points higher than all industry average. Interestingly, the conversion rate for on-demand was 6.9 percentage points higher than average.
OVERVIEW
This report will evaluate the performance of digital experiences in the life sciences industry. It looks at how companies are deploying digital experiences and how audiences are consuming and interacting with this content. It also evaluates this data against all industry data, providing takeaways for areas of improvement.
Life sciences audiences conversion rates remained higher than all industry average and stable from their Q1 rates of 43.6% to live and 29.6% for on-demand experiences. Average attendee length slipped by 2 minutes to 52 minutes, the same as all industry average. Engagement during digital experiences slipped for life sciences audiences to below other industries and from the previous quarter. Life sciences marketers must consider how to leverage engagement techniques to retain attention and gather more first party data from attendees. Conversion rates for personalized and curated content experiences both increased in the past quarter for life science, 9 and 13 percentage points respectively. This is a signal that marketers must continue to prioritize these experiences and iterate them into their tactic mix.
AUDIENCE
Attendance
The average number of webinar attendees in Q2 rose to 88 for the life sciences industry.
Attendee Time
Life sciences was the same as all industry average for length of webinar attendance with 52 minutes.
Engagement
Questions
Life sciences audiences are on par with all industry average number of questions shared during a webinar, with 15. However, this is a dip from the previous quarter by 8.
Calls to Action
Life sciences audiences improved their CTA engagement following a digital experience by 167% quarter over quarter.
Engagement Actions
Life sciences audiences were less engaged during digital experiences, taking 27.5% less engagement actions during digital experiences.
Content Experiences & Personalized Experiences
Conversion
When evaluating conversion to attendance for personalized and curated content experiences, life sciences audiences outpace other industries. Life sciences audiences converted, respectively, 9 and 13 percentage points higher than industry average.
Engagement Actions
Following trends seen in webinars, engagement actions taken by audiences in personalized experiences trailed. Average CTAs per attendee was 76.7% lower than all industry, yet an improvement of 30% from the previous quarter.
Themes
The key themes coming from life sciences organizations for digital experiences include:
CONCLUSION
Life sciences marketers continue to outpace other industries when it comes to conversion rates to experiences. The opportunity for these marketers is to uncover additional opportunities for engagement during and after these experiences for audiences. With additional participation, will come more first-party data that can be used to better understand their audiences and create even more engagement opportunities in the future.