[Sponsored Post] Grow your MICE business with the power of industry data

The MICE industry is poised for vigorous growth in the coming years. In today’s marketplace, data and technology have become the sole catalyst for progression as event and meeting planners demand for a fundamental level of technology in products and services and highly customised data segments to better understand the market and effectively utilize the technology.

And there is a reason behind it…

Data and technology make several services more efficient and save costs. Any business in today’s world that doesn’t tap on the data available, risks running blind and not adapting to the ever-evolving market requirements. With that said, you may think you are making the most of data and technology, but what if your competitors are doing just the same? How do you stack up against the competition and stay ahead of the pack? One way is by benchmarking.

Benchmarking is a great way to assess your growth and market share with respect to competition. The competitive landscape of the MICE business market also needs benchmarking to get decisive context around business goals. It helps hoteliers to identify the gaps in their organisation’s processes and achieve a competitive advantage.

One of the largest global leaders in meeting, event and travel technology, Cvent, introduced Group Business Trends (for the USA Market) last year and expanded globally this year. This free Business Intelligence tool helps Hospitality and Event Industry professionals discover market trends and insights like- ADR, Response Rate, Market Share and Fair Share based on: Geography, RFP Type, Hotel Characteristics, Date Ranges etc. It allows industry professionals to view Cvent’s planner and hotelier data to discover new trends and develop their own strategy for the future.

This release offers over five years of Cvent data and 62,000,000 data combinations. In 2016 alone, planners sent $13.2B + worth of opportunities using Cvent. With such huge volume, Cvent’s data act as a strong indicator of the health and direction of MICE business in your Market.

Cvent also provides you with comp set reports that are customised to your competition and include far more data points. Check out this free tool to know more about such tailor-made reports, and analyse the good, the bad, and the ugly in your competitive landscape.

About Cvent:

Cvent is the global meeting, event and travel technology leader. Cvent provides hoteliers with an integrated platform, enabling properties to increase MICE business demand through targeted advertising and improve conversion through proprietary demand management and business intelligence solutions.

On November 29, 2016, Cvent announced that it had been acquired by Vista Equity Partners. In addition, Cvent and Lanyon Solutions also announced the merger of their two companies, creating a global meeting, event and travel technology leader.

About Author:

Sunny Arora – Senior Marketing Manager at Cvent

A Global Product Marketing veteran with a decade of Hospitality Industry experience.

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