Grip product updates and roadmap

Benchmarking Insights

Written by Jelena Stojanovic, Product Operations Specialist | 11/27/24 1:26 PM

We are excited to announce the upcoming launch of our Event Benchmark Report, a game-changer for event organizers looking to compare their event's performance against similar events on the Grip platform. This report provides insights that help you understand how your event measures up, allowing you to optimize for better engagement, more successful meetings, and improved attendee satisfaction.

What is the Event Benchmark Report?

The Event Benchmark Report enables you to compare key event metrics—such as activation rates, number of meetings, and attendee engagement—against other events of the same size and type. With access to over 2,500 events from the Grip platform, our benchmarks are highly accurate and reflect real-world data. These benchmarks cover five event types and four size categories, ensuring you receive relevant insights for your specific event.

Event Types & Quadrants

We've divided events into the following categories for benchmarking:

  1. Conference – Content-focused events with minimal trade show components.
  2. Exhibition – Trade show-heavy events with minimal content.
  3. Confex – Events combining a strong content program with a large exhibition.
  4. Networking Event – Smaller events focused primarily on peer-to-peer networking.
  5. Hosted Buyer Event – Structured meetings where participants are pre-scheduled to meet using our MustMeet product.

These event types are then split into quadrants based on size:

  • Under 200 participants
  • 200 to 1,000 participants
  • 1,000 to 10,000 participants
  • Over 10,000 participants

Why Event Benchmarking?

Event organizers frequently ask us, “What’s a good benchmark for my event in terms of meetings or engagement?” The answer has always depended on factors like event size and type. Now, with our benchmarking tool, you can find out exactly how your event compares and identify specific areas for improvement.

What's New?

We’re introducing two key new benchmarks:

  1. Meetings Benchmarks

    • Compare total meetings and accepted meetings across event types. For example, in the 1,000 to 10,000 participant segment, hosted buyer events have 8x higher accepted meetings than exhibitions.
  2. Session Benchmarks

    • Analyze session participation and feedback. Conferences and confex events typically see higher session joins and positive ratings compared to exhibitions. Interestingly, hosted buyer events outperform in terms of positively rated sessions per AEP, even though the numbers are lower overall.

Quarterly Updates & Anonymity

All benchmarks are 100% anonymous and are only generated when we have at least 25 events and five unique customers in each quadrant. This ensures the benchmarks are secure and reliable. The benchmarks are updated quarterly, so you'll always have access to the most recent data. If you choose to opt out of benchmark reporting, you can do so by emailing support, though this will prevent you from seeing any benchmarks for your events.

Why You’ll Love This Feature

  1. Data-Driven Event Optimization
    The Event Benchmark Report provides a clear, data-driven view of where your event stands compared to similar events, empowering you to make informed decisions for improvement.

  2. Tailored Insights for Different Event Types
    The benchmarks are customized to reflect the unique characteristics of each event type, ensuring relevance and actionable insights.

  3. Simple to Use, Comprehensive in Scope
    With an intuitive dashboard, you can quickly view your event metrics, compare them to the benchmarks, and pinpoint areas that require attention.

  4. Ongoing Development
    We’re starting with nine core benchmarks, with more to come in the following months. Stay tuned for additional metrics as we expand the capabilities of the report.

How to Access the Benchmark Report

  1. Navigate to the Reports Section
    In your Grip dashboard, locate the Event Benchmark Report within the Reports section.

  2. View Key Metrics
    Compare attendee engagement, number of meetings, and other metrics against benchmarks of similar events.

  3. Analyze and Act
    Use the insights to highlight where your event excels and where it falls behind, then develop strategies for improvement.

  4. Quarterly Updates
    The benchmarks will automatically update on the first day of each quarter, keeping your insights fresh and relevant.

Explore the Live Demo

If you're eager to see the Event Benchmark Report in action, feel free to jump straight into our live demo—skip the intro and head directly to the tool to start exploring how your event stacks up.

This new tool is set to revolutionize how you plan and improve your events, giving you the power to refine your approach based on data that matters starting October 1st. If you have any questions or need assistance, our team is here to help.