Hospitality Cloud MICE Competitive Set Dashboards Overview
Cvent Hospitality Cloud’s MICE Competitive Set Dashboards help hoteliers understand MICE demand, response patterns, and the RFP award process, by comparing it to up to 10 competitors in real-time, enabling you to make confident, data-driven MICE business decisions.
The Big Picture
The Summary section offers an overview of how your organisation stacks up against the competition. This section of the dashboard reveals both absolute and relative performance throughout the sales funnel compared to your competitive set. With a big picture view of demand, response, and award performance, you have the high-level market insights needed to adjust and optimize your sales and marketing strategy.
- Know where you stand regarding rank and fair share within your competitive set, in real-time
- See Performance Summary and Ranks with year over year changes and trending data
- Measure your sales team’s effectiveness in winning deals with a comparison of your conversion rates against the competition
- View trending performance throughout the entire funnel, or on a specific stage in the funnel over time
How You Responded
The Responses section reveals how your pricing and responses stack up against your competitors. A timeline view of Proposed ADR versus competitors helps you optimise pricing strategy. Charts for Average Response Time and Bids across market segment, region, event size, and booking windows show how effective your organisation is in handling different leads. Visualisations and subreports on turn downs, late responses, and missed responses help you improve conversions.
- Benchmark your pricing against competitors
- Improve your sales operations and follow-up processes
- Find insights and create coaching opportunities for your sales team
- Analyse your venue’s turn down propensity by reason
The Results section of the MICE Competitive Set Dashboards show the high-level effectiveness of your sales and marketing programmes. Visualisations of your hotel’s Awarded Room Nights or RFPs against competitors by market segment helps you understand where your efforts are succeeding, and an analysis of Bid RFPs by Declined Reasons helps determine the areas of improvement.
- Track outcomes over time by analysing awarded room nights or RFPs compared to the competition
- Drill down into your venue’s awards across different segments
- Enable win-loss analyses to streamline performance improvement