November 24th, 2018 by Tim Groot
Reading Time: 4 minutes
With the Grip Matchmaking Solution, we collect a large amount of data about the interest and intent of professionals. At an event of a thousand people, we collect more than a million data points about the interest of professionals.
But while we use all this information to provide highly personalized recommendations of people to meet, we do not spend as much time looking at how we can use this data for insights and event “Optimization”. We’re glad to share this has changed over the last couple of months where we have started providing what we call “Opportunity Reports” to some of our clients.
The 3 Stages of More Connected Events
The reason we have waited with Insights until now is that we have always seen the journey towards a smarter and more connected event experience having 3 stages:
1. Identification – Having a unique identifier for each individual and making sure people have a unique account when interacting with recommendations and our platform in general.
2. Personalization – Providing value to the end user through personalized recommendations and an overall smooth user experience.
3. Optimization – Using the generated data through step 1 and 2 to further improve and optimize the event experience.
The current state of Event Marketing Insights
When looking at what is generally classified as “insights” has mainly been the high-level number about usage. Such as, how many people logged in, or the percentage of people that looked at an exhibitor profile. At Grip, we wouldn’t necessarily classify this information as Insights but more just as usage data.
The challenge with “Insights” however is that anything is possible and unless there is a framework for how to think about the event experience there is the risk of spending an endless amount of time creating pivot tables that don’t really provide any value for a strategic conversation.
A different way of doing Insights
Therefore, for our Insights Reports, we have adopted a clear focus for our research around 2 topics: Revenue and Network. The reason for this is because we believe that the main value of insights is to drive further Event Marketing and have therefore focused our reports completely on this goal: Providing actionable insight for future event marketing.
Revenue is either something that is at the risk of being lost through unhappy Exhibitors / Sponsors or there is a potential to grow it where there is room for more Exhibitors & Sponsors in a particular segment.
For example, an organizer of a technology event could see that the AI & IoT exhibitors are much less popular than the DevOps exhibitors. This could result in the AI/IoT exhibitors deciding not to come back or taking a smaller booth at future events. However, in the networking data we could see that there is a particular group of visitors, Business Intelligence people from Medium and Large companies, are very interested in this group. Therefore the organizer should spend more time attracting these visitors to keep this group of exhibitors happy.
Network Impact is a bit more difficult to define, but we look at it as where there is a high discrepancy between people interested in a certain group of people and the supply of this particular group.
Below is an example of the graphs that are part of our reports where you can clearly see there is a number of user groups that are much more popular than the average.
At Grip, we are blessed with some fantastic data scientists and are enthusiastic about working with more clients on our Business Insights Reports. We are just scratching the surface around how technology can drive more data-informed decisions and drive more value for your events. Please don’t hesitate to reach out if you want to learn more about our Insights Reports.
We are Grip, a professional networking app for events. Grip empowers professionals to achieve their networking potential. The Grip matchmaking app connects delegates, speakers, and exhibitors in a fast and simple way.