HomeMy WebLinkAbout01. December 19 VLMDAC Meeting 2024 PresentationVLMDAC Monthly Meeting
December 19, 2024
Agenda
1.Minutes Approval (1 minute)
Action Requested of Board: Approve minutes
2.Monthly Financial Report (5 minutes), Jake Shipe, Town of Vail
3.Destination & Media Measurement (30 minutes) Zeek Coleman, Vice
President, Tourism Economics, Miles Partnership
4.Strategic Planning Draft (45 minutes) Liz Gladitsch and Board
i.Action Requested of Board: Feedback
5.2024 Savings and 2025 Budget (20 minute) Liz Gladitsch and Board
6.Guest Loyalty Tracking (15 minutes) Bob Brown, Brown Analytics
7.2024 Summer Photoshoot (10 minutes)
8.Other Business
9.Public Comment
10.Adjournment
APPROVAL OF MINUTES
MONTHLY FINANCIAL REPORT
DESTINATION & MEDIA MEASUREMENTS
Website & Media
Impact Calculators
2024
For Optimization & Advocacy
Product Design Economics
The above leadership is backed by a global Tourism Economics team of 85+
Data Science
Interdisciplinary Approach
8
A Real Struggle
1
DMO Challenges
9
Funding
Challenge:
Maintaining and
growing funding
faces widespread
opposition
Hurdles
•Assumption that destination
marketing is unnecessary
•The belief that dollars can be
better utilized elsewhere
•Elected officials are constantly
changing
10
Increased
Accountability:
Leading to scrutiny
of DMOs and
leadership
Hurdles
•Growing demand for
transparency
•Increased emphasis on
measurable outcomes
•Concerns over the
appropriateness of executive
compensation
11
No Cash
Register: DMOs
struggle to quantify
their impacts
Hurdles
•DMOs market a
difficult-to-track product
•Beyond campaign metrics,
performance is hard to
quantify
•Transactions take place at
hotels, restaurants, attractions
and other local businesses
12
How We Help
2
Built On Decades of Expertise
13
Standard-Setting
Analysis 40+ Years of
Experience
650+ Staff,
20 Global Offices
Over 4,000 Clients
Worldwide
Unique Macroeconomic
Modelling
Most Accurate Global Economic
Forecasts
GL
O
B
A
L
R
E
C
O
G
N
I
T
I
O
N
Best Overall
Forecaster
Based on six key
macroeconomic indicators:
GDP, Fiscal Balance,
Inflation, Interest Rate,
Exchange Rate and Current
Account for 100+ countries
2023 2022 2021 2020 2019 5-year
total
Oxford Economics 101 115 165 100 111 605
EIU 132 131 119 118 90 582
Fitch Solutions 124 137 115 56 89 486
Capital Economics 64 73 50 85 98 368
Citigroup Global Mkts 58 92 67 83 69 408
JPMorgan 76 82 64 64 43 308
Moody's Analytics 87 68 42 40 43 221
HSBC 68 52 29 49 49 236
Euromonitor International 59 40 56 41 45 239
Standard Chartered 44 40 50 32 41 200
15
Trusted by Clients Worldwide
35 States
500 US and Canada Destinations
30 Countries
15 Industry Trade Associations
Client Reach
16
3
The Solution
Marketing Attribution for DMOs
17
We link location data to media
and website exposures from
your ad campaigns…
TH
E
S
O
L
U
T
I
O
N
Simply put…
… to analyze how advertising impacts
visitation and delivers spending,
taxes and jobs for your community.
18
Mobile devices are tracked, allowing us to
monitor visitor movements
TH
E
S
O
L
U
T
I
O
N
Device
Origin & Travel
Patterns
Recreation
Activities
Analyze for
Research
Frequented
Restaurants
19
All of these devices are linked to the same
household IP address
TH
E
S
O
L
U
T
I
O
N
IP ADDRESS | 192.168.0.0.468 Pu
b
l
i
c
P
l
a
c
e
s
E
x
c
l
u
d
e
d
f
r
o
m
Tr
a
c
k
i
n
g
20
Technology allows us to track who visits your
website and who sees your ads
TH
E
S
O
L
U
T
I
O
N
21
…and then shows up in your destination ...
TH
E
S
O
L
U
T
I
O
N
25
Built on over 40 years of globally trusted expertise
TH
E
S
O
L
U
T
I
O
N
Bringing in the
Economic Impact
26
It starts with finding influenced visitor
spend …
TH
E
S
O
L
U
T
I
O
N
Visitor spending calculated based on
hard data
The daily spending model is based on
visitor spending patterns across TE
economic impact clients, with detailed
analysis of hotel ADR and hospitality
sector operating costs.
1
Day and overnight
measures (with length of
stay) are based on
mobile device data for
each destination.
Influence
d day
visitors
Daily spend
per day
visitor
Daily
spend
per
overnigh
t visitor
Influence
d
overnigh
t visitors
Avg.
length
of stay
= INFLUENCED VISITOR SPENDING
27
To then calculate your total economic impact
TH
E
S
O
L
U
T
I
O
N
Induced
Direct
Indirect
Visitor spending
translates to economic
impacts covering business
sales, jobs, wages and taxes.
Methodology: We use an
individualized economic
model that reflects each
destination’s industry
structure and tax rates.
IMPLAN is based on BEA
data and is an industry
standard for impact
modeling.
2 The model quantifies total
economic impacts
Transactions between a travel
business and a visitor
The local supply chain activity
generated by travel
businesses
The local spending of
employees who earn income
from visitor spending
3
28
TH
E
S
O
L
U
T
I
O
N
2.7 M
CAPTURED
IMPRESSIONS
1.0 %
INFLUENCED
RATE
27 K
ESTIMATED
VISITORS
$29.9 M
TOTAL ECONOMIC
IMAPCT
$2.3 M
TOTAL STATE &
LOCAL TAXES
Let’s break down the
journey …
How do we get here?
29
TH
E
S
O
L
U
T
I
O
N
2.7 M
CAPTURED
IMPRESSIONS
1.0 %
INFLUENCED
RATE
27 K
ESTIMATED
VISITORS
$29.9 M
TOTAL ECONOMIC
IMAPCT
$2.3 M
TOTAL STATE &
LOCAL TAXES
Let’s break down the
journey …
How do we get here?
30
TH
E
S
O
L
U
T
I
O
N
Going deeper, we also compare :
Visitation rate of those who
saw your ad
Visitation rate of those who
did not see your ad
…to calculate the influenced visitor rate .
31
TH
E
S
O
L
U
T
I
O
N
Reveal the true ‘influence’ of your marketing
Those who arrived in your destination
32
TH
E
S
O
L
U
T
I
O
N
Reveal the true ‘influence’ of your marketing
Those who saw your ad and arrived in your destination
33
TH
E
S
O
L
U
T
I
O
N
Reveal the true ‘influence’ of your marketing
Those who saw your ad, arrived in your destination and
would not have come without your advertising influence.
34
35
TH
E
S
O
L
U
T
I
O
N
Content Types and Tactics
Best Time to Market
DMA or Source Market
Opportunity Markets
Media Partner
Now: You Can
Evaluate Media
and Website
Effectiveness
Dynamically
Over Time
ME
A
S
U
R
E
B
Y
36
TH
E
S
O
L
U
T
I
O
N
Advocate &
Illustrate DMO
Impact
Attribution Solutions
•Establish DMO value with
the proven economic
impact of campaigns
•Showcase cross-visitation
and spending in
communities
•Easily share insights with
stakeholders
•Deliver economic data
specific to visitor segments
37
Questions to Ask
•Background and expertise of the team?
•Does it demonstrate the full value of the campaign?
•Does it demonstrate true economic impact? Is the methodology defensible?
•Methodology: Can it be explained?
•Control groups: How are they constructed?
•Incremental visitation? What is the methodology used to deliver that number?
•Is it a cookie-dependent solution?
•Precision: Pinpoint data (lat./long from GPS data) to measure visitation, or approx. data (+/- 3 sq. mi.)?
•Can you measure down to the POI?
•What media is trackable?
•What are the impression minimums and why are they needed?
•Do impression minimums change based on campaign type?
•Is there flexible report delivery (exportable tables, PPT/PDF reports)? A dynamic dashboard?
•What actionable insights can you take from the data?
•What is the roadmap for continued development?
Thank You
STRATEGIC PLANNING DISCUSSION
-December 19 VLMDAC Board Meeting
○Review Discover Vail Strategic Plan draft
○Review objectives aligned with 2025 Operating Plan
○Discuss Town Council Jan. 21 meeting
-Jan 6 Packet Published for Jan 9 meeting for review
-Jan 9 VLMDAC Special Board Meeting
-Review and approve or approved with changes, the Town Council on Jan. 21
-January 21 VLMD/Town Council Meeting
-Present Strategic Plan and Aligned 2025 Operating Plan
-January - February
-Develop Action Plan for each Strategic Objective
Timeline
DISCOVER VAIL STATEGIC PLANEXECUTIVE SUMMARY DISCOVER VAIL STRATEGIC PLANDISCOVER VAILSTRATEGIC PLAN2025 - 2027 DRAFT
DISCOVER VAIL STATEGIC PLAN
OVERVIEW
About Discover Vail
Roles and Responsibilities
Budget
Goals and Objectives
2025 Operating Plan Alignment
Alignment to Town Council
DISCOVER VAIL STATEGIC PLAN
ABOUT DISCOVER VAIL
The purview of the VLMDAC was recently expanded by resolution to
provide strategic direction for the activities of the town’s tourism and
economic development department, to include:
Organization, promotion, marketing, and
management of public events
Activities in support of business recruitment,
management, and development
Coordinating tourism promotion activities
Facilitating and enhancing visitor experiences
DISCOVER VAIL STRATEGIC PLAN
DISCOVER VAIL STATEGIC PLAN
TEAM DISCOVER VAIL
Added here
EXECUTIVE SUMMARY DISCOVER VAIL STRATEGIC PLAN
VAIL LOCAL MARKETING DISTRICTADVISORY COUNCIL
Name Company Board Position
Added Here
DISCOVER VAIL STATEGIC PLAN
DATA COLLECTION
In September 2024, 27 community
stakeholders were contacted via email
invitation to respond to a quantitative/
qualitative blended survey with the intent
of capturing advance feedback for the
organization’s strategic thinking process.
EXECUTIVE SUMMARY
Discover Vail collaborated with Leadership Outfitters on a strategic thinking
process. The process began with data collection which is intended to provide
feedback that will enhance and inform future ideation. The planning process
includes brainstorming around change catalysts and the SOAR (strengths,
opportunities, aspirations, and results) framework. This dialog will result in the
refinement of existing strategy areas as well as the identification of any emerging
strategy areas. Goals and tactics to accomplish those goals will be identified in
the next phase of strategic thinking. This report is chronological, listing the data
collection first, then brainstorming, followed by the plan document.
EXECUTIVE SUMMARY DISCOVER VAIL STRATEGIC PLAN
DISCOVER VAIL STATEGIC PLAN
Championing the Vail Experience,
driving economic growth,
community vitality and
responsible tourism.
DMOPURPOSE STATEMENTDRAFT
DMO PURPOSE STATEMENT DISCOVER VAIL STRATEGIC PLAN
DISCOVER VAIL STATEGIC PLAN
DEFININGGOALS
Using the results of the survey data
and outcome of the strategic session,
three key areas were identifi ed that
will guide the organization’s strategic
future. Each key areas includes a
defi nition, goals and tactics to guide
the creation of a 3-year action plan.
DEFINING GOALS DISCOVER VAIL STATEGIC PLAN
ETHOS
COMMUNITY VITALITY THE VAILEXPERIENCE
DISCOVER VAIL STATEGIC PLAN
DISCOVER VAIL STATEGIC PLAN
A. Build an effective and nimble structure to expand trust
and confi dence and advance the mission of the DMO.
A1. Attract and enroll experienced and passionate professionals for
DMO board.
A2. Defi ne board structure, roles, and responsibilities (e.g., Deploy
advisors on an ad hoc basis to support key initiatives).
A3. Formulate and successfully execute and report DMO goals and
results in the context of a 3-year strategic plan.
A4. Maintain a fi scally responsible budget policy that is aligned with
Town Council strategic objectives.
B. Introduce, through communication, the purpose
and benefi ts of the DMO. .
B1. Create the DMO’s marketing and communications plan to share
with internal and external stakeholders.
B2. Create a model to quantify benefi ts of the DMO.
ETHOS
The Create the culture that guides
core character, values, and strategic
direction for Vail.
GOALS: ETHOS
VAIL
EXPERIENCE
COMMUNITY
VITALITY
DISCOVER VAIL STATEGIC PLAN
C. Elevate the Vail Experience.
C1. Develop a strategic event and activation strategy.
C2. Coordinate and optimize a seamless guest experience plan.
C3. Build a community-wide customer service culture.
D. Increase awareness of year-round destination.
D1. Establish a PR strategy tied to signature experiences.
D2. Develop Best In Class content to leverage non-peak messaging.
THE VAIL EXPERIENCE
Influence, curate, and deliver authentic
and welcoming year-round moments
that create loyalty and nurtures a deep
connection to Vail.
GOALS: THE VAIL EXPERIENCE
ETHOS
COMMUNITY
VITALITY
DISCOVER VAIL STATEGIC PLAN
COMMUNITYVITALITY
Foster an economically thriving and
engaged “Vail for Everyone”
GOALS: COMMUNITY VITALITY
VAIL
EXPERIENCE
ETHOS
F. Increase and cultivate local business engagement.
F1. Establish new guest service training program.
F2. Create effective business onboarding & retention program.
F3. Initiate buy-in from Vail Resorts & Vail Health on development initiatives.
F4. Package & communicate resources for entrepreneurs.
G. Identify needed infrastructure improvements and
share with Town leadership.
G1. Study possibilities for cultural/community/nature centers.
G2. Identify needed amenities to improve guest/local experience.
G3. Observe successes and learn from other communities/destinations.
H. Develop a ‘Vail Experience for Everyone.
H1. Create journey-maps of key audiences and define needs/opportunities.
H2. Define the Vail Experience to better respond to younger demographics.
H3. Create a stewardship campaign to encourage responsible behavior and protect our natural and built environment.
DISCOVER VAIL STATEGIC PLAN
2025 OPERATING PLAN
DISCOVER VAIL STRATEGIC PLAN
The board took the 3-year strategic plan as
written and identified objectives that are already
contemplated and addressed within the 2025
operating plan. All objectives will be built into
action plans as part of the 3-year strategic plan.
DISCOVER VAIL STATEGIC PLAN
A. Build an effective and nimble structure to expand trust
and confi dence and advance the mission of the DMO.
▶A1. Attract and enroll experienced and passionate professionals
for DMO board.
▶A2. Defi ne board structure, roles, and responsibilities (e.g., Deploy
advisors on an ad hoc basis to support key initiatives).
▶A3. Formulate and successfully execute and report DMO goals
and results in the context of a 3-year strategic plan.
▶ A4. Maintain a fi scally responsible budget policy that is aligned
with Town Council strategic objectives.
B. Introduce, through communication, the purpose
and benefi ts of the DMO. .
B1. Create the DMO’s marketing and communications plan to share
with internal and external stakeholders.
B2. Create a model to quantify benefi ts of the DMO.
ALIGNMENT TO 2025 OPERATING PLAN
ETHOS
▶ INCORPORATING IN 2025
Objectives within the 2025 operating plan.
Objectives to be built into the 3-year strategic plan.
GOALS: ETHOS + 2025 OPERATING PLAN
DISCOVER VAIL STATEGIC PLAN
C. Elevate the Vail Experience.
▶ C1. Develop a strategic event and activation strategy.
C2. Coordinate and optimize a seamless guest experience plan.
C3. Build a community-wide customer service culture.
D. Increase awareness of year-round destination.
▶ D1. Establish a PR strategy tied to signature experiences.
▶ D2. Develop Best In Class content to leverage non-peak messaging.
ALIGNMENT TO 2025 OPERATING PLAN
THE VAIL EXPERIENCE
▶ INCORPORATING IN 2025
Objectives within the 2025 operating plan.
Objectives to be built into the 3-year strategic plan.
GOALS: THE VAIL EXPERIENCE + 2025 OPERATING PLAN
DISCOVER VAIL STATEGIC PLAN
F. Increase and cultivate local business engagement.
F1. Establish a new guest service training program.
F2. Create effective business onboarding & retention program.
F3. Initiate buy-in from Vail Resorts & Vail Health on development initiatives.
F4. Package & communicate resources for entrepreneurs.
G. Identify needed infrastructure improvements and
share with Town leadership.
G1. Study possibilities for cultural/community/nature centers.
▶ G2. Identify needed amenities to improve guest/local experience.
▶ G3. Observe successes and learn from other communities/destinations.
H. Develop a ‘Vail Experience for Everyone.
▶ H1. Create journey-maps of key audiences and define needs/opportunities.
▶ H2. Define the Vail Experience to better respond to younger demographics.
▶ H3. Create a stewardship campaign to encourage responsible behavior and
protect our natural and built environment.
ALIGNMENT TO 2025 OPERATING PLAN
COMMUNITY VITALITY
▶ INCORPORATING IN 2025
Objectives within the 2025 operating plan.
Objectives to be built into the 3-year strategic plan.
GOALS: COMMUNITY VITALITY + 2025 OPERATING PLAN
DISCOVER VAIL STATEGIC PLAN
COMMUNITYVITALITY
GOALS:
♥ Increase and cultivate local
business engagement.
▲ Advance and communicate needed
infrastructure improvements.
★ ♦ Develop a ‘Vail Experience for
Everyone.
THE VAIL EXPERIENCE
GOALS:
★ Elevate the Vail Experience.
★ Increase awareness of year-round
destination.
ETHOS
GOALS:
♥ Build an effective and nimble
structure to expand trust and
confidence and advance the mission
of the DMO.
★ ♥ ♦ ▲ Introduce, through
communication, the purpose and
benefits of the DMO.
GOALS ALIGNMENT TO TOWN COUNCIL STRATEGIC PLAN
★ Provide an Authentic Vail Experience: Goals and Metrics for excellent service,
Unique Events, Inviting for all ages
♥ Support our Workforce, Leadership Programs
♦ Environmental Sustainability
▲ Create a Strong Community and Create Affordable Housing Opportunities
ALIGNMENT TO TOWN COUNCIL STRATEGIC PLAN
DISCOVER VAIL STATEGIC PLAN
COMMUNITYVITALITY
Foster an economically thriving and
engaged “Vail for Everyone”
GOALS:
Increase and cultivate local
business engagement.
Advance and communicate needed
infrastructure improvements.
Develop a ‘Vail Experience for
Everyone.
THE VAIL EXPERIENCE
Influence, curate, and deliver
authentic and welcoming year-round
moments that create loyalty and
nurtures a deep connection to Vail.
GOALS:
Elevate the Vail Experience.
Increase awareness of year-round
destination.
ETHOS
Create the culture that guides core
character, values, and strategic
direction for Vail.
GOALS:
Build an effective and nimble structure
to expand trust and confidence and
advance the mission of the DMO.
Introduce, through communication,
the purpose and benefits of the DMO.
NEXT STEPS: ACTION PLAN
ACTION PLAN
In the coming months, all objectives will be built into action plans as part of the 3-year strategic plan.
DISCOVER VAIL STATEGIC PLANEXECUTIVE SUMMARY DISCOVER VAIL STRATEGIC PLAN
THANK YOU
2024 & 2025 BUDGET SAVINGS
These 2024 estimated savings will
increase the 2025 fund balance by
$495,000+
Options for 2025 Estimated Savings:
-Shift to fund balance
-Leave operating plan as it is and
any access will go into the fund
balance if not pursued. Any shift will
be brought to Town Council as a
supplemental shift.
Estimated 2024 & 2025 Savings
2024 Estimated Savings
Vail Brand Launch $100,000
Vendor Expenses $150,000+
Contingency $245,000
Photo / Video Capture $150,000
2025 Possible Savings
Brand Launch $260,000
IPW Stand Alone Booth $25,000
LOYALTY/REPEAT VISITATION TRACKING
Return Rate Methodology
Evaluated 6 different methodologies, varying # of seasons for return and Summer or
Summer + Winter
1 Season
Return Rate Methodology
Evaluated 6 different methodologies, varying # of seasons for return and Summer or
Summer + Winter
2 Seasons
Return Rate Methodology
Evaluated 6 different methodologies, varying # of seasons for return and Summer or
Summer + Winter
3 Seasons
Potential Return Rate Metrics
The table below compares the 6 different measures of return rate/loyalty. We
recommend using the 2 Season Summer or Winter metric (1) to align with visit
patterns
Return Rate by Segment
Return rates vary significantly by geography (1) and Ski Interest (2) (though Ski
Interest is a small sample)
Return Rate by Segment
As Net Worth increases up to $750k, return rate increases (1)
Interest in Sustainability correlates with a slightly higher return rate (2)
Return Rate by Segment
Cultural Event Interest and Presence of Children do not correlate with return rate
Engagement of Returning vs. Lapsed Guests
For all Geo segments, returning guests engage more with emails than lapsed guests.
The lift is highest for Fly and lowest for Local
Summer vs. Winter Visitors
Most guests have visited only 1 season, with 60% winter and 40% summer (1)
As # of seasons increases, guests are more likely to visit both summer and winter (2)
Summer vs. Winter Visitors by Geo
The same general visit patterns hold true across geos, with Local skewing slightly
more toward multi-season and winter+summer visitation than other geos (1)
Return Rate of Summer vs. Winter Visitors
Return rate is significantly higher for a guest that visits both winter and summer (1)
Summer only return rate is slightly higher than winter only (2)
ADRIAN AWARD
Discover Vail Awarded Adrian Award Bronze
Miles submitted the Discover Vail
Multi-Channel Content Strategy on our
behalf for the category Content
Marketing. See packet materials for full
submission.
HSMAI Adrian has released this year’s
winners, and we are thrilled to announce
that Discover Vail Multi-Channel Content
Strategy won Bronze.
See packet materials for full submission.
OTHER BUSINESS & PUBLIC COMMENT
Thank you!
Upcoming Meetings:
VLMDAC Special Board Meeting
Thursday, January 9, 2024, Virtual
VLMDAC Board Meeting
Thursday, January 16, 2024, Grand View Room
VLMD / VLMDAC Joint Meeting
Tuesday, January 21, Town Council Chambers