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HomeMy WebLinkAboutMicrosoft PowerPoint - 2010 HolidaysResearchFinalReport1 11 Eagle Valley Events Holidays in Vail –Final Report SITE Marketing Intercept Insight, LLC 1/11/2010 REPORT CONTENTS Research Overview • Demographic Findings • Summary of Findings • Economic Impact • Recommendations • Appendix –Detailed Findings/Data • RESEARCH OVERVIEW Objectives •Gauge awareness of the Holidays in Vail event/specific activities •Determine event demographics •Understand media penetration to guide marketing strategy & tactics •Determine spending habits of attendees and economic impact/ROI •Understand possible event improvements by determining event satisfaction and influential attribute Methodology •Two to four minute questionnaire for the event: Holidays in Vail •Survey conducted via questionnaire programmed onto handheld devices (RDA’s) •Randomly intercept guests throughout each event •Goal to gain insight from at least 30 attendees per day/per event •Event dates and samples generated: •11/28/2009 –Tree Lightings/Parade –Total sample size = 61 •12/18 –12/19/2009 –Holiday Market –Total sample size = 70 •12/31/2009 –First Night –Total sample size = 34 •Total surveys conducted:165 NOTE: BE CAUTIOUS WITH THE DETAILED FINDINGS. MANY OF THE RESULTS BROKEN DOWN INTO CATEGORIES MAY NOT HAVE A LARGE ENOUGH SAMPLE SIZE TO BE SIGNIFICANTLY VALID. USE DETAILED FINIDINGS DIRECTIONALLY. DEMOGRPAHIC FINDINGS SUMMARY •55% here with family including children •56% male; 44% female •73% ages 25 –54 years –very evenly spread among ranges •HHI from <$99K through $499K –mix of levels •41% <$99K •20% $100 -$199K •21% $200K -$499K •28% In-State; 42% Out of State; 7% International (Mexico/Puerto Rico); 23% Local •79% of visitors staying in paid lodging; staying in Vail •Majority (44%) staying 3 –5 nights •22% staying 6 –7 nights •20% staying < 3 nights •Out of state/international visitors vast majority flew into DIA SUMMARY OF FINDINGS –AWARENESS LEVELS •11.5% of the total responds come to Vail specifically for the event; 88.5% learned of it after arrival •7% during the tree lightings/parade •16% during the Holiday Market •12% during the First Night •55% of the total respondents new the name of the event, but awareness dropped off •82% during the tree lightings/parade •36% during the Holiday Market •29% during First Night SUMMARY OF FINDINGS –MARKETING EFFORTS •Newspaper, posters, and friends/family were the top three sources for the event awareness •Those who come in whole because of the event (11.5% total), 56% learned of the event via the newspaper •For non-local, 33.3% learned of the event via the newspaper, and 30.5% saw a poster or banner •Concierge was not a selection, but was mentioned as a source of awareness several times ECONOMIC IMPACT Average Household Spend During event •The total average spend across all events -$5,621 •Tree Lightings/Parade: $3,639 •Holiday Market: $4,069 •First Night: $9,678 Lodging •85% of respondents staying in paid VAIL lodging •Average nights stayed: 5.57 (N = 81) •Total lodging average spend during Holidays in Vail = $2,455 •Average daily rate (based on nights stayed & avg spend) = $440/night Total Community Spend & Sales Tax •Estimated Community Revenue: $320,065 +/-20% •Estimated Sales Tax Revenue: $12,803 +/-20% EVENT SATISFACTION Satisfaction was measured on a 1 to 5 scale (1 = Not at all Satisfied and 5 = Extremely Satisfied) •Overall Event Satisfaction –Mean Rating: 4.50 •Tree Lightings/Parade: 4.70 •Holiday Market: 4.36 •First Night: 4.41 •Organization/Flow/Layout is the most influential factor on the Overall Satisfaction SURVERYOR OBSERVATIONS 11/28/2009 –Vail Tree Lightings/Parade •Not many people at the market, tough location •Caroling very popular, lots of children, perfect location •Parents commented that the parade over to Lionshead was too late for young children; however many participated •Parents that came from Vail Village would like to see a different line-up of events for the tree lighting in Lionshead. •Costumes and characters were very popular for the children 12/18 –12/19/2009 –Arrabelle Holiday Market Friday: •Not much participation…mostly guests coming off the mountain •Not many guests new about the event prior to arrival •Good location to attract guests •Most popular tent was the Gyro tent •Not enough food vendors Saturday: •Much busier venue. •More guests had heard of the event prior to arrival •More participation in activities (e.g. ice skating) •Seemed like more sales were taking place at the tents •Need more food vendors 12/31/2009 –First Nights •Families happy because children were entertained •Many families from South American/Mexico •Many didn’t come to Vail specifically for the event, but made a point to come as most heard about the event upon arrival •Most felt that there was not enough clear information about the event, but they knew something was going on •Some disappointment about not being able to view the fireworksand enjoy Lionshead at the same time RECOMMENDATIONS Event •Focus efforts on the organization/flow/layout of each event; most impactful to the overall satisfaction •Increase the amount food vendors at the Holiday Markets •Continue to have activities for children; majority of respondents attending are families with children Marketing •Market each event individually. The umbrella “Holidays in Vail”seemed to have dissipated/confusing •Continue to market in local newspapers, through posters and banners. Continue strong push with concierge communication. Be clear on the event locations and times in all communication •Opportunity to build more awareness of the event PRIOR to guestsarrival –website(s), emails, pre-stay communication Research •Treat each event surveyed as a separate event. Because the events surveyed were spread throughout an entire month, accurate demographic segmentation was difficult toobtain •Increase sample size quotas for each event –may need to increase days/hours surveys conducted. In order to obtain a more accurate economic impact, the sample sizes for each event must be increased. This would allow us to calculate on accurate ROI. Note: the population for each spending category should equal 30 at least. Appendix Detailed Findings DEMOGRAPHIC DETAILED FINDINGS N = 12 DEMOGRAPHIC DETAILED FINDINGS DEMOGRAPHIC DETAILED FINDINGS AWARENESS Q2. Do you know the name of this event? •55% of the total respondents knew the name of the event: Holidays in Vail. Tree LightingsHoliday MarketFirst Night Yes -Holidays in Vail 82.0%35.7%29.4% No, I don't know the name of the event 18.0%64.3%70.6% Q3. Did you come to Vail in whole or part because of the Holidays in Vail event? •11.5% or 19 of the respondents came to Vail in whole because of the Holidays in Vail event. FrequencyValid Percent I came to Vail because of Holidays in Vail 1911.5% Heard about Holidays in Vail after I arrived 14688.5% ACCOMMODATIONS Q6. What type of accommodations are you using this trip? •49% of the total respondents stayed in paid lodging •Respondents staying in paid lodging stayed an average of 5.45 nights. Q7. What town are you staying in? •85% of the respondents staying in paid lodging stayed in Vail. SPENDING Q9 -13. How much do you plan to spend on Lodging (if applicable), Dining, Retail, Activities and Transportation (total household)? •These averages are based on total responses, not just respondents who came to Vail in whole for the event. •These averages also contain figures from those respondents staying outside of Vail. ECOMONIC IMPACT –TOWN OF VAIL •Estimated Community Revenue/Sales Tax Revenue is based on estimated attendance of the events surveyed and the percentage of attendees that came to Vail specifically for Holidays in Vail (11.5%) •Estimated Community Revenue /Sales Tax Revenue is based on 85% of the average lodging spend, and half of all other spend categories of those respondents staying outside of Vail (15%)A conservative margin of error ,+/-20% has been placed on the Estimated Community Revenue/Sales Tax Revenue •The Estimated Sales Tax Revenue was calculated using 4% of the Estimated Community Revenue EventEstimated Attendance Tree Lightings2,500 Holiday Market -Meadow Drive250 Holiday Market -Lionshead1,000 First Night -Arrabelle Only1,200 Total estimated attendees4,950 % that came to Vail specifically for Holidays in 11.5% Vail Total estimated attendees that came to Vail 569 specifically for the Holidays in Vail event Total Other Revenue Total Spending Total % Total Weighted # of Total 85% of Lodging 15% of Total Half of the 15% of Less Half of the 15% Community CategoriesRespondentsRespondentsRespondentsSpendRevenueOther RevenueOther Revenue Not Staying in Vail Revenue 25%$54,006 $45,905 $45,905 Lodging Spend29 1641%$85,475 $12,821 $6,411 $79,064 $79,064 Dining Spend234 1128%$109,106 $16,366 $8,183 $100,923 $100,923 Retail Spend161 615%$80,425 $12,064 $6,032 $74,393 $74,393 Activities Spend88 Transportation 410%$21,383 $3,208 $1,604 $19,780 $19,780 Spend 58 Total Community 39100%$ 320,065 Total569 Revenue 20% of Total $ 64,013 Community Revenue Estimated Community Revenue -20%Estimated Community RevenueEstimated Community Revenue +20% $256,052$320,065$384,078 Estimated Sales Tax Revenue -20%Estimated Sales Tax RevenueEstimated Sales Tax Revenue +20% $10,242$12,803$15,363 Hierarchy of Customer Satisfaction Needs Delighted Satisfaction Attractive Surprises Met Scores from 4.5 –5.0 Merely Satisfied Promised Requirements Met Satisfaction Scores from 3.5 –4.4 Discontented Basic Requirements Met Satisfaction Scores from 1.0 –3.4 The Customer Delight Principle was designed to identify shortcomings within a business and to improve satisfaction. Satisfaction can be measured along a continuum and can be brokenout into three major points: Terry Keiningham and Terry Varva, 2001,The •Discontentment –customers needs are simply not being met. Customer Delight Principle, Google Book Search, viewed 6/23/2008, http://books.google.com/books?id=ot8oD9B2Ck8C&dq •Merely Satisfied –meeting customers needs, but not doing enough to distinguish among competition. =customer+Delight+Prinicple&pg=PP1&ots=VOXp3xE U0J&sig=9VbRewC5X8MN3xs2vDpmuS9muNk&hl=en •Delighted –meeting and exceeding the customers needs and expectations &sa=X&oi=book_result&resnum=1&ct=result EVENT SATISFACATION Q14 -18. On a scale of 1 to 5, where 1 = Not at all Satisfied and 5= Extremely Satisfied, please rate your level of satisfaction with the following attributes of this event: Overall Satisfaction, Organization/Flow/Layout, Kid/Family Friendliness, Availability of Food and Beverage, and Timeliness. •The Organization/Flow/Layout of the event is the most impactful attribute to the Overall Satisfaction rating