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HomeMy WebLinkAboutDashboard Template and Explanation for Event ProducersDay visitorto Vail Full-timedownvalleyresident Full-timeresident ofTown ofVail Overnightvisitor tothe region Seasonalresident ofVail Valley 0% 10% 20% P e r c e n t R e s p o n d i n g 20% 25%25% 20% 10% 3. Visitor Type 0%20%40%60%80% Percent Responding Annual HouseholdIncome Under $50k $50k-$100k $100-$150k $150k or more Gender Female Male State/Country Colorado Australia Maryland Texas Ohio Florida Massachusetts New York Pennsylvania Michigan Minnesota UK All others 30% 50% 10% 10% 50% 50% 65% 5% 5% 5% 3% 2% 2% 2% 2% 1% 1% 1% 6% 8. Overall Visitor Profile 60K 70K 80K 90K 100K 110K 120K 130K 140K A t t e n d e e -D a y s 100K 1. Attendance Estimate 0%20%40%60%80% Percent Responding Are you staying:In paid lodging With friends/family Vacation home/timeshare Other How many peopleare staying inyouraccommodationsunit? Myself only 2 4 3 5 6 or more Nights in the areathis trip 1 2 3-5 6-8 9-14 15 or more Where are yourlodgingaccommodationslocated? Vail Avon Beaver Creek Summit County Edwards Eagle/Gypsum Other 70% 15% 10% 5% 10% 35% 20% 15% 15% 5% 5% 13% 32% 18% 11% 21% 80% 2% 10% 2% 2% 2% 2% Nightly RateAverage: $300Median: $250 7. Overnight Visitor Profile: Overnight Visitors and Seasonal Residents Only 0: None, Iwould havecome to Vailanyway 1 2 3 4 5: Half myreason forcoming toVail 6 7 8 9 10: My onlyreason forcoming toVail 0% 20% 40% 60% 80% P e r c e n t R e s p o n d i n g 64% 59% 46% 44% 4%4%4%5%14% 0%0%4%2% 31% 30% 24% 4. Importance of Event in Decision to Visit Vail Today Promoter (% 9 & 10)Passive (% 7 & 8)Detractor (% 0 - 6)NPS (Promoters minusdetractors) 10% 20% 30% 40% 50% 60% 70% P e r c e n t R e s p o n d i n g [0 =N o t a t a l l l i k e l y ,1 0 =E x t r e m e l y l i k e l y ]66% 10% 24% 42% 5. Likelihood of Recommending Event to a Friend or Family Member Total Lodging Restaurants/ Bars/Prepared FoodVendors Recreation (skiing,lessons, rentals,etc.)Shopping Other items excluding lodging $0 $100 $200 $300 E c o n o m i c I m p a c t p e r A t t e n d e e -D a y $210 $75 $60 $40 $25 $10 6. Direct Economic Impact to TOV per Attendee-Day A. 2015 event funding B. Direct economic impact to TOV C. Economic impact payback ratio(incremental community economicimpact per dollar of event funding) $210.00 $21,000,000.00 $100,000.00 2. Return on Investment: Funding vs. Impact Summary of Key Survey Results Event Visitor Summary: [Name of Event Here] Overnight Only Day visitor to Vail Full-time downvalley resident Full-time resident of Town of Vail Overnight visitor to the region Seasonal resident of Vail Valley Average Day visitor to Vail Full-time downvalley resident Overnight visitor to the region Seasonal resident of Vail Valley 8.0 8.0 4.0 3.0 Vail Event Dashboard: Explanation of Data Items RRC Associates, 4/22/2015 1. Attendance Estimate RRC has defined attendance as “attendee days.” This represents the number of unique individuals attending the event each day, summed across the days of the event. The calculation takes into account daily crowd counts at the respective venues of the event (based on manual crowd counts, counts from photos, ticket/registrant counts if available, and/or other sources), and factors in duplication (i.e. the same visitors attending multiple venues on a given day, if a multi-venue event) and turnover (turnover of the crowd at a given venue on a given day), based on survey results, data provided by the event organizer, and/or other data as available. Depending on the nature of the event, other extrapolation techniques may be used, e.g. spectator vs. registered participant ratios (for selected sports events), factors to convert “registered participants” to “participant-days,” etc. 2. Return on Investment: Funding vs. Impact A. Event funding is the amount the Town of Vail (TOV) provided to the event in 2015. B. Direct economic impact is the total economic impact per attendee-day (see #6 for more information on this metric) multiplied by the number of attendee days (as explained in #1). C. Economic impact payback ratio is the direct economic impact divided by the amount of event funding. It indicates the dollars of economic impact in Vail generated per dollar of TOV event funding. 3. Visitor Type This reflects results of the survey question asking what best describes the respondent on their visit to Vail this trip. 4. Importance of Event in Decision to Visit Vail Today This reflects results to question “How important was (name of event) in your decision to visit Vail this trip, where 0 indicates it had no influence and you would have come to Vail anyway, and 10 indicates that (name of event) is your only reason for visiting Vail this trip?” The dashboard shows the distribution of responses by respondent visitor segment, as well as average importance ratings by segment. 5. Likelihood of Recommending This Event to a Friend or Family Member The survey question “How likely are you to recommend (name of event) to a friend or family member, on a scale where 0 is not at all likely, 5 is neutral, and 10 is extremely likely?” is the question that drives this block of the dashboard. This question is used across a wide variety of industries to develop the “Net Promoter Score” or NPS. NPS is the percentage of respondents who are “promoters” (responding “9” or “10=extremely likely”) minus the percentage of respondents who are “detractors” (responding “0=not at all likely” through “6”). 6. Direct Economic Impact to TOV per Attendee-Day This measure is calculated from survey data, and represents the product of per capita daily spending in Vail, the importance of the event in driving the decision to visit Vail (converted to a 0-100% scale), and stays beyond the event timefame (in the case of overnight visitors and seasonal residents staying in Vail). Expenditures made outside of the Town of Vail are excluded (e.g. lodging spend by overnight visitors not staying in Vail is excluded). Town of Vail residents are assumed to generate $0 in incremental economic impact, insofar as it is assumed they would spend money in Vail at another time or place if the event did not take place. “Economic impact” differs from “gross visitor expenditures”, insofar as economic impact excludes expenditures taking place outside of Vail, and economic impact takes into account the importance of the event in the decision to visit and stays beyond the event timeframe. It should be noted that the economic impact calculation only includes economic impacts associated with visitor spending during or around the event timeframe. Other categories of economic impact are excluded, including economic impacts associated with event production and staging, and the economic value of media exposure associated with the event. 7. Overnight Visitor Profile These data points profile overnight and seasonal residents only. These are results to survey questions asked only of these two visitor segments. 8. Overall Visitor Profile This shows key demographic variables probed on the survey, for all visitor segments combined.