HomeMy WebLinkAbout01. 2022 Operating Plan 8.30.21VLMDAC SPECIAL MEETING
AUGUST 30, 2021
Agenda
•2022 Strategic Plan & Budget (60 minutes), All Partners
•Other Business
•Adjournment
•VLMDAC Executive Session pursuant to: 1) C.R.S. §24-6-402(4) (e) -to
determine positions, develop a strategy and instruct negotiators, Re: 2022
VLMD Budget (60 minutes)
2022 Proposed Operating Plan
2022 Proposed Budget
2022 Revenue Projection $3,555,000
Annual Marketing Budget $3,555,000
Initiatives Using Reserves $504,240
Contingency-Destination Stewardship Plan $100,000
Contingency $130,760
Total VLMD Budget for 2022 $4,200,000
Decrease in Fund Balance $649,000
The proposed budget will use $649,000 of fund balance. The 2022 projected ending
fund balance is $926,786, 25% of annual revenues.
2022 Proposed Budget
Expenditure Increase:
+ 7.6% from 2021
+ 15.6% from 2019
46%
Drive Visitation
Overnight &
Out-of-State
Visitation
54%
Strategy
Branding
Research
Database
Photo/Video
Fees
14%Web/CRM/Social
5 %Public Relations
12 %Groups
2 %International
22 %FR Overnight
46% Destination
Drive VisitationFull Budget
37%
Drive Visitation
Overnight &
Out-of-State
Visitation
63%
Strategy
Branding
Research
Database
Photo/Video
Fees
19%Web/CRM/Social
9 %Public Relations
13 %Groups
3 %International
11 %FR Overnight
41% Destination
Drive Visitation
27%Trad
73%
Digital
Media TypeFull Budget
2021
Budget Breakout
2022
Budget Breakout
19%Trad
81%
Digital
Media Type
Historic Budget Breakout
by Category
/ DSP
Guest
Trad
Media Digital / Social
PR / Influencer
Website
Intl
Assets / Content
Hotel
Booking
Book
Direct
Hotel
Booking
Direct
Groups
BookingWelcome Center
Events
Town-
owned
Exp
Lodging
Retail /
Rest.
Mt / VR
WOM
Social
Survey
Email
Database
Loyalty
BookingIn-Market
Dreaming / Considering
Traditional Media
Digital / Social
Website
PR / Influencer
International
Assets / Content
Hotel –BookDirect
Hotel –Direct with property
Groups-Booking
Welcome Center
Events
Town -owned Experience
Lodging
Retail / Restaurants
Mountain / VR
1:1 Direct Marketing
Database
Loyalty
Email
Post Trip / Sharing
Survey
Social
Word of Mouth
Consumer Journey
Dreaming
73%
Booking
10%
In-Market
0%
Post
1%
1:1
11%
Contingency / DSP
5%
2021 vs. 2022 Budget Breakout
by Guest Journey2021 2022
Dreaming
53%
Booking
9%
In-Market
2%
Post
3%
1:1
19%
Contingency / Fees
14%
0% Word of Mouth0% Social Media
3% Research / …
2022 Total % Budget
By Guest Journey
Dreaming
57%
Booking
10%
In-Market
6%
Post
5%
1:1
17%
Other
5%
15% Assets / Content
1 % International
7 % PR / Influencer
5 % Website
17 % Digital Media
7 % Traditional Media
0% Hotel –Book Direct2% Hotel –Direct w …
8% Group Bookings
0% Mountain / VR0% Retail / 0% Lodging0% Town Owned 0% Events2% Welcome Center 2% Email
3% Loyalty
13% Database
2% DSP
3% Contingency
9% Fees
Front Range: 30%
Destination: 70%
Front Range: 17%
Destination: 83%
*Initiatives Using Reserves
Start / New KPI Metric Goal Budget
*Create PR and Data acquisition worthy
experiences
-Ad CTR
-Social Engagement
-Media Coverage
-No. of packages purchased
-Industry Benchmark CTRs
-Establish benchmark for social
-12 target media outlets
-1 purchase each
$60,000
*Developing “Life is But a Dream” Experiences
(ie: Dream Pods, dream photo
frames/locations, pop up dream “tents” etc.)
Installation Engagement 100 Social shares
700 QR Code scans
$15,000
*Welcome Center DSP Programming increased visitation
Participation in Programing
5% increase
TBD on tracking this
$90,000
*Conduct in depth consumer interviews Actionable audience insights that advance our
personas
$75,000
*User Generated Content Program Engagement and submissions 30 tier 2 photos $45,000
*Develop Loyalty Program that builds our
relationship with consumers
Sign Up, Visitation,In Market Engagement, Show
Signals of Intent, Demonstrate Brand Values, Increase
Booking Frequency, Increase in-market spend
TBD as program hasn’t been created $125,000
*Email automation and personalization,
content plan
Reduced opt-out rate
Increased open-to-click rate
Increase # of email campaigns and segments executed
25% reduction in opt-out rate
20% increase in OTC rate
20% more campaigns executed YoY
with more than twice the targeted
segments
$76,640
*Community Brand Kick-off, Education and
Incentivization to embrace
Community attendance 40%$10,500
Unallocated / Shift to Contingency $7,100
TOTAL $504,240
Dreaming / Consideration
Start / New KPI Metric Goal Budget
*Create PR and Data acquisition worthy experiences See Dream Trips content detail $60,000
Improve / Enhance KPI Metric
Refine media mix -Decrease all paid media, Decrease
Front Range shifting more to Destination
RODAS for digital
Impressions / reach for Traditional
TBD Dest. Digital: $637k
Dest. Trad: $198K
FR Digital: $128k
FR Trad: $90.5K
Reduce International to align with priorities $56,000
Improve Website engagement and incorporate Life is
But a Dream assets
-Further optimizing Things to Do to drive
seasonally relevant content
-Events Calendar optimization to improve
usability
Time on site
Hot Jar / User feedback
Reach / maintain
1:30-2:00 TOS
Inclusive of $130k
web enhancement
Enhancing web content plan (management, creation,
execution)
SEO Top 5 Inclusive of $130k
web enhancement
Dream Trips
•Program Goals:
–Build Relationship -Capture Data & Engagement/Loyalty
–Brand Stewardship
•Definition / Techniques / Approach / Description:
–Develop three “Dream Trips” to Vail that illustrate one-of-a-kind, over-the-top
vacation experiences.
–Promote through integrated marketing efforts -social, electronic marketing efforts
and PR.
–Each trip also can be given away to drive data capture.
•Ideas:
●Dream Season -In conjunction with Four Seasons.
●Music Package –Exploring a private concert with Edwin McCain or guest conductor during Bravo!
●Dining Package –Exploring a partnership with Nobu Matsuhisa.
●Luxury Backcountry –Package Game Creek & backcountry llama, 10th Mountain overnight.
●Driving Package –Inquiring about Lewis Hamilton’s interest/availability.
Dream Trips
•KPIs:
–Ad clickthroughs
–Social engagement
–Media coverage
–No. of packages purchased
Start / New KPI Metric Goal Budget
Enhanced messaging and inclusion in lodging pre-
arrival (DSP, Toolkit Materials)
Lodging partner
utilization/participation
Number of Lodges participating
Enlist 50% of eligible
Lodges to participate
Inclusive of Lodging
Liaison scope, $48k
Improve / Enhance KPI Metric
Developing booking offers and incentives Redemptions
Lodge Participation
Provide seasonal
promotional
opportunities through
Discovervail.com
Inclusive of Lodging
Liaison scope, $48k
Refine customer journey and understand signals
of intent
-Optimization of how users flow through
the site driving to key goals (data capture
& lodging)
-Optimizing data capture with book>direct
TBD via Google Analytics funnel
report
Establish a baseline and
develop specific YOY
goal
inclusive of $130k web
enhancement
Increase group marketing efforts with CVENT Lead generation & retargeting
advertisements
Increase lead gen by 5%$165,000
Booking / Pre Arrival
Start / New KPI Metric Goal Budget
*Developing “Life is But a Dream” Experiences
(ie: Dream Pods)
See Dream Pod detail on following
slides
$15,000
*Event Activation Staffing and Materials Attendee engagement / Data
collection
30% increase of trip
giveaway sign ups
$9,000
*Welcome Center DSP Programming Participation in Welcome Center
Programing and increased visitation
$90,000
Improve / Enhance KPI Metric
Ambient programming to better align with
VLMD goals by taking in house (TOV)
Inclusive of TOV fee, $25K
Events contract structure to better align with
VLMD goals
Increased data collection from
events
30% increase in
giveaway sign-ups
Inclusive of TOV fee, $25k
Alignment with VR on content and promotions Increased partnership and
collaboration on events/programing/
content
Enhanced content on
vail.com
Inclusive of TOV fee, $95k
In-Market
Dream Experiences
•Program Goal: Incorporate Life is but a Dream campaign into in-resort experience
•Definition / Techniques / Approach / Description:
-Option 1: Purchase and install hanging chairs on TOV property and brand them as
dream pods, encouraging guests to take a moment to #DreamVail
-Have tasteful signage encouraging guests to learn more about “DreamVail”
-Option 2: photo op zones with dream messaging/art
-Option 3: Pop-up ‘dream tents’
•KPI
-100 Social shares
-700 QR Code scans
Welcome Center
•Program Goal:
-Guest DSP education
-Welcome Center visitation increase
-Guest data capture
•Definition / Techniques / Approach / Description:
•Ideas:
-Use 2021 In-Market Enhancement Plan to
-Incorporate Walking Mountains Educational Programing
-Continue DSP quiz promotion
-Create DSP / Love Vail informative, interactive installations
-Print
•KPI
-5% visitation increase to Welcome Centers
-Guest participation in Educational Programing
Start / New KPI Metric Goal Budget
*Conduct in depth consumer interviews Actionable audience insights
that advance our personas
$75,000
*User Generated Content Program Engagement and submissions 30 Tier 2 photos $45,000
Post Trip / Sharing
User Generated Content Program
•Program Goal:
-Brand Stewardship
•Definition / Techniques / Approach / Description:
-Generate asset options by calling on local photographers to capture assets
following the new brand asset direction/guidelines, with the possibility of the
VLMD purchasing these assets for unlimited use in our Marketing/PR efforts
•Ideas:
-Reach out to local photographers directly with phone/email
-PR/Marketing/Social campaign reaching out to local photographers
-Provide complete creative direction to ensure submitted shots follow guidelines
•KPI
–Acquire at least 30 images with 10 winter focus, 20 summer/fall
1:1 Direct Marketing
Start / New KPI Metric Goal Budget
*Develop Loyalty Program that builds our
relationship with consumers
See Loyalty on following
slides
See Loyalty on following
slides
$125,000
Improve / Enhance KPI Metric
*Email automation and personalization,
content plan
Reduced opt-out rate
Increased open-to-click
rate
Increase # of email
campaigns and segments
executed
25% reduction in opt-out
rate
20% increase in OTC rate
20% more campaigns
executed YoY with more
than twice the targeted
segments
$76,640
Enhancing email and web content plans
(management, creation, execution)
Engagement and asset
quantity
$41,000
Loyalty Program
•Program Goal: The goal of a Customer Loyalty program is to increase engagement and
retention, and eventually drive advocacy. For the Town of Vail, the goal of a Customer
Loyalty program is also to build a direct relationship with visitors that supplements their
individual relationships with town partners.
•Definition / Techniques:
–A Customer Loyalty program is a structured strategy that builds a stronger
relationship between brands and their customers
–A Customer Loyalty program is NOT necessarily a points-for-rewards program.
–Combines use of communication, software, hardware, gamification (in some
cases), commercial incentives, marketing tactics, event planning etc.
–Uses these techniques to drive particular desired behavior. The key for successful
programs is that there is value to the company provided (behaviors, spend, data)
in exchange for value to the customer provided (rewards, benefits, status)
•2022 Approach: Use 2022 to develop and test potential loyalty program components
(incentives) to understand what best drives desired behavior. Longer-term, these behaviors and
incentives can be built into a structured program. Planning will focus first on driving sign up and
visitation.
Loyalty Program
Desired Behavior Benefit
●Sign Up
●Visitation
●In Market Engagement
●Show Signals of Intent
●Demonstrate Brand Values
●Increase Booking Frequency
●Increase in-market spend
●Giveaway (swag)
●Preferred Access (early entry,
exclusive, etc.)
●Added Value / Upgrades
●“Inside” information
●Ease of booking/planning
Loyalty Program
Ideas:
•A/B/C Reward Test: Drive sign up
–Understand lowest possible incentive price with highest perceived value
–Test a variety of incentive types (giveaway, added value, etc) to understand
implementation effort and scalability
•In Market Redemption: Signals of Intent
–Understand if offering an in-market swag item for program sign up can be an indication
of visitation intent.
•Engage and Earn:Emphasize value of content and planning insight
–Provide targeted content where engagement (download, survey response, etc.) can
earn benefits available on trip (access, discount, etc.)
•Sustainability Rewards:Earn value for aligning with sustainability values
–Plant a tree, pick up trash, attend a sustainability event, etc. and earn benefits (access,
discount etc.)
For Feedback / Approval
insert
/ DSP
Other Business