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Home My WebLink About11. VLMDAC January Meeting PresentationVLMDAC BOARD MEETING JANUARY 20, 2022 MEETING EXECUTIVE SUMMARY Agenda I.SWEARING IN OF NEW BOARD MEMBERS (5 minutes), Stephanie Bibbens, Town of Vail II. BOARD DECISIONS/APPROVALS III. INFORMATION & DISCUSSION UPDATES •Monthly Financial Report (5 minutes), Carlie Smith, Town of Vail •Group Sales Review (15 minutes), Kim Brussow, Vail Valley Partnership •2022 Planning Update (35 minutes), Cactus •Campaign Production Updates (15 minutes), Cactus •Dashboard Review (15 minutes), Cactus •Town of Vail Updates (5 minutes), Mia Vlaar & Jeremy Gross, Town of Vail •Other Business IV. MINUTES •VLMDAC December 16 Minute Approval •Action Requested of Council Adjournment to VLMDAC Executive Session - VLMDAC Executive Session, pursuant to: 1) C.R.S. §24-6-402(4) (e) - to determine positions, develop supplemental strategy and instruct negotiators (60 minutes) MONTHLY FINANCIAL REPORT GROUP SALES REVIEW 2021 Lead Generation ●Cvent RFPs ○20% of total leads being copied to VVP ○RFP’s for both VVP & Vail are ahead of pace YOY ○81% of all “Vail Valley” RFP’s are going directly to Vail ●Overall Lead Generation up 10.7% from 2019 ●Pipeline 39% above pace from 2019 ●Key groups in the pipeline ○PMG Employee Event - Apr 2022 - 1,655 RNs ○Triple Crown World Series - Jul 2022 - 2,000+ RNs ○Tony Robbins - Oct 2022 - 1,176 RN’s and Feb 2023 - 2,608 RNs ○Nat’ Brotherhood - Feb 2023 - 2,611 RNs ○Colorado GovCon - Nov 2023 - 560 RNs (last in Vail in 2018) ○SOMOS - Dec 2023 - 1,240 RNs (repeat from 2018 at Hythe) ○Encova - Jun 2024 - 1,037 RN’s *Please reference full report in packet materials Travel Trends ●Deja vu in Jan 2022 - although planners seem to be more confident that group travel will be strong again by Spring ●Back to nature again - with new emerging virus strains, people are once again bringing meetings back to mountain destinations ●Bleisure - blending business with leisure ●Purposeful meeting experiences - sustainable, CSR, diversity ●Event App Technology/Hybrid/Virtual Meetings are here to stay ●Millenials are top attendee demographic - networking vs. goods, experiences, tech savvy, social media ●Health & wellness still top priority ●Less flexibility with cancellations/rebookings ●Airlines & hotels affected by staffing levels - price increases/services Group Sales Strategies ●What surprises you most in the monthly VVP group sales reports? ●Is there anything else that I can provide that would be helpful? ●How do we turn group attendees into leisure travelers? ●Marketing Opportunities ○Enhance group content on DiscoverVail.com ○Create a village-wide proposal/marketing link ○Destination CO website content/RFP link ○Continued CVENT marketing/video retargeting ●Changes in the marketplace ○Smaller groups, less rooms, shorter duration on length of stay in 2021 ○Starting to see longer term, larger leads for 2022 & beyond ○Increase in leads from West coast (CA/TX), uptick in Incentive groups ●Any other ideas/thoughts/concerns? 2022 PLANNING UPDATE AUDIENCE Based on findings from the database and 2021 results, we recommend shifting to a higher net worth audience in 2022, with an emphasis on destination families and destination empty nesters. These audiences are heavy travelers and with the right targeting and marketing approach, we will ensure that Vail is strongly in their consideration set for summer travel. *Please reference full audience findings in packet materials. Audience Findings MEDIA APPROACH 2021 Media Recap In the packet materials you will find a detailed 2021 report that outlines key findings from the VLMD 2021 media efforts. Adara highlighted that families continue to be our most lucrative audience, buying more room nights and additional rooms per trip (5.1 nights per trip, $501 average daily rate). We also saw that in destination, our family audience was by far the most engaged when it came to VLMD advertising. Being present with our HNW audience early (especially families) in the journey will be paramount towards us driving additional success if 2022. Almost half of all bookings visited Discovervail.com prior to making a final purchase and we aim to build on that success. Redefining the Role of Media in 2022 According to Adara, consumers spent over $12M on hotel bookings after seeing a VLMD ad in 2021. We want to increase that. In order to do so, we must redefine our key performance indicators, refine our targeting so we are more honed in on our best prospects, and optimize the media mix to ensure we inspire our prospects when they consume media. Refocusing Media KPIs In the past KPIs for paid media have been loose; while we report on Adara revenue, there are only minimal ways that we can optimize towards that metric. In 2022, we want to drive consideration early in the planning process and be held accountable towards that. ●Shift away from Adara revenue as main paid media KPI ●New Qualified Traffic KPI allows media to focused on driving engaged consumers to the site ●Rely on OTAs and travel partners to drive final booking Refined, Honed-in Targeting ●Shift to targeting HNWI (with an emphasis on Families) and buyers of luxury brands ●Expand Destination markets to include more HNW geos (NYC, San Francisco, LA, DC) ●Keep Front Range buy very focused on events and active demand; allocate more spend to reaching higher value guests in Destination markets Test and Optimized Media Mix for Luxury Dreaming ●Inspire guests through high impact mediums such as connected TV, social stories, and interactive display media ●Amplify thematic content (i.e. upscale dining) via in-feed paid social & native ●Highlight Vail’s elevated experiences on premium publications with custom content ●Decrease investment in lower funnel tactics focused on conversion, such as brand SEM and retargeting Always-On Plan Flighting Based on Planning Stages 2021 had pulses for each audience, with little differentiation on seasonality or consumer planning stages 2022 will have always-on media for each segment, with differing tactics based on vacation planning stages, complemented with “reminder media” to help enhance dreaming messaging Key Changes in 2022 Loose; reported on Adara RODAS but with little way to optimizeKPIs Targeting Media Mix Flighting Roughly equal focus on three segments, 66% destination Traditional digital media, fragmented tv/radio buys Different flighting based on different targets, dark periods for each audience Inspire through more impactful, unique media placements for luxury dreaming New Qualified Traffic and CPQT KPI drives better consideration Honed-in on best audience (destination HNW families), minimized Front Range spend Always-on March-September plan, changing priorities throughout the year based on planning stages CAMPAIGN UPDATES Updates •Final revised :30 •:15 cutdown •Cinemagraphs (1-2) •:06 Drone clips to be used in social or website background •Tier 2 image selects and retouching •Building out the rest of the assets needed per 2022 media recommendation *Video will be shown at meeting DASHBOARD REVIEW VLMD Dashboard Purpose: •To create a central place to view and monitor business, marketing, and user experience metrics as it relates to our yearly goals Tiered Data Metrics: •Business Metrics: Town of Vail business KPIs (Sales Tax, Lodging Tax, NPS) •Marketing Metrics: High-level KPIs that monitor the marketing efforts (database metrics, guest engagement metrics - web metrics) •Consumer Journey Metrics: Granular KPIs that measure the effectiveness of the consumer experience (web metrics, PR metrics, content & SEO metrics etc) 2022 Marketing Priorities Build the Relationship: ●Capture Data: Enable the building of a direct relationship with more visitors or prospects to Vail through growth in breadth (# of records) and depth (amount of information per record) of our owned customer database. ●Engagement & Loyalty: Enhance personalized comprehensive customer journey from dreaming through reminiscing to drive engagement, and ultimately foster and reward loyalty to Vail. Brand Stewardship: Positioning Vail as the Premier International Mountain Resort Community and define, support and deliver on the brand in working with partners with the shared brand with Vail Resorts, businesses and lodging and community at large. Optimize Visitation: Target the right customer to maximize longer stays and higher spend while distributing visitation to lower-demand (off peak) time periods and balance guest acquisition and return visitation. Destination Management Leadership: Ensure tourism adds value to the Vail guest and resident community, while protecting and sustaining our natural assets and resources. Partner Operations: Operate more efficiently and effectively with a long-term marketing personalization and customer analytics plan and vision that all VLMD partners are aligned with and accountable for. Analytics, to be used to continuously optimize and improve. Collaboration tools that drives insight and efficiency. Build the Relationship: Grow Database ●Total Customer Records ●Contactable Customer Records ●% Contactable ●% of Records with Demographic Data ●% of Records with Name Build the Relationship: Guest Engagement + Loyalty ●Site Sessions ●Total Users ○Repeat Users ○New Users ●Pages per Session ●Bounce Rate ●Time on Site ●# of Trips to Vail VLMD Dashboard / Metrics Optimize Visitation: Overall ●Occupancy (comparison from Destimetrics, AirDNA and Adara) ●ADR ●RevPAR ●Seasonal Trends Optimize Visitation: Understand our Audience ●Average Party Size ●Length of Stay ●In Market Spend (some point in future) ●NPS VLMD Dashboard - Progress Overview of Marketing Metric View ●metrics will be added each month ●percent to goal is easily visible ●dashboard will continue to be built out w/ more data points & views VLMD Dashboard - Progress VLMD Dashboard / Timing •Google Analytics data/base dashboard - complete •SEMRush/Active Campaign - WIP (working through data connections) •Begin linking additional datasource options - starting 1/14 •Refine dashboard & desired visualization of data - starting 1/21 –Discovery conversations to continue on granular data pulls starting week of 1/17 •All data sources implemented for March board meeting TOWN OF VAIL UPDATES Thank you! Adjournment to VLMDAC Executive Session VLMDAC Executive Session, pursuant to: 1) C.R.S. §24-6-402(4) (e) - to determine positions, develop supplemental strategy and instruct negotiators (60 minutes) Upcoming Meetings: VLMDAC Monthly Meeting, February 17, 2022; In Person at Grand View Room / Virtual Via Zoom APPENDIX AUDIENCE Previous Media Personas FY22 Database Analysis Building on our summer wifi-gate import, we were able to upload a significantly larger database based on summer visitation. This new list resulted in 31k matched users in Viant’s Identity Management Platform (IMP) and upload into Resonate via LiveRamp. Biggest Finding: More Wealth Based on findings from the database and 2021 results, we recommend shifting to a higher net worth audience in 2022, with an emphasis on destination families and destination empty nesters. These audiences are heavy travelers and with the right targeting and marketing approach, we will ensure that Vail is strongly in their consideration set for summer travel.