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HomeMy WebLinkAbout09. VLMDAC December Meeting PresentationVLMDAC BOARD MEETING DECEMBER 15, 2022 Agenda I. MONTHLY FINANCIAL REPORT II. APPROVALS •VLMDAC November 17 Minute Approval •Action Requested of Council III. INFORMATION & DISCUSSION UPDATES •Group Sales Update, Kim Brussow, VVP •Research Update, Cactus •Winter Paid Media Results, Cactus •Tier 1/Tier 2/Tactical Assets, Cactus/SITE •2023 Loyalty Program/Bucket List, BAAG, Cactus •Vail Signage Concept, Doug Kessler, Town of Vail •Town of Vail Updates, Mia Vlaar & Jeremy Gross, Town of Vail •Other Business •Appendix MONTHLY FINANCIAL REPORT MINUTE APPROVAL GROUP SALES UPDATE Group Sales Summary - Jan-Nov 2022 2022 Groups On The Books GEOGRAPHICAL % OF GEOGRAPHICAL VERTICAL % OF VERTICAL Colorado 42%Association 25% Southeast 5%Corporate 37% Midwest 12%Incentive 8% West 27%Medical 22% Northeast 13%SMERF 8% Int’l 1% Groups on The Books 2023 & Beyond GEOGRAPHICAL % OF GEOGRAPHICAL VERTICAL % OF VERTICAL Colorado 40%Association 30% Southeast 10%Corporate 20% Midwest 13%Incentive 13% West 20%Medical 30% Northeast 14%SMERF 7% International 1% Leads In The Pipeline GEOGRAPHICAL % OF GEOGRAPHICAL VERTICAL % OF VERTICAL Colorado 32%Association 30% Southeast 12%Corporate 41% Midwest 20%Incentive 4% West 16%Medical 18% Northeast 18%SMERF 6% International 2% CVENT Results - YOY Comparison- Jan-Nov Production YTD 2022 YTD 2021 VVP RFPs 255 153 VVP RNs 83,245 37,221 VVP Value $29,376,245 $13,243,764 Vail RFPs 937 678 Vail RNs 242,880 149,479 Vail Contracted RFPs 166 122 Vail Contracted RNs 20,591 12,935 Vail Contracted Value $9,238,190 $5,407,716 Meetings & Events Incentive Rebate •As of October 31, 2022, the program received 316 applications. •178 applications approved for total of $3,805,947 in rebates. •Eagle County (35) is still second to Denver (70 approved) in approved applications. •$4,669,053 still available. •Program is good through June 30, 2024 or until funds have been expended. Meeting Industry Trends •Planners planning to book more and more events •Increase in attendees for the first time since pre-pandemic •Return on time/investment/quality of events, despite rising costs •Social activism will play a big role on how meetings are planned & venues selected - social consciousness •Hybrid event capability - leverage technology •Refocus on and prioritize health & wellness activities •Leisure destinations are more attractive than metro areas •Virtual reality making event planning easier/more efficient - 3D video tours of properties and destination •Seeking special venues, outdoor events, unique settings New Groups & Meeting Website Content RESEARCH UPDATE OBJECTIVE & AREAS OF INQUIRY (Full report in Appendix) We engaged in a rigorous qualitative research study to get in front of our guests. We seek to better understand their travel decision making cycles, their experience in market, and how we can use that to better inform not only our creative and comms, but also destination development efforts. OBJECTIVE Understand why our guests are coming to Vail in the summer, what steps they take to plan their trip, and how their experience is once they’ve arrived. Digital Ethnography •18 guests recruited in partnership with Mark and Vail lodging partners •Process: 4 video diary entries – 1 pre-trip, 2 mid-trip, 1 post-trip; capture 5-10 photos with captions mid-trip of vacation milestones. •Platform: Recollective In-Depth Interviews •Process: Follow-up interviews with participants to explore themes identified in the mobile video ethnography. •Platform: Video call This research allowed us to see the Vail experience through the eyes of our guests. This study focused on understanding our guests’ experiences through the entire journey. How and why our guests chose to visit Vail in the summer, what their travel party looks, other destinations they considered, what they are excited about, familiarity with marketing, and how the booked. Identify the most memorable experiences in their vacation, from the more epic adventures to the small moment, discover areas of friction during their experience. If and why they would return and recommend a summer vacation in Vail,how their Vail experience did or didn’t live up to their expectations, timeline and process for planning their next trip. PRE-TRIP PLANNING Before deciding on Vail, many guests were simply just looking to take a vacation where they could explore a new destination. While these guests knew they wanted to take a trip, most did not go in planning to come to Vail. These guests only fell for Vail after researching the potential experiences they could have in town. After getting their plans set, first timers and repeat visitors alike were able to get in vacation-mode and get excited for the coming trip. Q: What are you most looking forward to while in Vail? In summary, there are three primary stages of pre-trip planning. When thinking of guests’ travel decision making cycle, we see that While planning may start with logistics, it quickly becomes whimsical. EARLY TRIP IMPRESSIONS After settling in, our guests hit the ground running, finally getting to partake in the experiences they had been planning for months. Q: Now, upload your favorite picture taken from today. What was special about this picture? Please describe the experience you captured in this picture. What stood out about the moment that this picture was taken? How did it make you feel? Etc. Many participants went out on their planned outdoor adventures to experience the beauty of Vail they had been pinning to see. Q: Now, upload your favorite picture taken from today. What was special about this picture? Please describe the experience you captured in this picture. What stood out about the moment that this picture was taken? How did it make you feel? Etc. Others enjoyed getting to celebrate special moments with their friends and family in a beautiful setting. Q: Now, upload your favorite picture taken from today. What was special about this picture? Please describe the experience you captured in this picture. What stood out about the moment that this picture was taken? How did it make you feel? Etc. After completing their activities, guests were left feeling relaxed and rejuvenated. When thinking of guests’ travel decision making cycle, we see that Their early trip is primarily filled with commitments they could relax after completing. LATE TRIP ATTITUDES Q: If you had to describe your trip to Vail in one picture, which would you choose? While our guests were busy getting settled in and attending to their plans early in their trips, later in their stay they had the opportunity to explore new experiences. Q: If you had to describe your trip to Vail in one picture, which would you choose? While guests had explored outdoor activities earlier in their trip, as their time in Vail went on they became more and more adventurous. Our guests adventures were not limited to the trails, as they were surprised by all of the experiences they could have right in town. Q: If you had to describe your trip to Vail in one picture, which would you choose? These unplanned experiences were the cornerstone on our guests whimsical trips to Vail. When thinking of guests’ travel decision making cycle, we see that While guests planned much of their trip, the unplanned experiences charmed them. POST TRIP REFLECTION As we followed up with guests we found that there was a deeper connection formed on their trips that goes beyond the plans and activities… They were charmed by the quaintness and European experience that sets Vail apart from other destinations. They were moved by the natural beauty they experiences in and around Vail. But most importantly, their experience in Vail was magical. When thinking of guests’ travel decision making cycle, we see that Upon reflection, guests connected to the Vail experience, not the experiences in Vail. In Behavioral Psychology, this phenomenon is known as The Peak End Rule: where we judge an experience based on how they felt at the peak moments, as well as how they felt at the end. WINTER PAID MEDIA RESULTS Winter Paid Media Results Paid Media to support early season winter lodging ran from 11/8 to 12/4. The campaign utilized display, paid search, and paid social media to reach Front Range guests with a “Find Dream Lodging Deals” CTA. Media resulted in $370K in hotel revenue, though we are unable to tell how much of this is specific to early season. Hotel Revenue Hotel Searches Hotel Bookings $370K 11K 301 Net Spend Impressions Media ROI $94K 16M $4 Clicks to Book Direct 49K Winter Paid Media Results (continued) Channel Breakdown ●Similar to what we saw in the summer campaign, Paid Search and Paid Social were the most efficient drivers of traffic to the Book Direct portal ●Programmatic display targeted to Colorado skiers saw a CTR above industry benchmark (0.16% vs 0.08%) Ads targeted to Colorado.com site visitors saw a higher booking rate, likely because these visitors are in a planning mindset. Out-of-state visitors of Colorado.com saw a higher CTR (0.10%) compared to Front Range visitors (0.07%) ●CTR for Paid Social ad (0.79%) was slightly higher than summer Paid Social CTR (0.77%), but below travel industry benchmark (0.90%) Winter Paid Media Results (continued) Paid Social is the only channel that featured multiple creatives. Ads speaking to Vail’s 60th Anniversary did not perform as strongly as ads speaking to same day spa, restaurant and lodging reservations. For future winter lodging activations, we’d recommend highlighting a unique offer that gives a more specific reason to book early season. Social Version 1 (0.84% CTR) Social Version 2 (0.74% CTR) Winter Campaign Results (continued) Winter Campaign Results (continued) Winter Campaign Results (continued) Winter Campaign Results (continued) Winter Campaign Results (continued) Winter Campaign Results (continued) Winter Campaign Results (continued) CACTUS / TIER 1 & 2 TIER 1 TIER 1 TIER 1 TIER 1 TIER 1 TIER 1 TIER 2 TIER 2 TIER 2 / SPA / CACTUS TO SHARE VIDEO TIER 2 TIER 2 TIER 2 / STYLE / CACTUS TO SHARE VIDEO TACTICAL ASSETS Fall Tactical Asset Acquisition OBJECTIVES •Fill needs in asset library, specifically focused on Fall •Shoot specific assets to support website, blogs, email content EXECUTION •Jack Affleck shot; pre-production Delphine •Mix of professional and local talent Fall Family Patio Meal Fall Family Creek Play Fall Family Leaf Play Fall Friends Hiking Fall Family w/Toddler Hike Fall Family Bike Path Friends Shopping 2023 LOYALTY PROGRAM/BUCKET LIST Personalized Bucket List Campaign Goal: To create a campaign that provides engaging and unique personalized content to potential Vail visitors in exchange for in-depth customer data that can be used for future targeted marketing Campaign Approach Bucket List Brainstorm Brainstormed ~100 bucket list ideas across four categories Bucket List Brainstorm Next Steps: •Board opportunity to provide feedback and new ideas (https://docs.google.com/spreadsheets/d/1T-pw-MWfkd6UqiabDWVi3vsu7mKC4-hEj3p0losdRz U/edit#gid=237081503) [Phase 2 tab] •Email Bob (bob@brown-analytics.com) and Heather (heather@cactusinc.com) with feedback by 12/23 •Finalize list of 50 items for content development Bucket List Content Pineapple Digital developing 50 website content pieces to support the campaign •15 new pieces •35 rewritten pieces based on current content on DV.com •Need to be rewritten to avoid duplicate content on site (bad for SEO) •Average length of 150 words per content piece •Targeted completion 01/15/2023 Next Steps •December/January •Finalize content list (50 items) •Develop content pieces •Finalize content parameters •Develop questionnaire •January/February •Web experience development •Develop plan for marketing rollout •Develop plan for data capture and flow-through •Testing and launch via owned channels VAIL SIGNAGE CONCEPT •See Presentation in Packet Thank you! Upcoming Meetings: VLMDAC Monthly Meeting, January 19, 2023; Grand View Room APPENDIX RESEARCH UPDATE OBJECTIVE & AREAS OF INQUIRY We engaged in a rigorous qualitative research study to get in front of our guests. We seek to better understand their travel decision making cycles, their experience in market, and how we can use that to better inform not only our creative and comms, but also destination development efforts. OBJECTIVE Understand why our guests are coming to Vail in the summer, what steps they take to plan their trip, and how their experience is once they’ve arrived. Digital Ethnography •18 guests recruited in partnership with Mark and Vail lodging partners •Process: 4 video diary entries – 1 pre-trip, 2 mid-trip, 1 post-trip; capture 5-10 photos with captions mid-trip of vacation milestones. •Platform: Recollective In-Depth Interviews •Process: Follow-up interviews with participants to explore themes identified in the mobile video ethnography. •Platform: Video call This research allowed us to see the Vail experience through the eyes of our guests. We Engaged With A Variety Of Guests Visiting Three Different Vail Lodges. This study focused on understanding our guests’ experiences through the entire journey. How and why our guests chose to visit Vail in the summer, what their travel party looks, other destinations they considered, what they are excited about, familiarity with marketing, and how the booked. Identify the most memorable experiences in their vacation, from the more epic adventures to the small moment, discover areas of friction during their experience. If and why they would return and recommend a summer vacation in Vail,how their Vail experience did or didn’t live up to their expectations, timeline and process for planning their next trip. PRE-TRIP PLANNING These guests went to vail for a variety of different types of trips, which demonstrates the broad range of experience vail offers guests. Whether they are die-hard Vail loyalists, or had commitments in town, for some, Vail was a no-brainer. These guests were familiar with Vail, and immediately had plans lined up after booking their trip. But before deciding on Vail, many guests were simply just looking to take a vacation where they could explore a new destination. While these guests knew they wanted to take a trip, most did not go in planning to come to Vail. These guests only fell for Vail after researching the potential experiences they could have in town. Hear it straight from the source as our guests elaborate on the decision making process and planning to come to Vail. Q: In a 60-second video, tell us about how you made your plans for the trip. Why did you decide to come to Vail? Did you consider going anywhere else instead? Did you get any recommendations or read any reviews before booking? Where did you book your trip? Etc. After getting their plans set, first timers and repeat visitors alike were able to get in vacation-mode and get excited for the coming trip. Q: What are you most looking forward to while in Vail? In summary, there are three primary stages of pre-trip planning. When thinking of guests’ travel decision making cycle, we see that While planning may start with logistics, it quickly becomes whimsical. EARLY TRIP IMPRESSIONS While our guests were staying at a variety of different lodges… They were all impressed by their accommodations from the moment they checked in. Q: Please give us a tour of your accommodation (favorite aspects, best places to hangout, where you find yourself relaxing, etc.) While we have a full analysis of each property in the lodging partner addendums here is a quick sample of what our guests had to say about their accommodations. After settling in, our guests hit the ground running, finally getting to partake in the experiences they had been planning for months. Q: Now, upload your favorite picture taken from today. What was special about this picture? Please describe the experience you captured in this picture. What stood out about the moment that this picture was taken? How did it make you feel? Etc. Many participants went on their planned outdoor adventures to experience the beauty of Vail they had been pinning to see. Q: Now, upload your favorite picture taken from today. What was special about this picture? Please describe the experience you captured in this picture. What stood out about the moment that this picture was taken? How did it make you feel? Etc. Others enjoyed getting to celebrate special moments with their friends and family in a beautiful setting. Q: Now, upload your favorite picture taken from today. What was special about this picture? Please describe the experience you captured in this picture. What stood out about the moment that this picture was taken? How did it make you feel? Etc. Finally, some guests just enjoyed getting to see the town for themselves, rather than in pictures. Q: Now, upload your favorite picture taken from today. What was special about this picture? Please describe the experience you captured in this picture. What stood out about the moment that this picture was taken? How did it make you feel? Etc. After completing their activities, guests were left feeling relaxed and rejuvenated. When Thinking Of Guests’ Travel Decision Making Cycle, We See That Their early trip is primarily filled with commitments they could relax after completing. LATE TRIP ATTITUDES Q: If you had to describe your trip to Vail in one picture, which would you choose? While our guests were busy getting settled in and attending to their plans early in their trips, later in their stay they had the opportunity to explore new experiences. Q: If you had to describe your trip to Vail in one picture, which would you choose? While guests had explored outdoor activities earlier in their trip, as their time in Vail went on they became more and more adventurous. Our guests adventures were not limited to the trails, as they were surprised by all of the experiences they could have right in town. Q: If you had to describe your trip to Vail in one picture, which would you choose? While some guests stayed true to their old favorites, many were impressed by the variety of fresh flavors they found in Vail. Our guests entered the trip excited about the beautiful outdoor scenery, But left enchanted with the excitement that the town of vail provided. These unplanned experiences were the cornerstone on our guests whimsical trips to vail. Hear it straight from the source as our guests elaborate on the unexpected moments and experiences that charmed them. When Thinking Of Guests’ Travel Decision Making Cycle, We See That While guests planned much of their trip, the unplanned experiences charmed them. POST TRIP REFLECTION When reflecting on their experience in Vail, a Vast majority of guests reported that their trip exceeded their expectations. When asked to give recommendations on how others could best experience Vail’s charm and wonder, they initially defaulted to activities and plans. Guest’s were quick to recommend their favorite activities, restaurants and sights to see in Vail. Many guest’s recommended their friends and family to take a gondola ride, check out the in-town offerings, relax and rewind at a spa, and to just soak in the surroundings. Hear it straight from the source as our guests explain all of the thing to do and see in Vail as if they were talking to a friend. But as we followed up with guests we found that there was a deeper connection formed on their trips that goes beyond the plans and activities… They were charmed by the quaintness and European experience that sets Vail apart from other Destinations. They were moved by the natural beauty they experiences in and around Vail. But most importantly, their experience in Vail was magical. When Thinking Of Guests’ Travel Decision Making Cycle, We See That Upon reflection, guests connected to the Vail experience, not the experiences in Vail. In behavioral psychology, this phenomenon is known as The Peak End Rule: where we judge an experience based on how they felt at the peak moments, as well as how they felt at the end.