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Home My WebLink About053. VLMD 2023 Input, Partner Briefing Document1 CREATIVE ACTIVATING OUR VISION. VLMD 2023 Input PARTNER BRIEFING DOCUMENT // 12.15.22 2 Develop a full year (January - December ’23) plan to drive consideration for Vail as a top vacation destination. Plan will need to encompass paid, earned and owned deliverables across the partner ecosystem. Specific deliverables are included at the end of this document. THE ASSIGNMENT What do we need to create: 3 Goals & Priorities 4 GOALS & PRIORITIES Business Goals May - Oct Timeframe 2019 Results 2020 Results 2021 Results 2022 Forecast 2023 Preliminary Budget 2023 Proposed Goals for discussion Sales Tax $9,853,122 $8,889,947 $13,674,538 $13,725,135 $12,627,712 Flat to 2022 Lodging Tax $931,499 $827,522 $1,482,956 $1,421,808 $1,286,426 Flat to 2022 Occupancy 45.0%30.3%45.1%44%NA 45% Group Occupancy 24.7%4.3%14.7%20%NA 25% Drive responsible revenue growth in Vail by focusing on quality guest, length of stay and guest spend, while effectively communicating community values. Key Performance Indicators (KPIs) include lodging occupancy and average daily rate and lodging and sales tax revenues with a focus on mid week and lower demand time periods. 5 Optimize Visitation: Maximize longer stays and higher spend, gain greater understanding of customer through research. Grow Database & Build Relationship: Use data to understand our guest to enhance engagement and loyalty. Destination Stewardship: Protecting and sustaining our natural environment and attractions while elevating the guest and resident experience. (NOTE: DSP should be finalized in March ’23 for integration into plans) Brand Positioning: Position Vail as the Premier International Mountain Resort Community and work with community partners to define, support and deliver on the brand. Marketing Priorities GOALS & PRIORITIES 6 Strategy 7 LUXURY TRAVEL IS ON THE RISE. *Globaldata Travel and Tourism: Increase in high-net-worth individuals bodes well for luxury tourism. **Luxury Travel Advisor: STATS: 85% of luxury travelers believe in using travel advisors STRATEGY At a macro level,Over the course of 2021 LUXURY HOTEL REVENUE INCREASED BY 147% YOY compared to only 42% YoY increase in U.S. budget hotel revenue.* In a survey of luxury travelers 72% ARE SPENDING MORE ON THEIR VACATIONS than they did before the pandemic.** 8 *American Express Travel: 2022 Global Travel Trends Report TRAVELERS ARE NOT JUST LOOKING FOR ANOTHER VACATION THEY WANT TO GO ON THEIR DREAM TRIP. STRATEGY Moreover,In a survey of travelers 55% WANT TO BOOK A ONCE-IN-A-LIFETIME VACATION in 2022 65% WOULD RATHER TAKE THEIR DREAM VACATION than purchase a new car* 8 9 Repetitive messaging around adventure and activities have made mountain destinations indistinguishable in consumers’ eyes. “Defy Ordinary”“Stay Wild”“Thrill Runs Deep” “The Brighter Side”“Gateway to Adventure”“The Most Colorado Place on Earth” “Go Breck” MOUNTAIN DESTINATIONS ARE COMMODITIZED BY PARITY. STRATEGY But within our category, 10 TRANSCEND THE SEA OF SAMENESS BY STANDING FOR SOMETHING MORE… STRATEGY Vail’s opportunity is to Vail is magical. Vail is romantic. - Jim D. VAIL’S UNRIVALED BLEND OF WILDERNESS AND WORLDLINESS IS THE SECRET BEHIND OUR WONDER . 11 I’m most excited to spend time hiking Vail's beautiful trails! - Ellie E. I'm looking forward to a spa day at Sonnenalp and all of the restaurants. - Morgan R. STRATEGY 12 CREATIVE ACTIVATING OUR VISION. Audience 13 Based on analysis of VLMD and Epsilon data, 40% VLMD’s database is considered HNW, while only 16% of the total US Population falls into this category Vail guests significantly over-index on a net worth of $3MM+ (329i) 18% of VLMD’s database has a discretionary spending income of $125K-$250K, compared to only 4% of the total US Population HIGH NET WORTH The Core Vail Guest Is Note: We are defining High Net Worth as those with over $1MM in liquid assets of matched profiles are high net worth individuals compared to 16% of general population 40% Source: Epsilon TSP Profile Analysis (June 2022) Percentage from Epsilon consumer data Cactus ©2021 All Rights Reserved. TITLE TEXT HNW Families Top content and apps are sports & business Personal Values: Influence | Stimulation | Pleasure Likes the adventure of traveling, wants to stay busy and active on vacation, usually packs heavy, expects premium amenities and experiences, and believes that loyalty programs ensure good treatment by employees 7-10 leisure trips / year Plans leisure trips carefully, has no problem taking kids out of school to travel, looks forward to spending time as a family and being pampered. Brooks Brothers at the office and Patagonia on vacation, always prestigious brands Enjoys upscale dining while traveling, and while viewing it as a treat, eats at upscale establishments at least once a month. Just got drivers license and mom’s old Lexus Often travels to attend professional sporting events Biggest consideration for lodging is the brand. Just made last payment on the mortgage Cactus ©2021 All Rights Reserved. TITLE TEXTHNW Empty Nesters Many don’t do social media but those that do use: Personal Values: Dependability | Duty | Security Follows seasonal patterns when traveling. Vacations are usually longer than a week. Expects premium amenities and experiences, and believes that loyalty programs ensure good treatment by employees 1-3 international trips / year Avid luxury-seeking domestic travelers (10+/year) that enjoy premium or elite airline and hotel status. Tend to fly United and Sun Country and stay at Marriott or IGH properties. Enjoys upscale dining regularly and expects elevated dining experiences during travel. Watches CNBC & Golf Channel Frequent destinations include Las Vegas, Hawaii & Florida Enjoys stocks trading, golfing and reading. Own at least one vacation home, if not more Primary sources of income are dividends & interest 16 HNW Families HNW Empty Nesters Purpose of Leisure Travel? HAVING NEW EXPERIENCES 168 INDEX ACCOMPLISH BUCKET LIST GOAL 155 INDEX HIGH QUALITY 157 INDEX HIGH QUALITY 133 INDEX Top Travel Product Attribute? OUR AUDIENCES EXPECT TRAVEL EXPERIENCES THAT TRANSCEND THE ORDINARY. Narrowing our target reveals that 17 VAIL ALSO NEEDS TO CULTIVATE RELATIONSHIPS WITH SECONDARY AUDIENCES. While campaign efforts target US HNW’s Younger High-Income Domestic Audiences International Audiences While high net worth individuals have been our primary campaign audience, consider expanding relevant channels to also engage affluent but younger audiences to build consideration and preference for Vail Considered Strategies: Off-peak promotional windows Expanded social efforts Influencers Earned Media Tactics Emerging Platforms (TikTok) Paid campaign efforts have focused domestically based on budget limitations. However, Mexico / Mexico City represents a strong opportunity and campaign assets, PR and direct marketing should be planned. Considered Strategies: Spanish language creative translation + adaptation Localized PR activation Culturally representative talent + visual assets Cactus ©2021 All Rights Reserved. Young High Income Top social media and apps: Personal Values: •Authority •Influence •Achievement Look for travel destinations that can offer luxury experiences and can pamper them with personalized attention and service. $8k-$9k Anticipated Vacation Spending Enjoys traveling to new destination with friends and has create a travel group of those who also appreciate luxury travel experiences. Looks for opportunities to have romantic getaways with their partner. Mexico City Travelers $6k Average International Vacation Spend Care more about enjoying their vacation experience than how much it costs Travel decisions are highly influenced by their family and children Top Influences on Travel: •Rest, relaxation and recharge •Enjoy new experiences. •Spend time with spouse or family. 2-3 trips / year 19 HNW Families HNW Empty Nesters PRIMARY STRATEGY Audience Strategy Young High Income Mexico City Travelers Attract Through Advertising HNW Families + Empty Nesters Engage Through Content Younger high income audiences to build desire and preference Optimize Demand Through Front Range initiatives designed to drive off-peak visitation and last minute travel deals (Denver DMA) Translate + Adapt Assets to appeal to international travelers (Mexico City) SECONDARY 20 Creative 21 CREATIVE FOR CAMPAIGN DETAILS AND STRUCTURE, SEE LINK TO CAMPAIGN GUIDELINES https://3.basecamp.com/5310077/buckets/26394975/uploads/ 5618729812 LINK TO INTELLIGENCE BANK https://discovervail.intelligencebank.com Assets live here: Life is but a Dream unapologetically leans into the town’s heritage and uses the metaphor for how you feel when you’re here to tell the story of Vail as a dream-like experience. When you’re in Vail, the confines of reality are but a suggestion. The air feels fresher. Life feels lighter. And spirits are lifted to a new high. There is something magical happening in this valley. You feel as if you’re the main character in a story. Just take a walk through the village down to the creek, and you’ll understand. It may seem surreal, but trust us, it’s just Vail. There’s no denying that there is something special about this place, as if it exists specifically as a reminder to enjoy life. When you’re here, you have fewer responsibilities, commitments and distractions, and the burdens of life don’t feel so heavy in this mountain air. You feel lighter. It’s easier to relax, fall in love and get carried away. The best way to put it is when you’re here, it feels like Life is But a Dream. LIFE IS BUT A DREAM Introduction to 22 CREATIVE EXAMPLES 23 CREATIVE EXAMPLES 24 CREATIVE EXAMPLES 25 Comms & Media 26 DRIVE SUMMER DEMAND, MOSTLY FROM OUT-OF-STATE STRATEGY 85% 15% Front Range Destination 2022 % OF MEDIA SPEND $0 $75,000 $150,000 $225,000 $300,000 Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2022 MEDIA SPEND BY MONTH In 2022 our media plan worked to Prospect high net worth out-of-state travelers to drive more of the “right” visitation - longer stays, higher rates, higher spend. Use in-state messaging to drive non-peak and low occupancy demand. 27 INTRODUCE THE DREAM + CAPTURE DEMAND STRATEGY Premium TV 0:30 spots in PGA Golf, Tennis, Kentucky Derby, Awards Shows HNW Video CTV + OTT YouTube Preroll Digital OOH Airport Premium Mall Cinema Paid Social Facebook Instagram Display + Native The Trade Desk HNQ Behavioral + Contextual Search Google Brand + Non-Brand Search Houston + Chicago Dallas + Houston + Chicago NYC + SF + DC + Seattle Denver + Chicago + Houston Denver+ Dallas + Houston + Chicago NYC + SF + DC + Seattle Denver+ Dallas + Houston + Chicago NYC + SF + DC + Seattle National As the first year of Life is But a Dream, we sought to Premium visual formats to connect + strong conversion-driving media to generate incremental bookings 13% of Spend 34% of Spend 20% of Spend5% of Spend 15% of Spend13% of Spend CONNECT CONVERT 28 ADARA ROAS + YIELD PER BOOKINGS INCREASED STRATEGY The combination of HNW targeting + out-of-state prospecting worked For the 2022 season, Cactus aimed to increase trip consideration, average daily rate, and length of stay by focusing on HNW individuals in affluent destination markets. As a result, we saw increases in all key Adara Impact metrics YoY. 29 REINFORCING THE DREAM ACROSS THE TRAVELER JOURNEY STRATEGY Shifting to 2023, we want to emphasize INSPIRATION PLANNING CONSIDERATION BOOKING ANTICIPATION 6 Mo 5 Mo 4 Mo 3 Mo 2 Mo 1 Mo EXPERIENCE REMINISCE/SHARE Inspiration starts with stories •Friends, family and co-workers (64%) •Online search (64%) Seeking unique, differentiated experiences Exposure continues Inspiration: •Videos | Online ads | OTAs Validating the destination: •Trip reviews from experts •Trip reviews from peers •Travel Agents •News channels Video & social prompt action: •Where to travel •Visit the website •Intro to the destination or new travel brand •90% of HNWIs take action after viewing a travel video Actively searching and seeking: •Activities specific to interest •Price •Peer and professional reviews •New experiences/foods to try Creating micro-moments: •I want to know - how to •I want to go - near me •I want to book •I want to do Counting down the days •Looking forward to trip Locking logistics •Maps, weather, packing lists, what to wear, Pre+ during trip activity planning •Dining, shopping, golf, hiking, sight seeing, family activity Travel + arrival Culinary experiences •Willing to spend but experience needs to deliver Curated considerations •Want unique experiences and trustworthy recos •Event calendar, etc Planned activities •Seeking unique experiences, some parents/kids-only, some shared Free time + me-time •Unplanned moments, spa and relaxation Dining + discovery •Looking for the hidden gem experiences, signature events and elevated dining Capture and share •Active social sharers 7-10 Trips Per Year Finalizing logistics •Flight, lodging, car, 2 - 3 key activities, reservations Seeking recommendations •Travel agent, peers, online reviews Rewards and status •Credit card points, exclusive memberships, frequent flyers, etc Value, not price, is paramount: •Willing to spend but experience needs to deliver 30 INTEGRATED COMMUNICATIONS FRAMEWORK Extending and Reinforcing the Dream Develop an integrated comms framework to guide the deployment of the Life is But a Dream platform across key paid, owned, and earned media touchpoints. INSPIRATION DREAMING CONSIDERATION BOOKING ANTICIPATION EXPERIENCE REMINISCE/SHARE DISCOVER THE DREAM Drive Brand Distinction + Consideration Define the Vail experience as a magical, dream-like destination for high-net-worth travelers. EXPERIENCE THE DREAM Booking + Experience Enhancement Bring the feeling of The Dream to travelers both before they book/arrive and on-site during their actual visit. KEEP THE DREAM ALIVE Recall + Advocacy Reinforce and remind travelers of The Dream well before and well after their actual travel. CONSUMER JOURNEY CREATIVE EXPRESSION INTEGRATED COMMUNICATIONS TASKS PAID + EARNED: Advertising: Reach-Driving Paid Media Digital: Campaign Landing Page + Content PR: Dream Activations + PR PR + Activations: Dream Partnerships Social: Influencer Dream Experiences PAID + OWNED + EARNED: Advertising: Booking-Driving Paid Media (pros + retargeting) CRM: Pre-travel + Post-booking CRM + Data Capture Social + PR: Social + Owned Content Digital: On-Site Experience Enhancement Tools/Content Partner Engagement: On-Site Experience / Surprise + Delight EARNED + OWNED REENGAGEMENT: Social + Community: UGC + Visitor Social Social + PR: # Campaigns + Social Promotions CRM: Post-Travel CRM Engagement PRIORITY CHANNELS LIFE IS BUT A DREAM 31 Inspiration THOUGHT STARTERS ACROSS THE COMMS FRAMEWORK 32 How do we give guests a flavor of the Dream that is Vail before the ever step foot in town? Our guests made it clear that there is something special about being in Vail. The elevated ambiance, the charming architecture, and the scenic mountains come together to create the perfect Dreamy experience. Key Tactics for Consideration: Brand Content and Paid Media: Create and share content that allow our audience to get a taste of what the town is like. Key Audience Takeaway: Vail seems like a Dream that I have to see to believe. BUILD EXCITEMENT TO DISCOVER THE DREAM. Task 1: 33 Nature’s Masterpiece Discover Moab has created an interactive experience where guests can select a variety of popular Moab destinations and explore 360 images of the area. #VisitCalifornia California tourism uses hashtags to pipe in live UGC content and demonstrate all of the activities guests can enjoy on their trips. Yellowstone Collaboration Visit Montana partnered with the popular series Yellowstone, to promote visitation to the state. BUILD EXCITEMENT TO DISCOVER THE DREAM. Task 1: Inspiration 34 CURATE EXPLORATION TO EXPERIENCE THE DREAM. Some of the best experience that our guests had in Vail were serendipitous moments. While there is no shortage of summer activities (hiking, horseback riding, concerts, farmers markets and more) in Vail, it’s the little moments that stand out. The feeling as a guest that you stumbled in to an amazing experience is what transforms a great trip into a magical memory. Key Tactics for Consideration: Brand Actions and In-Market Engagement: Create educational and entertaining experiences that resonates with our audiences. Key Audience Takeaway: There is a new adventure around every corner in Vail! Task 2: 35 CURATE EXPLORATION TO EXPERIENCE THE DREAM. Task 2: Inspiration Do Colorado Right This statewide tourism campaign provides guests with tips & tricks to maximize their trip and live like a local. First Friday Art Walks Many cities, like Denver have created First Friday events, encouraging guests to explore local businesses and creators in their art district. Nashville #WhatLiftsYou The iconic #WhatLiftsYou mural is a wildly popular photo opportunity and a destination for travelers from around the world. 36 KEEP THE WHIMSICAL DREAM ALIVE. Task 3: While our guests go home after their Vail vacation, the memories they made last forever. After returning home guests are just left to reminisce on their trip to Vail. We have have opportunity to not only reinforce these memories, but also amplify their stories. Key Tactics for Consideration: Earned + Owned Reengagement: Social + Community: UGC + Visitor Social, Social + PR: # Campaigns + Social Promotions, and CRM: Post-Travel CRM Engagement Key Audience Takeaway: When I day dream, I dream about going back to Vail. My expectations were exceeded . Vail was a lot better than I even expected it to be. I loved everything about it. We were there for our babymoon, which was a unique type of visit. But our favorite part was how easy it was to explore and walk around. 37 KEEP THE WHIMSICAL DREAM ALIVE. Task 3 Inspiration: #WanderlustContest National Geographic created a contest encouraging their audience to share their best nature shot using the #WanderlustContest hashtag for a chance at a trip to Yosemite. Capture the Moment Disney Parks allow guests to sign up to have professional photographers capture the highlights of their vacations at the most iconic scenes in the park. Parks Project The Parks Project was created in partnership with the National Park system to encourage guests to support conservation with lines of merchandise that show guests’ support. 38 Deliverables KEY ASSIGNMENTS AND LOGISTICS 39 KEY DELIVERABLES TO DRIVE MESSAGE + MEDIA CONSISTENCY Extending and Reinforcing the Dream Integrated Media Plan Cross-Partner Channel + Content Plan PR & Influencer Plan Updated Social Strategy + Content Plan 2023 Go-to-market + media plan, identifying key audiences, touchpoints, timing and investment levels for paid advertising initiatives. Channel strategy + tactical content plan, identifying roles of each channel along consumer journey, and key content pillars to extend and reinforce Life is But a Dream across paid / owned / earned touchpoints. Resulting briefs, developed based on content + channel plan and delivered quarterly or seasonally, identifying priority content needs and assigning specific deliverables across VLMD partner group. Audit + provide strategic recommendations and content needs to support enhancing Vail’s paid / owned / earned social media presence and infuse Life is But a Dream into social activities. Led by media planning + buying partner, used to inform broader partner group. Ensure integration between paid media and paid influencer/content partnership efforts Collaboration between lead creative + media + content partner, with input from channel-leaders (PR, influencer, social, etc) Collaboration between lead creative + media + content partner, with input from channel-leaders (PR, influencer, social, etc) Led by content + creative partners, in concert with VLMD community manager. Ensure collaboration with PR/influencer efforts Partner Content Briefs Informed by the partner brief, develop an earned media activation strategy and plan, identifying key moments, influencers and angles to both drive discovery of the dream and extend the dream post-trip Led by PR + social partners, and integration with paid media partner to ensure paid/owned/ earned amplification of key moments 40 STRATEGY BRIEF What: Who: How: Where: Continue to activate the Life is but a Dream campaign. •Primary: HNWI, both Families and Empty Nesters. •Secondary: High Income Young Professionals and International Audiences (emphasis on Mexico City) Inspire our audience to move through the journey from Inspiration to Experience •Inspiration + Consideration: Discover the Dream •Booking: Experience the Dream •Experience + Reminisce: Keep the Dream Alive Create touchpoints through the journey from Inspiration to Experience •DISCOVER THE DREAM: Brand Content and Paid Media -Create and share content that allow our audience to get a taste of what the town is like. •EXPERIENCE THE DREAM: Brand Actions and In-Market Engagement -Create educational and entertaining experiences that resonates with our audiences. •KEEP THE DREAM ALIVE: Earned + Owned Reengagement -Social + Community: UGC + Visitor Social, Social + PR: # Campaigns + Social Promotions, & CRM: Post-Travel CRM Engagement Budget:Full partner budget can be accessed at NEED URL 41 Critical inflection points: (who will manage VLMD or Site?) •January board meeting - strategic direction (could be combined with tactical plans in February meeting) •February board meeting - tactical plans •March board meeting - creative executions •May board meeting - first paid media report, creative asset shoot plans •June board meeting - community toolkit rollout •July partner meeting - next year’s planning begins with partners bringing initial budget/ideas to partner meeting •August board meeting - operating plan for following year •November board meeting - final annual report with recommendations •December board meeting - Working / high level annual strategy, brief for partners Timeframe: May-October •Spring - drive anticipation for summer - March-Memorial Day •Summer - drive immediate booking using mid week and event message - June-mid August •Fall - drive fall visitation - Mid August-October Metrics: •Partners will need to bring proposed metrics as part of their plans that will be shared at the 1/19 partner meeting •Should be based on historic / industry benchmarks •BAAG / Naveen to roll out Hypothesis Process with partner group •Consider A/B testing Other considerations… LOGISTICS