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HomeMy WebLinkAbout10. VLMDAC January Meeting PresentationVLMDAC BOARD MEETING JANUARY 19, 2023 Agenda I. MONTHLY FINANCIAL REPORT II. APPROVALS •VLMDAC December 15 Minute Approval •Budget Shift Request •Action Requested of Council III. INFORMATION & DISCUSSION UPDATES •Board Training (10 minutes), Matt Mire, Town Attorney •Mexico PR Efforts (30 minutes), Kristin Yantis, MYPR •2022 Domestic PR Efforts (5 minutes), Kristin Yantis, MYPR •Group Sales Year End Results (20 minutes), Kim Brussow, VVP •Videos/Tactical Assets (10 minutes), SITE •December Survey Insights (15 minutes), BAAG •VLMD Evolution and Direction (10 minutes), Mia Vlaar, Town of Vail •2023 Partner Brief Review (30 minutes), Partner and Board Discussion •Town of Vail Updates, Mia Vlaar & Jeremy Gross, Town of Vail •Other Business •Appendix MONTHLY FINANCIAL REPORT MINUTE APPROVAL BUDGET SHIFT REQUEST On-Boarding Budget Request Onboarding of new partners was not included in the board-approved RFPs. There is budget available without shifts being made and without supplemental. 970 Design $4,000 Miles Partnership $5,600 Requesting board approval to increase the contracts of 970 Design and Miles Partnership to include the additional onboarding budget. Video Vignettes/Cinemagraphs Production Request Budget Request: $10,000 ●Steep & Cactus agreed to this project at $15,000, however, it became a much more substantial undertaking. ●Steep went through no less than 15 rounds of revisions with Cactus, and the final deliverables ballooned to unanticipated/unagreed-upon versions, formats, and special effects. ●Challenging to see the scope's growing imbalance in real time, but as weeks turned into months, the project's incremental shifts added up and Steep spent an additional $10,000 on the project. ●Budget shift from video episode creation (we have an additional $12,000 in that 2022 line item) BOARD TRAINING MEXICO MARKETING EFFORTS Media Coverage Reach •Media Clips + Interviews: 52 •Reach, Total Circulation: 28.2M Key Messages •New elevated image of the Vail Summer and Fall experience. •Dream Trips. •Year round destination. •More to Vail Summer than the outdoor offer: signature events, culture, gastronomy, curated experiences. •Sustainable Destination. •Enthusiastic back to normal (post covid) scene. HI patty! Paid Media Strategy ●$20K investment ●Short, longer term media both print and digital ●Outlets - QUIEN, AIRE, Club Reforma and Food & Travel Results ●$56K worth of paid media ●Total print run: 605K ●Total digital impressions: 1.2M ●Additional social and newsletter reach: 720K Vogue Mexico - Cover Shoot/Partnership ●Vogue Mexico is the benchmark for fashion and lifestyle, which sets trends, consecrates artists and creates icons. The most influential monthly fashion, beauty and luxury magazine in the country with 12 copies + 4 print specials per year. ●Audience - 15.4M (High networth readers and subscribers) ●8M unique users with 13.4M visits and 17M page visits. ●72% of the digital audience is interested in Travel and Lifestyle. ●Instagram - 6M followers ●Facebook - 2.3M followers ●1.4M monthly print readers Vogue Mexico - Cover Shoot/Partnership ●Cover shoot in Vail in June. ●Newsletter coverage in July/August. ●Social media coverage once the issue was published. “Making of” the cover shoot. Observations/Recommendations ●New photos assets - we’ve been working with the same images for several years. In 2024, host a photographer/content creator FAM trip. ●Suggest doing strategic billboards in the city and on high networth weekend and leisure places like Valle de Bravo. ●Our complimentary survey vs. SMARI insights. SMARI Mexico Survey Observations/Recommendations ●New photos assets - we’ve been working with the same images for several years. In 2024, host a photographer/content creator FAM trip. ●Suggest doing strategic billboards in the city and on high networth weekend and leisure places like Valle de Bravo. ●Our complimentary survey vs. SMARI insights. Observations/Recommendations ●New photos assets - we’ve been working with the same images for several years. In 2024, host a photographer/content creator FAM trip. ●Suggest doing strategic billboards in the city and on high networth weekend and leisure places like Valle de Bravo. ●Our complimentary survey vs. SMARI insights. Observations/Recommendations ●New photos assets - we’ve been working with the same images for several years. In 2024, host a photographer/content creator FAM trip. ●Suggest doing strategic billboards in the city and on high networth weekend and leisure places like Valle de Bravo. ●Our complimentary survey vs. SMARI insights. Observations/Recommendations ●New photos assets - we’ve been working with the same images for several years. In 2024, host a photographer/content creator FAM trip. ●Suggest doing strategic billboards in the city and on high networth weekend and leisure places like Valle de Bravo. ●Our complimentary survey vs. SMARI insights. Observations/Recommendations ●New photos assets - we’ve been working with the same images for several years. In 2024, host a photographer/content creator FAM trip. ●Suggest doing strategic billboards in the city and on high networth weekend and leisure places like Valle de Bravo. ●Our complimentary survey vs. SMARI insights. Observations/Recommendations ●New photos assets - we’ve been working with the same images for several years. In 2024, host a photographer/content creator FAM trip. ●Suggest doing strategic billboards in the city and on high networth weekend and leisure places like Valle de Bravo. ●Our complimentary survey vs. SMARI insights. Observations/Recommendations ●New photos assets - we’ve been working with the same images for several years. In 2024, host a photographer/content creator FAM trip. ●Suggest doing strategic billboards in the city and on high networth weekend and leisure places like Valle de Bravo. ●Our complimentary survey vs. SMARI insights. 2022 DOMESTIC PUBLIC RELATIONS New York Media Mission ●29 editors and freelance writers in 3 days ●Editors on staff at Travel + Leisure, Thrillist, People, M+C, Hemispheres, Business Insider, Sherman’s Travel, Brides, Points Guy, Travel Weekly, Fodors, Women’s Health ●Freelance writers who contribute to outlets such as Conde Nast Traveler, Vogue, Tripadvisor, Forbes.com, MSN.com, Health, NY Post, etc. ●Opportunities ●Media observations GROUP SALES END OF YEAR RESULTS Year End Group Sales Results 2022 vs. 2021 2022 2021 New Group Leads Generated 404 280 Total Leads Generated 439 301 Active Leads in Pipeline 12/31 104 84 Room Nights Booked 18,510 8,696 Room Revenue Converted $5,564,222 $2,185,951 Cancelled/Lost Leads 327 184 Site Visits for Vail 26 12 HI patty! Key Groups on the Books in 2022 Group Name Month Room Nights Room Revenue Travel Writers Association Oct 204 $40,463 DMA West June 254 $60,706 American Planning Assoc.Oct 601 $100,799 Mill Creek Residential May 680 $175,167 CO Judicial Branch Sept 945 $142,157 Rocky Mountain Mineral July 1,619 $221,926 Northstar Travel Group - MTS Mar/Apr 1,800 $448,200 Triple Crown Sports July 2,000 $500,000 Key Groups Booked for 2023 & Beyond (700+) Group Name Month Room Nights Room Revenue ICJR Jan ‘23 730 $361,522 CO Judicial Branch Sept ‘23 790 $110,600 CO Judicial Branch Sept ‘24 790 $117,710 Danone Wave Foods Jan ‘23 885 $388,965 Encova Insurance Jun ‘24 1,039 $333,655 SMOS Dec ‘23 1,148 $235,692 Mill Creek Residential Jun ‘24 1,160 $349,100 Nat’l Brotherhood of Skiers Feb ‘23 2,611 $1,800,000 Key Groups in the Pipeline 2023 & Beyond 900+ Total Room Nights Group Name Month Room Nights Optica Jun ‘25 907 M3 Accounting Jun ‘24 935 EIPBN May ‘25 1,060 Yamaha Corp of America Jul ‘23 1,107 National Ski Patrol Mar ‘24 1,641 PMG Digital Agency Jun ‘24 1,789 Triple Crown Sports Jul ‘23 2,000 •1 Diamond Listing – upgrade in placement on Cvent landing page •Diamond Plus Dedicated “DiscoverVail.com” Microsite Listing •Banner Ads in Comp Set – Park City and Colorado Springs •Destination “Request a Quote” Feature •CVB Copy Feature Tactic •Group Business Web Pages •Content Widget Package •Video Retargeting Campaign - 6,250 “30 seconds” - includes geotargeting •Google Display Ads - 695 - includes geotargeting HI patty! Cvent Marketing Inclusions YOY Cvent Results - 2022 vs. 2021 2022 2021 VVP - Total RFPs 271 161 VVP - Total RFP RNs 87,770 41,716 VVP - Total RFP Value $31,154,190 $14,843,584 Vail - Total RFPs 1,006 732 Vail - Total RNs 268,780 163,270 Vail - Contracted RFPs 180 127 Vail - Contracted RNs 21,518 13,707 Vail - Contracted Value $9,772,163 $5,777,909 Group Trends in the Marketplace •Incorporating Health & Wellness into group programs/events •Projections exceed 2019 levels, especially with incentive/social events •Reimagined meeting venues, larger suites and outdoor spaces •Hybrid meetings will remain an important business strategy making meetings/events financially viable & accessible to a broader attendance •More advanced technology to make event planning more efficient/effective - Event Registration Software/3D Tours/Virtual •Labor challenges continue to affect the hospitality/F&B industries •Safety & cleanliness continue to be a consideration & deciding factor VIDEOS/TACTICAL ASSETS Romantic Couple - Dining Romantic Couple - Village Lifestyle Romantic Couple - Shopping Video Episodes •Behind The Lense •Fall Friends/Bike - coming soon! DECEMBER SURVEY INSIGHTS Methodology •An online survey was sent to 12,644 engaged subscribers •2,997 subscribers opened the email (24% open rate) •272 subscribers completed the survey (2% survey response rate) HI patty! Executive Summary INSIGHTS RECOMMENDATIONS 1 The survey results reflect an engaged and happy audience. The vast majority are very happy with Discover Vail emails, the frequency of emails and content. Our most satisfied subscribers are our ”high income” and “fly” segments. These results validate our work to send targeted content to destination subscribers with higher incomes. It is working and we should continue on that path! 2 In terms of content, respondents are most interested in the topics that drive their decision to visit Vail – events/festivals, Vail mountain, outdoor activities, dining and arts/culture. Our content mix has been right on track with this feedback. Content topics that were selected with lesser frequency could be talked about within the context of some of the more overarching categories. I.e. Vail Mountain’s sustainability efforts. 3 Personalization was very/extremely important to a quarter of respondents while few felt text messaging was an important improvement. Recommend moving forward with more personalization wherever possible. 4 Subscribers who originate from the Newsletter Opt-In are happiest. Continue efforts to maximize newsletter opt-in subscribers via our website. HI patty! Survey Questionnaire HI patty! Respondents are very happy with the emails they receive from Discover Vail and the vast majority find the frequency of emails to be just right. HI patty! Respondents want to see more emails focused on events/festivals and Vail mountain updates. HI patty! Personalization was very/extremely important to a quarter of respondents while few felt text messaging was an important improvement. VLMD EVOLUTION AND DIRECTION 2023 PARTNER BRIEF REVIEW 2023 Partner Brief Review Review 2023 Partner Brief in packet materials. This document was created by Cactus to guide our 2023 marketing strategy. To best guide the development of 2023 tactics, the partner group is requesting direction from the board. 2023 Partner Brief Review: Audience Audience (Page 12-19): ●Miles plans to do further research to evolve key audiences using MRI and Kantar information as well as layering on Adara Cortex data to build on audience profiles, providing deeper insights into attitudes, motivations and behaviors; believe there’s opportunity to look at Travel Intenders as a secondary audience rather than too fine a focus on a younger high income target QUESTIONS FOR BOARD ●Are there elements of the current audience that the board is not aligned with? ●If so, what elements are of concern? 2023 Partner Brief Review: Campaign 2023 Campaign (Page 20-24): ●Cactus was scooped to complete the 2023 creative based on previous media plans and will be providing working assets in February. ●As we pivot to a more approachable messaging to evolve “Life is but a Dream” only production resources will be required based additional Media Plan assets ●The most efficient way to execute production would be to use an existing partner QUESTIONS FOR BOARD ●Are you aligned with this direction? 2023 Partner Brief Review: Media Media (Page 26-27): ●Miles we be evaluating the tactics to support the 2023 strategy, using past performance and insights as a benchmark and building on the momentum already in place. Display/native, paid social, video, and search will be a part of the plan in addition to exploring content and other unique partnerships with key vendors. Other tactics are being considered and explored for relevance and efficiency. Nothing has been ruled out yet as Miles dives in. QUESTIONS FOR BOARD ●Are you aligned with this direction? 2023 Partner Brief Review: International International (Page 17): ●$120,500 budgeted for effort ●“International” has historically meant “Mexico” ●Traffic through DIA ○1.9M international travelers (thru July 2022) ○Highest growth out of Mexico - Denver and Vail ○“Mexico knows Colorado” ○Other markets - 1) UK 70K per summer 2) Australia visit year round ●CTO ramping up winter efforts, not as much focused on summer ●There is not a reliable way to measure Mexico visitations to Vail QUESTIONS FOR BOARD ●Seeking feedback on strategic direction for international marketing efforts. ○Status quo? ○Expand beyond Mexico? ○Explore new marketing tactics? TOV UPDATES Thank you! Upcoming Meetings: VLMDAC Monthly Meeting, February 16, 2022; Grand View Room APPENDIX KEEP - Good questions for Partner meeting Review 2023 Strategic Brief in packet materials. This document was created by our 2022 strategic lead partner Cactus to guide our 2023 marketing strategy. To best guide 2023 tactics, the partner group is requesting direction from the board on the below questions/suggestions: -Strategy (Page 12-19): Miles will do further research to evolve key audiences using MRI and Kantar information as well as layering on Adara Cortex data to build on audience profiles, providing deeper insights into attitudes, motivations and behaviors; believe there’s opportunity to look at Travel Intenders as a secondary audience rather than too fine a focus on a younger high income target -2023 Campaign Future (Page__): Is this the right campaign for us to move forward with in 2024? Should we consider evolving the existing Brand Platform or creating a new Brand Platform? --- Recommend finalizing -Competitive Research: Are we in tune with resort competition? Are we still the leader? Should we monitor monthly competition (websites, emails, social, campaigns)? -Video: Should we expand video productions to support specific objectives (long/short form) and what does the distribution strategy/media plan look like? -Organic Social: How do we become more strategic; develop content plan that aligns to Brand and objectives? -Brand Alignment: Develop a process (assign a gatekeeper) that ensures all guest- facing creative/messaging from various partner groups aligns to Brand Framework (content, copy, images, tone, look/feel). -Website Direction? -International Marketing Efforts: Expand beyond Mexico? Explore more partnerships with CTO? Continue with current efforts and expand/rethink Mexico?