IACVB Performance Measurement Initiatives ACME Annual Conference
Upcoming SlideShare
Loading in...5
×
 

IACVB Performance Measurement Initiatives ACME Annual Conference

on

  • 804 views

 

Statistics

Views

Total Views
804
Slideshare-icon Views on SlideShare
804
Embed Views
0

Actions

Likes
0
Downloads
5
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment
  • This is where we start getting into the real juicy stuff -- and the potential controversy. How does a bureau measure their sales efforts?
  • END: Bureaus have been around for over 100 years but there is no uniform approach to reporting performance to stakeholders -- as we discovered in our CVB Futures Study (2000). So, current bureau reporting practices are sometimes viewed with skepticism. IACVB Board recommended formation of a PMT so we can take control of this before someone else does it for us -- LIKE…
  • What do they REALLY want to know?
  • Bureaus currently track their efforts in a variety of ways -- using different definitions. We thought the best way to handle this would be to first find out what they’re currently doing.
  • Bureaus currently track their efforts in a variety of ways -- using different definitions. We thought the best way to handle this would be to first find out what they’re currently doing.
  • START: Early on we learned that, to do this right, we needed to get down to the most basic level -- DEFINITIONS! If bureaus are going to compare themselves to other bureaus, we need to make sure everyone is using the same definitions. So these are some of the definitions currently being sought.

IACVB Performance Measurement Initiatives ACME Annual Conference IACVB Performance Measurement Initiatives ACME Annual Conference Presentation Transcript

  • IACVB Performance Measurement Initiatives ACME Annual Conference February 25, 2004
  • IACVB Core Initiative
    • Provide CVBs with proactive, credible & auditable approaches to performance measures.
  • Performance Measurement Team
    • To standardize CVB reporting practices by establishing definitions, guidelines, and metrics in order to provide meaningful and useful data.
  • STANDARD DEFINITIONS & PERFORMANCE MEASURES
  • The Challenge
    • CVBs receive the lion’s share of their funding (82%) from public sources
    • Unique position = external performance audits by local community stakeholders
    • Lack of uniform approach to productivity reporting  skepticism with CVB-supplied results
  • A Real External CVB Audit
    • “ The [CVB]’s marketing program has not developed or implemented any formal monitoring and evaluation procedures or mechanisms to determine the effectiveness of its marketing activities…despite the acknowledged importance of a monitoring/ evaluation system…Instead, [CVB] relies on such VAGUE ideas as the health of the industry and such HAPHAZARD methods as what people tell them. While senior [CVB] officials acknowledged the LACK of a monitoring system, they claim at the same time that the overall success of the [CVB] during the last five years---the increase in visitors and growth of expenditures and tax revenues generated by these visitors---all indicate that the [CVB] marketing program MUST BE WORKING .”
  • The Solution
    • Develop an Accountability Mindset
      • CVB must be seen as a business by its investors
      • Account for the effectiveness of the investment
      • Establish standard definitions and measures for tracking and reporting CVB sales and marketing performance
  • Why Standards?
    • Uniform approach for internal/external audits
    • Quantitative, management tools to identify organizational strengths, weaknesses and opportunities
    • Recognized benchmarks to measure success over time
    • Competitive Assessment - How does the CVB compare to other comparable CVBs?
    • Serve as a basis for ROI calculations
    • CVB Management & Staff
    • Destination Stakeholders
    • Government/Funding Entities
    • Consultants & Auditors
    • Media
    Interested Parties
  • The Process
    • Started in 2003
    • Initial CVB outreach - Survey
      • definitions used by CVBs
      • activity & productivity metrics
      • visitor characteristics
      • methods used to track specific variables
  • Results of the Survey
    • Good News
      • CVBs at all levels measure their activity and productivity to some degree
    • Bad News
      • CVBs use inconsistent definitions
      • Activity and productivity metrics measure different things
      • ‘Data Rich’ but ‘Information Poor’
    • Initial draft recommendations debated at joint PMT/Convention Sales Shirtsleeves meeting during 2003 Annual Convention
    • Revised draft circulated to PMT, IACVB membership & general public for comment via www.iacvb.org Sept. 2003
    The Process
  • Standard Convention Sales Definitions, Activity & Productivity Measurements
  • Sales Productivity Standards Criteria
    • Documentation
    • Auditable
    • Accountable
    • Credible
  • CVB Implementation Strategy
    • Core Measurements
      • Ensures CVBs are consistent in reporting baseline metrics
    • Supplemental Measurements
      • CVBs will expand and enhance their accountability and productivity practices
  • Recommended Convention Sales Definitions
    • Lead
    • Bid
    • Tentative
    • Booking - hotel event
    • Booking - citywide/conv. center event
    • Lost Opportunity
    • Cancelled Business
  • Recommended Convention Sales Activity Measurements
    • Bids
    • Tradeshows attended
    • Outside sales trips
    • Clients/Potential clients visited
    • Client site inspections
    • Fam tours
    • Fam tour participants (planners only)
    • Telephone call reports
    • Direct mail campaigns
    • Telemarketing campaigns
    Note: All Convention Sales Activity Measurements are CORE metrics
  • Recommended Convention Sales Productivity Measurements
    • Leads
      • room nights
    • Bookings
      • room nights
      • attendance
      • attendee spending
    • Lost Opportunities
      • room nights
      • reason for loss
      • attendee
      • attendee spending
    • Cancellations
      • room nights
      • reason for loss
      • attendee
      • attendee spending
    • Number of leads per tradeshow attended
    Note: All Convention Sales Productivity Measurements are CORE metrics
    • Tentatives*
    • * Status being refined
  • Next Steps
    • IACVB Board adopted recommended definitions and core performance measures
    • Publicized to IACVB membership and key industry partners through communication and education efforts
    • Standards have been submitted to APEX for inclusion
    • Review & recommend supplemental convention sales productivity metrics and special issues
  • Next Steps
    • Focus on Convention Sales Supplemental Measures & Special Issues
      • CVB Originated vs. Assisted Business
      • New & Repeat Business
      • Sales Conversion Ratios
  • Leisure Sales Productivity Measures: Update
    • Three separate areas
      • Definition of a visitor & key visitor statistics
      • Group sales activity & productivity measures
      • Consumer sales activity & productivity measures
    • Initial recommendations under review
    • Enlist the Tourism Committee for input
    • Recommendations slated for July 2004 IACVB Board of Directors meeting
  • ROI: Update
    • Incorporate Convention and Leisure Sales Productivity Measures
    • Extensive review by membership and industry partners w/expertise in CVB ROI
    • Results will be completed end of 2004
    • Provide CVBs with tools to measure value to community & stakeholders
  • IACVB Commitment
    • Providing CVBs with pro-active, actionable approaches to performance measurements will remain a CORE initiative for IACVB.
    • Check www.iacvb.org for updates on its Performance Measures Initiative
  • Questions/More Information
    • Ruth Trojan, Nadler & Associates
    • [email_address]