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Sun Valley Marketing committee recommendations

Sun Valley Marketing committee recommendations



Presentation given by Sun Valley Marketing Committee. More at http://bit.ly/sunvalleymarketing

Presentation given by Sun Valley Marketing Committee. More at http://bit.ly/sunvalleymarketing



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    Sun Valley Marketing committee recommendations Sun Valley Marketing committee recommendations Presentation Transcript

    • SUN  VALLEY  RESORT  AREA  2010   Recommendations Prepaed  by  the  SUN  VALLEY  /  KETCHUM    INDEPENDENT  MARKETING  COMMITTEE   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  1  
    • This  presentaHon  is  available  online   www.sunvalleytoday.com   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  2  
    • CommiQee  and  Structure   MarkeHng  experience   ConsulHng   ConsulHng   Deep  business  skills   Resource:   Resource:   Tim  Silva   Bill  White   Sun  Valley  Co.   Resort  management  experHse   MarkeHng  consulHng  knowledge   Jim  Knight  Chair    Jane  Fairley    Bill  Wright   ConsulHng   Resource:   ConsulHng   Sheri   Resource:   Howell  &   Stan   Resort  development  experHse    Cam   Castleton   Deep  business  skills   Hopkins   Deep  understanding  of  Hotel   Brand/retail/adverHsing/event  experience   Industry   ConnecHon  to  young  markets   Branding  expert   •  AddiHonal  consulHng  resources  added  as  needed  
    • What  you  may  think   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  4  
    • Fact  1:      LOT  2000  /  2010  is  DOWN   Overall  indicator  of  economic  health   2001   2002   2003   2004   2005   2006   2007   2008   2009   0   -­‐5   cumula:ve  percent  change  in  LOT  revenue  (%)   -­‐10   -­‐15   Ketchum   -­‐20   Sun  Valley   -­‐25   Skier days were up in 2009/10 but LOT -­‐30   revenue was still down -­‐35   -­‐40   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  5  
    • Fact  2:  Retail  is  the  largest  segment  of  the  economy     $160,000,000   Ketchum  Retail  Sales   $140,000,000   total  LOT  category  revenue  (2009$)   $120,000,000   $100,000,000   $80,000,000   Ketchum  Bldg  Material  Sales   $60,000,000   SV  Lodging  Sales   $40,000,000   SV  Retail  Sales   $20,000,000   $0   2001   2002   2003   2004   2005   2006   2007   2008   2009   year   -­‐  Visitors  make  up  62%  of  our  local  spending   -­‐  Shopping  is  the  #1  vacaHon  acHvity  according  to  travel  industry  research   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  6  
    • Fact  3:  NaHonally  Sun  Valley  does  not  have  high  awareness   28%   Aware   Unaware   72%   We are less known by those under 35 @ 15% In our key Pacific NW market although a higher percentage are aware of Sun Valley none of the respondents could explain what differentiates Sun Valley Source:  SVKCVB   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  7  
    • Fact  4:  We  do  not  have  enough  (or  the  right)  Hotel  Product   Hotel  Rooms  /  (000)  skier  days   •  Big  Sky  is  similar  to  Sun  Valley  in  #  of  skier   3.50   days  400k/yr   3.00   2.50   –  Remote   2.00   –  Access  issues   1.50   –  Vacant  66%  in  Big  Sky  vs.  55%  in  SV/K     1.00   –  Similar  number  of  condos  but  newer   0.50   in  Big  Sky   0.00   –  Similar  populaHon  size   Sun  Valley   Big  Sky   4-­‐5  Star  Hotel  rooms/000  skier  days   •  Sun  Valley  does  not  have  ski  in/out   lodgings-­‐criHcal  variable  in  aQracHng  high-­‐ 0.40   0.60   0.80   1.00   1.20   1.40   1.60   end  visitors   Jackson   Aspen   •  Sun  Valley  lags  behind  in  4-­‐5  star   accommodaHons   Big  Sky   Sun  Valley   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  8  
    • Fact  #5:  TransportaHon  is  lagging  our  needs   •  Commercial  air  transport  into  SUN   –  Flights  per  day  lag  behind  comparable  resorts   –  Flights  are  focused  on  SLC  and  limit  travel  alternaHves/convenience   –  Visitors  flying  through  SUN  currently  add  ~$40M  to  the  local  economy   –  Flights  do  not  provide  enough  seats  to  enable  meaningful  group  travel   •  We  lack  regular  quality  scheduled  bus  service  to/from  Boise   –  Current  service  is  limiHng   –  Our  conservaHve  (low)  esHmate  is  over  100  people/day    in  transit  BOI/SUN     –  Quality  regular  scheduled  transport  benefits  visitors  and  full  Hme  residents   –  Other  resorts  of  similar  size  have  regular  quality  dependable  service   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  9  
    • Fact  6:  Visitors  are  the  majority  of  local  economy   Visitors  with  property   Full  Time  Residents;   Full  Time  Residents   (2nd  homeowners);   38%   38%   Vistors  without  homes   Visitors  without  homes   in  SV/K   in  SV/K;  24%   Visitors  with  property   (2nd  homeowners)   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  10  
    • Fact  7:  Second  Home  Owners  can  make  a  Difference   $10M  into   2nd  Home   local  economy   owners  spend   5%  increase   • Equivalent  to   today   bringing  in  4000   new  visitors   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  11  
    • Diagnosis  Summary   Economy   Brand   Product   Transport   MarkeHng   • One  economy   • AuthenHc   • Our  hotel  lodging   • Tough  to  get  here   • Not  meeHng   • Worse  than  the   community  first   product  has  not   • We  have  failed  to   expectaHons   US  economy  and   with  a  resort  (not   kept  pace   maintain   • We  are  trapped  in   most  other  resorts   a  resort  town)   • Condos  for  rent   adequate  local  air   a  markeHng   • ConstrucHon  of   • A  unique  niche/ are  in  serious  over   service   paradox  (scale  and   second  homes   bouHque/special   supply,  quality  is   • Roughly  30%  of   effecHveness)   and  SV  faciliHes   product  unlike  any   deterioraHng   visitors  come   • Our  markeHng   deluded  us   other   through  Boise   effort  is  trying  to   • Retail  acHvity   • We  have  a  very   airport-­‐ do  too  many   extremely   small  share  of  the   unacceptable   things  with  too   important  to  our   ski  market    (<1%)   transport     liQle  money   economy   not  right  for   • Other  resorts  have   • Visitors  are  2/3  of   • Too  much   everyone   taken  acHon  to   our  economy   economic   • Brand  is   address  this  issue   • TacHcal  markeHng   concentraHon   confusing,  lacks   and  we  have  not   to  visitors  who   clarity  and   own  homes  is   consistency   overlooked   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE       Page  12  
    • Recommenda.on  #1:    ONE  BRAND   Product  Offering   Strategic  and  Tac2cal  Marke2ng   •  Emphasize  and  support  in  all  ways  possible  the   •  Re-­‐engineer  organizaHonal  responsibiliHes     authenHc  outdoor  experience   •  Focus  responsibility  for  specific  goals  and  hold   •  Clear  product  definiHon   management  accountable.   •  Target  new  visitors   •  Full  Hme  CMO   •  100%  Customer  service  throughout   community-­‐every  place  the  customer  touches   •  Single  website   2nd  homeowner  visits/2me   Chamber/Visitors  bureau   •  Learn  more  about  them   •  Change  name  to  SV  Visitors  Bureau   •  Leverage  their  ability  and  willingness  to   •  Focus  on  enhancing  Visitor  Experience  ,  Visitor   promote  (Promoter  score  of  87)   Spend,  Visitors  Center,  events  and  be  the  voice   •  Increase  number  of  visits  and  Hme  here   of  business  to  the  community   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  13  
    • How  do  we  do  it?         The  Decision  is  Focus,  Resources  and  Time   Alterna:ve  #A   Alterna:ve  B   Re-­‐engineered  for  focus   Steady  as  she  goes   Op:on  #1-­‐-­‐Accelerate   Op:on  #2  Carpe  Annum   •  Divide  responsibiliHes  and  budget   •  Option #1 plus •  SVKCVB   –  Spend per visitor: Chamber •  Increase marketing investment by $400k –  Visitor Center: Chamber for each of next 3 •  $1.2M  budget   –  Events-Chamber years •  Attract new visitors: Responsibility •  New marketing - New Marketing with BOD budget of $1.1M •  Normal  budgeHng   •  Take action to hire oversight cycle   interim CMO •  Appoint BOD by 6/1 (1, SV, 1 K, 1, immediately SVC plus 2 independent •  Approval for increased •  Improve  effecHveness   •  Funding requirements by 6/30 with budget by 6/1 prelim approval in July •  Complete organization •  CMO by 10/1 with option for and funding interim commitment by 6/1 •  Funding:$600k for Chamber and •  Capitalize in all ways $600k to external marketing possible on 75th Anniversary May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  14  
    • RecommendaHon  #2:  A  Single  Common  “Face”  to  Visitors     Chamber   Re-­‐engineer   Sun  Valley  Company   Possible  alternaHve   Recommended  alternaHve   Possible  alternaHve   • Let  Chamber  do  all  markeHng   • Establish  new  customer  focused   independent  common  markeHng   • Let  SVC  do  all  markeHng   • Issues   • Issues   •   Present  scale  insufficient   • Issues   • Focus  on  resort   • EffecHveness  does  not  meet   expectaHons   • EffecHve  in  other  areas  (Telluride  and   • Can  not  accept  public  money   • Too  large  a  group  for  effecHve  oversight   Aspen,  etc.)   • Metrics  unclear   • Would  need  to  be  501©  organizaHon   • Trust  and  CooperaHon    essenHal   • Managed  by  INDEPENDENT  professional   BOD  with  a  CMO   • Funding  from  all  with  clear  charter  and   metrics   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  15  
    • Focused  MarkeHng  Statement  of  Purpose    The  goal  of  Sun  Valley  MarkeHng  is  to  aPract  visitors  to  Sun  Valley  during  all  seasons,   to  improve  their  experience  once  they  are  here,  and  to  inspire  them  to  return   frequently.     The  markeHng  effort  will  be  unified,  strategically  targeted,  and  cost  effecHve.     The  markeHng  effort  will  be  founded  on  the  Sun  Valley  Experience-­‐-­‐the  heritage,  the   ski  mountain,  the  authenHc  town,  the  wide  range  of  special  events,  the  recreaHonal   acHviHes,  the  outdoor/wilderness  opportuniHes,  the  spectacular  scenery.     While  fulfilling  this  mission,  Sun  Valley  MarkeHng  will  reflect  Sun  Valley's  tradiHons  and   preserve  the  character  of  the  community.   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  16  
    • Benefits  of  Focused  Approach     •  ExisHng  markeHng  is  caught  in  a  paradox  and  results  do  not  meet  expectaHons   •  Focus  is  criHcal  for  success   –  Retail  needs  to  be  improved   –  Visitor  experience  is  most  powerful  driver  of  economic  results   –  More  Visitors   •  Demographics   •  Awareness   •  DifferenHaHon   –  Second  homeowners  need  to  be  involved   •  New  ideas  and  approaches  (examples  include)   –  Awareness  will  be  increased  from  current  28%   –  Sun  Valley  differenHaHon  will  be  apparent   –  Emphasis  on  AuthenHc  Experience   •  What  makes  us  what  we  are   •  Unique   •  65%+  of  money  commiQed  spent  specific  and  measurable    programs   •  Immediate  opportunity  for  75th  Anniversary  compels  us  to  immediate  acHon   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  17  
    • OrganizaHon   Sun  Valley   Sun  Valley   Ketchum   Council   Company   Council   SV  Chamber   MarkeHng     Board  of   Board  of   Directors   Directors   Focus  on   •  Visitor  Center   •  External   Maximizing   •  Events   MarkeHng   Focus  on   the  Customer   •  Retail  Spend   •  #  of  Visitors   Bringing  the   •  100%  Customer   •  Brand  Awareness   experience   Visitor  to  SV   saHsfacHon     when  they   Focus   are  here   CooperaHon   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  18  
    • RecommendaHon  #3:  Focus,  Clarity,  Measurement  and   Accountability   Goals   Roles/ Responsibili2es   Resources   Metrics   It's  simply  a  maQer  of  doing  what   you  do  best  and  not  worrying  about   what  the  other  fellow  is  going  to  do.   -­‐John  Adams   Results   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE       Page  19  
    • Examples  of  Goals  and  Metrics   Goals     Clear  and   Increase  Visitors  by   Set  at  Outset   measurable   3000   Roles/ Responsibili2es   Resources   Metrics   Reported   #  of  Visitors   monthly  and   Clear  and   Measurable   Visitor  Spend   quarterly   Measure  the   Expected,   Accountable     Results   reviewed  and   No  excuses   Communicated   management   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE       Page  20  
    • MarkeHng  to  make  the  most  of  the  assets  we  have…we  have   many  examples  of  opportuniHes  for  Near  Term  Wins   •  A clear •  Public •  Alpine •  Trade for •   Heritage and PromoHons   75th  Anniversary   PR   Strategy Relations events media-now Image Events   Leadership   •  Community •  Promotions •  Personalize jointly with SVC •  Event Planning •  Nordic •  Ski SV •  Brand Filter for •  Advertising events Magazine •  Have people consistency Heritage tell their •  Deliberate and revival •  Mountain •  Leverage stories yet Full speed •  75 specials biking 3rd Parties •  Sport •  Timelines •  Rooms •  Audi leadership •  Metrics over •  Passes •  Whitewater •  Burton generations •  Accountability •  ¾ Century •  Etc. •  Authentic specials •  Kayaking •  Celebrity •  Movie (s) endorsements •  75 days in 75 •  Music •  “Today” or ways similar—comp •  Ski Magazine then •  Co-branding May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE       Page  21  
    • Recommenda.on  #4:  Economy   •  Visitors   –  Increase  number  of  visitors   –  Increase  visitor  spend   –  Adopt  100%  Customer  SaHsfacHon-­‐net  promoter  score  to  measure  and   improve  visitor  experience   •  Full  Hme  residents   –  Develop  a  more  diversified  and  sustainable  Economy   •  Specialized   •  Diversified   •  AuthenHc   –  Improve  accessibility  and  infrastructure   –  AQract  new  residents  single  and  family  (proven  best  way  is  friendship  and   referral)   –  Make  Sun  Valley  more  aQracHve  and  fun    for  all  ages   –  Increase  skilled  employment  opportuniHes   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE       Page  22  
    • Start  work  on  Economy  TONIGHT    $12,000,000     •  Retail  is  the  biggest  segment  of  local     economy    $10,000,000     Combined  increase  in   •  Start  with  the  customer  (full   visitors  and  spend  is   Hme,  2nd  homeowner  and   worth  ~$13M   visitors)    and  make  their    $8,000,000     experience  excepHonal     •  Near  term  goal  is  to  increase   spend  in  local  economy  by  5%    $6,000,000     •  Encourage  Second  homeowners  to   spend  more  Hme  and  money  in  local    $4,000,000     community  (5%  increase)   •  AQract  3000  new  visitors    $2,000,000     •  Increase  visitor  spend  by  5%    $-­‐         Full  Time   Number  of   Spend  per   Second   Residents   Vistors   visitor   Homeowners   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE       Page  23  
    • Recommenda.on  #5:  Improve  Lodging  Product   Strengthen  and   diversify  Hotel   lodging  product   Sort  term-­‐-­‐Rejuvenate   exisHng  hotel  product   Add  hotel  lodging  to  meet   market  needs    (from  300-­‐500  rooms)   Add  4/5  Star  and  ski  in/out   Condo  RaHng   (majority  of  new  rooms)   program   Increase  local  bus  service  for  condos  to   enhance  visitor  experience   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE       Page  24  
    • Recommenda.on  #6:  Transport   Aggressively   More  of  what   pursue   works  (add  min   negoHaHons   100  seats/day)   with  mulHple   airlines  for  more   Try  New  Business   Models   flights/seat/ Nantucket  has  20+     desHnaHons   flights/day  in  season   Accessibility   30%  of  visitors   come  through   Develop  and   Boise     implement  a   plan  for  quality   regular  daily   Local  residents   scheduled   needs   ground  transport   to/from  Boise   EsHmated  need  is   5-­‐6  “Sprinter”   RT/day   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE       Page  25  
    • Recommenda.on  #7:  Visitors   100%  Customer  Sa.sfac.on   All  businesses  measure  Net  Promoter  Score   Increase  2nd  homeowner  spend  by  5%    and  develop   them  as  evangelists   Increase    new  visitors    by  3000     spend  per  visitor  by  $20/day   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE       Page  26  
    • Strategic  Roadmap     May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE       Page  27  
    • We  are  all  part  of  the  soluHon  if  we  cooperate   May  18,  2010   SUN  VALLEY  INDEPENDENT  MARKETING  COMMITTEE          Page  28  
    • A  final  thought—   Lead,  follow  or  get  out  of  the  way!    -­‐Thomas  Paine