M e a s u r i n g To u r i s m S u c c e s s :

Transcription

1 M e a s u r i n g To u r i s m S u c c e s s : C e n S t a t e s F o c u s R e s e a r c h September 2018

2 Matt Hammer Consumer Insights Strategist 2

3 sioux falls S O U T H D A K O TA 3

4 70 F U L L - T I M E E M P L O Y E E S I N T E G R A T E D team approach I N D U S T R Y specialists

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6 2019 CenStates Focus Paper 6

7 2019 topic: Measuring and showing the success of tourism efforts 7

8 Selecting and Reporting Most Important Metrics Which Metrics are Tracked and Shared? Online Engagement Paid Media Hotel Data Tax & Economic Data Events agenda H E R E S W H A T S T O C O M E. Challenges Future Initiatives Considerations 8

9 methods and collection Online Survey CenStates List 9

10 participants 51 Participants 55% CenStates Members 14 States Represented 10

11 participants location

12 top findings Some participants were veterans of measuring and reporting, while others are just getting started. A wide variety of metrics are tracked, but many metrics are shared infrequently with stakeholders. This occurs most often with paid media and web engagement metrics Shared metrics are influenced by stakeholders what they want to see and what they are familiar with. Metrics with a direct monetary value are most valued and most frequently shared with stakeholders Common Challenges: The interpretation and application of data and findings Stakeholders often struggle to understand marketing results and success measures Partners are often unwilling to share information and data 12

13 selecting and reporting metrics 13

14 selecting metrics to track Who is selecting and reviewing the metrics that are tracked and reported? 78% 59% 39% 27% 4% CEO/Organization leader Marketing staff Analytics/Research team Marketing partner/agency Business Impr. Dist. Board (BID Board) 14

15 55% of respondents do not have a specific team member dedicated to analytics, tracking or reporting 15

16 interpreting & applying metrics Who in your organization is responsible for interpreting and applying results? 78% 59% 51% 49% 39% 35% 27% 24% 4% CEO/Organization leader Marketing staff Analytics/Research team Marketing partner/agency Select & Review Interpret & Apply Business Improvement District Board (BID Board) 16

17 67% of respondents use data and results to develop future marketing efforts 17

18 utilizing metrics How does your organization use data and results to develop future marketing efforts? Strategy & Planning General Strategy Markets Audience Targeting Media Type Campaign Optimizations Creative/ Messaging Tactic & Media Optimizations 18

19 33% are not using data or results to learn from their marketing efforts There is opportunity to increase the chance of hitting the target 19

20 which metrics are most important? 20

21 ranking metrics Rank the following metrics in order of importance when measuring the success of tourism efforts. Ranked 1 to 8. Local Sales Tax Total Visitor Spending Gaming Handle Brand Lift Hotel Occupancy Economic Impact Total Visitor Numbers State Sales Tax *Ranking options in order of importance 21

22 top ranked metrics Ranking metrics in order of importance to measuring the success of tourism efforts. Ranked 1 to 8. More Important Metrics that show direct value to tourism efforts ranked highest Economic Impact: 1.9 Total Visitor Spending: 2.9 Total Visitor Numbers: 3.5 Hotel Occupancy: 3.6 Brand Lift: 4.9 Local Sales Tax: 5.6 State Sales Tax: 5.9 Less Important Metrics that show the bigger picture are important, but consider less valuable to show success Gaming Handle:

23 most valued metrics Which report or metric best validates and shows the value of your tourism organization? Economic Impact 29% Economic impact and visitor numbers. Board members and tourism partners can all relate to firm numbers. Hotel/Visitor Numbers Tax Revenue/Revenue Metrics of Advertising Results 20% 18% 24% Spending and Tax Revenue - It seems that this is really the bottom line that many residents and policy makers care about. ROI Ad/Media Exffectivness Study Visitor Spending 12% 10% 10% Hotel occupancy and revenue. This is the first stat our stakeholders look at and directly impacts our funding. Monetary Metrics Marketing Metrics *Open-end Question 23

24 metrics with an easily understood monetary value were most popular 24

25 The data is great, but it needs to be more comprehensive for a diverse audience. No one that we have to convince has a background in tourism, so the reporting needs to be simple, but effective. -DMO Participant 25

26 success metrics are influenced by stakeholders interests and knowledge 26

27 which metrics are tracked and shared? 27

28 metric categories tested Online Engagement Paid Media Hotel Data Tax & Economic Data Events & Festivals 28

29 sharing tourism success additional distribution methods Print Publication: 26% 25% Presentation 55% Online Dashboard: 16% Website: 16% 29

30 hotel data 30

31 tracking hotel data metrics 75% 59% 53% 47% 41% Occupancy Rate ADR RevPAR Hotel Revenue Hotel Room Demand 31

32 sharing hotel data 75% 55% 59% 51% 53% 39% 41% Hotel data is frequently tracked and the most consistently shared of the tested categories 47% 41% 29% 24% 12% Occupancy Rate ADR RevPAR Hotel Room Demand Hotel Revenue Hotel Bookings Tracked Shared 32

33 tax and economic data 33

34 tracking tax & economic metrics Lodging Tax 67% Number of Total Visits 65% Sales Tax (state and local) 55% Jobs and Wages 55% Brand Awareness 39% 34

35 sharing tax & economic data 67% 55% 65% 55% Taxes are important and valued, but access and frequency of reporting may lead to less information sharing 49% 39% 37% 37% 39% 39% 24% 24% Tracked Shared Lodging tax Sales tax (state and local) Number of total visits Jobs and wages Brand awareness Tourism/ Promotion tax 35

36 online engagement 36

37 tracking online engagement 88% 75% 69% 67% 67% Social Media Engagement Unique Users Time on Site Pages/Session Vacation Guide Requests/ Downloads 37

38 sharing online engagement 88% Online engagement is frequently tracked, but shared at a lower rate than would be expected considering the frequency of collection. 59% 65% 67% 51% 49% 75% 43% 67% 69% 33% 27% Social Media Engagement Web Users & Sessions Vacation Guides Unique Users Pages/Session Time on Site Tracked Shared 38

39 paid media 39

40 tracking paid media performance Clickthrough Rate 84% Engagement/ Engagement Rate 73% Reach 71% Impressions 69% Cost per Click 63% 40

41 sharing paid media performance 69% 71% 84% 73% 63% 63% Paid media is the most tracked category, but is shared less frequently than the other categories 41% 37% 29% 27% 25% Tracked Shared 12% Impressions Reach Clickthrough rate Engagement/ Engagement rate Conversions/ Conversion rate Cost per click 41

42 events and festivals 42

43 measuring events 43% of respondents track the success of events 43

44 tracking the success of events Metrics used to track event success: $ Visitors/ Attendance 64% Revenue/ROI 27% Spending/Sales 23% Hotel Bookings 14% Feedback 14% *Open-end Question 44

45 looking at the big picture 45

46 most frequently tracked metrics 88% 84% 75% 75% 73% 69% 69% 67% 67% 67% Monetary Metrics Marketing Metrics 46

47 most frequently tracked metrics 88% 84% 75% 75% 73% 69% 69% 67% 67% 67% only 2 of the top 10 metrics tracked directly relate to economic impact Social Media Engagement Clickthrough Rate Occupancy Rate Unique Users Engagement/ Engagement Rate Time on Site Impressions Pages/Session Vacation Vacation Guide Lodging tax Guide Requests/ Downloads 47

48 frequency of sharing tracked metrics Monetary Metrics Hotel Data Tax & Economic Data 66% 64% Advertising Metrics Web Engagement Paid Media Performance 58% 39% Tracked monetary metrics are more likely to be shared with stakeholders than marketing metrics. 48

49 advertising metrics are tracked most frequently, but are not considered the most important metrics 49

50 success metrics are influenced by stakeholders interests 50

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52 deandre jordan 52

53 deandre jordan dunks 53

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55 Marketing metrics are the assit 55

56 WHO does need to know EDCATION Who can help you, create the conditions for more dunks What is our Chris Paul who is giving the assist? What can 56

57 what marketing metrics can do Early indicators of success Allow for optimization of tourism efforts Help explain the visitor journey and path-to-purchase Offer context and additional explanation 57

58 All of the reporting is validation of what we do. It takes all pieces to make this DMO function. -DMO Participant 58

59 efforts most difficult to report Efforts that are most difficult to track or report Attributing Visits to Advertising Having Access to Data 59

60 data access Partners are unwilling to share data or do not understand the importance of tracking. Getting tourism partners to use/share more of their results. Having Access to Data Events are hard to track especially since most of our events are not facilitated by the tourism office, but by other organizations. Also, most of our events do not require admission, so there is no way to obtain exact numbers or the home base of our visitors. 60

61 attribution Direct ties from advertising/marketing efforts to visitors. Companies that claim to offer this have inherent flaws that make them ineffective. Very difficult to track digital to determine if visitors actually come. Click-throughs do NOT = travel or spending. Attributing Visits to Advertising The impact of offline media is a) extremely important to the mix, and b) somewhat difficult to report. Out of home media is particularly challenging in this context, though it's a key component of many DMO's marketing plans. 61

62 unfavorable results How do you address unfavorable results in your reporting? We dig deeper to analyze why and report all the factors responsible for unfavorable results. 47% EXPLAIN WHY/ PROVIDE CONTEXT We use open and honest conversation with stakeholders. Provide context to minimize the impact. 62

63 unfavorable results How do you address unfavorable results in your reporting? Be honest and give rationale on strategic steps to grow and improve within current resources. EXPLAIN WHY/PROVIDE CONTEXT (47%) OFFER SOLUTIONS (20%) Report it out just like the favorable results. NO CHANGES, REPORT AS NORMAL (14%) REFRAME IN A POSITIVE WAY (8%) CALL OUT THE UNFAVORABLE RESULT (8%) CONVERSATION WITH STAKEHOLDERS (8%) We still display the annual numbers, but we don't always show year over year. 63

64 challenges 64

65 67% of respondents report that there are efforts that their organization struggles to measure or report 65

66 reporting challenges Which challenges or barriers do you commonly face when measuring and reporting the results of your tourism efforts? Budget 61% Staffing 51% Application of data/results Expertise/Knowledge Uncertainty about which metrics are most valuable most valuable 39% 37% 47% Topics that CenStates can offer training and education Organizational buy-in 31% Technology 27% Pushback from stakeholders 18% 66

67 challenges: additional training What type of additional training or education would assist your organization? HOW TO INTERPRET/USE DATA (40%) General education on the ever-changing ways to track and more knowledge on what is important, and why. UNDERSTANDING WHAT TO TRACK/WHAT IS IMPORTANT (20%) How to better manage and analyze the voluminous amount of data from multiple reports and vendors, draw out actionable insights. PRIMARY RESEARCH/ ANALYSIS METHODS (20%) Building the knowledge of our staff to be able to have a better understanding of the research we already have and the skills to be able to do smaller research projects in house. 67

68 preferred communication What would be the best way for TTRA to share information or resources? Options that offer time flexibility were most popular 84% 65% 45% 45% 33% Webinars Conference presentations 2% Training White papers Other 68

69 future initiatives 69

70 67% of respondents reported that there are areas of research/reporting they plan to spend more time on in the next year. 70

71 future initiatives Visitor Location Analytics: 59% Customer/Data Insights Tools: 56% Audience Segmentation: 44% Attribution Modeling: 24% Path-to-Purchase Modeling: 21% Customer Data Store/Management: 18% 71

72 considerations 72

73 considerations We only report a portion of the data we collect. How do we use our metrics to show a more complete picture of our efforts? How do we make our data more digestible for stakeholders? Find ways to share metrics or evaluate if you should be tracking them. There isn t one go-to metric to gauge success. What are we missing? Think of any metrics you aren t measuring. Are there additional metrics you could track that would help fill in the gaps? Data growth and expansion Data availability is growing. How will we manage and interpret the growing amount of data available in the tourism industry? Evaluate how to use current resources and expertise to expand skills and access. What can TTRA do to assist in data education? 73

74 Questions