The state of destination marketing: including launch of a new international standard for quantifying ROI of your social activities | William Bakker | #SoMeT15US New Orleans, USA
In the closing keynote of #SoMeT15US, William looked at the overall state of destination marketing and put this in context with the broader opportunities he sees for Destination Marketers. As part of his presentation, he introduced an exciting new standard we developed with six DMOs around the world that finally answers the question “What’s the ROI of social media?”
To get notified when William's whitepaper on this topic becomes available, sign-up here http://destinationthink.com/.
William Bakker is Chief Strategist at Destination Think!, a global marketing agency focusing exclusively on the tourism industry. He is considered a leader in the world of digital destination marketing and speaks at conferences around the world.
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The state of destination marketing: including launch of a new international standard for quantifying ROI of your social activities | William Bakker | #SoMeT15US New Orleans, USA
6. Destination Next
Dealing With The
New Marketplace
#1. Technology will signigicantly alter DMO
role
#2. Greater emphasis on engaging customers
in two-way conversations
#7. New strategies to refocus millennial market
#9. Market segmentation and personalization
#10. Focus on mobile platforms
#20. My DMO will invest more effort in scanning
the market for business intelligence
Broadcast to Engagement
Building & Protecting
The Destination Brand
#3. Play central role in advocacy for
destination
#5. Connect visitor experience with residents’
quality of life
#11. Greater role as cultural champion of
destination
#14. Participate in building platforms for the
visitor experience
#15. Balance need for growth with responsible
and sustainable development
#16. Play a greater role in policy and product
development
#19. My national tourism organization will
encourage local brands
Destination Managers
Evolving The DMO
Business Model
#4. More involved in broader economic-
development initiatives
#6. Adopt uniform operating standards and
consistent measures of performance
#8. Agree on uniform methodology to
measure economic impact
#12. MY DMO will form more strategic
alliances outside the DMO industry
#13. Better understanding of economic
impact of industry
#17. Collaborative technology will
be core strategy
#18. Engage more closely with
nontraditional stakeholders
Collaboration & Partnerships
@Wilhelmus
22. • Find the monetary value of social
media activities
• Make the framework available to
every DMO around the world
Objectives
23. • Use the economic impact value of a
visitor, by DMO, by market
• Calculate the share of influence DMO
channels play in the path to purchase
• Find the most credible impact data that
proves a real impact
Basis for our model
24. Cv x Ci x Mq = Potential Economic Impact
The model
• Cv: Consumer Value
– economic value of a visitor
• Ci: Channel Impact
– the impact of a specific (DMO) channel
• Mq: Maximum Qualifier
– the most credible number measuring an impact
25. Cv – Consumer Value
• The average economic value of a visitor
• Unique by destination and market
DMO reality
• A DMO’s promotional efforts are focused
on demand generation early in the path to
purchase.
• Conversion is dependent on factors
outside of control of the DMO
28. Mq - Maximum qualifier
Facebook Unique users
who liked,
commented or
shared
Either action is an indicator the consumer was
impacted by the shared content, especially
since the action is public and can result in
Facebook displaying the action to a person’s
friend group
Twitter Retweets and
clicks
We have excluded ‘favourites’, since this action
is too passive. It is not a strong indicator.
Instagram - DMO
channel
Comments We have excluded ‘likes’ on Instagram,
because the action is too passive.
Pinterest Click or repin A like is too passive
YouTube Completed View
29. Example
Facebook $2,000 (Cv) x 4.51% (Ci) x 10,000 (Mq) $902,000
Twitter $2,000 (Cv) x 2.21% (Ci) x 2,000 (Mq) $88,400
Instagram $2,000 (Cv) x 1,52% (Ci) x 2,200 (Mq) $66,880
Pinterest $2,000 (Cv) x 1.35% (Ci) x 500 (Mq) $13,500
YouTube $2,000 (Cv) x 3.01% (Ci) x 1200 (Mq) $72,240
Total €1,143,020
30. Where next?
• Watch destinationthink.com for a whitepaper
and the framework
• Continue to build/improve after version 1.0
– share feedback!
• More channels/markets
• Build a global team of DMOs
– join our partners!
31. A new way to
measure success
A new culture
A new type of
company structure
A new way
of budgeting
A new style
of leadership
A new HR-approach
Destination Transformation
32. It’s happening!
Destination BC strategy launch
Marsha Walden – Destination BC
#SoMeT14US
Heidi Sørvig - Visit Sørlandet
#SoMeT15EU
Heleen Huisjes, VisitBrabant
#SoMeT15US
David Peacock, RTO4
Your DMO/CVB?