In today’s operating environment of significant economic uncertainty and risk, rapid change, and increased competition, Destination Marketing Organisations (DMOs) around the world are faced with a number of mounting pressures including financial constraints, fierce global competition, demand for increased accountability, and in some cases, fragmentation of membership and unrealistic community expectations. Numerous DMOs have articulated the need for improved global benchmarking to enable organizations to maximize their business performance and demonstrate results to stakeholders.
GainingEdge, InterVISTAS Consulting and Simpleview have joined forces in a strategic partnership with DMAI to launch a comprehensive world-wide DMO benchmarking database to address this need. Arena has been developed based on input received from an advisory group of senior representatives from leading DMOs around the world.
Arena will provide live dashboards and annual reports on the state of the DMO industry. The reports will include a series of key metrics examining all aspects of DMO operations and performance. The operating environment and destination factors which have an impact on organizational and destination performance will also be assessed. Focus will be on eight core elements which have been identified based on the strategic needs of DMOs, and includes: Current Sales Performance, Economic Contribution, Future Business Outlook, Business Strategy, Current Online Market Performance, Competitive Position, and Productivity Available Resources.
A combination of advanced statistical analysis and experience-based strategic insights will also be used to identify the key drivers of performance for DMOs and destinations, and to provide each DMO with advice on achieving business growth. DMOs performance and operational information will be compared against world, geographic region, and budget category averages, with a custom option to be compared directly against the grouped results of your competitors. Output options include a combination of real-time dashboards, quarterly reports and annual reports.
Visit the Arena Destination Benchmarking site for more information.
The team here at GainingEdge would be delighted to discuss your benchmarking needs and how we can assist in more detail. Please also feel free to contact us with any questions you may have.