In today’s operating environment of significant economic uncertainty and risk, rapid change, and increased competition, Convention & Visitors Bureaus (CVBs) 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 CVBs 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 to launch a comprehensive world-wide Convention & Visitors Bureau (CVB) benchmarking program to address this need. Arena has been developed based on input received from an advisory group of senior representatives from leading CVBs around the world.
The benchmarking product will include a series of key metrics examining all aspects of CVB 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 CVBs, 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 CVBs and destinations, and to provide each CVB with advice on achieving business growth. CVBs 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.