This page contains a Flash digital edition of a book.
bencHmArking Is past performance still relevant? An overview of


benchmarking by Lesley morisetti, director, Lm Associates, and Alan


Love, research director, bdrc continental


I


n last year’s Attractions Management Handbook we argued the importance of understanding the context of how your peers are performing in order to truly


understand how good your attraction’s perform- ance has been; in other words, the importance of benchmarking. As the spending cuts hit operating budgets and consumer spending


figure 1: AverAge ticket spend per visit (excLuding VAT) Source: LM Associates/ALVA financial Benchmarking Survey


Leisure Heritage Museums & galleries £0.00


Av £4.59 Av £7.22


£4.00 £8.00 £12.00 Paid visits only


continues to be squeezed, should attractions spend research budgets interpreting their his- toric performance through benchmarking? Monitoring key performance indicators


(KPIs) enables attractions to track their performance over time and provides an early warning of not only situations where customers are starting to feel dissatisfaction


but also opportunities to improve operating performance, such as increasing prices when satisfaction and value-for-money are strong. In more challenging economic times it's easy


figure 2: AverAge discretionAry spend per visit (excLuding VAT) Source: LM Associates/ALVA financial Benchmarking Survey


Leisure Heritage Museums & galleries Leisure Heritage Museums & galleries £0.00 £1.00 Av £1.69 Av £1.07


Av £2.01 Av £2.08


Av £1.39 £2.00 £3.00 £4.00 £5.00 £6.00 £7.00 Paid and free-entry visits 38 Attractions Handbook 2011-2012 Av £2.76


to review your attraction’s financial and visitor satisfaction KPIs and make the assumption that any negative shifts are ‘to be expected due to economic impact’. It is therefore even more important to understand the wider context of how performance is shifting across the attrac- tions industry, to learn from your peers how to overcome external pressure and improve performance even in challenging times. ALVA (Association of Leading Visitor At-


tractions) runs two benchmarking surveys each year: a financial survey to benchmark income, productivity and profitability, and a quality survey to benchmark engagement, visitor services, retail, catering and KPIs.


FINANCIAL SURVEY SNAPSHOT The financial benchmarking survey com- pares 50 benchmarks among more than 71 major UK visitor attractions (see Figures 1 and 2 for selected results).


www.attractionshandbook.com £16.00 £20.00 Av £10.75


retail


catering


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