Saturday, June 12, 2021

Investing in the Future: Wonwhee Kim

Given global trends, how should attractions best reinvest in themselves to ensure maximum growth?

Chris Yoshii | Lesley Morisetti | David Camp | Matthew Earnest | Wonwhee Kim | Dan Martin

Wonwhee Kim, ProForma Advisors, LLCMine your data

Take a cue from Disney, who is spending one billion dollars in a wristband (My Magic+). This is not just about a new payment system. We believe this is about data. More data collection allows operators to know more about guests than ever before, and to deliver more customized, more segmented experiences.

It answers the questions that you’ve always wanted to know about guests: what do they visit and in which order, what are typical visitation and spending patterns by highly detailed guest demographic?  It allows you to engage with guests during, before and after the actual visit as well.

In other words, data will help you find new customer segments, get existing ones to spend more in-park, and overall, extract more value out of the ‘hard’ investments, like rides or new lands. In more technical terms, the answer lies in discovering more about the demand curve of your own operation.

Next: Dan Martin

Martin Palicki
Martin Palicki owns and publishes InPark Magazine. Started in 2004, InPark Magazine provides owners and operators the perspective from "in"side the "park." Martin has also written for publications like Sound & Communications, Lighting & Sound America, Attractions Management and others. Martin has been featured in Time Magazine, CNN.com and Folio. Martin lives in Milwaukee, Wisconsin, USA.

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