Trends
You’ve probably noticed that we often exclude “owners” from many of our reports, analyses, and Stash posts. Owners are unique in the way they behave and keeping that group separate can be a helpful tool when planning marketing strategies. Today, however, we wanted to turn the tables a bit and look at one, simple insight about owners: their season pass renewal rate. How does it compare to other passholders? Keep reading.
The Goods
To find our answer we looked at the behavior of over 7,500 passholder-owners from 8 different resorts across 3-4 seasons. We took the renewal rates in each season for both the owner group as well as the non-owner group and here’s what we found.
To put the exact numbers behind the bars on the chart above, the average renewal rate of a non-owner passholder from our sample was 60.5%. For an owner, that number was 71.6%. As you’d expect, 11 percentage points (18% total) higher renewal rates for the owners.
What This Mean
This may be a bit simpler than some of our other data, but it’s a starting point for a building a more complete view of owners’ behavior. In this case, the behavior is expected, but the gap does seem smaller than it could be when you consider the added investment and connection to the resort.
Perhaps this illustrates that owners need a bit more attention in terms of renewals. Excluding them from regular promotions may still be a smart idea, but sticking them into their own segment with their own campaigns, copy, and reasons to renew could give the group that has every reason to renew an extra reason to do so.
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