3 Critical Disney Lessons From 2022
Let’s look at the past year not from some list of what happened, but how that list of what happened tiers up into three important lessons any organization should take from Disney out of 2022. These lessons clearly illustrate the importance of customer loyalty, i.e., Disney fans; How demand really inflates price; and why delivery must exceed expectations. We’ll bring you examples of how this has occurred throughout all of 2022, and then help you understand the implications to your own organization. Join us in this podcast as we explore these three critical Disney lessons from 2022.
Below is an outline of what we cover on the podcast:
1. Fandom (Customer Loyalty) Matters
- Chain Reaction of Excellence
- D23 Experience
- My Disney Experience
- Disney Annual Pass For Self & Family: $4K
- Per Cap Spending: $2500
- Disneyland Paris: $4K
- D23 & Disneyland: 1.5K
- Disney Cruise Line with Family: $4K (Sub Total: $20K)
- Hosting Groups at Disney: $50K
2. Demand Inflates Price
- Disney Examples:
- MNSSHP & MVMCP $199
- WDW Tours Disney VIP: >3K-6K with 7 Hours for 10 People
- Waiting 7 Hours for $25 Figment Popcorn Buckets
- Comparable Big Ticket Items
- Broadway Ticket: $113
- 1 Day Deer Valley Ski Resort Ticket: $269 on January 1st 2023
- NFL Game $142 on Average/$195 Tops
- Beer: $15
- Why Is Price Higher?
- Expectations are Higher
- World Population Is Greater
- Disposable Income in 1971: $4002; 2021: $55,710
- Dynamic Ticket Pricing–Even Used by Professional Sports Teams
- Disney Reservation System
3. Expectations Must Be Exceeded & Worth the Price
“Well, I think by this time my staff are convinced that Walt is right. That quality will out. And so I think they’re going to stay with that policy because it’s proved that it’s a good business policy. Give the people everything you can give them. Keep the place as clean as you can keep it. Keep it friendly, you know. Make it a real fun place to be. I think they’re convinced and I think they’ll hang on after… as you say… well… after Disney.” – Walt Disney
- 6 Ps Formula
- Where It Worked:
- Guardians of the Galaxy & Epcot Additions
- Disney+ & Andor
- Disneyland Paris
- Avatar: The Way of Water
- Where It Didn’t Work
- Galactic StarCruiser
- Blue Sky at D23
- Space 220
- Exceeding Expectations Can Be Low/No Cost: Donald Duck Note
- Bob Iger Letter: “We will continue to do our best to exceed your highest expectations.”
Inc Magazine: “That’s one of the reasons Chapek got himself in trouble. He wasn’t good at setting expectations, and he was even worse at living up to the ones customers set for themselves.”
Souvenirs For You & Your Organization
The following are complimentary ideas that you can take back to your own organization for consideration.
Customer Loyalty Matters
- What is the value of a customer retained? What is the value if the customer is lost (Jet Blue vs. Delta)
- What do I do to show that my customers matter?
- How do I truly offer great experiences for my loyal customers?
Demand Inflates Price
- What marketplace offerings are comparable to the kind of offerings my organization provides?
- How do I make sure value is retained?
- How do I keep demand going?
- What does it mean to meet expectations?
- What does it mean to exceed expectations?
- What are low/no cost ways I could exceed expectations?
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