The Audubon Nature Institute was faced with the challenge of recouping attendance after the devastating impact of Hurricane Katrina, and engaged Integrated Insight and design and architectural firms to conduct a feasibility assessment and long range plan for the three main attractions in New Orleans: The Audubon Zoo, Aquarium of the Americas. and the Audubon Butterfly Garden and Insectarium. Integrated Insight prepared a market assessment of leading zoos and aquariums relative to size and capacity, attendance, unique features and benefits, reinvestment patterns, and sources of funding. The long range impact of new venues and entertainment were estimated, including new animal exhibits, an expanded water park, and special events. Proforma financial models were developed to understand how the different initiatives would impact attendance and financial performance. In addition to demand estimation, Integrated Insight developed an overarching pricing strategy incorporating single day admissions, multi-day/multi-venue tickets and memberships.
At the conclusion of the project, it was recommended that the Insectarium be relocated to the Aquarium to better leverage joint marketing, increase traffic flow and gain significant operational efficiencies. This and other recommended investments will enable Audubon to improve earnings five-fold over current levels. Pricing recommendations identified a 20% improvement in net income, and a stronger price-value proposition for consumers.
Capacity Planning and Optimization, Demand and Revenue Forecasting, Market Assessment, Pricing Strategy, Pro forma Development, Revenue and Profit Optimization, Strategy Design