{"id":5081,"date":"2015-12-09T17:17:38","date_gmt":"2015-12-09T22:17:38","guid":{"rendered":"https:\/\/digital.hbs.edu\/platform-rctom\/submission\/monetizing-magic-the-disney-way\/"},"modified":"2015-12-09T17:17:38","modified_gmt":"2015-12-09T22:17:38","slug":"monetizing-magic-the-disney-way","status":"publish","type":"hck-submission","link":"https:\/\/d3.harvard.edu\/platform-rctom\/submission\/monetizing-magic-the-disney-way\/","title":{"rendered":"Monetizing Magic: The Disney Way"},"content":{"rendered":"

Disney is in the business of monetizing magic.\u00a0 This means creating unique, memorable touchpoints that make guests want to experience more of the brand, whether by returning to a park, resort, or cruise ship, watching movies, or purchasing merchandise. Disney\u2019s operating model of hiring and empowering the right people, proactively seeking new magic, and planning for every detail is key to its position as one of the most valuable brands in the world.\u00a01<\/a><\/p>\n

Hiring and empowering the right people<\/em><\/strong><\/p>\n

\"Disney<\/a><\/p>\n

Disney doesn\u2019t hire employees it hires cast members<\/em> \u2013 people who are passionate about being part of the show they put on for guests every day.\u00a0 Once hired, cast members spend time in Disney Traditions before beginning their role.\u00a0 This class is focused on the Disney heritage and helps new employees understand the richness of the brand and what it means to convey it.<\/p>\n

Disney makes priorities for cast very clear through the \u201cFour Keys Basics\u201d started back with Walt Disney himself: safety, courtesy, show, and efficiency.\u00a0 They are initially trained on what this means within their role, are given examples of best practices in each, and then given wallet cards as a daily reminder of\u00a0what is most important.<\/p>\n

With these basic expectations clear, cast members are empowered to deliver magic for guests.\u00a0 A common interview question is \u201cwhat do you do if a little girl spills her ice cream cone?\u201d The answer is not only to get her a new one, but to offer her a new clean shirt as well.\u00a0 Cast benefit from a \u201cno strings attached\u201d program where they can bill these special guest expenses using\u00a0a very simple process.\u00a0 Cast are also given time in their schedule where they are specifically assigned to \u201cfloat\u201d so they can proactively recognize opportunities to engage guests.\u00a0 They are also involved in \u201cmagical moments,\u201d simple acts of integrating guests into daily operations in special ways.\u00a0 For example, a slide prince or princess is chosen each morning at the resorts to wave a wand to turn the water slide on.\u00a0 Cast members are also encouraged and recognized for coming up with their own \u201cmagical moments.\u201d<\/p>\n

Proactively seeking new magic<\/em><\/strong><\/p>\n

\"Disney<\/a><\/p>\n

Innovation is a priority within the company, as the business model depends on new content.\u00a0 Disney is known for its large corporate strategy team, which demonstrates the priority it puts on thinking proactively about future opportunities.\u00a0 It is through this team that Disney in recent years has acquired Marvel and Lucas Films, to great advantage for the company.\u00a02<\/a>\u00a0\u00a0 Disney is also always seeking new ways to integrate into guests\u2019 daily lives as evidenced by the new Disney Life, a digital subscription service offering Disney movies, Disney channel shows, music and movies in Europe.\u00a03<\/a><\/p>\n

To ensure ongoing\u00a0innovation within the parks and resorts, Disney has a \u201cDreamer Team\u201d called Walt Disney Imagineering tasked with consistently designing new rides and attractions, as well as a creative entertainment group focused on stage shows and other experiences.\u00a0 Some new attractions coming in 2016 include a new Frozen<\/em> ride at EPCOT and Disney Springs, a revamped version of Downtown Disney that will double the number of shops and restaurants.\u00a04<\/a><\/p>\n

Planning for every detail<\/em><\/strong><\/p>\n

\"Disney<\/a><\/p>\n

Disney has cultivated a culture of excellence, with a focus on the details of design and show.\u00a0 There is a team specifically responsible for \u201cShow Quality Standards\u201d who audit parks and resorts to be sure details are sufficient to uphold the Disney brand.\u00a0 There is also a facilities department that walks properties as a guest would to gauge improvements needed.\u00a0 They score details down to the level of paint quality through a consistent \u201cvantage point index\u201d that prioritizes potential changes\u00a0based on the impact they would have on guest experience.<\/p>\n

This attention to detail also expands to guest service recoveries.\u00a0 These are particularly likely during peak demand like holidays, so there is always a rigorous planning process, as well as a post-event recap to share learnings and potential improvements. Disney is very proactive at communicating potential difficulties to guests both in person and via mydisneyexperience.com.\u00a0 Disney has a motto for service recoveries of \u201cseek perfection, settle for excellence\u201d: one that can indeed be applied to the operating model of the company as a whole. \u00a05<\/a><\/p>\n

—<\/p>\n

Sources:<\/p>\n

1\u00a0http:\/\/www.forbes.com\/powerful-brands\/#tab:rank_page:2<\/a><\/p>\n

2\u00a0http:\/\/marketrealist.com\/2015\/05\/walt-disney-company-discusses-acquisitions-strategy\/<\/a><\/p>\n

3\u00a0http:\/\/www.wsj.com\/articles\/disney-launches-digital-subscription-service-in-europe-1445449014?mg=id-wsj<\/a><\/p>\n

4\u00a0http:\/\/www.visitorlando.com\/blog\/index.cfm\/2015\/6\/22\/New-and-Upcoming-Attractions-Opening-in-Orlando-in-2016\/<\/a><\/p>\n

5\u00a0https:\/\/disneyinstitute.com\/blog\/2013\/08\/how-disney-leaders-recover-from-a-service-failure\/187\/<\/a><\/p>\n

 <\/p>\n

Additional photo sources:<\/p>\n

http:\/\/www.stillpro.com\/disneyland50thbirthday.html<\/a><\/p>\n

http:\/\/thephotogardenbee.com\/2009\/12\/31\/walt-disney-worlds-holiday-florals-and-trees\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Disney monetizes magic like no other thanks to the alignment of its business and operating models.<\/p>\n","protected":false},"author":748,"featured_media":5103,"comment_status":"open","ping_status":"closed","template":"","categories":[295,832,7],"class_list":["post-5081","hck-submission","type-hck-submission","status-publish","has-post-thumbnail","hentry","category-disney","category-magic","category-winner"],"connected_submission_link":"https:\/\/d3.harvard.edu\/platform-rctom\/assignment\/the-tom-challenge-tom-winners-and-losers-assignment\/","yoast_head":"\nMonetizing Magic: The Disney Way - Technology and Operations Management<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/d3.harvard.edu\/platform-rctom\/submission\/monetizing-magic-the-disney-way\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monetizing Magic: The Disney Way - 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