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FESTIVAL OVERVIEW
1. Background
2. Why Change?
3. What did we do?
4. What did we achieve?
BACKGROUND
DED project team worked effectively over 2 months to a set of objectives agreed with MMCC which explored:
• Benefits brought by the MGP Festival
• Possible negatives of the MGP Festival
• Benchmarking MGP against other events
• Understanding market awareness of the MGP Festival
• Identifying key market factors affecting future success of
events such as MGP Festival
• Understanding TT and MGP Festival interrelations
• Understanding scope for growing the MGP Festival (return on
investment)
BACKGROUND
Consultation and research undertaken:
• Good process of consultation, good responses
• Initial desk research undertaken
• Main questionnaire responses: 1,961
• Supplementary questionnaire responses: 782
• Focus group attendance: 5 focus groups
WHY CHANGE?
• Total cost of MGP Festival to Government was c£1.1m, including c£830k from DED
• Treasury receipts from an estimated c£5m spend by visitors were c£750k, representing a c£370k loss to Government
• MGPF reviewed as having potential to grow and a viable future but needing to change
• Needed to keep as a priority the affinity and allegiance to MGP Races
• Awareness/increased marketing not the issue – limited media interest in existing product
• Better coordination/promotion for single points of contact required
• Incredible heritage of TT and TT course could be further exploited
• Fantastic perceptions on many aspects of TT/MGP compared with other off-island comparator events
• Genuine unity in feedback for potential to develop festival/classic elements of the MGP
WHAT DID WE DO?
• Rebranded the festival ‘The Isle of Man Festival of Motorcycling’ retaining all of the existing events and adding a new Classic TT event into the Bank Holiday weekend.
• IOMFOM became the umbrella brand for all the component events allowing clear market positioning.
• Filled a gap in the market with the Classic TT positioned as the worlds leading classic motorcycle event with the best bikes and best riders.
• Developed a content based marketing strategy for the Classic TT leveraging the personalities, the historic motorcycles and the TT brand through the specialist press and social media.
• Used the media values being created to underpin a commercial programme of sponsorships, ticket sales, brand licensing, retail concessions, e-commerce etc.
WHAT DID WE ACHIEVE?
THE HEADLINES:
• Pre event buzz!
• Together with our event partners we delivered a successful event.
• Generated new income streams.
• Opportunities for significant future growth.
• Created a strong brand with the Classic TT.
• Increased the visitor numbers and spend significantly.
• Achieved blanket coverage in the specialist press.
WHAT DID WE ACHIEVE?
THE NUMBERS:
• c£200k of new commercial income
• 50% increase in visitor numbers since last Treasury Report
• Total spend c£8.4m (up from c£4.9m)
• EAV estimated to be over £500,000 at year end
DEPARTMENT OF ECONOMIC DEVELOPMENT