2021/2022 annual business plan

1PB Annual Business Plan 2021/2022 - Village Heart Marketing Fund 1

2021/2022 Annual Business PlanVillage Heart Marketing Fund Commitee

32 Annual Business Plan 2021/2022 - Village Heart Marketing Fund

Overview PurposeObjectivesVisionBudgetAllocated SpendRoles and ResponsibilitiesStrategies Events & Activations Marketing & Communications Identity & Brand Governance & AdministrationMeasurement & Evaluation

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City of Prospect established the Village Heart Marketing Fund and Village Heart Marketing Fund Committee, pursuant to Sections 154(1) and 154(2)(c) of the Local Government Act, 1999.

The separate rate is fixed to all non-residential, rateable assessments (Land Uses 2, 3, 4, 5, 6, & 9) along Prospect Road who are within the Village Heart which is bordered at the north by Gladstone and Alpha Roads, and at the South by Buller and Ballville Streets.

With the assistance of City of Prospect staff, the Village Heart Marketing Fund Committee is responsible for delivering exciting initiatives to develop and promote Prospect Road as a vibrant lifestyle precinct destination for businesses, residents and visitors.

The Committee consists of voluntary meeting attendees who represent the interests of commercial landlords and business owners trading within the Prospect Road precinct/Village Heart Prospect Road area.

The key role of the Village Heart Marketing Fund Committee is to develop and recommend to the Council an Annual Business Plan for the implementation of the Village Heart Marketing Fund.

The Village Heart Marketing Fund Committee also facilitates networking and communication between the Village Heart Prospect Road business community and the Council.

The purpose of the Annual Business Plan 2021/2022 is to promote Prospect Road as a destination, define key performance indicators of the Village Heart Marketing Fund Committee, and creative a cohesive business community.

This Annual Business Plan focuses on developing marketing and promotional activities to stimulate visitation and activate the area to Prospect Road.

The Annual Business Plan outlines a series of aims, objectives, and strategies to achieve Prospect Road’s overall vision.

Mainstreets like Prospect Village Heart are in competition with a wide range of other main streets and retailers, including the Parade at Norwood, Burnside Village, O’Connell Street North Adelaide and Adelaide’s CBD. There is also competition from new ‘big box’ shopping precincts on Churchill Road North and at Gepps Cross.

The aims and objectives of the Village Heart Marketing Fund Annual Business Plan 2020-2021 are to:

1. Support the growth of business on Prospect Road – focusing on night-time activity, outdoor activation and vacancy rates

2. Support the centrality of Prospect Road to the successful marketing and growth of all business in Prospect

3. Support community and business events and seek to ensure the maximisation of local business involvement

4. Represent the views of business to the community and government

5. Use social media to link with existing Council communication channels, media, community and business

6. Develop a coordinated approach to destination marketing and business growth

7. Be at the cutting edge of innovation, engagement and growth

Overview

Purpose

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Prospect Road is a destination. Discover more on Prospect Road.Experience fine dining, cafe culture, a contemporary lifestyle, boutique shopping, nightlife, entertainment, and street art.Discover the unusual and quirky in the heart of Prospect.


The total budget for the 2021/2022 Annual Business Plan is $19,500*,

Council collects these funds as a separate rate by fixed charge of $150 on 130 assessments within the Village Heart.

*Total levy subject to be reduced by any approved rebates

Budget

Proposed Allocation of FundsTOTAL $19,500*

REBATES PROVIDED -$600

NET FUND TOTAL $18,900

Item Number Strategy Allocated Funds1.1 Events & Activations TBD

2.1 Social Media TBD

2.2 Advertising TBD

2.3 Competitions & Promotions

TBD

3.1 Sponsorship TBD

3.2 Merchandise TBD

3.3 Signage & Decorations TBD

4.1 Administration & Offset -$5,000

4.2 Catering -$500

Roles & ResponsibilitiesThe Village Heart Marketing Fund Committee adopted the following roles and responsibilities in July 2021.

Chair: Andrew Taylor, Cafe Komodo

Vice Chair: Sara Della Verde, Maras Group

RebatesRebates were granted to 4 assessments, totalling $600. The net fund is therefore $18,900 to spend.

*Budget to be finalised upon implementation.


Develop, support and implement events and activations on Prospect Road to attract visitors, provide a unique experience, and grow Prospect Road’s reputation as a lifestyle precinct.

Strategy 01Events & Activations

1.1 Events & Activations

Support City of Prospect and externally-managed events held on Prospect Road.

Investigate options to host smaller events and activations throughout the year.

Promote Prospect Road as a destination for external event organisers and provide promotional support for external events.

Implement a Village Heart Marketing Fund led events and activations program calendar,

Key Initiatives:

• SALA Festival 2021

• Christmas in Prospect activities and activations - Summer 2021

• Cinema Premiere Event & After Party - 2021/2022

• Prospect Road Morning Tea Fundraiser

• Prospect Fringe & Prospect Fringe ArtWalk

• Discover More Markets

• Support Palace Nova Cinemas events


Strategy 02Marketing & CommunicationsImplement and support the Prospect Road Marketing Strategy campaigns and initiatives to promote Prospect Road experiences and businesses.

2.1 Social Media

Develop and implement a social media strategy to further the Prospect Road social media channels. Increase engagement with current Prospect Road followers and attract new followers through targeted marketing campaign content. Promote local business and event content, within the Village Heart Marketing Fund precinct.

Key initiatives:

• Photography - Completion of visual and digital assets - new and missing businesses

• Competition Campaigns

• Event Campaigns

2.2 Advertising

Develop and implement digital and traditional advertising campaigns promoting Prospect Road across a range of mediums to increase visitation from the wider metropolitan region.

Key initiatives:

• Digital Advertising - Glam Adelaide Package - continued from 2020/2021

• Digital Advertising - South Aussie with Cosi

• Social Media Advertising

2.3 Competitions & Promotions

Coordinate a calendar of competitions and promotions that engage Prospect Road businesses and encourage community participation.

Key campaigns:

• Father’s Day

• Christmas in Prospect - Advent calendar - Giving tree

• Best Category Competition

• Local Top 5 Competition

• Mother’s Day


Further develop and leverage the Prospect Road brand through initiatives to define and communicate the precinct’s identity.

Strategy 03Identity & Brand

3.1 Sponsorship

Provide targeted sponsorship to external events and activities to promote visitation to Prospect Road. Increase brand awareness by leveraging alligned brands to benefit all businesses in the Prospect Road precinct. Aim to build long term relationships with potential partners.

• Prospect Fringe

• SALA Festival

3.2 Merchandise

Investigate options for potential Prospect Road branded merchandise for key Prospect Road campaigns to be distributed to businesses.

• Prospect Road Shopping Bags

3.3 Signage & Decorations

Investigate and develop a long term strategy for signage and street decoorations to promote the Prospect Road brand within the precinct. Promote specific campaigns, events, and activities on Prospect Road.

Key Campaign:

• Christmas in Prospect

• Prospect Fringe


Strategy 04Administration & Governance

Ensure the ongoing and effective administration of the Village Heart Marketing Fund Committee. Increase business participation and engagement with the Village Heart Marketing Fund initiatives and create a business community.

4.1 Administration & Offset

City of Prospect internal staff (Manager Business and Innovation and Economic Development Officer) to administer Village Heart Marketing Fund Committee, implementation of Village Heart Marketing Fund initiatives, and all distribution. Internal resourcing supported by the introduction of the Village Heart Marketing Fund offset.

4.2 Catering

Modest allocation of funds to catering for Village Heart Marketing Fund Committee meetings. Meetings will continue to alternate monthly between morning and night times, with coffee and coffee/alcohol provided respectively.


In order to assess the success of the Annual Business Plan 2021/2022, the various strategies need to be measured. Methods of measurement may include:

– Recording attendance numbers at events.

– Analysing data from competition entries.

– Conducting feedback surveys.

– Evaluating the performance of businesses after a major activity or event.

– Website and social media reports.

- Retail trends and vacancy reports.

Discover More on Prospect Road

Measurement & Evaluation

For further information contact:Network Prospect / Prospect Road City of Prospect

128 Prospect Road Prospect, South Australia 5082

Telephone 8269 5355

[email protected] www.networkprospect.com.au

2021/2022 annual business plan

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