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The Power of Leveraging Money

The Power of Leveraging Money. The Money. Tier One Dollar for dollar match up to $5,000. Tier Two Two dollars from partners and one dollar from VTC from $5,001 to $25,000. Reimbursable. Payments issued after proof of placement, payment, and other documentation. The Rules.

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The Power of Leveraging Money

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  1. The Power of Leveraging Money

  2. The Money Tier One Dollar for dollar match up to $5,000 Tier Two Two dollars from partners and one dollar from VTC from $5,001 to $25,000

  3. Reimbursable • Payments issued after proof of placement, payment, and other documentation

  4. The Rules • Eligible expenses can include….. • “Traditional advertising” • Printed materials • Website development • Electronic marketing • Fulfillment costs • Tradeshows and displays

  5. The Rules…continued • Ineligible include ……. • Administrative expenses • Promotional items • Event startup costs • Website maintenance • Travel expenses • Directional signage

  6. Guidelines Page 4 Scores 80 and above

  7. Program Description

  8. Your Partners • Minimum of three financial partners • One partner must be the lead partner • Good explanation of roles • Regional projects and partners encouraged • A vendor cannot be a partner • DMO role • Write as if you are telling the story to a stranger

  9. Program Content

  10. Target Audience and Research

  11. Your Research • Why do your project? • Who is your audience? • Why did you choose that audience? • What do you have to support why you chose that audience?

  12. Finding Your Research • Local tax/revenue data • http://www.vatc.org/research • Visitor Logs • Partners Data • Website stats • Comparable projects • Ties into your performance measures

  13. Research and Performance Measure Plan

  14. Your Marketing Message and Program Plan

  15. Your Message • What is your message? • Is it clearly stated? • Does it reach your audience? • Does it cut through the clutter, or is your message cluttered?

  16. Your Plan • Details, details, details • Does your plan reach your audience? • Is it realistic? • Have you done your research? • Tie your plan components to your research • Does it tie into VTC/VIFL marketing? • Does it show how your/VTC funds will be used?

  17. Your Plan Page 8

  18. VTC Marketing Initiatives • Participation in VTC consumer and/or trade cooperative media buys listed on VTC marketing calendar. Please refer to http://www.vatc.org/advertising/coopadprog/partneradvertising.asp for complete partner media buy information. • Placement of advertising in the Virginia Travel Guide, Group Itinerary Planner, and/or the Meeting Planners Directory • Providing travel product on Virginia.org website for group tour, meetings and sports product for the professional trades • Participation in the Canadian “Balance” program • Participation in VTC promotion opportunities • Placement of brochures, translite, or Welcome Center Blitz in the Virginia Welcome Centers • Participation in VTC consumer show program • Participation in VTC domestic trade show opportunities for AAA, group tour, meetings and sports as noted on VTC Marketing Calendar

  19. Your Success A. K. A. - Performance Measures

  20. Your Success • How will you measure it? • Do you have baselines? • Do you have targeted projections? • Are your measures realistic? • Key for your final report

  21. Research and Performance Measure Plan

  22. Give us a shout! • Draft review due October 12 (yikes!) • Call us, e-mail us Steve Galyean 804-545-5517 sgalyean@virginia.org Angela Wiggins 804-545-5553 awiggins@virginia.org

  23. Deadlines • Thursday, October 28, 2010by 5:00 PM • No electronic submissions • Award notification in mid-December 2010 • 18 month completion of program • Final report within 60 days of completion

  24. But wait there’s more! • Tourism and the Arts • Sesquicentennial Tourism Grants

  25. Questions?

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