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IFEA World Festival And Event City Award : IFEA World Festival And Event City Award
The other key area is value in kind (VIK) whereby businesses make budget relieving contributions to the operational elements of the festival or event. This could include staff, equipment, venues, technology which can also add significant value to the quality of the event delivery. For instance, Philips provided the lighting for Vivid Sydney. A key part of the contribution by business is via marketing in kind (MIK) whereby businesses promote the event via main media (TV, print etc), on line and through their direct channels to reach a broader target market/ customer base to drive visitation. This is widely used across many key events such as Sydney Festival, Chinese New Year, Vivid Sydney and Sydney New Year’s Eve. Many of the cultural and art festivals rely heavily on business and marketing support as they have limited budgets. 4.2 SPONSORSHIP SuPPORT In 2011, Vivid Sydney had numerous corporate sponsors including Phillips and Intel. Intel was the inaugural “Vivid Partner” in 2011 and benefited by integrating their brand with the 3D projections on Customs House and precinct activation in Customs Square. The brand values of innovation, creativity and imagination were integrated by Intel and the event via Intel’s tag line and logo lockup “Intel making your world more Vivid” which was used across 56 key markets globally. Sydney has a strong track record in generating sponsorship support for major festivals and events. Image: Sydney Hobart Yacht Race; ROLEX/ credit: Daniel Forster Images left to right: Commonwealth Beachly Classic; The Sydney Morning Herald Half Marathon; Sydney Swans and Colingwood 62 | IFEA WORLD FESTIVAL AND EVENT CITY AWARD |63