After just 4 years of its inaugural 5 year term, BID Leamington has consistently delivered high quality projects and services to increase footfall and trade within Leamington town centre. By setting clear objectives and implementing and implementing an assertive marketing plan, BID Leamington has achieved significant targets against the national average throughout a period of global recession:
Compared to the UK average of one in six shops standing empty1, Royal Leamington Spa, through BID's efforts, has kept this number of "voids" to around one in ten. Footfall in the town center has also consistently increased year on year. Recent data provided by Springboard indicated that from June 2011 - June 2012 footfall in Leamington has gone up by 6.3% where footfall in centers in the rest of the UK has fallen by 5.5% for the same period.
Footnote 1 source: Department for Business, Innovation and Skills/Genecon and Partners (2011) Understanding High Street Performance
Although managed on a day-to-day basis by the BID Leamington team, income and expenditure is reviewed monthly by the BID Board of Directors. Through asserted efforts by the BID team to increase transparency, the BID Leamington marketing plan contains detailed budget forecasts by activity, by month and by media type. This has enabled clearer analysis of how the budget is split and where greater return on investment can be gained.
BID Leamington has continually assessed its spend year on year. Compared to the 2010/11, in 2012 BID Leamington has increased additional events and project revenue by 466%, creating an income that has risen from £3602 to £20,048. This was an increase of 104% compared to the budget. Actual overhead costs for 2011/2012 decreased compared to the budget, representing a saving of just over 8.46%. We have also made a saving on expenditure of 1.82% versus budget.
BID Leamington has developed a number of strong initiatives aimed at encouraging our local community to shop local. One such example is the Little Book of Offers, which is now in its third year and contains offers from over 120 independent and national retailers. The voucher book has expanded, as the support from businesses has grown, making it even more sought after by the public. Building on this success, and in recognition of diverse customer usage, BID has also developed further schemes such as the Christmas-based Golden Ticket competition which rewards customers for purchasing from local shops (rather than on-line).
All year round, BID delivers online vouchers and offers at the Royal-Leamington-Spa.co.uk website, as well as encouraging customer retention through the recently launched Sparkle Loyalty Card and key fob. As with all BID Projects these promotions are constantly monitored to guarantee a high level of return on investment and to ensure we gain valuable customer data. An example of this was the data gained from over 6000 Golden Ticket entries which can now be provided back to businesses for targeted marketing activities.
BID Leamington has learned from past initiatives and has evolved them to suit economical changes and local requirements. For instance, items such as the 'Inspire' booklet and 'Parade' flyers have been developed into strategic advertising and direct marketing campaigns like Christmas promotions, shopping guides and mini-maps that target specific neighbouring towns and visitors on a regular basis. With events like the Food and Drink Festival being marketed more successfully on a regional basis, it has grown year on year, attracting visitors to Royal Leamington Spa from all over the UK.
Leamington Live has evolved into a range of up-to-date community events like the Jubilee Tea Party and the Leamington Lantern Parade. These events are aimed at getting businesses and communities involved with the town centre through art initiatives, flag and lantern-making workshops and family-oriented activities, as well as attracting visitors by having a vibrant event calendar.
To help businesses in the town respond to current challenges, BID Leamington organises regular business support activities on topical subjects. We have established regular Open Meetings with guest speakers as well as 1:1 meetings, workshops and networking events.
Through building excellent relationships with third parties and offering greater collective purchasing power, BID has negotiated cost savings for businesses on retail and business courses, and core utility services such as gas, electricity and waste. BID has also developed a Business Toolbox, which provides hints and tips to enhance your business, and is now available through this website and via newsletters.
BID Leamington continually works in conjunction with other groups such as the Town Centre Management team, community groups and local authorities to represent the needs of levy-paying businesses. Local issues such as parking charges, road maintenance and way finding all have regular input to their respective authorities from the BID team. Furthermore, BID Leamington works alongside specific sectors to implement new initiatives like fashion events, night-time economy and beauty promotions.
Wednesday 6th February 2013
Thursday 21st February - 5.30pm
Monday 25th February - 12.30pm
Thursday 28th February - 5.30pm
Monday 4th March - 12.30pm