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SVL, Chukka Caribbean Adventures Sign MOU To Offer Tours At Caymanas Park

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Kingston, Jamaica – Monday, June 21, 2020: Supreme Ventures Limited (SVL) and Chukka Caribbean Adventures have formally entered into a Memorandum of Understanding (MoU) that will see tours being offered at the iconic Caymanas Park, operated by Supreme Ventures Racing and Entertainment Limited (SVREL).

The signing took place on Thursday, June 18, and the announcement was made via live stream on SVL’s social media pages.

It is expected that the MoU will see collaboration on marketing programmes, support in logistics, and development of the tour experience. Both parties will work together on key priority areas of the collaboration to stimulate business growth and generate foreign exchange.

John Byles, Managing Partner of Chukka Caribbean Adventures spoke to the driving force of the partnership:

“There is no question that the racetrack and the experience of Caymanas Park are known around the world. What we want to do is package this as a full-day experience for hotels and tourists in the Ocho Rios market, where they get the chance to go to the races, interact with the horses and make their bets”. He continued:

“We hope that the overall experience of a Jamaican race day and the food, drink and the excitement it offers will appeal not only to tourists but also to Jamaicans, much like our annual Chukka Foundation Hanover Charity Polo Game”.

 

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CAPTION: Gary Peart (right), Executive Chairman of Supreme Ventures Limited looks on as John Byles, Managing Partner of Chukka Caribbean Adventures and Solomon Sharpe, Chairman of Supreme Venture Racing and Entertainment Limited sign a Memorandum of Understanding (MoU) on June 18, 2020. The MoU will see the entities partner to offer tours at Caymanas Park.

Ian Levy, Deputy Chairman of SVL noted that the partnership will go a long way to improving business and generating profits to the benefit of all workers involved at the track and share-holders of all companies involved in the venture.

“I am delighted with this project. My goal is to make Caymanas Park an attractive destination for tours. I think Chukka [Caribbean Adventures] is the best partner we could have in this endeavour. The potential for this partnership is fantastic. With visitors coming to experience and watch the ‘Sport of Kings’ at Caymanas Park with a Jamaican flavour, there is the potential of earning foreign exchange, increasing the patronage to the track and thereby increasing the betting pool and improving the business at large”.

Levy further hopes that the influx of tourists to Caymanas Park will also spur local patronage. He also expects that tourists will continue to bet using SVREL’s digital platforms once they return home, thereby generating further revenue via these alternative betting channels.

“I am very confident about the future and the success it will bring for SVL, SVREL and of course for Chukka [Caribbean Adventures]”, Levy concluded.

Solomon Sharpe, Chairman, SVREL, noted that the timing of the partnership bodes well for Caymanas Park and Chukka Caribbean Adventures as borders reopen and horse racing resumes on June 20:

“In the past year, we focused on improving our core product so it is now time for us to fully ex-ploit the 200 acres of Caymanas Park that we have available. We could not ask for a better partner than Chukka and I believe the possibilities and the earning potential are fantastic.”

The announcement of the MoU follows SVREL’s plans to provide a new infield experience for patrons, trackside live.

According to Sharpe, Caymanas Park will be hosting a sneak preview of the trackside live experience with sponsors after which the offer will be made available to patrons as of June 27.

“This is the kind of experience we will be working on with Chukka [Caribbean Adventures] and I think the possibilities are endless ”, Sharpe said. “This is another step in the right for SVREL as we continue to work assiduously to improve our margins not only to the benefit of all stakeholders but also to improve the legacy of Caymanas Park”.

ABOUT SUPREME VENTURES LIMITED
Supreme Ventures Limited (SVL) is a premier lottery and gaming provider, formed in Jamaica in 1995. In June of 2001, it launched its lottery operation, with its technology provider GTECH, now IGT (International Game Technology). The Company, which became publicly listed in 2006, is in the business of providing entertainment through Lottery games, Sports Betting, Horse Racing and Video Lottery Terminals. SVL currently offers some ten lottery games, in addition to the JustBet and QuickSports products. SVL also owns and operates the Acropolis Gaming Lounge and seven other regional centres island-wide. In addition, its independent retailer network comprises some 1250 locations and offers online and mobile options for Sports Betting (JustBet mobile) and Horse Racing (Mbet). SVL also comprises wholly-owned subsidiaries Prime Sports (Jamaica) Limited, Supreme Ventures Racing and Entertainment Limited (SVREL), which operates Caymanas Park, Supreme Enterprises Inc, Post to Post Limited, and Supreme Route Limited trading as Champion Gaming.

Artificial Intelligence

AMK Communications Pioneers AI-Generated Advertising Campaign for InterMetroONE

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In a landmark move set to redefine the advertising landscape, AMK Communications, through its subsidiary Click Digital Agency, is poised to launch Jamaica’s first AI-generated advertising campaign for the revolutionary InterMetroONE super app. This ground-breaking initiative not only marks a significant milestone for Jamaica but also positions AMK Communications as a leader in innovative marketing strategies within the Caribbean region.

A New Era of Advertising

The introduction of AI-generated advertising heralds a new era of creativity and efficiency in marketing. By leveraging advanced artificial intelligence, AMK Communications can produce highly targeted, data-driven campaigns that resonate deeply with diverse audiences. This technology enables the creation of personalized content at scale, ensuring that every message is relevant and engaging.

Unparalleled Benefits for Clients

For clients, the benefits of AI-generated advertising are manifold:

Enhanced Creativity: AI tools can analyse vast amounts of data to generate unique, creative concepts that might not emerge through traditional brainstorming sessions. This opens up new avenues for storytelling and brand expression.

Data-Driven Insights: AI provides valuable insights into consumer behavior and preferences, allowing for more precise targeting and message customization. This ensures that marketing efforts are not only creative but also strategically aligned with audience interests.

Efficiency and Scalability: AI can rapidly produce multiple variations of ads, testing and refining them in real-time to optimize performance. This reduces the time and cost associated with traditional ad creation and allows for quick adjustments based on market feedback.

Personalization at Scale: With AI, it’s possible to create highly personalized advertisements for large audiences, ensuring that each viewer receives a message that feels uniquely tailored to them. This enhances engagement and drives better results.

Setting Trends in the Caribbean

AMK Communications’ initiative is part of a broader trend towards the adoption of AI in advertising. Globally, AI is being used to create more dynamic, interactive, and personalized ad experiences. From chatbots and virtual assistants to AI-driven video content, the possibilities are endless. This move by AMK places Jamaica and the Caribbean at the forefront of these international developments, showcasing the region’s ability to innovate and lead in the digital age.

Looking Ahead

The AI-generated campaign for InterMetroONE will serve as a benchmark for future marketing efforts, demonstrating the power and potential of artificial intelligence in advertising. As AI continues to evolve, it will unlock even more opportunities for creativity and efficiency, helping brands to connect with their audiences in deeper, more meaningful ways.

AMK Communications Limited and Click Digital Agency are not just launching a campaign; they are setting a new standard for the industry, proving that the future of advertising is here and it is powered by AI. Clients can look forward to a new realm of possibilities, where technology and creativity come together to deliver exceptional results.

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Businessuite News24 International

Unilever Initiates Talks To Potentially Sell Ice Cream Business

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Unilever has initiated talks with buyout firms to potentially sell its ice cream business, a move estimated to be worth up to $19.4 billion. This strategic decision aims to streamline Unilever’s operations and focus on its core business areas.

Unilever’s ice cream division, which includes renowned brands like Ben & Jerry’s, Magnum, and Wall’s, generated a turnover of €7.9 billion in 2023, representing about 13% of the company’s total sales. The separation will create a standalone ice cream business with significant global presence in both in-home and out-of-home segments.

The sale is driven by the distinct operational needs of the ice cream business, which differ from Unilever’s other segments. Ice cream has unique supply chain requirements, seasonal demand fluctuations, and higher capital intensity. By separating, Unilever can focus on its remaining core segments—Beauty & Wellbeing, Personal Care, Home Care, and Nutrition—aiming for mid-single-digit sales growth and improved margins post-separation​.

The potential buyers include private equity firms like Advent International, Blackstone, Cinven, and CVC Capital Partners, which have shown preliminary interest. The separation process will involve significant operational changes, including a major productivity program aimed at reducing costs by €800 million over the next three years, offsetting any dis-synergies from the separation. This plan also involves a restructuring that will impact approximately 7,500 predominantly office-based roles globally​​.

Overall, this move is expected to create a world-leading ice cream business with the flexibility to grow and innovate independently while enabling Unilever to become a more focused and higher-performing company.

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Business Insights

Broadcast Radio Is Not Dead For Jamaican And Caribbean Radio Stations If……

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The headline in last weeks business gleaner read “The Bridge Radio Station Up For Sale”.

The opening paragraph of the article told the story, “After débuting on air with much fanfare nearly three years ago, radio station The Bridge 99 FM is facing an uncertain future and is now up for sale. Two investors in The Bridge, one of the newest FM radio stations in a crowded and dwindling market, have confirmed that they are seeking buyers for the station.”

Target Market

The Bridge, the brainchild of New York-based Jamaican Robert ‘Bobby’ Clarke who heads the Irie Jam Media Group, which operated Irie Jam Radio in the Tri-State area for more than two decades, came on air in August 2021 aiming, as its name suggested, to connect Jamaicans abroad, mainly in the United States, and those at home, through a unified platform.

On-air Talent

The upstart station was able to attract a slate of well-known names to its airwaves, including disk jocks Richard ‘Ritchie B’ Burgess, Kurt Riley and Nikki Z, veteran recording artiste Tony Rebel, retired politicians Ronald Thwaites and Pearnel Charles Sr, and controversial talk show host Dr Kingsley ‘Ragashanti’ Stewart.

But The Bridge failed to attract a significant audience, with more persons turning away from traditional media sources like radio to social media for information and entertainment.

The Question that we have to ask is very clear. Is Broadcast Radio Dead!

In the article Zachary Harding, founding partner of Delta Capital Partners Jamaica, and an investor in The Bridge was asked about the future of FM radio: “There can be money in FM radio, as it is still a popular means of entertainment and getting information. Radio is not dead. However, advertisers now have more options in terms of marketing spend and there has definitely been a tremendous shift towards social media and away from traditional media. This trend will always impact smaller players in the market negatively. However, with the right strategy, you can integrate social media into your strategy to command more loyal listener base and differentiate the station, while providing greater points of distribution. This is exactly what we are doing at CaribStar Media”.

Broadcast radio is not dead, but it does face significant challenges in the current media landscape.

Here’s a comprehensive look at trends and potential directions for making broadcast radio viable in Jamaica and the Caribbean:

Convergence with Digital Platforms: One major trend is the integration of broadcasting with digital and social media platforms. Radio stations are increasingly using live streaming services like YouTube, Facebook Live, and Twitch to reach audiences seeking real-time and interactive content​​.

Local Focus and Community Engagement: Despite the shift towards digital, local advertising remains a strong point for radio. Industries such as retail, real estate, automotive, financial services, and healthcare continue to invest in local radio ads due to its strong community presence and trust factor​. Radio can leverage this by focusing on hyper-local content and community engagement, which digital platforms may not provide as effectively.

Political Advertising: Political campaigns are a significant revenue source, especially in local markets. With political spending on the rise, particularly in swing states, radio stations can capitalize on this by offering targeted advertising solutions​.

Shorter, More Engaging Ads: Long ad breaks can drive listeners away, especially when compared to the ad-skipping options available on streaming services. To combat this, radio can focus on shorter, more engaging ads, including authentic endorsements from popular hosts, which tend to resonate more with listeners​​.

Technological Advancements: The deployment of 5G networks will revolutionize content delivery, allowing for seamless streaming and improved connectivity. This can enable more interactive and immersive experiences for radio listeners, potentially attracting a larger audience​.

Diverse Revenue Streams: Beyond traditional ads, radio stations can explore additional revenue streams such as sponsored content, events, and partnerships with local businesses. This diversification can help mitigate the risks associated with declining ad revenues​.

Content Personalization and On-Demand Options: Emulating successful aspects of streaming services, radio stations can offer personalized content and on-demand listening options through podcasts and digital archives. This approach caters to the growing demand for content that fits individual schedules and preferences​​.

For Jamaican and Caribbean radio stations, adopting these strategies could help create a more sustainable business model in a rapidly evolving media environment. Emphasizing local content, leveraging digital convergence, and exploring new revenue streams are key steps towards maintaining relevance and profitability.

Source: https://jamaica-gleaner.com/article/business/20240710/bridge-radio-station-sale

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The Pros And Cons Of Using Influencers And Brand Ambassadors And How Caribbean Brands Can Navigate The Decision

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The debate around whether weak brands need influencers and brand ambassadors while strong brands can rely on their established presence is multifaceted, encompassing various pros and cons. Here’s a look at the perspectives on both sides and how Caribbean brands can navigate this decision.

Pros of Using Influencers and Brand Ambassadors:

Increased Brand Awareness: Influencers and brand ambassadors can introduce your brand to a larger and more diverse audience. They leverage their established followings to enhance visibility and engagement.

Credibility and Trust: Influencers are often viewed as trusted figures within their communities. Their endorsements can lend credibility to your brand, making their followers more likely to trust and purchase your products.

Targeted Marketing: Collaborating with influencers allows brands to target specific demographics more precisely. For instance, if your brand appeals to a niche market, finding an influencer within that niche can be highly effective.

Cost-Effective Marketing: While hiring top-tier influencers can be expensive, working with micro-influencers (those with smaller, but highly engaged followings) can offer a strong return on investment. These influencers often have more genuine interactions with their followers, which can lead to better engagement rates.

Cons of Using Influencers and Brand Ambassadors:

Potential for Scandals: Partnering with influencers can be risky if they engage in behavior that damages their reputation, which in turn can negatively impact your brand.

Management and Logistics: Coordinating with influencers can involve a lot of back and forth, requiring significant time and resources to manage relationships and campaigns effectively.

Authenticity Concerns: If an influencer’s endorsement of your brand seems inauthentic, it can backfire. Followers may perceive the partnership as a mere commercial transaction, which can erode trust.

Strong Brands Carrying Their Own Weight:

Strong brands with established reputations often have the luxury of relying on their existing customer base and brand equity. These brands can focus on organic growth through customer loyalty programs, high-quality products, and robust marketing strategies without heavily relying on influencers. However, even strong brands occasionally use influencers to stay relevant and tap into new markets.

Caribbean Brands Navigating the Decision:

Caribbean brands, whether established or emerging, should consider a balanced approach:

Identify Goals and Audience: Clearly define what you aim to achieve with influencer partnerships. Whether it’s raising brand awareness, entering new markets, or boosting sales, your goals will shape your strategy.

Select the Right Influencers: Choose influencers whose values align with your brand and who have a genuine connection to your products. This is especially important in the Caribbean context, where community and authenticity are highly valued.

Start Small: Experiment with micro-influencers who have a strong local following. They can provide more authentic endorsements and are often more cost-effective than larger influencers.

Monitor and Adapt: Continuously monitor the effectiveness of your influencer campaigns. Use metrics such as engagement rates, brand mentions, and sales to evaluate success and make necessary adjustments.

In conclusion, while weak brands may significantly benefit from the boost provided by influencers and brand ambassadors, strong brands can also find value in these partnerships to maintain relevance and expand their reach.

For Caribbean brands, a strategic and culturally sensitive approach to influencer marketing can lead to substantial growth and brand loyalty.

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Business Insights

Consolidating Marketing Efforts into a Social-First Framework: A Data-Driven Approach

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In the rapidly evolving digital landscape, consolidating marketing efforts into a social-first framework has become essential for brands seeking to maximize the effectiveness of their marketing channels, content strategies, and influencer collaborations. This comprehensive approach leverages the power of social media to create a cohesive and data-driven marketing strategy that enhances engagement, reach, and ROI.

Understanding the Social-First Framework
A social-first framework prioritizes social media as the primary channel for marketing activities. This approach ensures that all marketing efforts are integrated and optimized for social media platforms, where consumers increasingly spend their time. By consolidating efforts into a social-first strategy, brands can streamline their marketing processes and make more informed decisions based on real-time data and consumer insights.

Benefits of a Social-First Framework

Unified Marketing Channels:
Consolidating marketing efforts into a social-first framework allows brands to create a unified strategy across multiple channels. This ensures consistency in messaging and branding, leading to a stronger and more cohesive brand presence.

Example: Coca-Cola effectively uses a social-first approach by maintaining consistent branding and messaging across all social media platforms, which reinforces their brand identity and enhances consumer recognition​​.

Enhanced Content Strategies:
A social-first framework enables brands to develop content strategies that are tailored to the preferences and behaviors of their social media audiences. By analyzing social media data, brands can create content that resonates more deeply with their target audience.

Example: Starbucks uses social media analytics to understand what types of content their audience engages with the most. This data-driven approach allows them to create highly relevant and engaging content, from seasonal promotions to user-generated content campaigns​.

Optimized Influencer Collaborations:
Integrating influencer marketing into a social-first framework ensures that influencer collaborations are aligned with overall marketing goals and strategies. Social media data can help identify the most effective influencers and measure the impact of their campaigns.

Example: Daniel Wellington’s influencer marketing strategy is deeply integrated into their social-first framework. By leveraging data to identify influencers who resonate with their target audience, they have successfully driven brand awareness and sales​​.

Implementing a Social-First Framework

Centralized Data Collection and Analysis:
To implement a social-first framework, brands need to centralize their data collection and analysis. This involves using tools that aggregate data from various social media platforms, providing a comprehensive view of consumer behavior and campaign performance.

Example: Sprout Social offers robust analytics tools that help brands gather and analyze social media data, enabling them to make informed decisions and optimize their marketing strategies​​.

Content Creation and Distribution:
Content should be created with a social-first mindset, ensuring that it is optimized for the platforms where it will be shared. This includes creating visually appealing graphics, engaging videos, and interactive posts that are tailored to each platform’s unique features.

Example: GoPro’s social-first content strategy involves creating stunning visual content that showcases their products’ capabilities. By focusing on user-generated content and sharing it on platforms like Instagram and YouTube, GoPro effectively engages their audience and promotes their brand​ (Latest Insights)​.

Leveraging Real-Time Engagement:
Social media allows for real-time interaction with consumers, providing an opportunity to build stronger relationships and address customer needs promptly. Brands should use this capability to engage with their audience, respond to feedback, and foster a sense of community.

Example: Nike’s real-time engagement strategy involves actively responding to customer inquiries and comments on social media. This proactive approach not only improves customer satisfaction but also enhances the brand’s reputation as responsive and customer-focused​.

Conclusion
Consolidating marketing efforts into a social-first framework provides a comprehensive and data-driven approach that maximizes the potential of marketing channels, content strategies, and influencer collaborations. By prioritizing social media, brands can create more cohesive and effective marketing campaigns, engage with their audience in meaningful ways, and drive better business outcomes. Adopting a social-first strategy is essential for brands looking to thrive in the digital age and stay ahead of the competition.

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