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in relation to the Sales and Marketing of Digital Advertising at Oakridge Park, Vancouver, British Columbia Request for ProposalPresented on behalf of Oakridge Park by: Adam Butterworth, Vieta Inc. 38 Astley Avenue, Toronto M4W 3P4 Canada Tel: +1 (647) 244 4958 E-mail: adam.butterworth@vietaww.com Contents 1.0 CONFIDENTIALITY 1 2.0 INTRODUCTION 1 3.0 REQUEST FOR PROPOSAL 2 3.1 OVERVIEW 2 3.2 OBJECTIVES 3 3.3 SCOPE 3 4.0 BACKGROUND DATA AND INFORMATION 5 5.0 INSTRUCTIONS FOR PROPONENTS 8 6.0 KEY CONTRACTUAL CONSIDERATIONS 9 7.0 VENDOR EVALUATION AND 10 SELECTION CRITERIA 8.0 TIME SCHEDULE AND DELIVERABLES 12 9.0 COMMERCIAL CONDITIONS 13 10.0 ADDITIONAL TERMS AND CONDITIONS 17 GOVERNING THE RFP AND THE PROPOSAL PROCESS 11.0 APPENDICES 20 Request for Proposals in relation to the Sales and Marketing of Digital Advertising at Oakridge Park, Vancouver, British Columbia 31st October 20241. CONFIDENTIALITY This document is confidential and contains proprietary information and intellectual property of Oakridge Park. Neither this document nor any of the information contained herein may be reproduced or disclosed under any circumstances without the express written permission of Oakridge Park. Please be aware that disclosure, copying, distribution or use of this document and the information contained therein is strictly forbidden. INTRODUCTION Oakridge Park is one of the most significant urban redevelopments currently underway in North America. The sheer scale and ambition of the project is turning heads globally and as this mega project nears Phase 1 completion it will become a second city for Vancouverites. Once completed, Oakridge Park will offer an extraordinary experience that goes far beyond physical retail and will enhance the whole of Vancouver, becoming an integral part of the city itself, a city already regarded as one of the most liveable and beautiful in the world. Located in the geographic centre of Vancouver – equidistant between Downtown and Vancouver International Airport, Oakridge Park and the extensive development of the Cambie Corridor will bring 30,000 new homes to the area within the next 10 years. The emerging growth of the Oakridge area is estimated to outpace the broader Lower BC Mainland region by over 23%, making this the largest growth area outside of Downtown Vancouver. The goals for Oakridge Park are audacious, and we are looking for partners who share our ambition to develop a cultural hub for Vancouver that the world will look to for inspiration. Digital Place Based Media is an integral part of this vision as it helps create the sense of place and space we are seeking to achieve. Oakridge Park has designed a “state of the art” digital program through partners such as QuadReal, Westbank, Entro and Smith+ Andersen. We are seeking a media partner who shares our vision and will be able to work with us to bring the advertisers and brands to Oakridge Park that will further enhance the experience for all stakeholders. 1.0 2.02. REQUEST FOR PROPOSAL: PURPOSE, OBJECTIVES & SCOPE 3.0 OVERVIEW The purpose of this Request for Proposal (RFP) is to invite Proponents to submit proposals to provide media representation of the digital media assets at Oakridge Park. This includes all media detailed in Section 3.3 of this RFP– with further detail supplied in Appendix A, and any new media that may be built in the future. Oakridge Park is seeking a strategic partner with a strong history in the stewardship and growth of Digital Out-of-Home (DOOH) media assets. The successful partner will demonstrate their understanding and vision for Oakridge Park, its economic and cultural importance to the city of Vancouver and the Lower Mainland, and its potential for future growth. Specifically, the successful partner will have a deep understanding, and experience in the sale and management of Digital Out-of-Home (DOOH) media. This will include, but not be limited to market positioning, sales & marketing strategy, yield management, and revenue growth. Working in collaboration with Oakridge Park, the successful Proponent will assist in the development of market leading business models for the future of DOOH in Canada, including evaluation of custom content and experiences, aesthetics, new technology opportunities and new advertising models. Demonstrable Proponent experience in optimizing customer data through insight and analytics and including these insights in sales & marketing programs will be considered favourably. This is both in the context of driving higher revenues on the Oakridge Park Media Assets, and as a significant value add to Oakridge Park in better understanding their customers and their behaviours inside and outside of the Oakridge Park environment. The digital media assets and the CMS platform upon which they will run have been predetermined and the capital investment is being provided by Oakridge Park. The exact design, location and technology deployed have been carefully considered in terms of visibility, accessibility, and the contribution to the Oakridge Park experience. Proponents should note that all the digital media assets have been built on a multi-content use case, meaning they will not just run 3rd party advertising content. The inclusion of audience centric content will increase audience engagement with these assets and drive higher value for brands.3. OBJECTIVES Oakridge Park has identified a number of key objectives that the Digital Media RFP is aiming to deliver. The successful Proponent will address these objectives in their RFP response. • The Proponent’s ability to position Oakridge Park as one of North America’s most prestigious and preeminent lifestyle destinations and a highly desirable environment for prestige brands to advertise in. • The Proponent’s expertise and successful track record in both operating in premium, dynamic and evolving DOOH environments and their success in growing brand count and revenues in these spaces. • The ability of the Proponent to successfully target relevant advertiser categories and brands that will: • Enhance the Oakridge Park experience for guests. • Fully utilize the varied Oakridge Park opportunities (seasonal and locational). • Drive premium pricing and overall revenue. • Establish the Proponent as a media partner capable of working alongside the Oakridge Park team to deliver best-in-class advertising solutions for Brands and Retailers alike. • The Proposal will be market facing and will take into account future market developments and requirements. SCOPE This RFP focuses on the opportunity to market and sell across a range of Digital Advertising assets within Oakridge Park. The exact details of each asset, including size, environment, location, and the digital technology being deployed (LED or LCD) – along with accompanying visual renderings, are available in Appendix A. A summary of the assets is as follows. DIGITAL ASSET SUMMARY Site Number Location/Descriptions Format Pixel/Pitch Size (WxH) TP1-215 Transit Plaza External LED 6.67mm 6.40mm x 7.04mm TC1-401 Transit Galleria Internal LED 1.8mm 7.32mm x 3.00mm TC2-402 Transit Galleria Internal LED 1.8mm 7.32mm x 3.00mm M1-1001 South Atrium Internal LED 2.5mm 8.40mm x 3.70mm DDE External Digital x 3 (at Oakridge Park Entry Points) Kiosk/Directory (Portrait) LCD 55” DD1 Single Sided Internal Display x 6 Kiosk/Directory (Portrait) LCD 75” DD2 Double Sided Internal Display x 7 Kiosk/Directory (Portrait) LCD 75”4. IMPORTANT CONSIDERATIONS FOR PROPONENTS 1. Oakridge Park has identified the important and valuable content opportunities the digital media delivers for internal communication purposes as well as 3rd Party Advertising. These opportunities include, but are not limited to: • Content that enhances the overall environment and helping create the Oakridge Park experience. • The communication of upcoming events. • Live streaming of concerts and other events. • Cross promotion opportunities within Oakridge Park (e.g. promoting the Time Out Market Food Hall facilities). Oakridge Park is requiring 50% of the available content display time be reserved for their own internal purposes. Proponents should factor this into their proposals. Should there be certain times of the year (e.g. Quarter 4, Lunar New Year and other culturally important times of the year) where the Proponent believes they can generate significantly more revenue to Oakridge Park by having access to more display time, they should highlight this in their response and validate this via their revenue forecast and Minimum Annual Guarantee. 2. There will be 16 individual locations consisting of 23 digital portrait screens distributed throughout Oakridge Park, delivering significant audience numbers and engagement opportunities. These screens (a mixture of single and double sided) will perform the dual purpose of content display and touch screen wayfinding. The proposed functionality of the screens will be to display content (3rd Party advertising and Oakridge Content) when the wayfinding screens are not in use and then switch to wayfinding functionality once interacted with (i.e. touched). Proponents need to: • Factor this into their financial proposal. • Recommend a technology that Oakridge Park will need to deploy (with estimated costs) to enable an audience count that is both accurate and acceptable to the media industry as a valid audience currency to deliver the best monetisation opportunities.5. BACKGROUND, DATA AND INFORMATION4.0 OAKRIDGE PARK, AN OVERVIEW Oakridge Park is a $6.5 billion project, and it is a landmark and cultural destination for Vancouver spanning over 5 million square feet. Oakridge Park has reimagined modern urban living and it has been designed with the ambition of constantly delighting its visitors, residents and working professionals alike. When completed, Oakridge Park will create a distinctive enclave within the expansive 28-acre footprint that will include: • 10 residential and office towers. • 3,223 residential units. • 700,000 sq. ft. of office space. • 850,000 sq. ft. of retail GLA. Some of Oakridge Park’s many features and facilities will include: • A 54,000 sq. ft (43,000 sq. ft indoor space and 11,000 sq. ft. outdoor patio) food hall - delivered by Time Out Market and anchored by 17 live cooking stations, three bars, a coffee shop, a stage for live performances, art and cultural spaces, a signature cocktail lounge, event space and a demonstration kitchen. • 6 indoor and outdoor performance spaces dedicated to live music and engaging entertainment. • A 9-acre park with a 1 kilometre running loop. • Home to one of the city’s most ambitious public art programs. 3. The brands that advertise at Oakridge Park should reflect the prestigious nature of the environment and enhance the customer experience. Proponents should be aware that Oakridge Park has the option to decline any brands and/or advertising content that in its sole opinion does not reflect the nature of the environment. 4. As outlined, the playback devices and CMS platform have been selected, and the capital investment is being provided by Oakridge Park. The CMS platform selected is Omnivex Ink and the service is being managed by Dot2Dot Communications inc. https://dot2dotcommunications.com/ . Proponents will be required to either integrate with the CMS platform and/or use Dot2Dot Communications or its Ad Manager software for scheduling purposes.6. • A 100,000 sq. ft. community centre providing a cultural anchor for the Greater Oakridge Park neighbourhood and housing Vancouver’s second largest library. • A commitment to environmental sustainability that will see: • A 72% reduction in greenhouse gas emissions compared to a traditional natural gas boiler heating system. This reduction is equivalent to planting 160,000 trees annually or taking 1,300 gas-powered cars off the road. • Converting 20 acres of “urban development” into 13 acres of green space with the replanting of 1,400 trees. • 100% of water sourced from Vancouver’s largest aquifer located directly beneath Oakridge Park. VISITOR NUMBERS AND PROFILE In December 2021, Oakridge Park commissioned a visitor study from Bunt & Associates. This study forecasts that there will be 25,800,000 annual visitors to the facility, making Oakridge Park one of the five most visited shopping centres in Canada after The Eaton Centre (Toronto), The Eaton Centre (Montreal) and Metropolis Metrotown (Vancouver). The visitor numbers do not however tell the whole story with regards to the value of Oakridge Park as a destination for brands as the visitor profile promises to be one of the most (if not the most) exclusive and upmarket in Canada. AS AN OVERVIEW: • Oakridge Park is located in one of the most affluent postal codes in Canada, which since the 1980s has been a preferred residential neighbourhood in Vancouver, it is particularly noted for the quality of its schools. • The suburbs surrounding Oakridge Park contain a significantly high proportion of some of Canada’s wealthiest citizens along with a younger more aspirational population of well-educated professionals with high disposable incomes. • From maturer families living in multi-million dollar detached homes to the younger populations who are predominantly single or couples without children, the one thing they all have in common is a high disposable income that they choose to spend on luxury, and this extends across their lifestyle choices. • The demographic for homes at Oakridge Park is expected to be of a similar make up to the surrounding neighbourhood, primarily those of mainland Chinese/Hong Kong and to a lesser extent Taiwanese backgrounds, who have existing ties to Vancouver’s West Side and are Canadian residents. The majority of condominium purchasers are in their late 30s to late 50s, with the higher end suites (Penthouses), typically purchased by those in their 50s. 7. • The larger homes within the development are expected to be purchased by families with children whereas studio and 1-bedroom homes are often purchased by parents for their children to reside in while continuing their education (for example at UBC) in Vancouver. • Two-thirds of Oakridge Park’s shoppers have historically come from the Primary Trade Area (the City of Vancouver and UBC District). This customer base is comprised of a younger demographic, with 50% of shoppers under the age of 45, and 8 in 10 customers post-secondary educated. Over 20% of households have incomes significantly above the City’s average and Oakridge Park residents are nearly twice as likely to be in the top 10% of Canadian incomes. • The redevelopment and the “Destination Experience” that the new Oakridge Park will deliver, is anticipated to significantly increase the numbers of high-end tourists. OAKRIDGE PARK RETAIL EXPERIENCE Oakridge Park will offer a curated selection of premium global brands across apparel, beauty, jewelry, watches, home décor, as well as lifestyle and wellness, alongside exceptional culinary experiences. The shopping centre will be home to 100+ leading global brands, flagships, and first stand-alone luxury boutiques in Vancouver with experiential offerings. Before commencing redevelopment, Oakridge Park was one of the two top-performing shopping centres in North America. Following redevelop- ment, Oakridge Park will become the most successful shopping centre in North America delivering one or the world’s greatest retail experiences. For decades, the Oakridge Centre was one of the great North American shopping experiences. With the expansion and evolution into Oakridge Park, headlined by the world’s most prestigious fashion houses, that experience is set to join a select group of the world’s very best retail destinations. The retail mix within Oakridge Park is reflective of this ambition and the profile of visitors expected. Already confirmed are: Alexander Wang Arc’teryx Aritzia Brunello Cucinelli Tag Heuer Bvlgari Canada Goose Christian Louboutin Crate&Barrel Chaumet Chow Tai Fook David Yurman Harry Rosen Louis Vuitton Lululemon Jacob & Company Max Mara Miu Miu Maison Margiela Moncler Prada Rolex TimeVallée Time Out Market Tiffany & Co. Tudor Versace Safeway BCLIQUOR Next >