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How to Add a NEW Revenue Stream with Cards
- 1. How to Generate NEW Revenue with Cards in 2014 Thursday, January 23, 2014 D R I V I N G # R E V E N U E #PromotionsLab | B U I L D I N G D A T A B A S E | G R O W I N G A U D I E N C E
- 2. How to Interact with Us Twitter Hashtag: #PromotionsLab Note: We are recording this webinar and you will receive an email with links to the recording and the slide deck. GoToWebinar™ Questions Panel # #PromotionsLab
- 3. Who We Are Increase ROI, Build & Engage Audience # #PromotionsLab
- 5. Speakers Matt Chaney Kent Oglesby Dir. of Affiliate Success @mattchaney # Liz Crider Affiliate Success Manager @emcrider New Media Development Manager, KY3-TV @KentOgs #PromotionsLab
- 6. Agenda • • • • • # Overview of Cards Why Cards work in YOUR Market Executing a Successful Card Tool for Success Q&A #PromotionsLab
- 7. OVERVIEW OF CARDS D R I V I N G # R E V E N U E #PromotionsLab | B U I L D I N G D A T A B A S E | G R O W I N G A U D I E N C E
- 8. What are Cards? Inside REDEEM THIS C ARD O ne M ani cure O ne Pedi cure O ne Faci al O ne 6 0 M i nute M assage 2 5 % off Products # #PromotionsLab
- 9. Over $300K in Two Months! # #PromotionsLab
- 10. KY3 – Regional Golf Cards – Case Study REVENUE $30K and growing # #PromotionsLab
- 11. Cards Mean Healthy Margins! Sites Keeping Approx. 80% of Revenue # #PromotionsLab
- 13. If You Have a Deals Program…. # #PromotionsLab
- 14. If You Don’t Have a Deals Program… # #PromotionsLab
- 15. But You Need a Plan # #PromotionsLab
- 16. Works with what you already have/do # #PromotionsLab Cards Complement Existing Sales Efforts
- 18. Promotions One-Two Punch! SPA C ARD # #PromotionsLab
- 19. WHY CARDS CAN WORK IN YOUR MARKET D R I V I N G # R E V E N U E #PromotionsLab | B U I L D I N G D A T A B A S E | G R O W I N G A U D I E N C E
- 22. JS Online Results • • • • # Over $45K gross (and growing) Unlimited Inventory Must Pay Cart Fee Valid through 2014 Season #PromotionsLab
- 24. Case Study: Fox 21 Ski Card # #PromotionsLab
- 26. State College Spa Card # #PromotionsLab
- 27. State College Spa Card Results • • • • # Over $12K gross Sold Out…TWICE Popular Spa Huge Promotion #PromotionsLab
- 30. PLANNING YOUR CARD LAUNCH D R I V I N G # R E V E N U E #PromotionsLab | B U I L D I N G D A T A B A S E | G R O W I N G A U D I E N C E
- 31. Typical Card Timeline 8-10 Weeks to Launch* • Choose card type • Prospect List and Sales Package Created # 3-8 Weeks to Launch • Sell, Sell, Sell #PromotionsLab 2 Weeks to Launch 1 Week to Launch • Card Created Internally • Promotion Schedule Finalized • Card Uploaded to Admin • LAUNCH ready to go – all promo scheduled
- 33. How Did You Decide Which Card to Run? # #PromotionsLab
- 34. What Was Your Pitch to Merchants? # #PromotionsLab
- 35. What Were the Top Objections You Overcame? # #PromotionsLab
- 36. What Merchant Feedback Have You Received? # #PromotionsLab
- 38. Tips for Creating Your Promotional Package Use all assets available to you Think outside of the box – showcase your unique attributes Show the value of everything included Incorporate your advertiser’s logo and name wherever possible # #PromotionsLab
- 39. TV has… • VIDEO • Category Specific Programming • On Air Talent • In Studio Interviews # #PromotionsLab
- 40. Newspaper has… • Special Sections • Creative Print Ads • Niche Pubs • Magazines # #PromotionsLab
- 41. Radio has… • In Studio Interviews • Live Reads • Onsite Remotes • Category Specific Programming # #PromotionsLab
- 45. Card Opportunities Throughout the Year # #PromotionsLab
- 46. Your Card Launch Checklist Action Deadline/Date Decide on Card Type Create Sales Package and Prospect List Launch Internally with Staff Sell, Sell, Sell – Deadline to Close Finalize Logistics with Merchant Set-up Deal in SSM Admin Promotion Launches – print/online/social/email # #PromotionsLab Completed
- 47. Your Card Launch Checklist - Sample Action Deadline/Date Completed Decide on Card Type (golf) 1/3/14 x Create Sales Package and Prospect List 1/27/14 Launch Internally with Staff 2/3/14 Sell, Sell, Sell – Deadline to Close 3/28/14 Finalize Logistics with Merchant 4/4/14 Set-up Deal in SSM Admin 4/10/14 Promotion Launches – print/online/social/email 4/14/14 # #PromotionsLab
- 48. TOOLS FOR SUCCESS D R I V I N G # R E V E N U E #PromotionsLab | B U I L D I N G D A T A B A S E | G R O W I N G A U D I E N C E
- 49. Second Street Lab Big Page # #PromotionsLab
- 50. We Have Templates for You! SPA C ARD # #PromotionsLab
- 55. TAKEAWAYS D R I V I N G # R E V E N U E #PromotionsLab | B U I L D I N G D A T A B A S E | G R O W I N G A U D I E N C E
- 56. Use Cards to Grow Your Digital Revenue # #PromotionsLab
- 58. Go With Proven Categories # #PromotionsLab
- 59. Only Focus on Top Merchants # #PromotionsLab
- 60. Prepare Your Sales Team # #PromotionsLab
- 61. Create a Robust Promotional Package # #PromotionsLab
- 62. Questions? Matt Chaney Kent Oglesby Dir. of Affiliate Success @mattchaney # Liz Crider Affiliate Success Manager @emcrider New Media Development Manager, KY3-TV @KentOgs #PromotionsLab
Hinweis der Redaktion
- ChaneyComment & questions on TwitterQuestions RecordingSurvey at the end – your feedback is welcomedWhomever tweets the most using the hashtag will get a killer prize!
- Chaney
- ChaneyTons of information, case study, industry insights and articles not only us but from your peers – leaders in the industry of promotions, deals, and contests
- Liz -multi offer ‘punchcards’ for multiple merchants-great high price point allows you to group similar businesses together to give customers a great value $99-$150 on average per card, straight trade-encourage repeat business and also gives customers opportunity to try new businesses-Multi Merchant cards are great for golf or ski deals-Single Merchant cards are ideal for spas – include several treatments for one great, upscale spa – this will encourage repeat business and grow loyalty-Choose between printed/mailed redemption OR digital/mobile redemption for each campaign you run
- LizCards are off to a great startA lot of partners took advantage of the holidays to push golf, ski and spa as gifts
- ----- Meeting Notes (1/22/14 11:28) -----KentGross revenueNET (if you're okay sharing it)Number of merchants involvedLaunch date and scheduleType of courses (executive?, etc.)
- LizCards with multiple merchants tend to no have a rev-share given the volume of promotion includedCards with a single merchant tend to have a rev-share of 60-80% to the site
- ChaneySiteNEW digital revenue streamMerchantBig promotional packageAd credits they can use later in the yearDeal gets people to their business, then you can UPSELL (cart fees, food/drink)Only one use per person – many return as full price customers to play the course againConsumerAllows consumers to make one purchase and try different merchants
- ChaneyCards give you something new to bring to partnersExpands your offering for consumersHelps you focus on top performing categoriesCan help raise per deal revenue and increase average priceProduct geared towards advertisers you may not be working with – new digital revenueConvert them into regular deal advertisersProven track record - THEY WORKRight categories for deals and especially so with cardsbig revenue a few times a year - who doesn’t need that
- ChaneyNo problem – this can work for you, too!Cards work for any media type and market sizeDiversify your digital portfolioBe apart of the growing Local eCommerce trendCan be incorporated into other campaign-based promotions like special sections, contests, sales promotionsEasy to plan and execute with existing resourcesTarget advertisers that are not traditional core media buyersbig revenue a few times a year - who doesn’t need that
- Chaney Means setting goals for the number you want to doBreak it down into managable chunks – start with next six months, then build from thereWorking ahead is keyWhere to start?
- ChaneyStart with what you are already doing – build upon existing planning and infrastructure, sales pushesLook at your news and sales promotions for the year and pick the best opportunities to tie-in a cardAdding a card will make it a richer package and offering
- ChaneyPerfect opportunity to tie-in a cardEngage and grow your audience with contestsMonetize them with a card and contest sponsorships
- ChaneyFor an ever deeper integration is to make your card a prize for your contestThis would work really well here – spa card for mom!
- LizPrice point: $99 - $149How many merchants: 5-8Deal detailsAt least 50% offRound of golf at each course; don’t include cart rentalReasonable restrictions are okayMust buy cartValid on weekdays onlyNot valid on holidaysOpportunity for title sponsorGolf superstore, sporting good store, apparel, casino, restaurant, car dealerAdvertisers looking to target affluent consumersTop ProspectsLocal and regional coursesDeal quality and in demand merchants
- Liz
- LizPrice point: $99 - $149How many merchants: 5-8Deal detailsAt least 50% offOne-day lift pass per resortDon’t need to include equipment rentalsOpportunity for title sponsorSporting goods store, local restaurant, casinoAdvertisers looking to target affluent consumersTop prospectsLocal and regional resortsDeal quality and in demand merchants
- LizMarket: Colorado SpringsTV Station – Fox 21Generated: over $13K in revenue right at the end of the year to help them close on a strong noteThis is an example of a Homepage takeover they did to get the word out
- LizPrice point: $149 - $199How many merchants: singleDeal detailsManicure, pedicure, facial, massage, discount on product, signature treatment - avoid hair cutsCustomers will return multiple times to redeem (usually a struggle for spas so this is ideal)Customers are not loyal for these services so giving them multiple reasons to return is the selling pointMiddle level services offer upsell opportunityOpportunity for title sponsor: noTop prospectsLocal spas, hotels, multi-location spas, upscale spa, any spa with the capacity to handle high volume
- Liz
- Liz
- LizNew Sponsorship OpportunityAdditional Revenue OpportunityOnly works for multi-merchant cardsBranding for CompanyUnique OfferIn ALL PromoGreat Audience – align audiences with related and complementary sponsorsGolf TargetsGolf retailersGolf pros and lessonsAlcoholDriving rangesResortsAny premium or lifestyle brandSki TargetsRetailersTravel agenciesChalet rentalsResorts
- ChaneyYou want to be selling at least two months in advance – plan ahead; earlier the better!A single-merchant card will require a slightly shorter timeline since you’re dealing with fewer advertisers.
- Chaney
- Kent – answer question
- Kent – answer question
- Kent – answer question
- Kent – answer question
- ChaneyKey selling point – in fact THE #1 essential selling pointNew advertising opportunity for your merchant – especially those who’ve never advertised with youYour key leverage to get a great offer from your advertiserYour opportunity to make a big splash and even showcase all the products you have to offer including some new, exciting ad units
- Chaney
- LizCategory Specific ProgrammingVIDEOOnline DirectoriesLive ReadsIn Studio InterviewsTalent – sports guys plays course and talks
- ChaneySpecial SectionsDirect MailCreative Print AdsNiche Pubs/MagazinesLarge Online AudienceRich Media Ads
- LizIn Studio InterviewsOnsite RemotesLive ReadsCategory specific programming
- KentWhat advertisers get-promo donut spots-landing page on website-links to their website-feature one-hole in sports cast each nightWhat we getParticipating Courses will receive:TV Promo: Each course will be featured in a 30 second dedicated promo that will air on KY3, KSPR and The Ozarks CW a minimum of 10 times between November 11 – December 8, 2013. The resident pro will provide the voice over. Value: $4,000Online: Each course will receive a custom online marketing program totaling 50% of their trade value to use at their discretion during the 2013 – 2014 season. Value: Up to $7,500Online Promotions: All courses will receive shared online promotions to KY3 Inc’s websites, mobile sites, e-mail and social audiences.250,000 banner ad impressions on all of KY3 Inc’s websites and mobile sites.Weekly e-blasts to over 75,000 peopleWeekly Facebook and Twitter posts, featuring the Best of The Ozarks Golf Card.Total Value: $9,000Total Advertising Value: $25,500
- LizGolf: sell it annually but feature and refeature it through the golf season (length will be dictated by your market) – but start before the holidays and run through at least June for Father’s DayValentine’s Day: spa card – still time but you better act quicklyMother’s Day: spa card for MomHolidays: cards are perfect as gifts!All of these can be gifts throughout the year
- LizMulti-Merchant or Single > Theme/Category; for this example, let’s go with golf.Since you want to have your reps selling two months ahead, start planning 3-6 months aheadTwo months before launchGive yourself extra time for any stragglersStrive to have the deal wrapped and ready to launch at least a week before launchTest artwork; finalize deal detailsMake a splash; leverage all of your assets to promote your card; align with existing promotions to get an extra boost
- LizMulti-Merchant or Single > Theme/Category; for this example, let’s go with golf.Since you want to have your reps selling two months ahead, start planning 3-6 months aheadTwo months before launchGive yourself extra time for any stragglersStrive to have the deal wrapped and ready to launch at least a week before launchTest artwork; finalize deal detailsMake a splash; leverage all of your assets to promote your card; align with existing promotions to get an extra boost
- Chaney
- ChaneyOur big pages curate all of the articles we have around a specific topic or theme – and we just added one for deal cardsPlease check out the lab – this is also where we will publish the takeaways for this webinar
- ChaneyUse these templates to give you a guideline For tracking and redemptionThese all have QR codesUnique IDs
- ChaneyEBOOK!Short URL?
- ChaneyAs a site you will choose which fulfillment method your merchants/consumers will receive.We are thrilled to be able to offer both a physical/mailed card as well as on demand printed certificates and mobile redemption
- ChaneyPrinted/Mailed cardQR code for merchant redemption and trackinghuge for merchantfour sided card - size of a business card when foldedtemplates from SSM or create your own with provided dimensions7% plus $5 per card7-10 days for shippingmerchant center for tracking/fulfillment/redemption
- ChaneyMobile/print on demand fulfillment‘card’ on your phone or tablet - merchant chooses offer to redeemprint individual certificates for each offer/serviceimmediate fulfillmentmerchant center for tracking/fulfillment/redemption
- Chaney
- LizWhether you have a deals program or not, these can work for you
- ChaneyContests/sections – use what you are doing and align – maximize promotions
- LizSki, Golf, Spa
- ChaneyDeal Quality is key for a card too
- LizInform teamIncentivize teamGive them the proper resourcesWork Ahead
- Chaney-give your merchant maximum promotion-FEATURE your card-Exciting/new promotion-Stand alone – special promo