2015 Idea Bank Presentation
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How Radio Can Drive Revenue & Measurable Results with Online Promotions
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2015 Idea Bank Presentation
- 1. #PromotionsLab How to Drive Digital Revenue & Generate Leads for Advertisers with Promotions
- 2. #PromotionsLab secondstreetlab.com/idea-bank Promotion ExamplesCase Studies Playbooks & Worksheets
- 5. Source: Borrell Associates $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Online Promotions are Exploding Promotions are a Growing Trend
- 6. D R I V I N G R E V E N U E | 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 STRATEGIES FOR PROMOTIONS
- 9. What’s a Sponsored Contest? Contest Run on Media Company Website, Sponsor Logo Included in Branding
- 10. WKDZ-FM Bathroom Makeover Contest $5K in Revenue 7 Sponsors $6,500 Prize Value Contesting works in small markets!
- 11. WCKX-FM Photo Contest $10K in Revenue Part of a $30 - $40K annual buy Cross promoted Powerfest Deep engagement with audience
- 12. WSB-FM Dream Wedding Contest 10 weddings books $30K for station 500 engaged couples as leads
- 13. WCKX-FM Imported from the D $60K in Revenue 1,200+ new fans 562 new emails 12,000% increase in engagement
- 15. #promotionslab Advertisers Want to Activate Consumers
- 16. 1. Generate Leads 2. Drive Foot Traffic 3. Grow Social Engagement 4. Grow Email Database 5. Collect Data What Advertisers Want
- 17. 1. Generate Leads 2. Drive Foot Traffic 3. Grow Social Engagement 4. Grow Email Database 5. Collect Data What Promotions Do! ✔
- 18. What is An Advertiser Contest? Contest Run on Advertiser’s Page, Media Company Not Visibly Involved
- 19. Why Measurable Results Matter: For your station: You are in control of elements of campaign Encourages repeat business Be the expert in your market $$$
- 20. For your advertiser: Tangible outcomes Measurable results Deliver agreed upon results Why Measurable Results Matter:
- 22. NEEDS ANALYSIS
- 23. Why Do a Needs Analysis? Learn Advertisers Goals Uncover Challenges Build a Relationship Gain Additional Insights
- 24. “How will you measure success?” Questions to Ask High Value “What are your main goals?”
- 26. PICK THE RIGHT PROMOTION
- 27. THE RIGHT GOALS
- 29. Track the campaign • Track results throughout the life of the campaign • Keep in contact with the advertiser
- 30. Following Up
- 34. Next Steps for Advertiser (and You)
- 35. Case Studies
- 36. Grow Email Database Grow Social Engagement Collect Data
- 37. THE SOLUTION
- 38. THE CAMPAIGN Radio Internet Radio Email Display Ads
- 39. THE CAMPAIGN
- 41. RESULTS 1,284 New Likes! 56% entered through mobile
- 42. SURVEY RESULTS Did you know Haydel's Bakery has Gluten Free Options? Yes No Did you know Haydel's Bakery makes King Cakes all year long? Yes No Yes No Did you know we ship worldwide?
- 43. Q2 PROMOTION
- 44. Q3 PROMOTION
- 45. SECRET SAUCE • Valuable insights for the advertiser and lead generation • Mobile database, Facebook, and email database growth • Proof through results
- 46. Drive Leads Grow Social Followers
- 47. The Solution
- 49. #PromotionsLab Generate Leads Grow Email Database Grow Social Engagement
- 50. THE SOLUTION
- 55. SECRET SAUCE • Targeted promotion for a niche audience • Survey questions qualified entrants • Follow-up meeting with client to discuss next steps
- 58. Golf Card KCSP-AM | Kansas City, Missouri $25k
- 59. Email = 66% of Deal Revenue
- 60. 0 50 100 150 200 250 300 350 400 Day 1 Day 2 Day 3 Email Sent Day 5 Day 6 Day 7 Contest Submissions by Day 70% of Submissions The Impact of Email
- 61. Golf Card KCSP-AM | Kansas City, Missouri
- 62. Next Steps
- 63. Needs Analysis
- 64. Pick the Right Promotion
- 67. WHAT NOW?
- 68. Getting Started: Get Trained Promotions University is an online training program designed to help you and your team run successful promotions.
- 69. Contest Sales Planning Contest Sales Deal Sales Learn more at: secondstreet.com/university
- 70. Download our contest planning calendar template and idea bank at: Getting Started: Create a Plan secondstreetlab.com/calendar
- 71. Getting Started: Create Packages Download our sample packages at: secondstreetlab.com/packages
Hinweis der Redaktion
- Slide 1: Thanks for joining us. We have a huge audience for this webinar this afternoon
- SecondStreetLab.com is your go-to place for industry insights, case studies, promotion examples and downloadable tools to help you be more successful with promotions The URL on your screen will take you to a special page on the Lab with content related to this course While you’re there, we hope you'll sign up for our newsletter and follow us on social media
- Matt I am really thrilled that we have Gordon here to kick off the promotions summit. Gordon has been a critical advisor to Second Street over the past 5 or 6 years as we’ve really sharpened our focus on the promotions opportunity. When I first met Gordon and started sharing the success we were having with revenue from contests and email database growth he wasn’t very interested because his research was already beginning to forecast a spike in promotional marketing spend from local advertisers. His forecast was directionally and it has informed our own investment in this space and in turn our guidance to Second Street partners.
- By 2017 that number will double to 80BB! WHY? Because Advertisers want to be a part of promotions because they ignite interactions with potential consumers in ways that traditional advertising alone can’t duplicate Be an expert in this growing trend; you can make yourself the go-to expert for your advertiser Because it is growing, it is not necessarily something your advertiser is familiar with; means a perfect opportunity for you Radio is poised to get more than its fair share but it has to organize itself to do so
- There are 2 different models when it comes to generating revenue from contests The more traditional model is the sponsored model Where you sell sponsorship opportunities to contests that run on your website, allowing them to get exposure to your audience This has been a great model, still one that we highly recommend Tons of media companies generating millions of dollars with these contests
- Online promotions can Solve advertiser’s problems as They want activation, engagement They want to be more engaged with their audience
- TODAY we’re going to talk about this – rather than the contest running on your website or your Facebook Page and you sell advertisers into it – The Advertiser Model is all about them. just putting it on Facebook doesn’t mean it’s an advertiser contest – it’s their contest not yours. You are an “agency” running this contest for your advertiser on their page Client-focused objectives Client pays for promotion Client provides the prize Single Like-gate + email opt-in This doesn’t mean you should stop running sponsored contests – keep doing those – you guys have been making a lot of money We’re talking about an opportunity to ADD to revenue by offering a different service If you have an agency, this is a great thing to offer – if you DON’T, no worries, - these are just agency-like services you can offer
- The needs analysis conversation is one of the most important parts of the sales process, and it’s also the one that is skipped the most often. Relationship selling doesn’t cut it anymore for advertisers – your advertisers see so many reps, and they have so little time; you have to be the one that brings solutions to them.
- The goal of a needs analysis conversation is not to go in and sell a spot or an ad – the goal is to understand your advertisers' challenges and goals and to determine how you can move the needle for them in your market by asking the right questions Learn what advertiser wants to accomplish Uncover challenges Build a relationship Gain insights that will help you suggest the right promotion type
- The most important questions you will ask your advertiser are “what are your main goals” and “how will you measure success?” Always start here when talking to your advertiser during the needs analysis stage. These questions will give you the essential information you need to make a good recommendation Plus, taking the time to ask these questions with the advertiser ensures that you will bring relevant results to the follow-up meeting after the campaign has run.
- There's nothing more valuable to an advertiser than a promotion, but it's important that you pitch the right promotions to the right advertisers.
- Set goals that are measurable and within your control. Each of your advertisers will have different needs and goals, and while you can include survey questions or an email opt-in on the registration form of any promotion you run, each type has its own particular strengths. If multiple promotions would work for an advertiser, pitch an ongoing campaign to solve all their challenges.
- Tracking, keep in touch w/ advertiser
- This is a stage many sellers overlook, so separate yourself from the pack and show your advertiser that you’re a true asset to them and informed. It is also critical to building the relationship and demonstrating the effectiveness of your media Here are a couple of tips for things you’ll want to bring with you and do at the follow-up meeting
- Delivering measurable results with promotions renders you invaluable to advertisers, and sets you up to grow your business with them going forward. thnk about how powerful it will be for you as a media company to be in complete control of the questions advertisers ask like: "was it successful“? and "did it deliver the results they expected". ?
- So what is next? Since you’ve delivered results for the advertiser – continue the discussion – what is on the horizon for them in the next quarter? How can you continue to drive results!?
- Remember Promotions deliver results. So the next steps is to determine what your next move will be with the advertiser – another promotion, how they can build on the results they delivered, what can your media company do to help them continue to achieve their goals
- Let’s jump right in!
- matt
- Matt WEZB-FM Entercom New Orleans
- Matt
- matt
- matt
- matt Growth was exponential
- matt
- Matt
- Julie
- matt
- Matt the contest received 359 entries, which was a great result, especially considering the small niche to which we were marketing and the fact that the audience for hearing aids skews older. 45% of all contest entrants) said that they plan to purchase a hearing aid within the next year, and of those, 54% plan to finance their purchase. 96 respondents (26% of entrants), also indicated that they would be interested in a Lunch & Learn event.
- Matt
- matt
- matt
- Matt the contest received 359 entries, which was a great result, especially considering the small niche to which we were marketing and the fact that the audience for hearing aids skews older. 45% of all contest entrants) said that they plan to purchase a hearing aid within the next year, and of those, 54% plan to finance their purchase. 96 respondents (26% of entrants), also indicated that they would be interested in a Lunch & Learn event.
- Matt 217 people (60% of entrants) opted in to receive emails from the Audiology & Hearing Center and 55 people (15% of entrants) indicated that they would like to have someone from the center contact them by phone.
- Matt
- Matt
- $200 card for $99 $25,000 in revenue 8-12 Different Courses Round of Golf at EACH participating course Some Restrictions are Acceptable Must pay cart fee Focus on categories that have mass appeal. You want your card to appeal to a wide audience, so focus on categories like golf, ski, and dining. Get the same offer from each merchant. If you are building a golf card, make it a round of golf at each course on the card. If you’re doing a ski card, make it a lift pass at each resort. For a dining card, offer a $25 punch at each restaurant. No matter what, the offer needs to be a clean spend, and the same price point for each merchant.
- We consistently find this stat to be true across the board. 2nd street works with 100s of major media companies and seeing this consistently
- Quad City Times Advertiser Facebook Sweepstakes “Win Dinner for 10 at Red Lantern” July 1-9 collected submissions 517 total submissions 355 came the day the email was sent 70% of contest entries came from the email
- $200 card for $99 $25,000 in revenue 8-12 Different Courses Round of Golf at EACH participating course Some Restrictions are Acceptable Must pay cart fee Focus on categories that have mass appeal. You want your card to appeal to a wide audience, so focus on categories like golf, ski, and dining. Get the same offer from each merchant. If you are building a golf card, make it a round of golf at each course on the card. If you’re doing a ski card, make it a lift pass at each resort. For a dining card, offer a $25 punch at each restaurant. No matter what, the offer needs to be a clean spend, and the same price point for each merchant.
- So how do you deliver the kind of results that brandy, sara and Jamie have delivered in their markets?
- REmember - relationship selling doesn’t cut it anymore for advertisers - so many reps, so little time; you have to be the one that brings solutions
- Contest, Facebook? Ballot? Ecommerce offer? Align your advertisers goals with the right promotion type to fufill them.
- Remember what Gordon Borrell said at the beginning of our webinar? “Advertisers want results you can measure those results with promotions.”
- Share those measurable results. You have had the needs analysis – you know what the advertiser wanted to get out of the promotion. You are in a position to share the success with them! Use those results as a tool to secure more business and to gain TRUST through proof of results.
- WANT MORE REVENUE? GET CERTIFIED AT PROMOTIONS UNIVERSITY! Introducing a one-of-kind promotions certification program where you learn to plan, sell and execute a wide variety of online promotions based on best practices from thousands of partners across all media types and markets sizes
- These are the courses we offer Get trained on how to sell promotions effectively.
- Create a calendar! Develop and implement a promotions plan that includes a calendar and a goal for revenue & database growth.
- Set revenue goals
- SecondStreetLab.com is your go-to place for industry insights, case studies, promotion examples and downloadable tools to help you be more successful with promotions The URL on your screen will take you to a special page on the Lab with content related to this course While you’re there, we hope you'll sign up for our newsletter and follow us on social media