Planning Your Revenue-Generating Promotions Strategy for the Year
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One of the best ways to succeed with online promotions is to form a year-long strategy and build an integrated promotions calendar that incorporates contests, ballots, deals in with your calendar.
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Planning Your Revenue-Generating Promotions Strategy for the Year
- 1. #PromotionsLab 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 Planning Your 2014 Promotions Calendar September 23, 2013
- 2. #PromotionsLab Presenters Julie Foley Director of Affiliate Success - Contests Second Street julie@secondstreet.com @julie_foley Matt Chaney Director of Affiliate Success - Deals Second Street chaney@secondstreet.com @mattchaney
- 3. #PromotionsLab How to Interact with Us GoToWebinar™ Questions Panel Twitter Hashtag: #PromotionsLab Note: We are recording this webinar and you will receive an email with links to the recording and the slide deck.
- 4. #PromotionsLab Who We Are Increase ROI, Build & Engage Audience
- 6. #PromotionsLab Agenda • Why Planning Matters • What to Plan • How to Plan • Recap • Key Takeaways • Q&A
- 7. #PromotionsLab 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 WHY PLANNING MATTERS
- 8. #PromotionsLab Planning…You Know You Should Do It
- 10. #PromotionsLab “If you don't know where you are going, you'll end up someplace else.” -Yogi Berra On Planning…
- 11. #PromotionsLab
- 12. #PromotionsLab 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 WHAT TO PLAN
- 16. #PromotionsLab
- 17. #PromotionsLab KY3 TV, Summer Fun Store 2x Avg. Store Price vs. Daily Avg. 50% of July’s Revenue from Store
- 18. #PromotionsLab Top Deals Store 2012 Quad-City Times Davenport, Iowa Cyber Week Store $154,835 Gross 77 Deals 8,086 Sold Great Promotional Package!
- 19. #PromotionsLab Top Stores of 2012 1. Holiday/Stocking Stuffer 2. Cyber Week 3. Golf 4. Destinations/Travel 5. Father’s Day 6. Mother’s Day 7. Home Improvement 8. Kids/Family 9. Summer Adventures/Recreation 10. Best Of
- 20. #PromotionsLab Deal Cards are Here! New Deal Product for Second Street! Multi-Merchant or Single-Merchant High Price Point + Great Value Choose your fulfillment
- 21. #PromotionsLab Deal Cards • UpNorthLive.com – Traverse City, MI – NBC/ABC Station – DMA 119 • Multi-course cards • 1 Round per Course • Big promotional package • $99 per card Over $175K & Growing This Year
- 22. #PromotionsLab
- 24. #PromotionsLab
- 25. #PromotionsLab Top Contests of 2012 1. Kids/Babies 2. Custom Sports 3. Sweepstakes 4. Couples 5. Talent 6. Pets 7. Mother’s/Father’s Day 8. Goodwill 9. Halloween 10.Advertiser
- 26. #PromotionsLab Pro Football Contest The State Journal-Register Springfield, OH 50,000 circulation
- 27. #PromotionsLab The Daily Advocate Greenville, Ohio 7,000 circulation Fair Photo Cover Contest
- 28. #PromotionsLab Fair Photo Cover Contest Contest and magazine seen as integral part of the fair Result: $100k in revenue
- 31. #PromotionsLab Promo Codes Case Study: Creating Buzz & Sales 8x increase in new opt-ins vs. 2013 daily avg. 10x increase in revenue vs. 2013 daily avg. Facebook Post Email
- 32. #PromotionsLab Promo Code – Inactive Buyers 970 Individual deposits $25K Purchased by depositors
- 33. #PromotionsLab Record Journal - Free Deals & Opt-ins 2012 Daily Opt-ins
- 35. #PromotionsLab Sweepstakes This contest had amazing results in terms of online entries – over 57,000 submissions in 8 weeks! It shows how much our readers love to engage with the newspaper and how many are willing to pick it up to enter a contest.” - Christina Chan, Sales Promotion Supervisor 57,359 Entries 32,691 Opt-ins 27,591 Advertiser Opt-ins “ Porter Escapes Toronto Sun | Toronto, Ontario
- 36. #PromotionsLab Sweepstakes 674,417 Entries 1,588,792 Page Views Social Boost enabled Workshop Makeover Sweepstakes Popular Woodworking| Cincinnati, OH
- 37. #PromotionsLab Sweepstakes 17,361 Entries 12,294 opt-ins 71% opt-in rate! Umbrella Giveaway WSAZ| Charleston, WV WSAZ runs this contest every year and our audience loves it. We are able drive traffic to our site and grow our email list with this big promotion and every year its better than ever!” “ - Jack Deakin, Digital Sales Manager
- 38. #PromotionsLab Putting All of the Pieces Together
- 39. #PromotionsLab North Platte Telegraph, Store + Contest
- 40. #PromotionsLab North Platte Telegraph, Store + Contest 37% of total monthly revenue from store deals 2x doubled average monthly revenue in May
- 41. #PromotionsLab North Platte Telegraph Contest + Store Contest Results • Opt-ins for Deals program • Prizes – Gift cards • 71 entrants • 2,200 votes cast
- 42. #PromotionsLab Washington Post, Contest + Free Deal 42
- 43. #PromotionsLab 43 Washington Post, Contest + Free Deal
- 44. #PromotionsLab Killeen Daily Herald, Contest + Store Contest Results • Contest traffic 2nd highest to homepage • Prizes – Hotel stay + Deal Credits • 100 entrants • 6,000 votes cast • KDHcutestcouple.com
- 45. #PromotionsLab Killeen Daily Herald, Contests + Store Store Results • 4x increase in daily database growth average • Cross-promoted store on contest page • Store revenue alone surpassed previous February • Total Gross: over $12K
- 46. #PromotionsLab $4,000 Revenue Quad City Times Revenue + Audience
- 47. #PromotionsLab Next month Next 3 months Next 6 months When are you considering a new vehicle purchase?
- 49. #PromotionsLab Ballot The Roanoke Times Roanoke, VA 90,000 circulation
- 51. #PromotionsLab 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 HOW TO PLAN
- 53. #PromotionsLab Put a Team Together 2
- 56. #PromotionsLab Excite Your Sales Force 5
- 57. #PromotionsLab 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 GAMEPLAN
- 59. #PromotionsLab Contests: Revenue Growth • Minimum of 2 per year • Multi-month promotion locks advertisers into longer contracts • Pro Football, College Basketball, Auto Racing Managed Sports • Minimum of 2 per year • Look at the top 10 list for ideas • Kids, Sweepstakes, Couples • Align with special sections/deal stores Custom
- 60. #PromotionsLab Contests: Audience Growth & Engagement • Run as many as you can! • Run ahead of a big promotion (deal store) • Utilize “Thank You” codes and survey questions Sweepstakes • Minimum of 2 per year • Metro + Niche Ballot • Align with programming or special section (e.g. Holiday Shopping or Football) Ballots
- 62. #PromotionsLab Deals: Revenue Growth • Min. 2 per year • Reserve for big events, seasonal promotions • Cyber Week/Holidays, Golf, Summer Fun Stores • 2 per year – look at your seasons • March - Golf • September – Ski, Spa Cards
- 63. #PromotionsLab Deals: Audience Growth & Engagement • Min. 2 per year • Send ahead of a big promotion • Engage inactive buyers with a targeted code Promo Codes • 1-2 per year • Free Deal goal – making a big splashFree Deals
- 64. #PromotionsLab Stores & Cards Free Deals & Credits Contests Sweepstakes Ballots January Free Deal Kids February Golf March Card: Golf Card Basketball April Mother’s Day Contest May Promo Code: Inactive Buyers June Summer Fun Metro July Store: Summer Fun Pets August Free Deal September Football (Sept-Feb) Spa October Card: Spa Card Halloween Holiday November Promo Code: Inactive Buyers Holiday Shopping December Store: Cyber Monday/Holiday Store
- 65. #PromotionsLab 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 TAKEAWAYS
- 66. #PromotionsLab 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 TWO PATHS OF GROWTH
- 68. #PromotionsLab 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 FOLLOW THE TWO MONTH RULE
- 69. #PromotionsLab
- 70. #PromotionsLab 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 EXCITE YOUR SALES FORCE
- 71. #PromotionsLab
- 72. #PromotionsLab 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 DON’T WORK IN SILOS
- 73. #PromotionsLab
- 74. #PromotionsLab
- 75. #PromotionsLab Upcoming Webinars - Ballots Strategies for Making Money - Tuesday, October 1st, 1pm EST Ideas for Year-Round Ballots - Tuesday, October 8th, 1pm EST Voter’s Choice Overview - Thursday, October 31st, 1pm EST
- 76. #PromotionsLab Upcoming Webinars - Deals Thursday, October 3rd, 1pm EST
- 77. #PromotionsLab
- 78. #PromotionsLab Questions? Julie Foley Director of Affiliate Success - Contests Second Street julie@secondstreet.com @julie_foley Matt Chaney Director of Affiliate Success - Deals Second Street chaney@secondstreet.com @mattchaney
Notes de l'éditeur
- Julie
- ChaneyComment & questions on TwitterQuestions RecordingSurvey at the end – your feedback is welcomed
- Chaney
- You know you should. Like your vegetables.We going to give you a 5-step plan to make it easy.Just make promotions a part of your regular discussion.
- If you don’t have a plan, you could find yourself hanging – which leaves you vulnerable to hasty and unstrategic decisions
- If you don’t put the right pieces in place, you’ll never reach your goal; these things don’t happen magicallyWe all have the wish to grow revenue, so let’s talk about the ways you can do that
- We want you to “Get it right the first time.”So, we’re going to talk about about what to plan and how to plan
- DEAL QUALITYDeal quality always mattersNever run a deal just to fill your calendar; with planning, you can be more strategic and thoughtful with your calendarGoal: Great deals tailored to your audience in the right season
- KY3Springfield, MOReally understand the power of seasonal promotionsStore Details7/8 – 7/22, two weeks14 deals, 11 of which were recreation dealsTotal Gross Revenue: $43K ($87K for the month)PriceStore: $32 vs. Daily Avg. $17
- Matt$39K in promotional value – well worth the investmentThis is almost double what they did last year! They’re laser focused on deal quality, planning and doing strategic stores that make sense
- MattHalf tied to a holiday or specific seasonHalf evergreenLots of good ideas. All of these are solid choices.#10 is going to be a lot higher on this chart in 2013. Seeing lots of sites experiment with this. Look for an upcoming article on two great examples on the SS Lab.
- -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
- Weekdays + after noon on weekends“Local” season instead of peak seasonDepending on the market, you could multiple cards per year1 salesperson to focus on it; give to junior repGolf courses - no regular spenders; new revenue$99+ Limited inventory – they commit to x number of rounds of golf per courseValid through the season – launch in April valid thru SeptemberBIG promotional package – sports-focused content; golf programing is ideal; golf special sectionGolf is a sharable deal – people don’t golf aloneRound of golf costs them nothing – upsell on cartTrade deal (unless a single course – that’s a revshare)
- MattHalf tied to a holiday or specific seasonHalf evergreenLots of good ideas. All of these are solid choices.#10 is going to be a lot higher on this chart in 2013. Seeing lots of sites experiment with this. Look for an upcoming article on two great examples on the SS Lab.
- This model has been proven to work in markets large and small23 weekpro football pickem contestSo many sponsors that the paper went from a double truck each week to a FOUR PAGE PULLOUT each week. For 23 weeks. Tied back in with the contest that was running online. ability to integrate an online solution with a print solution allows this to become a $100k solutionCombination of the power of integrated campaign: email, online, being a VIP picker and in a double truck ad. $100k in revenueSecured 30 sponsors & advertisersProviding results for advertisers with FREQUENCY element and leveraging this plan for additional sales.
- Sponsored by Second National Bank, Local Ford Dealer & the Great Darke County FairCommunity sees contest as integral part of the fairWe have been running the Fair Photo Cover Contest for three years now,It began when we were trying to come up with some good contests; it just made sense and gave us a local focus. Since that first year, entries have doubled. Because the contest is so popular, it is very easy to find sponsors. We focus on banks, local restaurants, grocery stores, and locally owned and operated small businesses. During the fair, people come to our booth just to pick up the magazine and flip through the photos from this year’s contest.
- By this point, due to the Fair Photo Cover Contest and our extensive coverage of Fair Week events, the community sees us as an integral part of the fair. Even the Fair Board has started to look to us for ideas about how to successfully promote and manage fair giveaways! We’re certainly looking forward to next year’s Fair Photo Cover Contest. 100k in rev
- The Lexington Herald-Leader92K Circulation18K Deals DatabaseDaily Avg. Revenue - $641 vs. $6,330Daily Avg. Opt-ins – 11 vs. 88Only promoted to email database and social mediaCredit DetailsSunday SavingsAvailable for one day – most of them were used between 2pm and midnight480 deposits Last minute push to help them get their revenue goal – $6,305 in sales, 731 deals sold
- MattPromo CodeCan be unique or a shared code – like “holidays13”30% of audience are active buyersCincySavers.comRadio cluster in Cincinnati, OHDeposits – 970Sent to: 24K subscribersIncreased active buyers % by a couple of pointsBut most importantly$9,700 investment results in over $25K in purchases, netting them $16K in incremental revenueNearly 1,500 purchases made – averaging 1.5 purchases per person
- Promos vs. Daily Average4x over average30% of opt-ins for the year came from three promotionsMarchSome really big deals ran during the same weekLittle CaesarsMarch 21-27 – free pizza from two diff. locations 1,206Sonic - 1,173 totalMay (7-15) – breakfast burrito or jr. sundae, 539 given awayDecember (3-17) – regular burger or ice cream, 634Target a business that reaches the audience that you want to reach or just go broadDon’t repeat the same promotion too often
- One umbrella a week for a monthAnnounce winners on the news – growing online and on air audience!
- Great name – Big Honking DealsThey run weekly dealsWent from 4 to 9 deals for the monthPromoted it through all channels – social, print, online ads…and even a contest
- 6 Deals5 MerchantsStore ran three days$2,000 GrossTotal May: $5,370Sales TipThey set up their deals as an entry point for other productsMerchants have a choice whether to get a 50/50 revsplit or 100% of gross proceeds (really 93%) towards future advertising
- Promotions:Cover wrap on The PostCover wrap on our free daily650,000+ emails to various local listsResultsSocial sharing drove over 23% of claimsGrew Facebook fans by 149%65% of claims were new signups to The Capitol DealSurrounding deals that week averaged 2x a typical deal
- Nathan is a one-man show - So he uses the templates smartly that we provideTop prize Romance Package at Hilton$100 deals creditSecond Prize$75 deals creditsDaily 34 during contests vs. 7 daily in 2012 as a whole$15K for Mother’s Day
- Nathan is a one-man show - So he uses the templates smartly that we provide – Top prize Romance Package at Hilton$100 deals creditSecond Prize$75 deals creditsDaily 34 during contests vs. 7 daily in 2012 as a whole338 new $15K for Mother’s Day
- Here’s a great exampleAuto Dealer gets his own contest on July 9, - $14k package for next monthGoogleAdWords, YouTube Pre-RollsThe contest was $4k - fun prize, enter for your chance to drive a new Ford Mustang convertible for 2 weeks’will have an email opt-ins, and ask some simple survey questions - what make and model do you drive, are you looking to buy a car
- 448 entrants, 30 people said next 3 months, 13 people said next month, 12 people said 6 months, TALK ABOUT HOT, QUALIFIED LEADS
- 209 people signed up to receive more information from Reynold’s Ford
- LaunchedSept 3rd – go online and check it out! 2nd year of holiday best ofBest ofs work really well and they needed more of these types of promotions on their calendar19 counties in their footprints – huge market area. lots of boutiques - SMBsNeeded something for holidays to tap into these retailersAlso needed to breathe new life into their Holiday Gift Guide published in early NovThe holiday gift guide has Editorial around Shopping, Entertaining, Events, Parties, Decorating, Recipes and they wanted a way to crowd source some of that information to make the print piece more exciting.Created this LOCAL shopping ballot Voting Categories Shopping Local Bargain Hunting Specialty Shopping Holiday Décor Holiday Pampering Holiday Entertaining 39 subcategories For Voters To Tell Us Who’s The BEST What’s new this year: Mobile friendly Faster vote tabulation and voter tracking Ability to offer enhanced listings to grow Social Media audience and drive website traffic Collecting opt-ins for deals program
- Customized POP displays – poster, flier, biz cards, post cards, facebook cover photo, icons, images, logos of various sizes, buttons, table tentsCall it “Promote the Vote” use it as a lead generation tool to reach out to merchants for enhanced listingsPrint ads for gift guideThis year they are selling online ads, Facebook PPC, ENHANCED LISTINGS and Finalists/Top Performers in a Holiday themed store!!Goal is $70k this year! Adding Deal revenue on top of that and this could be a $100k promotion in 2013!The power of the print gift guide is something that TV and Radio can’t duplicate. You have an unfair advantage over them. Lets take a look at another one!
- Revenue growthTarget a new audienceEngage an existing audienceTarget a niche audienceIncrease your per deal revenue
- Full Promotions Team:MarketingSalesEditorial/Newsroom/Promotions ManagerITSupport
- Look ahead two monthsConsider external factorsConsider Internal factorsHistorical data and trendsAlign with other company goals, efforts (sales, marketing/promotions, newsroom)Train your team on the power of promotions (sales/marketing)
- Excite your sales teamCreate sales materials to make it easy for repsGive spiffs and bonusesMake promotions a part of the regular sales meetingHave a sales blitz
- Work ahead - target advertisers when they’re planning ad budgets, not during their peak seasonGive your reps a roadmap Help build your roster of deals with multi-deal contracts – campaign for the year versus a single dealMore easily plan your next deal store or site themeMeans having a per deal revenue goal in mind
- Excite your sales teamCreate sales materials to make it easy for repsGive spiffs and bonusesMake promotions a part of the regular sales meetingHave a sales blitz
- But your promotions shouldn’t live in a silo - TIE PROMOTIONS IN WITH WHAT YOU’RE CURRENTLY DOING