How to Increase Your Revenue with Deal Cards
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To learn how to make the most of this opportunity to generate significant revenue with deal cards, watch a recording of our Strategies for Making Money with Voter’s Choice webinar below, for which we were joined by Shawn Wilcox from UpNorthLive.com (they’re on track to make more than $200K with deal cards this year!).
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How to Increase Your Revenue with Deal Cards
- 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 How to Increase Your Revenue With Deal Cards Thursday, October 3, 2013
- 2. # #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.
- 3. # #PromotionsLab Who We Are Increase ROI, Build & Engage Audience
- 5. # #PromotionsLab Speakers Matt Chaney Dir. of Affiliate Success @mattchaney Liz Crider Affiliate Success Manager @emcrider Shawn Wilcox VP & Dir. of Sales UpNorthLive.com
- 6. # #PromotionsLab Agenda • Overview of Deal Cards • 5 Steps to Card Success • 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 OVERVIEW OF DEAL CARDS
- 8. # #PromotionsLab What are Deal Cards? REDEEM THIS CARD O ne Manicure O ne Pedicure O ne Facial O ne 60 Minute Massage 25% off Products Inside
- 9. # #PromotionsLab Why Deal Cards?
- 10. # #PromotionsLab Benefits of Deal Cards Site ConsumerMerchant
- 11. # #PromotionsLab Success Story – KTVZ & KFXO: Bend, OR Back Inside
- 12. # #PromotionsLab Success Story – WKTV: Utica, NY Back Inside
- 13. # #PromotionsLab Success Story – The Fresno Bee Full-Page Ad
- 14. # #PromotionsLab Success Story – UpNorthLive.com
- 15. # #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 5 STEPS TO CARD SUCCESS
- 16. # #PromotionsLab 5 Steps 1. Pick card theme and prospects 2. Create deal structure 3. Set a launch date and schedule 4. Choose your fulfillment method 5. Sell your deal cards
- 17. # #PromotionsLab Pick Card Theme & Prospects 1
- 22. # #PromotionsLab Create Deal Structure 2
- 23. # #PromotionsLab Revenue Structure Multi-Merchant Card Single Merchant Card
- 24. # #PromotionsLab Importance of the Promotional Package
- 25. # #PromotionsLab Incorporate your advertiser’s logo and name wherever possible Show the value of everything included Think outside of the box – showcase your unique attributes Use all assets available to you Tips for Creating Your Promotional Package
- 26. # #PromotionsLab UpNorthLive: Promotional Package
- 27. # #PromotionsLab Set a Launch Date & Schedule 3
- 28. # #PromotionsLab Golf Card Optimal Launch Date: Q4 – to take advantage of the holidays Schedule: Can be live for up to 12 months Feature and refeature throughout the year
- 29. # #PromotionsLab Ski Card Optimal Launch Date: Q3 & Q4 – actively selling now Schedule: Shorter window than golf November thru March
- 30. # #PromotionsLab Spa Card Optimal Launch Date: Can run any time - evergreen Schedule: Time ahead of holidays to maximize gifting potential Coordinate with merchant
- 31. # #PromotionsLab Choose Your Fulfillment Method 4
- 35. # #PromotionsLab Sell Your Deal Cards 5
- 36. # #PromotionsLab Impact of a Focused Sales Effort Months in GREEN are ones with a dedicated rep
- 37. # #PromotionsLab Excite Your Sales Staff Show them their earning potential Give them great sales collateral Focus them on top prospects Kick off sales efforts with a blitz or contest
- 39. # #PromotionsLab WXYZ is teaming up with just 10 local golf courses to create the first annual Half Price Golf Tour! In exchange for 300 18-hole rounds of golf WXYZ will provide an estimated $76,000 in television and online exposure for participating courses! •ONAIR- Logo inclusion on minimum of 25 promotional :15 commercial spots per week for 4 weeks VALUE: $45,000 •ONAIR– The Golf Tour Card will be featured in the News at Sunrise, AND Sports Plus weekly throughout the campaign VALUE: Priceless •YOUR CHOICE – You will receive a bank of $5,000 to spend at your discretion onair or online VALUE: $5,000 • Direct Email - Branded email messaging to minimum of 60,000 subscribers promoting participants and the Tour Card VALUE: $10,000 • ONLINE - Logo and offer inclusion on Golf Tour banner ads with minimum of 400,000 impressions VALUE: $12,000 • Dedicated Webpage –course logo, website link and contact information listed on dedicated campaign webpage where viewers can purchase cards VALUE: $1,000 • Social – Golf Tour will be promoted on Facebook and Twitter feeds a minimum of 2x/week VALUE: $4,000 (min 4 weeks) Total Value: $76,000 Total Investment: 300 rounds of golf GREAT Sales Collateral
- 41. # #PromotionsLab Kick-Off Your Sales
- 42. # #PromotionsLab UpNorthLive: You Create the Rules & Terms
- 43. # #PromotionsLab UpNorthLive: Sales Approach
- 44. # #PromotionsLab Now Go Sell!
- 45. # #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 TOOLS FOR SUCCESS
- 46. # #PromotionsLab This is Available Now
- 47. # #PromotionsLab Second Street Lab Big Page
- 48. # #PromotionsLab We Have Templates for You! SPA CARD
- 49. # #PromotionsLab
- 50. # #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
- 51. # #PromotionsLab Use Cards to Grow Your Digital Revenue
- 52. # #PromotionsLab Start Now – Capitalize on Holiday Sales
- 53. # #PromotionsLab Only Focus on Top Merchants
- 54. # #PromotionsLab Create a Robust Promotional Package
- 55. # #PromotionsLab Excite Your Sales Team
- 56. # #PromotionsLab Questions? Matt Chaney Dir. of Affiliate Success @mattchaney Liz Crider Affiliate Success Manager @emcrider Shawn Wilcox VP & Dir. of Sales UpNorthLive.com
Notas del editor
- ChaneyComment & questions on TwitterQuestions RecordingSurvey at the end – your feedback is welcomedWhomever tweets the most using the hashtag will get a killer prize!
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- 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
- ChaneyDeals Program - New and unique offeringDiversifies your pricingProduct geared towards advertisers you may not be working with – new digital revenueProven track record - THEY WORKRight categories for deals and especially so with cardsbig revenue a few times a year - who doesn’t need that
- LizSiteSold at higher pricepoint than regular deals resulting in a higher roiStand-alone digital revenue opportunityMultiple offers on category-specific cardMerchantBig promotional packageAd credits they can use later in the yearDeal gets ppl to course, 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
- ChaneyMarket Size: 193Type of card: Golf CardGross Revenue: $25,000Title Sponsor: $2,500Title Sponsor: Sauce companyDetails: $89 and sold 250 cardsBend, OR Insights30 courses – big golf marketOnly allowed 5 to participate
- LizMarket Size: 172Type of card: Ski CardGross Revenue: $16,000 to dateTitle Sponsor: Bikes and Boards Title Sponsor: ?Details: $99 ($270 value) and sold 161Utica, NY InsightsRegular campaign each yearAlso, do a golf card that generates over $30K annuallySignificant chunk of their digital revenue
- ChaneyMarket Size: 140,000 circulationType of card: GolfGross Revenue: $39,000Kept 100% of revenueDetails: Winter/Spring + Summer/Fall; $39 for $270Fresno, CA InsightsSold exclusively on dealsaver, offered print and online advertising to golf courses in exchange for participation in golf card, on-going sales, no revenue share. Did not cannibalize on any existing golf deals that were offered, did not hinder golf courses from participating on the golf card and running their own separate deal.You provide merchant tons of promotion + a future bank of ad credits in exchange for keeping all revenue from the deal
- ShawnMarket Size: 119Type of card: GolfGross Revenue: $175K+Details: $99 Traverse City, MI Insights2014 card launching in NovemberExpecting $225K this year in cardsGross and net are the same thing for usSelling 3 regional cards at one time51 courses
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- Chaney-Deal Quality is the #1 consideration when it comes to Deal Cards – so only target the best of the best for this program as well.Liz wil walk us through some of the basics of putting your card together and some prospects to consider-For multi merchant cards – focus on 8-12 different participants/merchants all offering the same offer – round of golf/ski lift-For single merchant cards – focus on really upscale/high end spas – build a card that offers a variety of services from one spa for one higher price point (still discounted 50-60%)-Often one seller on the team will focus on selling this program as they are usually all new prospectsSTEPS TO SELLING A DEAL CARD1. Plan. Determine which kind of card – single- or multi-merchant and the deal category. For our example, let’s consider a multi-merchant golf card.2. Prospect. Deal quality is still #1, so you still want to be targeting the best golf courses with the most mass appeal. Come up with a list with a good mix of locations.3. Package. Come up with sales package that offers significant value to your merchants, including unique placement opportunities and traditional media exposure.4. Pitch. When you approach your prospects, present your sales package and keep your offer simple. You know in advance how many cards you will be creating, so you can ask your merchant for a specific number of deals. In the golf card example above, you can ask for 500 single rounds of golf rather than an unlimited number. You also want to be sure to remind the merchant of the upsell opportunity when people come in to redeem their card.TITLE SPONSORSHIPSWith multi-merchant cards, you also have the option to sell a title sponsorship – an overall sponsor that will have exposure on all elements of the campaign for a cash investment
- 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
- 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
- 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 pointOpportunity for title sponsor: noTop prospectsLocal spas, hotels, multi-location spas, upscale spa, any spa with the capacity to handle high volume
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- LizMulti merchant cards straight trade modelmerchant receives inclusion in extensive promotion of the card throughout the lifetime of the cardmerchant receives a small ‘bank’ to spend at their discretion as a bonus for participationSingle merchant cardswhile there is still a LOT of promotion involved, since this is a single merchant you can also do a revenue split if desiredusually a lower percentage goes to merchant since they are getting so much promotion and exposure75% to site and 25% to merchant
- 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
- LizAd bank?
- ShawnWhat advertisers get-promo donut spots-landing page on website-links to their website-feature one-hole in sports cast each nightWhat we get
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- Shawngolf cards have a long shelf lifeLearned from experience that selling it early doesn’t cannibalize Q1 Optimal launch dateQ4: to take advantage of holidaysOngoing scheduleLive for up to 12 months: Nov thru Sept.Build up to golf season in early 2014 and throughout the yearSeason end sale; lower the priceThink of it as a 2014 model that you release in late 2013 - keep it going through spring. If you have more cards by mid summer - mark the price and refeature again
- Shawnski season is pretty consistent - now is the time to be talking to those resorts and get those cards up and running ASAPin the right market - you have about 4 months to really capitalize on ski season - so make sure you feature for a long timeOptimal launch dateNow – Q3/Q4Nov 1 – until they stop selling (end March)Ongoing PromotionShorter window than golf4 monthsSeason end sale; lower the price
- Lizsingle merchant cards can really run anytime that work for you and the merchantdefinitely launch around holidays - Christmas, valentine’s day, mother’s dayCyber Week store is ideal for your first spa card
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- LizAs 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
- LizMobile/print on demand fulfillment‘card’ on your phone - merchant chooses offer to redeemprint individual certificates for each offer/serviceimmediate fulfillmentmerchant center for tracking/fulfillment/redemption
- ChaneyExcite 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
- Chaneysuccessful deals programs are those with the right sales focuschart shows the results of having a dedicated repCards like deals can really benefit from a focused effortFor those of you not able to have a dedicated rep, Liz is going to walk us through some steps to excite your sales staff
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- LizGiving them a big carrot will result in your successThey will “own” if you make it appealing to thembig participants = big revenueshow the potential commissions associated with a great card that will sell well$50,000 per card - 15% commissions = $7,500 to AE$75,000 per card - 15% commissions = $11,250 to AEif multiple AE’s sell into card - divide total commissions by number of participants they brought to the card
- LizKeeping your rep(s) informedFocusing them on key selling pointsKeep the message simple for merchants and reps
- ChaneyDeal quality still remains the number 1 focusTop merchants that are really going to draw people inAll of these categories are great for deals and for cardsMass appealFun categoriesSocialGo after some new customers!
- ChaneySales contestsSales blitzIdeasMake it funBring in lunch/breakfastHave a leaderboardPrize for most salesPrize for securing a key target account
- Go in with confidence – take it or leaveBe proactive NOT reactiveManage it like a projectCreate a plan/project and executing it start to finishSet the deadlineSet the boundariesSet the requirements to participateAnd enforce themFocuses your sales rep or team
- Single rep sells everythingDo the mathWhat’s your end game – don’t be afraid to pay to get to your goalIf you want to make a $100K with your card, what’s it going to take to get there?Factor close ratioThree different cards by regionWhat you learned from the first couple of times you did it?Emphasize opportunity for continued relationship and hand off to core reps
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- LizChoose your offer type – new option for deal cardLet’s you include multiple offersIf you choose physical card, we will handle the printing and delivery for you and mail the card directly to the consumer
- 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
- LizFor tracking and redemptionThese all have QR codesUnique IDs
- ChaneyEBOOK
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- LizWhether you have a deals program or not, these can work for you
- ChaneyTake advantage of all of the online spending going on; give your audience a great gift option for their loved ones
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