Borrell's Crystal Ball: Promotions Are the Future
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Borrell's Crystal Ball: Promotions Are the Future
- 1. #PromotionsLab BORRELL’S CRYSTAL BA Promotions are the Future: Here’s How to Benefit
- 2. #PromotionsLab Presenters Matt Coen President & Co-Founder Second Street @mcoen Gordon Borrell CEO Borrell Associates @goborrell Jim Brown Sales Director Borrell Associates @jimbrownmedia Julie Foley Director of Affiliate Success Second Street @julie_foley
- 3. #PromotionsLab Follow @secondstreetlab & @borrellassoc on Twitter! Want to win an exclusive prize? Be the one who tweets the most with the hashtag #PromotionsLab Note: We are recording this webinar and you will receive an email with links to the recording and slide deck. Questions & Twitter
- 7. #PromotionsLab Ad Spending is Declining Source: Borrell Associates, Inc. 2013 $ in Billions In 2012, businesses spent 6% less on advertising than they had a decade earlier.
- 8. #PromotionsLab Promotions Are Increasing Source: Borrell Associates, Inc. 2013 $ in Billions In 2012, they spent 88% more on promotions than they had a decade earlier.
- 9. #PromotionsLab Source: Borrell Associates, Inc. 2013 Local Ad And Promo Spending Compared
- 10. #PromotionsLab Why Online Promotions? Source: Borrell Associates InBillions $0.00 $10.00 $20.00 $30.00 $40.00 $50.00 $60.00 $70.00 $80.00 $90.00 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
- 12. #PromotionsLab Discounts Wally Park Airport Parking News Tribune, The Bellingham Herald, & The Olympian | Tacoma, Washington $62,202 in Revenue $7 for $14.95 deal
- 14. #PromotionsLab Sponsored Contests Fair Photo Cover Contest The Daily Advocate | Greenville, Ohio $100,000 in Revenue Sponsored by Second National Bank & the Great Darke County Fair
- 15. #PromotionsLab Guess Anchorage’s First Snowfall KTUU-TV | Anchorage, Alaska $7,500 in Revenue 300% Increase in Advertiser’s Facebook Likes 1,064 Advertiser Opt-ins Advertiser Contests
- 20. #PromotionsLab#PromotionsLab EMAIL IS THE CENTER
- 21. #PromotionsLab Deals Revenue from Email 66%
- 22. #PromotionsLab A Tale of Two Cities $- $50,000 $100,000 $150,000 $200,000 $250,000 1 2 3 4 5 6 7 8 9 10 11 121314 Revenue Growth 0 5,000 10,000 15,000 20,000 25,000 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Email Growth
- 23. #PromotionsLab Impact of Email On Contests 0 50 100 150 200 250 300 350 400 450 500 Day 1 Day 2 Email Sent Day 4 Day 5 Day 6 Day 7 Submissions by Day 22% of Submissions
- 24. #PromotionsLab Discounts The Center of Your Promotions Success Events Sampling Contests CouponsWhitepapers
- 25. #PromotionsLab Email + Promotions Promotions Build Your List An Engaged Database Drives Promotions Revenue
- 26. #PromotionsLab#PromotionsLab WHAT DOES THIS MEAN FOR YOU?
- 27. #PromotionsLab Quad-City Times to Make $3MM w/ Email $500,000 $2,000,000 $500,000 Contests Deals Email Marketing & Ads
- 28. #PromotionsLab Quad-City Times’ Deals Store $154,835 in Revenue 77 Deals 8,086 Sold
- 29. #PromotionsLab Quad-City Times Sponsored Contests
- 30. #PromotionsLab Quad-City Times’ Advertiser Contests $5,000 - $15,000 in Revenue Per Contest 72% Opt-In Rate for Fyre Lake Golf Club
- 31. #PromotionsLab Quad-City Times Voter’s Choice
- 33. #PromotionsLab • Points to the money • Online tool: sold on a per market basis • Ad spending, non-ad spending, mobile, promotions • Used by hundreds of media companies • Track spending of 100 business categories – and 100% of ad spending dollars in all markets – from inside and outside the market • Forecast and back cast 10 year window • Easy to use: senior executives, analyst, sales people
- 34. #PromotionsLab Selling Internally Talk About It • Track it – what are you getting now? • Measure it – how much is available? • Treat it like a new business opportunity – not just a sales promotion or special section • See it as an opportunity vs. a threat • Resource it!
- 35. #PromotionsLab Target & Prioritize • What are you getting now? • Talk to your current customers • Focus on new business categories • Don’t forget about B2B • Think through the categories
- 36. #PromotionsLab Category: General Merchandise Stores Back to School Coloring Contest The Daily Advocate | Greenville, Ohio Sponsored by Walmart
- 37. #PromotionsLab Category: Food - Retail Gary’s Foods KCRG-TV & The Gazette | Cedar Rapids, Iowa $97,000 in Revenue 25% Referral Rate 80% Opt-In Rate for Advertiser
- 38. #PromotionsLab Category: Cellular Auto Racing Challenge WKYT-TV | Lexington, Kentucky $10,000 in Revenue
- 39. #PromotionsLab Category: Mortgage One on One with Nate Burleson WXYZ-TV | Detroit, Michigan Over 6,000 Entries
- 40. #PromotionsLab $12,000 in Revenue 614 Opt-ins Category: Retail & Home Improvement Win Your Own Man Cave The Day | New London, Connecticut
- 41. #PromotionsLab Category: Furniture Sales Is Your Pet a Couch Potato? KFMB-TV | San Diego, California Sponsored by Lawrence Furniture
- 42. #PromotionsLab Category: Eating & Drinking Places KFC Hawai’i Honolulu Star-Advertiser | Honolulu, Hawai’i $96,350 in Revenue
- 43. #PromotionsLab Category: Eating & Drinking Places Shuckers Oyster Bar & Grill The News and Observer | Raleigh, North Carolina $66,140 in Revenue
- 44. #PromotionsLab Category: Colleges & Universities Boise State University Idaho Statesman | Boise, Idaho $18,032 in Revenue
- 45. #PromotionsLab Category: Medical Professionals Kucumber Skin Lounge Bellingham Herald | Bellingham, Washington $16,000 in Revenue Laser Hair Removal
- 46. #PromotionsLab Category: Hospitals Get Fit Challenge Star-Herald | Scottsbluff, Nebraska $14,300 in Revenue 709 Registered Users Sponsored by Regional West Medical Center, Torrington Community Hospital, Box Butte General Hospital, etc.
- 47. #PromotionsLab Category: Automotive Sales Win a Volkswagen Jetta Billings Gazette | Billings, Montana $70,000in Revenue 3,700% Increase in Facebook Likes 1,352 Deals Opt-Ins 66 Leads for Advertiser
- 48. #PromotionsLab Category: Banks VISA Gift Card Giveaway Entercom Radio | New Orleans, Louisiana 98% Increase in Facebook Likes 46% Opt-In Rate Sponsored by a Community Bank
- 49. #PromotionsLab Category: Recreation Stadium of Fire Daily Herald | Provo, Utah $96,000 in Revenue
- 50. #PromotionsLab Category: Recreation Key Lime Cove Shaw Suburban Media | Chicago Suburban Region $175,269 in Revenue
- 51. #PromotionsLab Category: Recreation Hunter’s Ridge Golf Course KCRG-TV & The Gazette | Cedar Rapids, Iowa $78,510 in Revenue
- 53. #PromotionsLab Getting an Appointment Cut through the clutter • 17 calls per month • Everyone selling advertising (and online) • Talk about their industry and local! • Relative comparison • Accelerate the dialogue around their budget and shifts
- 54. #PromotionsLab Getting Time, Getting Information
- 56. #PromotionsLab Educate Your Prospects • You do more than sell ads – show and tell • Position yourself as a marketing expert • Show that you understand their business, their customers and their product line.
- 57. #PromotionsLab Questions to Ask Your Prospects Tell me about the last big successful promotion you did. Do you keep a database of customer contact info, including emails? Are you actively building it? Do you have any kind of loyalty program? What would you be willing to pay for a new customer, an email address, a Facebook Like? What demographics are you trying to reach? What products or services are you pushing in the next few months? Do you have an event or sale you need to promote more heavily?
- 59. #PromotionsLab The shift towards promotions is real. Promotions are a huge opportunity for media companies, and some have already started capitalizing.
- 60. #PromotionsLab Key Takeaways Think of promotions as a standalone business. Make the most of consulting & educational opportunities. Harness the power of media to make your promotions even more effective. Use data to help you… …get your organization excited about promotions. …decide which categories to target. …position yourself as an expert.
- 61. #PromotionsLab Q & A Matt Coen President & Co-Founder Second Street @mcoen Gordon Borrell CEO Borrell Associates @goborrell Jim Brown Sales Director Borrell Associates @jimbrownmedia Julie Foley Director of Affiliate Success Second Street @julie_foley
Notas del editor
- Julie
- Julie
- Julie
- Matt
- GordonAs a data – driven company, we are experts in local advertising. We are the leaders in tracking and forecasting local ad spending across any market in the U.S., Canada or the U.K., down to the county or province level. We help clients gauge the levels of advertising and marketing expenditures in their markets by any business type. We help media companies increase their market share and marketers adjust their budgets by providing detailed ad-spending data, fact-based consultation and training.
- Gordon:The history of promotions.
- Gordon. This is not just online, everything is involved. If you look at internet & digital media, has utility to support advertising package.
- Gordon
- KFMB-TVCBS StationBasketball ContestCoupon included in invite email to play contestDiscount documents for specific goods or services, either printed or electronic.
- Contests or lotteries created to promote the goods or services of the sponsoring entity.
- MattAdvertiser Contests
- Free Home Buying Webinar From a Realty Company in ScottsdaleWhat to expect when buying a Short Sale or ForeclosureFinancial benefits of owning versus rentingInterest rates for first time buyersLow down payment financing optionsTax benefits of owning a home
- MattThe Washington Post Papa John’sOffer: Free Large One-Topping Pizza & DeliveryContest: Win Pizza for a YearDeal Ran for three daysPromotion leveraged both deals and contestsSocial Boost was a difference maker:Rewarded users for sharing with bonus entriesAfter submission, given referral linkConfigurable where X referrals gets them X entries1 in 4 entries came via Social Boost132K pizzas were claimed65% of participants became NEW deal subscribers25% of claimed pizzas came from Social BoostPapa John’s trended on TwitterWin-Win-WinFree or discounted goods or services dispensed to a specific geographic or sociographic group.
- Pull slides from blinder
- Email is center of successful revenue plan overall.
- The more promotions you run. The more emails Virtuous circle
- MattMeans there’s big opportunities.
- Matt
- MattHome
- Prize: Win a membership to the golf club532 SubmissionsDouble check numbers w/ julie
- Matt-1,817 Users
- MattWe’ve seen how much money people can make, but the most important thing is you have to get your team organized and rallied around promotions internally. Utilizing Borrell’s research is beneficial for understand why promotions are a revenue opportunity, whether you are a sales person or a CEO. Turn it over to Jim.
- Jim
- So much money here – you have to be serious about promotions. Put dedicated resources & a business plan around promotions – are making millions of dollars.
- JimTrack how much revenue is coming directly from promotions. What are you trying to sell?Help companies build email database
- Stacey
- Matt
- $46 for $92Football Ticket Deal
- $1850 for $3700
- LOOK FOR A DIFFERENT HOSPITAL
- Marketing objective: wanted to double their LikesBiz Objective: wanted to sell 500 gift cards, average price point 25-50 a card12,880% growth in engagement (PTA, People Talking About This)New Likes per day: 1 fan a day to 127 fans a day, one day high of 375 new fansFirst contest to promoted through the app, did really well on WWL (their News Talk Sports Station)This was supported by a giveaway of a $500 gift card on their Facebook Page Doubled Likes in 2 weekscompared to 4 years to build what they hadDid a really great integrated program to bring awareness before the holidays that they provide Visa Gift Cards for saleMobile ads on mobile app really supported it, "taking it to another level“Supported with 2 emails, unsold inventory in display adsGave them 562 new emails
- MattGenerated $30K in one day!3 year partnership with this company
- MattDeKalb Daily Chronicle, Kane County Chronicle, Lake County Journal, Morris Daily Herald, Northwest Herald, Sauk Valley NewspapersKey Lime CoveAttractionOvernight Stay & 6 Waterpark Passes$99.95 for $234, Sunday-Friday (1,149 Sold)$129.95 for $264, Saturday (465 Sold)1,614 Sold Total
- Hunter’s Ridge Golf Course2 Rounds of Golf including Cart$30 for $60 or $52 for $104
- Matt
- Jim This is a crowded marketplace. Use data that your clients will find useful to cut through the clutter. Invest in research to help clientsData will help you get in the door.
- Jim
- Gordon.Promotions are not going away. Presents a great opportunity. If someone wants to build their email database, you could see it as a threat. Or, you can look at it as an opportunity for you to help them grow their list.Don’t look at the shift as a threat, but as an opportunity.Show your prospects everything in your toolbelt. Don’t just have to buy ads. Can offer an entire package.
- Tell me about the last big successful promotion you did: What did you offer? How much of a discount? Do you have any kind of loyalty program? Tell me how it works? How do you track your results?Do you know the value of a new customer?How are you currently measuring your advertising efforts? What are your business goals?
- Julie