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Events Marketing for Media Companies

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Presentation from the June 2011 Specialized Information Publishers Association (SIPA) Conference.

Presentation from the June 2011 Specialized Information Publishers Association (SIPA) Conference.

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  • Customer pathing: events can serve as an entry point in your brand Events increase the LTV of your customers

Events Marketing for Media Companies Events Marketing for Media Companies Presentation Transcript

  • Marketing Live & Online Events, Training and e-Learning Using All Channels Nicole Cathcart, Thompson Media Group Presentation for Specialized Information Publishers Association, June 2011
  • Before we start, a theme…
    • Creating and growing an events business within a publishing or media organization—moving beyond monetization of subscriber names into true cross-selling and up-selling to increase customer lifetime value
    • Also, the session hashtag is #newmarketing
    • Twittering? Tell us what you think…
  • Thompson Media Group LLC
    • From banking to education to healthcare, TMG experts stay ahead of regulatory changes, industry best practices, and market trends to provide guidance, services, and education to our customers. Professionals have trusted TMG’s extraordinary industry expertise for more than 30 years.
    Nicole Cathcart Nicole Cathcart is Vice President of Online Marketing and Brand Management of Thompson Media Group LLC.  She began managing the web, email, events and creative services departments in 2010 and is focused on growing the online and new media channels. As Vice President of Marketing at The Performance Institute from 2005-2010, Nicole was responsible for strategic planning, online marketing, branding, product development, corporate communications, and partnership development for the Institute’s training, conferencing and consulting divisions.
  • Agenda
    • Determining channel ROI
    • Cross-channel marketing & sales integration
    • Case study #1: Sheshunoff’s Wall Street Reform Project
    • Case study #2: The Performance Institute’s Government Performance Summit
    • Case study #3: AHCmedia.com
  • Determining Channel ROI
    • Appreciate the originate/close difference
    Originate Close
  • Determining Channel ROI
    • For originate sales, determine the value of the investment, regardless of whether it was used for lead generation or direct sales
    • For close sales, determine the effectiveness of your response vehicles: ease of ecommerce, sales talent, customer service quality.
  • Determining ROI: Measure the impact of the events division on your publishing business
    • Does your events division allow you to further monetize your subscriber base?
    • What percentage of your new customers come from events?
    • What percentage of your new events customers purchase an additional product?
  • Shift to appreciate Customer Lifetime Value
  • Social Media ROI
    • The cost is in the labor, not the technology
    • How do you measure it?
      • Media Audit: Coding
      • Social Media Measurement
        • Hootsuite
        • Klout
    • First Steps:
      • Is your market social? How social?
      • In it for lead generation? Fully-develop your up-sell strategy
      • In it for brand engagement? Fully define your measures
  • Law of Diffusion of Innovation
  • Planning Your Campaign
    • For a single event:
    • Determine your revenue goals
    • Determine your internal and external outreach options and ROI history
      • Basic outreach includes email—highest ROI channel for events
    • For a training program:
    • Move beyond the ROI of a single event and look at the contribution of a series to branch out in multiple channels
    • Expand options for outreach when you package courses for a bulk discount or create a certification series
  • When and How to Use Telesales
    • Three scenarios:
      • Teleprospecting: Identification of qualified leads on a cold/warm list
      • Direct sales: Using sales to close qualified or hot leads
      • Cross-sales: Arming an existing telesales team in other lines of business with related events to cross-sell or help a close
    • The ROI of sales:
      • Price point as a determination
      • Response rate as a determination
  • Don’t Forget Your Website
    • Brand-Building:
      • Online Display
      • Partnerships (although, list exchanges can generate sales)
    • Lead Generation:
    • Traffic sources:
      • Paid Search
      • Organic Search
    • Traffic captures:
      • White Papers
      • Archived Webinars
      • Downloadable Catalogs/Brochures
      • Video/Audio Sessions
  • Case Study #1: Wall Street Reform How a blog and a series of free events helped us sell our publications and our paid webinars
  • Background
    • With the impending passage of the Dodd-Frank act, the Sheshunoff and A.S. Pratt brands needed a way to generate interest, establish expertise and attract a wider audience in the months leading up to legislation and release of a new publication
  • Strategy
    • Develop a new blog specific to Wall Street Reform, creating a search-optimized format for pulling in new and unengaged customers and prospects
    • Develop a series of free Executive Briefings (in webinar format) to further demonstrate expertise, capture and qualify leads
    • Use both methods to advertise paid products and use lead capture to immediately sell to qualified prospects upon release of the publication
  • Execution
    • Cross-functional team between senior management, editorial, marketing, and conference production with weekly status meetings
    • Within two weeks of conception, blog launched
    • Cross-channel advertising
      • Buckslips included in both acquisition and renewal direct mail campaigns
      • Aggressive email promotion, including a kickoff email to subscribers from our CEO
      • Mention of Free webinar series in paid webinars; mention of publication in free webinars, plus post-event email and telemarketing follow-up
  • Results
    • During the 6 month campaign, 6% net response rate for free conference attendees—including 22 paid sales within the first two weeks of launch
    • A revitalization of paid webinars, now performing 28% above planned budget
    • Ultimately, a shift to 50% of new customers generated through free and paid webinars into either repeat customers or subscribers
  • Case Study #2: Government Performance Summit How a free, sponsor-driven event helped us sell a flagship live conference
  • Background
    • The Government Performance Summit, held annually since 2000, is The Performance Institute’s flagship live conference
    • In 2010, the competition included a new dynamic:
      • One month separation between a free, co-sponsored IBM event on a similar topic that used The Performance Institute’s marketing services
  • Strategy & Execution
    • Two approaches used to supplement standard direct mail, email, social media, partnership and online advertising campaigns:
      • Teleprospecting on cold call lists
      • Direct sales on warm lists from a free event co-presented with IBM
    • Teleprospecting utilized lists without email addresses and called potential attendees with the goal of sending prospects an agenda
    • Through email and telesales, attendees of the free event were called, the sales person referenced the free event and offered a 20% discount pass
  • Results
    • 50% of cold prospects converted to warm leads; 10% of warm leads converted to sales
    • 400% ROI on up-sell campaign from free attendees
  • Case Study #3: AHCmedia.com How the usability of your website affects your conference business
  • Overview
    • Untouched for 10+ years, the AHCmedia.com website has been used as a “What NOT to do” example of ecommerce—including a confusing 10+ step process for purchasing
    • In January of 2011, web development and online marketing executed a 30-day redesign in with 3 main goals:
        • Increase usability of shopping cart
        • Optimize the new site for search to increase organic traffic
        • Implement ecommerce analytics
  • Results
    • 34% increase in monthly revenue from the site over the highest revenue months in 2010—mostly due to an increase in webinar sales
    • Webinar division for AHC Media is 15% above plan
  • Questions?
  • Thank you! Nicole Cathcart [email_address] 202-739-9528