Planning Your Deals Strategy for the Year

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When it comes to planning your deals strategy for your program, there are three main areas to keep in mind: database planning, deals store planning, and sales planning. Once you have laid out your plans for each of these areas, you are well on your way not only to a deals strategy for the year, but also to a comprehensive annual promotions calendar.

To learn how to effectively plan for deals in all three areas and integrate your promotions strategy, check out the webinar I did with Shannon Dunnigan from GateHouse and Jodi Brooks from The Repository.

To learn more, watch the recording or read our top takeaways from the presentation:

http://secondstreetlab.com/2013/01/planning-your-deals-strategy/

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  • Comment & questions on TwitterQuestions RecordingSurvey at the end – your feedback is welcomed
  • Chaney
  • Chaney
  • 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
  • Being more strategic about the advertisers you target & when you target themLooking at the big picture instead of trying to “fill a calendar”More easily plan multi-faceted promotions to engage & grow your audienceLearning more about your audience and optimizing deal mix long the way
  • be more confident with merchantstalking about their industrynot selling; get some extra advertising when you need it mostbeing “featured”
  • Not saying just sell theseFeb: restaurants always good but especially this month; date night packageEvergreen alwaysTop Categories still remain-Restaurants-Beauty-ServicesLandscaping/Mulch – not always planning ahead six months; not as savvy; likely to be the same guys selling you firewood in December----- Meeting Notes (1/29/13 08:57) -----Sooner you get on this schedule, sooner you can be more strategic in your deal selection
  • Shows your serious about dealsGet the right deals to help you get your number
  • Just like an Editorial calendarSummer Camps - utility to help them know what’s around them and make their lives easier
  • First Quarter ideasTotal Revenue: over $60K in Gross revenue$30K – Miami$21K – Quad$15K - SLPD
  • ----- Meeting Notes (3/14/12 12:26) -----Joelene
  • ShannonHow did you determine your calendar?Tie-in stores with niche, contest initiativesKeep all sites on same page
  • Shannon
  • Shannon
  • ShannonCyber WeekAvg. $22K2011 - $78,0002012 - $90,000Best Of StoreAvg. $1,200Best of Store Week: $11,000GatehouseHolland – example on the right (16K circulation)2013 version starts on 1/28
  • Shannon
  • JodiCalling on golf courses on snowiest days
  • Jodi
  • Jodi$2,970 weekly average revenue215 weekly average sales volume
  • Dos – ShannonDon’ts - Jodi
  • 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.
  • Shannon
  • ShannonA year-long strategy for them – contests and storesOften tie-in contests with deal stores – a best practiceDoing a great job with lots of focus
  • Overall code: Word printed in a newspaper or on a website for anyone to use once, publicUnique code: 1-time use codes given out to specific users. With a minimum purchase ex. Must spend $20 to get a $5 credit
  • Shannon294 total salesMotived to buyWhat’s the average Quiznos – after? #s
  • QuarterlyInstructionalShowcased current top dealsLimited time offer – timed it near end of month to finish strongWOW sales numbersOrders: 39 vs 113Avg. revenue: 920 vs. $1793Time it so it lands ahead of some great deals
  • Twice a yearUse it to learn about your audienceEmpower your sales staff with useful data
  • Will be sending this out
  • Live right now under Promotion Examples
  • We will provide these later this week
  • Not everyone has a Shannon to supply them with promotional materials & sales kitsValentine’s day kitGolf coming upMore throughout the year in 2013
  • Minimums
  • Always strive to work ahead – 2 months Use sales calendar to guide your sales teamsPlan at least 4 stores per yearCreate a contest campaign for steady database growthUse credits strategically to spur purchases
  • Planning Your Deals Strategy for the Year

    1. 1. Planning Your Deals Strategy for the Year January 29, 2013D 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 #DealsLab
    2. 2. How to Interact with Us Follow @secondstreetlab on Twitter! Want to win an exclusive prize? Be the one who tweets the most with our hashtag Twitter Hashtag: #DealsLab GoToWebinar™ Questions PanelWe are recording this webinar and you will receive an emailwith links to the recording and the slide deck. #DealsLab
    3. 3. Who We Are Increase ROI, Build & Engage Audience # #DealsLab
    4. 4. Deadline Deals A truly white label deals provider To date, Deadline Deals has executed • More than 3,750,000 gift cards sold • On more than 425 local media sites • More than 1,250,000 consumers have purchased deals through our partner’s sites # #DealsLab
    5. 5. Speakers Matt Chaney Shannon Dunnigan Jodi BrooksDirector of Affiliate Success Vice President, Daily Deal Manager Deadline Deals Consumer Savings GateHouse - Ohio Platforms GateHouse Media #DealsLab
    6. 6. Agenda• Why plan?• Sales, Stores, & Database Planning• How to get started• Wrap-up & QA # #DealsLab
    7. 7. WHY PLAN?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 #DealsLab
    8. 8. On Planning… “If you dont know where you are going, youll end up someplace else.” ― Yogi Berra “A goal without a plan is just a wish.” ― Antoine de Saint-Exupéry, The Little Prince #DealsLab
    9. 9. What Planning Means for Deals Database Planning Store Planning Sales Planning # #DealsLab
    10. 10. SALES PLANNINGD 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 #DealsLab
    11. 11. Sales Planning Work ahead - target advertisers when they’re planning ad budgets, not during their peak season Give your reps a roadmap Help build your roster of deals with multi-deal contracts – campaign for the year versus a single deal More easily plan your next deal store Means having a per deal revenue goal in mind #DealsLab
    12. 12. Your Deals Sales Calendar – 2 Month Rule February March AprilDeals to be Running Deals to be Running Deals to be Running• Restaurants • Summer Camps • Family Attractions• Flower & Gift Shops • Hair Removal • Car Maintenance• Spa/Massage • Landscaping/Mulch • Golf Category Sales Category Sales Category Sales Targets Targets Targets• Family Attractions • Water Parks • Waterparks• Car Maintenance • Summer Events • Fitness• Golf • Grocery/Butcher Shops • Nurseries #DealsLab
    13. 13. Per Deal Revenue Goal Breakdown • Should be top criteria for judging deal quality • Puts a number in the minds of the reps • Easier to pencil out different splits, promotional package offerings Bottom Line #DealsLab
    14. 14. DEAL STORE PLANNINGD 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 #DealsLab
    15. 15. Deal Store Planning Gives you a focused sales and marketing calendar for the year Helps you identify strategic times when you need a revenue lift Puts timely offers into the Inboxes of your audience Allows you to work with a wider variety of prospects and advertisers Improves your deal mix and average price point by offering different types of offers #DealsLab
    16. 16. Top First Quarter Store Ideas # #DealsLab
    17. 17. Deal Stores: A Year-Long Strategy Month Category/Season/Holiday January New Years Resolutions February Valentine’s Day March Spring Break April Golf May Mother’s Day June Father’s Day July Summer Fun August Back to School September Fall/Labor Day October Halloween November Cyber Monday Week December Holidays/NYE # #DealsLab
    18. 18. Gatehouse Store Calendar Month Theme Sales Collateral Delivered Sales Deadline Live Store Dates Kids & Babies (in conjunction with Cutest Babies niche January initiative) By week of November 26, 2012 January 9 January 16-29 Super Bowl/Big Game (in conjunction with Super Bowl/Big Game niche initiative - overlapping with Cutest Babies deal January 21-February February store) By week of December 17, 2012 January 14 3 March March Madness By week of January 21 March 12 March 19-April 8 Mothers Day (in conjunction with Mothers Day niche May initiative) By week of February 25 April 22 April 29-May 12 June Dads & Grads By week of April 1 May 28 June 3-16 November Cyber Monday By week of September 30 November 25 December 2-11 December Holidays By Week of October 7 December 5 December 12-25Flexible Dates Theme Sales Collateral Delivered Sales Deadline Live Store DatesIn conjunction Two weeks,with local Best coinciding with local of niche One week prior to Best of niche initiative Best of (in conjunction with local Best of niche initiative) By week of December 31, 2012 live store dates initiativeIn conjunction Two weeks, with local coinciding with local Cutest Pets Cutest Pets (in conjunction with local Cutest Pets niche One week prior to Cutest Pets nicheniche initiative initiative) By week of December 31, 2012 live store dates initiative*An email database building sweepstakes or niche initiative contest will run in conjunction with each, and will run independently during months without a deal store. # #DealsLab
    19. 19. Corporate Support & Guidance• Regular calls with local deal champions• Stores strategies & plans are discussed• These materials provided for every store – Banners on their site – Print ads – Sales targets – Calendar with due dates and schedule – Research on categories from Ad Mall – Sales tracking document – One-sheet #DealsLab
    20. 20. Example: Big Game Promotion• Truly holistic approach• Involves all products – Deals – Niche publications – Coupons – Contest Online Ad #DealsLab Print Ad
    21. 21. Stores Overall Revenue Impact Chain-wide Cyber Week Stores Single Site “Best Of” Store$100,000 $12,000 $90,000 $80,000 $10,000 $70,000 $8,000 $60,000 $50,000 $6,000 $40,000 $30,000 $4,000 $20,000 $10,000 $2,000 $- Average Week Cyber Week Cyber Week $- 2011 2012 Average Week "Best Of" Store Week #DealsLab
    22. 22. Cyber Week Chain-Wide Results • Revenue Up 25% YOY • Over $90K in Total Revenue #DealsLab
    23. 23. Effective Planning – Planning on the Local Level • Knowing what stores and promotions are coming up is half the battle • January push for multi-deal contracts throughout the 2013 • Sign-up advertisers for multiple stores • Having materials created for them streamlines launch process • Working a quarter in advance #DealsLab
    24. 24. The Repository – Deal Stores of 2012• Golf• Mothers Day• Dads & Grads• Pets• Kids• Halloween• Stocking Stuffers• Cyber Week #DealsLab
    25. 25. The Repository – Results • Nearly $40K in store revenue for the year • Average store revenue approximately $5K – like adding another week & half on the month! • Top Stores for The Repository – Golf, Mother’s Day, Cyber Week • Plans for 2013 – Focus on restaurants – Small advertiser package # #DealsLab
    26. 26. Do’s and Don’ts of Deal Stores Do This Don’t Do This• Put a calendar together of the • Don’t use filler deals or deals that stores you’ll run for the year don’t fit the theme• Create bonus promotional package • Deal quality always matters as an incentive to advertisers • Make sure store makes sense; don’t• Schedule store to maximize force a theme weekdays • Avoid generic store emails; show• Have bonus in place tied to store specific deals sales • Only launch with a complete store• Add seasonal design elements to lineup site • Plan ahead - Don’t wait to last• Strive for deal diversity within store minute # #DealsLab
    27. 27. Top Stores of 20121. Holiday/Stocking Stuffer2. Cyber Week3. Golf4. Destinations/Travel5. Father’s Day6. Mother’s Day7. Home Improvement8. Kids/Family9. Summer Adventures/Recreation10. Best Of #DealsLab
    28. 28. DATABASE PLANNINGD 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 #DealsLab
    29. 29. Database Engagement & Growth Planning With 66% of deal revenue coming from email, this audience is too important to not have a plan Grows your audience – faster and more consistently Helps you foster a better relationship with your audience Increases your understanding of what motivates and interests them Reengages inactive users & keeps your database active # #DealsLab
    30. 30. Case Study: Gatehouse MediaCutest Baby Contest  2,400 submissions  3.2 MM votes  25k deal opt-ins  83K registered users  5.7 MM page views  20% increase in monthly traffic! # #DealsLab
    31. 31. Gatehouse’s Contest Success Grew Deals Database by 46% With Contests Alone! # #DealsLab
    32. 32. Promotional CreditsWhat is it?A credit given to users that offers a discount towards a future purchase.Why use it?• Used by ecommerce sites to increase sales and engagement• No cash value; requires a purchase on your site to use• Codes can be branded for promotional tie-ins• Flexibility to meet your business needs – Three formats – Can be any price you choose # #DealsLab
    33. 33. Promotional Credits Usage Examples • Reengage inactive buyers • Market to another internal list • Reward top spenders • Give extra promotion to a big deal • Celebrate anniversary of your program & show appreciation #DealsLab
    34. 34. Rockford Register Star – Welcome Promo Background• $5 credit towards purchase• Buy first, get credit• Tied it to a top deal – Quiznos• Sent to all subscribers• Deal ran for 3 days Results• 217 credits deposited and used• Those who got the credit have purchased over 1,100 deals since• $1,085 in credits given• These users have generated over $18K in revenue! #DealsLab
    35. 35. Credits - Promo Code “ActNow” Background• The Sacramento Bee• $5 credit towards purchase• “ActNow” promo code• Sent to all subscribers• 3 days to use: Friday - Sunday Results• 446 credits deposited and used• Increased week-over-week stats • Order volume up 65% • Revenue up 49% #DealsLab
    36. 36. Surveys• The Quad-City Times• 1,152 respondents completed survey• Results: • 77% of respondents had visited a new local business as a result of program • 62.5% spend over voucher value • 95% of respondents share # #DealsLab
    37. 37. HOW TO GET STARTEDD 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 #DealsLab
    38. 38. Sales Tools – Planning Calendar Sales Calendar By Month:Categories to featureCategories to target #DealsLab
    39. 39. Sales Tools – The Lab • Deal Ideas Library on SecondStreetLab.com for all categories – Travel – Restaurants – Events – Recreation – Beauty – Services – Retail #DealsLab
    40. 40. Look for Store Opportunities in Your Calendar # #DealsLab
    41. 41. Store Tools – Planning Calendar Stores Calendar By Month: Stores to be running Stores to be selling #DealsLab
    42. 42. Second Street Store Tools• Store Design & Promotion – Top-of-page Banner – Site background – Print ads – Online ads• Sales Kit – Pitch deck – One-sheet – Target advertisers to go after #DealsLab
    43. 43. Create a Promotions Calendar Month Contests Deals Stores Credits Surveys January Fitness New Year, New You February Super Bowl, Valentine’s Day “LOVE” credit code Grammys, Oscars, sent to inactive Auto Racing, Cutest buyers Couple March College Basketball Spring Break Brackets (Activities) April Golf, NHL Playoffs, Golf Spring Survey NBA Playoffs May Mother’s Day Mother’s Day Stores: Credits: June Contests: Father’s Day Father’s Day Surveys: 4x per Year 4x per Year July Monthly Pets, Kids, Patriotic Evergreen Store 2x per Year August Back to School (Kids) Back to School September Football Fall Events October Halloween Halloween Fall Survey November Holiday Cyber Monday Sweepstakes, Holiday Recipe December Holiday Kids, College Stocking Stuffers Bowl Games # #DealsLab
    44. 44. WRAP-UP & QAD 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 #DealsLab
    45. 45. Top Takeaways1. Always strive to work ahead – 2 months2. Use sales/stores calendars to guide your sales teams3. Have a per deal revenue goal4. Plan at least 4 stores per year5. Run contests regularly for steady database growth6. Use credits strategically to spur purchases #DealsLab
    46. 46. Questions? Matt Chaney Shannon Dunnigan Jodi BrooksDirector of Affiliate Success Vice President, Daily Deal Manager Deadline Deals Consumer Savings GateHouse - Ohio Platforms GateHouse Media #DealsLab
    47. 47. SecondStreetLab.com #DealsLab

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