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Top Takeaways from the Promotions Summit

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The Second Street Promotions Summit was an exciting, sold-out event in our hometown of St. Louis that explored how media companies can drive revenue and results with promotions. …

The Second Street Promotions Summit was an exciting, sold-out event in our hometown of St. Louis that explored how media companies can drive revenue and results with promotions.

It was a unique gathering with many different media types and market sizes represented – there were newspapers, magazines, television & radio stations, cable companies, industry consultants, and more.

The summit focused on the shift in advertisers’ marketing spend toward promotions. While the change in spending is disruptive for media companies, the group at the Promotions Summit was bent on turning it into an opportunity. Media companies are beginning to generate millions of dollars with promotions, and, more importantly, to drive remarkable results for businesses in their markets.

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  • 1. Promotions Summit 2014 Promotions Summit 2014
  • 2. Promotions Summit 2014Promotions Summit 2014 Julie Foley Director of Affiliate Success Second Street @julie_foley PRESENTERS #PromotionsSummit Matt Chaney Director of Affiliate Success Second Street @mattchaney Matt Coen President & Co-Founder Second Street @mattcoen
  • 3. Promotions Summit 2014Promotions Summit 2014 Follow @secondstreetlab on Twitter! Want to win an exclusive prize? Be the one who tweets the most with our hashtag #PromotionsSummit Note: We are recording this webinar and you will receive an email with links to the recording and slide deck. QUESTIONS & TWITTER
  • 4. Promotions Summit 2014 secondstreetlab.com/summit
  • 5. Promotions Summit 2014Promotions Summit 2014 WHO WE ARE
  • 6. Promotions Summit 2014Promotions Summit 2014
  • 7. Promotions Summit 2014Promotions Summit 2014 ATTENDEES #PromotionsSummit
  • 8. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  • 9. Promotions Summit 2014#PromotionsSummit
  • 10. Promotions Summit 2014Promotions Summit 2014
  • 11. Promotions Summit 2014Promotions Summit 2014 I feel the need. The need for promotions. Top Gun
  • 12. Promotions Summit 2014#PromotionsSummit
  • 13. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit #PromotionsSummit
  • 14. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit #PromotionsSummit
  • 15. Promotions Summit 2014Promotions Summit 2014 WHY NOT YOU? #PromotionsSummit
  • 16. Promotions Summit 2014 SHIFT IN SPEND 1
  • 17. Promotions Summit 2014#PromotionsSummit #PromotionsSummit
  • 18. Promotions Summit 2014Promotions Summit 2014 PROMOTIONS ARE A GROWING TREND Source: Borrell Associates $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Online Promotions are Exploding
  • 19. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit “Don’t underestimate your potential.”
  • 20. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit “I want you to think big and I want you to think differently.”
  • 21. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit “Advertisers want results you can measure those results with promotions.”
  • 22. Promotions Summit 2014Promotions Summit 2014 NEXT STEP: #PromotionsSummit Next Step: Think big, think differently and ask for more resources to maximize your promotions revenue.
  • 23. Promotions Summit 2014 ADVERTISERS WANT MEASURABLE RESULTS AND PROMOTIONS DELIVER THEM 2
  • 24. Promotions Summit 2014#PromotionsSummit
  • 25. Promotions Summit 2014Promotions Summit 2014 1.  Generate Leads 2.  Drive Foot Traffic 3.  Grow Social Engagement 4.  Grow Email Database 5.  Collect Data WHAT ADVERTISERS WANT #PromotionsSummit
  • 26. Promotions Summit 2014#PromotionsSummit The Challenge: Double the Number of Weddings Booked during their Season
  • 27. Promotions Summit 2014Promotions Summit 2014 THE SOLUTION #PromotionsSummit
  • 28. Promotions Summit 2014#PromotionsSummit “The resort had 10 weddings booked as a result of the contest.” - Elizabeth Perry, Cox Media Group
  • 29. Promotions Summit 2014#PromotionsSummit The Challenge: Grow Foot Traffic during Slow Period + Increase Awareness
  • 30. Promotions Summit 2014Promotions Summit 2014 THE SOLUTION #PromotionsSummit
  • 31. Promotions Summit 2014#PromotionsSummit “To date, we've done a half million dollars with just this one account doing deals.” - J. Tom Shaw, Shaw Media
  • 32. Promotions Summit 2014#PromotionsSummit The Challenge: Increase Foot Traffic
  • 33. Promotions Summit 2014Promotions Summit 2014 THE SOLUTION #PromotionsSummit
  • 34. Promotions Summit 2014#PromotionsSummit “The advertiser was thrilled with all the new customers they saw as a result of the deal.” - Brenda Fedak, Belleville News-Democrat
  • 35. Promotions Summit 2014#PromotionsSummit The Challenge: Grow Facebook Likes and Email List + Sell $18k in Gift Cards
  • 36. Promotions Summit 2014Promotions Summit 2014 THE SOLUTION #PromotionsSummit
  • 37. Promotions Summit 2014#PromotionsSummit “The bank increased their social engagement by 12,000% and drove $100,000 in sales the first year of their gift card program.” - Brandy Carter, SmartReach/Entercom
  • 38. Promotions Summit 2014#PromotionsSummit The Challenge: Grow Awareness and Email Database
  • 39. Promotions Summit 2014Promotions Summit 2014 THE SOLUTION Facebook sweepstakes and integrated print & online campaign #PromotionsSummit
  • 40. Promotions Summit 2014#PromotionsSummit “We had 80,000 people enter, which was amazing. We grew the outlets database by 47,000. It was one of the most successful promotions we’ve ever run.” - Jamie Kinnaird, BH Media
  • 41. Promotions Summit 2014Promotions Summit 2014 1.  Generate Leads 2.  Drive Foot Traffic 3.  Grow Social Engagement 4.  Grow Email Database 5.  Collect Data WHAT ADVERTISERS WANT #PromotionsSummit
  • 42. Promotions Summit 2014Promotions Summit 2014 NEXT STEP: #PromotionsSummit Next Step: Start every sales call with a needs analysis conversation and pitch promotions designed to meet those needs.
  • 43. Promotions Summit 2014 THERE ARE FOUR PILLARS TO PROMOTIONS SUCCESS 3
  • 44. Promotions Summit 2014Promotions Summit 2014 FOUR PILLARS Planning Growing Database Empowering Your Sales Team Leveraging Promotional Tools
  • 45. Promotions Summit 2014#PromotionsSummit "We build our email database whenever we possibly can." "We are always, constantly, every week generating money with promotions. Every single week.” "1,100 new emails from free deal lead to $55k in revenue over the next 6 months.”
  • 46. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit "Move incentives away from the size of your database to the size and engagement of your database." "Everything we do we ask if we can “gate” it and create a targeted impression from it." "The simplicity of planning is so overlooked as a driver of business. I’m still stunned by it every day."
  • 47. Promotions Summit 2014Promotions Summit 2014 NEXT STEP: #PromotionsSummit Next Step: Develop and implement a promotions plan that includes a calendar and a goal for revenue & database growth.
  • 48. Promotions Summit 2014 OPTIMIZE, EXPERIMENT AND INVEST IN RESOURCES 4
  • 49. Promotions Summit 2014#PromotionsSummit
  • 50. Promotions Summit 2014Promotions Summit 2014 ONLINE FORMATS – MARKET TOTAL #PromotionsSummit
  • 51. Promotions Summit 2014Promotions Summit 2014 YOUR PROMOTIONS RESOURCE #PromotionsSummit
  • 52. Promotions Summit 2014Promotions Summit 2014 ACTIONABLE CONTENT #PromotionsSummit
  • 53. Promotions Summit 2014Promotions Summit 2014 PLAYBOOKS #PromotionsSummit
  • 54. Promotions Summit 2014Promotions Summit 2014 DOWNLOADABLE WORKSHEETS #PromotionsSummit
  • 55. Promotions Summit 2014Promotions Summit 2014 NEWSLETTER #PromotionsSummit
  • 56. Promotions Summit 2014Promotions Summit 2014 REPORT CARDS #PromotionsSummit
  • 57. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit “92% of local sales managers believe more digital sales training is needed.”
  • 58. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit “92% of local sales managers believe more digital sales training is needed.” “42% of local sales managers rate their sales rep’s ability to sell digital as poor.”
  • 59. Promotions Summit 2014Promotions Summit 2014 ON DEMAND TRAINING #PromotionsSummit
  • 60. Promotions Summit 2014#PromotionsSummit Contest Sales Planning Contest Sales Deal Sales
  • 61. Promotions Summit 2014#PromotionsSummit Earn Certification
  • 62. Promotions Summit 2014Promotions Summit 2014 NEXT STEP: #PromotionsSummit Next Step: Sign up for Promotions University and visit secondstreetlab.com /summit to download more resources.
  • 63. Promotions Summit 2014 DATA HAS POWER 5    
  • 64. Promotions Summit 2014#PromotionsSummit “There might be some gold hidden in your database that you’re not seeing today.”
  • 65. Promotions Summit 2014 350 YEARS AGO #PromotionsSummit Antonie van Leeuwenhoek Peered Through The Microscope
  • 66. Promotions Summit 2014Promotions Summit 2014 WHAT HE SAW #PromotionsSummit 300  Years  Later  
  • 67. Promotions Summit 2014Promotions Summit 2014 DNA #PromotionsSummit 850,000X  
  • 68. Promotions Summit 2014Promotions Summit 2014 WHAT IF WE BUILT A BETTER MICROSCOPE? #PromotionsSummit
  • 69. Promotions Summit 2014Promotions Summit 2014 UNDER THE MICROSCOPE #PromotionsSummit Data  DNA  
  • 70. Promotions Summit 2014Promotions Summit 2014 WITH RICHER PROFILES, WE CAN APPLY FILTERS #PromotionsSummit
  • 71. Promotions Summit 2014Promotions Summit 2014 APPLYING FILTERS #PromotionsSummit
  • 72. Promotions Summit 2014Promotions Summit 2014 APPLYING FILTERS #PromotionsSummit Wants to refinance their home?
  • 73. Promotions Summit 2014Promotions Summit 2014 APPLYING FILTERS #PromotionsSummit Needs an oil change?
  • 74. Promotions Summit 2014Promotions Summit 2014 APPLYING FILTERS #PromotionsSummit Looking to purchase jewelry?
  • 75. Promotions Summit 2014Promotions Summit 2014 APPLYING FILTERS #PromotionsSummit In the market for a new car?
  • 76. Promotions Summit 2014Promotions Summit 2014 APPLYING FILTERS #PromotionsSummit Likes Mexican Food?
  • 77. Promotions Summit 2014Promotions Summit 2014 PROMOTIONS ALLOW YOU TO EXPLICITELY ASK #PromotionsSummit
  • 78. Promotions Summit 2014Promotions Summit 2014 PROMOTIONS ALLOW YOU TO INFER DATA #PromotionsSummit
  • 79. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  • 80. Promotions Summit 2014Promotions Summit 2014 NEXT STEP: #PromotionsSummit Next Step: Run more promotions to collect more data. Definitely run a ballot – it’s a data goldmine.
  • 81. Promotions Summit 2014 BALLOTS DRIVE AUDIENCE AND REVENUE YEAR ROUND 6
  • 82. Promotions Summit 2014Promotions Summit 2014
  • 83. Promotions Summit 2014#PromotionsSummit “We generated $75k at an 8k circulation paper with our Reader’s Choice program.” - Vince Johnson, Morris Multimedia
  • 84. Promotions Summit 2014Promotions Summit 2014
  • 85. Promotions Summit 2014#PromotionsSummit “The level of engagement and the level of voting was unbelievable.” - Blair Barna, Charleston City Paper
  • 86. Promotions Summit 2014Promotions Summit 2014
  • 87. Promotions Summit 2014#PromotionsSummit “This year, our state fair ballot will be a $100k opportunity. It's a beautiful thing for us to have ballots in our arsenal of products.“ - Marty Carry, State Journal-Register
  • 88. Promotions Summit 2014#PromotionsSummit
  • 89. Promotions Summit 2014#PromotionsSummit “We had a 47% increase in participation, plus made over $70k.“ - Jamie Kinnaird, BH Media
  • 90. Promotions Summit 2014Promotions Summit 2014 NEXT STEP: #PromotionsSummit Next Step: Add ballots to your promotions calendar.
  • 91. Promotions Summit 2014 DON’T BE AFRAID TO SELL RESULTS 7
  • 92. Promotions Summit 2014#PromotionsSummit
  • 93. Promotions Summit 2014#PromotionsSummit “Sell actionable ideas, not media.” “Hire people with a marketing background” “The follow-up is the most important part of the sales process.” “Know your successes and share them with your sales team”
  • 94. Promotions Summit 2014 “Its not about selling just print or just online. Its about all of it combined.” “People don’t buy what you sell. They buy what you BELIEVE.” “You need CASH!”
  • 95. Promotions Summit 2014 “Make sure reps are having needs analysis conversation” “Have a digital only sales team – it makes all the difference in revenue.”
  • 96. Promotions Summit 2014Promotions Summit 2014 NEXT STEP: #PromotionsSummit Next Step: Have the confidence that you can deliver the results your advertisers want with promotions.
  • 97. Promotions Summit 2014 ECOMMERCE PROMOTIONS WORK FOR EVERYONE 8
  • 98. Promotions Summit 2014#PromotionsSummit “At $2MM, our deals program is a huge amount of our annual digital revenue.”
  • 99. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit “Last  year  we  generated   over  $580,000  in  gross   revenue  from  deals   stores  alone.”
  • 100. Promotions Summit 2014Promotions Summit 2014 Cyber Monday Store #PromotionsSummit
  • 101. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit “We’ve made $85k with our golf card so far this year.”
  • 102. Promotions Summit 2014Promotions Summit 2014 JS ONLINE #PromotionsSummit
  • 103. Promotions Summit 2014Promotions Summit 2014 WISE-TV #PromotionsSummit $112k
  • 104. Promotions Summit 2014Promotions Summit 2014 NEXT STEP: #PromotionsSummit Next Step: Whether you have a deals program or not, run an ecommerce promotion type you haven’t tried before.
  • 105. Promotions Summit 2014 PROMOTIONS ARE EXCITING 9
  • 106. Promotions Summit 2014#PromotionsSummit “There isn’t anything cooler than putting together a great idea that helps fulfill an advertiser’s objective.” – Marty Carry
  • 107. Promotions Summit 2014Promotions Summit 2014 #fox50lipdu b
  • 108. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit “Do something your whole crew can have fun with. Our whole station participates and we have a blast!” – Terri Overby, WRAZ Fox 50
  • 109. Promotions Summit 2014Promotions Summit 2014 $200,000 in revenue RESULTS #PromotionsSummit
  • 110. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  • 111. Promotions Summit 2014Promotions Summit 2014 $100,000 in revenue RESULTS #PromotionsSummit
  • 112. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  • 113. Promotions Summit 2014Promotions Summit 2014
  • 114. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  • 115. Promotions Summit 2014Promotions Summit 2014 NEXT STEP: #PromotionsSummit Next Step: Have fun. Promotions should be fun to sell, and fun for your audience and advertisers.
  • 116. Promotions Summit 2014 WHY NOT YOU? 10
  • 117. Promotions Summit 2014#PromotionsSummit “Be an internal change agent in your organizations.” #PromotionsSummit
  • 118. Promotions Summit 2014Promotions Summit 2014 CARDS SPA CARD #PromotionsSummit
  • 119. Promotions Summit 2014Promotions Summit 2014
  • 120. Promotions Summit 2014Promotions Summit 2014
  • 121. Promotions Summit 2014#PromotionsSummit
  • 122. Promotions Summit 2014Promotions Summit 2014 STORES $168,000 in Revenue #PromotionsSummit
  • 123. Promotions Summit 2014Promotions Summit 2014
  • 124. Promotions Summit 2014Promotions Summit 2014 EVENTS + PROMOTIONS #PromotionsSummit
  • 125. Promotions Summit 2014Promotions Summit 2014 ADVERTISER CONTEST #PromotionsSummit
  • 126. Promotions Summit 2014Promotions Summit 2014 GROUP SWEEPSTAKES #PromotionsSummit
  • 127. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  • 128. Promotions Summit 2014#PromotionsSummit “After attending the Summit, I'm exploring hiring a person dedicated to generating new revenue through contests and promotions.” – Shawn Palmer, Senior VP, Chief Revenue Officer, Record-Journal "In order to set my team up for success, I am going to build a promotions plan and hire people who really understand the value of promotions." - Vince Johnson, Publisher, The Forsyth County News “I learned so much about how to use survey questions for data collection and lead generation to help sell contest sponsorships to advertisers. I can’t wait to get that into action for our properties.” – Jamie Kinnaird, Manager of Contests and Promotions, BH Media
  • 129. Promotions Summit 2014Promotions Summit 2014 NEXT STEP: #PromotionsSummit Next Step: Take an idea from the summit and implement it. What are you waiting for?
  • 130. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  • 131. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  • 132. Promotions Summit 2014Promotions Summit 2014 TAKEAWAYS 1.  There’s a Shift in Advertiser Marketing Spend to Promotions 2.  Advertisers Want Measurable Results and Promotions Deliver Them 3.  There are Four Pillars to Promotions Success 4.  Optimize, Experiment and Invest in Resources 5.  DATA has Power 6.  Ballots Drive Audience and Revenue Year Round 7.  Don’t be Afraid to Sell Results 8.  Ecommerce Promotions Work for Everyone 9.  Promotions are Exciting 10.  Why Not You? #PromotionsSummit
  • 133. Promotions Summit 2014 secondstreetlab.com/summit
  • 134. Promotions Summit 2014Promotions Summit 2014 Julie Foley Director of Affiliate Success Second Street @julie_foley THANK YOU #PromotionsSummit Matt Chaney Director of Affiliate Success Second Street @mattchaney Matt Coen President & Co-Founder Second Street @mattcoen