The document proposes a digital engagement program between WWE and PNC Bank to reach younger audiences. It identifies that WWE's audience is aging while digital audiences are younger. The program would create youth-centric content and use data to engage account holders. PNC would sponsor the program in exchange for marketing benefits, with an estimated annual partnership valuation of $4 million. Key goals are to strengthen both brands, reach younger demographics, and increase engagement and sales metrics.
4. BUSINESS GAP
Re-tool focus on
younger demographic.
Audience average age
is rising.
Digital audience is
increasingly younger.
5. OBJECTIVES
•S: Create more youth centric, hip content to be distributed
regularly across WWE’s platforms.
•M: Data mining technology to reach account holders and
find what they are most consuming.
•A: Bridge generations with new digital technology.
•R: Strength of brand has been family friendly.
•T: Year to year monitoring around large periods of digital
consumption surrounding big events such as WrestleMania.
•S: Re-shape & re-model the WWE Network to be more user
friendly allowing for my customization.
•M: Regular surveys gauging overall usability & functionality
helps us determine areas of improvement.
•A: Getting younger generations up to speed with OTT & its
benefits will help their confidence using the technology. This will
provide more comfort to them to use the service.
•R: Future generations will be more in tune with trending
technologies & making the service convenient for them will create
consumer confidence in the product through the technology.
•T: Seeing changes in usability have effected subscriber counts
quarter to quarter with the main area of concern being the day
after WrestleMania.
6.
7. SPONSORSHIP
INCORPORATION
Fit:
Overlap in desired audience. Key purchase decision
makers.
Looking to reach younger audience through digital
means.
Benefits:
Hard- Tickets, social Media presence, & commercial spots.
Soft- Official bank & financial management provider of
WWE. Title sponsor for WWE Universe Rewards.
Exposure- Logo will be presented in all promotional
material related to engagement program. Bank customers
receive exclusivity when engaging with WWE.
10. VALUATION
• Urgency to reach audience that is more savvy & has increasing purchasing
power.
• Relationship with other sports entities i.e. NFL & NASCAR.
• Offers convenience and direction to streamlined services.
• Out of box partnership for both brands. Stigmas to overcome.
• Increasing KPI’s and other metrics.
Partnership valuation: $4,000,000 per year.
11. CUSTOMER PERSONA
Mark
Age 24
Single
College Degree
Physical Education Teacher
$32,000 annual income
Owns the latest & most up to date technology. Does not own a
landline or cable TV package.
Prefers using digital technology to perform as many daily tasks as
possible rather than doing so in person, out of convenience.
Purchase decisions include impulse buys, are education & work
based, as well as social media & news/information consumption.
Heavily influenced by celebrity endorsements and trends in media.
Look to make thrifty and efficient purchases.
13. FINANCIAL
SNAPSHOT
• Total Start Up Cost: $4,248,500
• Annual Cost: $3,318,500
• Year 1 Gross: -$248,500
• Annual Gross: $681,500
14. KEY PERFORMANCE INDICATORS
•Viewership: Is our average audience age declining?
•Digital: What are the consumption habits of our content?
•E-Commerce: Merchandise and licensed apparel sales?
•Program Activity: Point redemption & engagement on
platform?
16. REFERENCES
• Company Overview. (n.d.). Retrieved from http://corporate.wwe.com/who-we-are/company-overview
• Dixon, A. (2018, September 19). The 15 Largest Banks In America. Retrieved from
https://www.bankrate.com/banking/americas-top-10-biggest-banks/#slide=1
• Oestriecher, B. (2017, June 09). WWE Fans Are Getting Older, But Why? Retrieved from
https://www.forbes.com/sites/blakeoestriecher/2017/06/09/wwe-fans-are-getting-older-but-why/#2e6f8faf2059
• PNC Business Banking. (n.d.). Retrieved from
https://www.pnc.com/en/small-business/topics/cash-flow-challenges/social-media-strategy.html
• PNC Online & Mobile Banking. (n.d.). Retrieved from https://www.pnc.com/en/personal-banking/banking/online-and-mobile-banking.html
• PNC Places More Focus On Experiential Marketing. (n.d.). Retrieved from
http://www.sponsorship.com/iegsr/2016/10/17/PNC-Places-More-Focus-On-Experiential-Marketing.aspx
• Recker, H. (2018, April 19). Strategic Audit of WWE[Scholarly project]. In Digital Commons @ University of Nebraska Lincoln. Retrieved
September 25, 2018, from https://digitalcommons.unl.edu/cgi/viewcontent.cgi?article=1058&context=honorstheses
• Welcome to PNC. (n.d.). Retrieved from https://www.pnc.com/en/about-pnc.html?lnksrc=topnav
• Wrestling, I. (1970, January 01). Indeed Wrestling. Retrieved from
http://indeedwrestling.blogspot.com/2017/06/wwe-demographics-femalemale-split.html
• Unable to create APA Formatted references for:
http://www.sponsorship.com/Report/2018/05/14/PNC-Banks-On-Sponsorship-To-Support-Growth-Ambitio.aspx
http://www.sponsorship.com/Report/2018/04/02/Sponsorship-Takedown--A-Look-At-WWE-s-Sponsorship-.aspx
