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.

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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Top Takeaways from the Promotions Summit

  1. 1. Promotions Summit 2014 Promotions Summit 2014
  2. 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. 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. 4. Promotions Summit 2014 secondstreetlab.com/summit
  5. 5. Promotions Summit 2014Promotions Summit 2014 WHO WE ARE
  6. 6. Promotions Summit 2014Promotions Summit 2014
  7. 7. Promotions Summit 2014Promotions Summit 2014 ATTENDEES #PromotionsSummit
  8. 8. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  9. 9. Promotions Summit 2014#PromotionsSummit
  10. 10. Promotions Summit 2014Promotions Summit 2014
  11. 11. Promotions Summit 2014Promotions Summit 2014 I feel the need. The need for promotions. Top Gun
  12. 12. Promotions Summit 2014#PromotionsSummit
  13. 13. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit #PromotionsSummit
  14. 14. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit #PromotionsSummit
  15. 15. Promotions Summit 2014Promotions Summit 2014 WHY NOT YOU? #PromotionsSummit
  16. 16. Promotions Summit 2014 SHIFT IN SPEND 1
  17. 17. Promotions Summit 2014#PromotionsSummit #PromotionsSummit
  18. 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. 19. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit “Don’t underestimate your potential.”
  20. 20. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit “I want you to think big and I want you to think differently.”
  21. 21. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit “Advertisers want results you can measure those results with promotions.”
  22. 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. 23. Promotions Summit 2014 ADVERTISERS WANT MEASURABLE RESULTS AND PROMOTIONS DELIVER THEM 2
  24. 24. Promotions Summit 2014#PromotionsSummit
  25. 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. 26. Promotions Summit 2014#PromotionsSummit The Challenge: Double the Number of Weddings Booked during their Season
  27. 27. Promotions Summit 2014Promotions Summit 2014 THE SOLUTION #PromotionsSummit
  28. 28. Promotions Summit 2014#PromotionsSummit “The resort had 10 weddings booked as a result of the contest.” - Elizabeth Perry, Cox Media Group
  29. 29. Promotions Summit 2014#PromotionsSummit The Challenge: Grow Foot Traffic during Slow Period + Increase Awareness
  30. 30. Promotions Summit 2014Promotions Summit 2014 THE SOLUTION #PromotionsSummit
  31. 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. 32. Promotions Summit 2014#PromotionsSummit The Challenge: Increase Foot Traffic
  33. 33. Promotions Summit 2014Promotions Summit 2014 THE SOLUTION #PromotionsSummit
  34. 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. 35. Promotions Summit 2014#PromotionsSummit The Challenge: Grow Facebook Likes and Email List + Sell $18k in Gift Cards
  36. 36. Promotions Summit 2014Promotions Summit 2014 THE SOLUTION #PromotionsSummit
  37. 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. 38. Promotions Summit 2014#PromotionsSummit The Challenge: Grow Awareness and Email Database
  39. 39. Promotions Summit 2014Promotions Summit 2014 THE SOLUTION Facebook sweepstakes and integrated print & online campaign #PromotionsSummit
  40. 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. 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. 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. 43. Promotions Summit 2014 THERE ARE FOUR PILLARS TO PROMOTIONS SUCCESS 3
  44. 44. Promotions Summit 2014Promotions Summit 2014 FOUR PILLARS Planning Growing Database Empowering Your Sales Team Leveraging Promotional Tools
  45. 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. 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. 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. 48. Promotions Summit 2014 OPTIMIZE, EXPERIMENT AND INVEST IN RESOURCES 4
  49. 49. Promotions Summit 2014#PromotionsSummit
  50. 50. Promotions Summit 2014Promotions Summit 2014 ONLINE FORMATS – MARKET TOTAL #PromotionsSummit
  51. 51. Promotions Summit 2014Promotions Summit 2014 YOUR PROMOTIONS RESOURCE #PromotionsSummit
  52. 52. Promotions Summit 2014Promotions Summit 2014 ACTIONABLE CONTENT #PromotionsSummit
  53. 53. Promotions Summit 2014Promotions Summit 2014 PLAYBOOKS #PromotionsSummit
  54. 54. Promotions Summit 2014Promotions Summit 2014 DOWNLOADABLE WORKSHEETS #PromotionsSummit
  55. 55. Promotions Summit 2014Promotions Summit 2014 NEWSLETTER #PromotionsSummit
  56. 56. Promotions Summit 2014Promotions Summit 2014 REPORT CARDS #PromotionsSummit
  57. 57. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit “92% of local sales managers believe more digital sales training is needed.”
  58. 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. 59. Promotions Summit 2014Promotions Summit 2014 ON DEMAND TRAINING #PromotionsSummit
  60. 60. Promotions Summit 2014#PromotionsSummit Contest Sales Planning Contest Sales Deal Sales
  61. 61. Promotions Summit 2014#PromotionsSummit Earn Certification
  62. 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. 63. Promotions Summit 2014 DATA HAS POWER 5    
  64. 64. Promotions Summit 2014#PromotionsSummit “There might be some gold hidden in your database that you’re not seeing today.”
  65. 65. Promotions Summit 2014 350 YEARS AGO #PromotionsSummit Antonie van Leeuwenhoek Peered Through The Microscope
  66. 66. Promotions Summit 2014Promotions Summit 2014 WHAT HE SAW #PromotionsSummit 300  Years  Later  
  67. 67. Promotions Summit 2014Promotions Summit 2014 DNA #PromotionsSummit 850,000X  
  68. 68. Promotions Summit 2014Promotions Summit 2014 WHAT IF WE BUILT A BETTER MICROSCOPE? #PromotionsSummit
  69. 69. Promotions Summit 2014Promotions Summit 2014 UNDER THE MICROSCOPE #PromotionsSummit Data  DNA  
  70. 70. Promotions Summit 2014Promotions Summit 2014 WITH RICHER PROFILES, WE CAN APPLY FILTERS #PromotionsSummit
  71. 71. Promotions Summit 2014Promotions Summit 2014 APPLYING FILTERS #PromotionsSummit
  72. 72. Promotions Summit 2014Promotions Summit 2014 APPLYING FILTERS #PromotionsSummit Wants to refinance their home?
  73. 73. Promotions Summit 2014Promotions Summit 2014 APPLYING FILTERS #PromotionsSummit Needs an oil change?
  74. 74. Promotions Summit 2014Promotions Summit 2014 APPLYING FILTERS #PromotionsSummit Looking to purchase jewelry?
  75. 75. Promotions Summit 2014Promotions Summit 2014 APPLYING FILTERS #PromotionsSummit In the market for a new car?
  76. 76. Promotions Summit 2014Promotions Summit 2014 APPLYING FILTERS #PromotionsSummit Likes Mexican Food?
  77. 77. Promotions Summit 2014Promotions Summit 2014 PROMOTIONS ALLOW YOU TO EXPLICITELY ASK #PromotionsSummit
  78. 78. Promotions Summit 2014Promotions Summit 2014 PROMOTIONS ALLOW YOU TO INFER DATA #PromotionsSummit
  79. 79. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  80. 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. 81. Promotions Summit 2014 BALLOTS DRIVE AUDIENCE AND REVENUE YEAR ROUND 6
  82. 82. Promotions Summit 2014Promotions Summit 2014
  83. 83. Promotions Summit 2014#PromotionsSummit “We generated $75k at an 8k circulation paper with our Reader’s Choice program.” - Vince Johnson, Morris Multimedia
  84. 84. Promotions Summit 2014Promotions Summit 2014
  85. 85. Promotions Summit 2014#PromotionsSummit “The level of engagement and the level of voting was unbelievable.” - Blair Barna, Charleston City Paper
  86. 86. Promotions Summit 2014Promotions Summit 2014
  87. 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. 88. Promotions Summit 2014#PromotionsSummit
  89. 89. Promotions Summit 2014#PromotionsSummit “We had a 47% increase in participation, plus made over $70k.“ - Jamie Kinnaird, BH Media
  90. 90. Promotions Summit 2014Promotions Summit 2014 NEXT STEP: #PromotionsSummit Next Step: Add ballots to your promotions calendar.
  91. 91. Promotions Summit 2014 DON’T BE AFRAID TO SELL RESULTS 7
  92. 92. Promotions Summit 2014#PromotionsSummit
  93. 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. 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. 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. 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. 97. Promotions Summit 2014 ECOMMERCE PROMOTIONS WORK FOR EVERYONE 8
  98. 98. Promotions Summit 2014#PromotionsSummit “At $2MM, our deals program is a huge amount of our annual digital revenue.”
  99. 99. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit “Last  year  we  generated   over  $580,000  in  gross   revenue  from  deals   stores  alone.”
  100. 100. Promotions Summit 2014Promotions Summit 2014 Cyber Monday Store #PromotionsSummit
  101. 101. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit “We’ve made $85k with our golf card so far this year.”
  102. 102. Promotions Summit 2014Promotions Summit 2014 JS ONLINE #PromotionsSummit
  103. 103. Promotions Summit 2014Promotions Summit 2014 WISE-TV #PromotionsSummit $112k
  104. 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. 105. Promotions Summit 2014 PROMOTIONS ARE EXCITING 9
  106. 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. 107. Promotions Summit 2014Promotions Summit 2014 #fox50lipdu b
  108. 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. 109. Promotions Summit 2014Promotions Summit 2014 $200,000 in revenue RESULTS #PromotionsSummit
  110. 110. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  111. 111. Promotions Summit 2014Promotions Summit 2014 $100,000 in revenue RESULTS #PromotionsSummit
  112. 112. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  113. 113. Promotions Summit 2014Promotions Summit 2014
  114. 114. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  115. 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. 116. Promotions Summit 2014 WHY NOT YOU? 10
  117. 117. Promotions Summit 2014#PromotionsSummit “Be an internal change agent in your organizations.” #PromotionsSummit
  118. 118. Promotions Summit 2014Promotions Summit 2014 CARDS SPA CARD #PromotionsSummit
  119. 119. Promotions Summit 2014Promotions Summit 2014
  120. 120. Promotions Summit 2014Promotions Summit 2014
  121. 121. Promotions Summit 2014#PromotionsSummit
  122. 122. Promotions Summit 2014Promotions Summit 2014 STORES $168,000 in Revenue #PromotionsSummit
  123. 123. Promotions Summit 2014Promotions Summit 2014
  124. 124. Promotions Summit 2014Promotions Summit 2014 EVENTS + PROMOTIONS #PromotionsSummit
  125. 125. Promotions Summit 2014Promotions Summit 2014 ADVERTISER CONTEST #PromotionsSummit
  126. 126. Promotions Summit 2014Promotions Summit 2014 GROUP SWEEPSTAKES #PromotionsSummit
  127. 127. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  128. 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. 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. 130. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  131. 131. Promotions Summit 2014Promotions Summit 2014#PromotionsSummit
  132. 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. 133. Promotions Summit 2014 secondstreetlab.com/summit
  134. 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

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