Top Takeaways from the Promotions Summit

Promotions Summit 2014

Promotions Summit 2014Promotions Summit 2014
Julie Foley
Director of Affiliate Success
Second Street
@julie_foley
PRESENTERS
#PromotionsSummit
Matt Chaney
Second Street
@mattchaney
Matt Coen
President & Co-Founder
Second Street
@mattcoen

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

secondstreetlab.com/summit

WHO WE ARE

ATTENDEES
#PromotionsSummit

Promotions Summit 2014Promotions Summit 2014#PromotionsSummit

Promotions Summit 2014#PromotionsSummit

I feel the need.
The need for
promotions.
Top Gun

#PromotionsSummit

WHY NOT YOU?
#PromotionsSummit

SHIFT IN SPEND
1

#PromotionsSummit

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

“Don’t underestimate
your potential.”

“I want you to think big
and I want you to think
differently.”

“Advertisers want
results you can
measure those results
with promotions.”

NEXT STEP:
#PromotionsSummit
Next Step:
Think big, think
differently and ask for
more resources to
maximize your
promotions revenue.

ADVERTISERS WANT
MEASURABLE RESULTS AND
PROMOTIONS DELIVER THEM
2

1.  Generate Leads
2.  Drive Foot Traffic
3.  Grow Social Engagement
4.  Grow Email Database
5.  Collect Data
WHAT ADVERTISERS WANT
#PromotionsSummit

The Challenge:
Double the Number of
Weddings Booked during
their Season

THE SOLUTION
#PromotionsSummit

“The resort had 10 weddings booked as a result
of the contest.”
- Elizabeth Perry, Cox Media Group

The Challenge:
Grow Foot Traffic during
Slow Period + Increase
Awareness

“To date, we've done a half million dollars with
just this one account doing deals.”
- J. Tom Shaw, Shaw Media

The Challenge:
Increase Foot Traffic

“The advertiser was thrilled with all the new
customers they saw as a result of the deal.”
- Brenda Fedak, Belleville News-Democrat

The Challenge:
Grow Facebook Likes and
Email List + Sell $18k in
Gift Cards

“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

The Challenge:
Grow Awareness and
Email Database

THE SOLUTION
Facebook
sweepstakes
and integrated
print & online
campaign
#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

NEXT STEP:
#PromotionsSummit
Next Step:
Start every sales call
with a needs analysis
conversation and pitch
promotions designed to
meet those needs.

THERE ARE FOUR PILLARS
TO PROMOTIONS SUCCESS 3

FOUR PILLARS
Planning
Growing Database
Empowering Your Sales Team
Leveraging Promotional Tools

"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.”

"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."

NEXT STEP:
#PromotionsSummit
Next Step:
Develop and implement
a promotions plan that
includes a calendar and
a goal for revenue &
database growth.

OPTIMIZE, EXPERIMENT
AND INVEST IN RESOURCES 4

ONLINE FORMATS – MARKET TOTAL
#PromotionsSummit

YOUR PROMOTIONS RESOURCE
#PromotionsSummit

ACTIONABLE CONTENT
#PromotionsSummit

PLAYBOOKS
#PromotionsSummit

DOWNLOADABLE WORKSHEETS
#PromotionsSummit

NEWSLETTER
#PromotionsSummit

REPORT CARDS
#PromotionsSummit

“92% of local sales managers
believe more digital sales
training is needed.”

believe more digital sales
training is needed.”
rate their sales rep’s ability to
sell digital as poor.”

ON DEMAND TRAINING
#PromotionsSummit

Contest Sales Planning Contest Sales
Deal Sales

Earn Certification

NEXT STEP:
#PromotionsSummit
Next Step:
Sign up for Promotions
University and visit
secondstreetlab.com
/summit to download
more resources.

DATA HAS POWER
5

“There might be some gold
hidden in your database that
you’re not seeing today.”

350 YEARS AGO
#PromotionsSummit
Antonie van
Leeuwenhoek
Peered Through
The Microscope

WHAT HE SAW
#PromotionsSummit
300
Years
Later

DNA
#PromotionsSummit
850,000X

WHAT IF WE
BUILT A BETTER
MICROSCOPE?
#PromotionsSummit

UNDER THE MICROSCOPE
#PromotionsSummit
Data
DNA

WITH RICHER
PROFILES, WE
CAN APPLY
FILTERS
#PromotionsSummit

APPLYING FILTERS
#PromotionsSummit

APPLYING FILTERS
#PromotionsSummit
Wants to
refinance their
home?

APPLYING FILTERS
#PromotionsSummit
Needs an oil
change?

APPLYING FILTERS
#PromotionsSummit
Looking to
purchase
jewelry?

APPLYING FILTERS
#PromotionsSummit
In the market for
a new car?

APPLYING FILTERS
#PromotionsSummit
Likes Mexican
Food?

PROMOTIONS
ALLOW YOU TO
EXPLICITELY ASK
#PromotionsSummit

PROMOTIONS
ALLOW YOU TO
INFER DATA
#PromotionsSummit

NEXT STEP:
#PromotionsSummit
Next Step:
Run more promotions to
collect more data.
Definitely run a ballot –
it’s a data goldmine.

BALLOTS DRIVE AUDIENCE
AND REVENUE YEAR ROUND 6

“We generated $75k at an 8k circulation paper
with our Reader’s Choice program.”
- Vince Johnson, Morris Multimedia

“The level of engagement and the level of
voting was unbelievable.”
- Blair Barna, Charleston City Paper

“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

“We had a 47% increase in participation, plus
made over $70k.“
- Jamie Kinnaird, BH Media

NEXT STEP:
#PromotionsSummit
Next Step:
Add ballots to your
promotions calendar.

DON’T BE AFRAID TO
SELL RESULTS 7

“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”

“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!”

“Make sure
reps are
having needs
analysis
conversation”
“Have a digital
only sales
team – it
makes all the
difference in
revenue.”

NEXT STEP:
#PromotionsSummit
Next Step:
Have the confidence
that you can deliver the
results your advertisers
want with promotions.

ECOMMERCE PROMOTIONS
WORK FOR EVERYONE 8

“At $2MM, our deals
program is a huge
amount of our annual
digital revenue.”

“Last
year
we
generated

over
$580,000
in
gross

revenue
from
deals

stores
alone.”

Cyber
Monday
Store
#PromotionsSummit

“We’ve made $85k
with our golf card so
far this year.”

JS ONLINE
#PromotionsSummit

WISE-TV
#PromotionsSummit
$112k

NEXT STEP:
#PromotionsSummit
Next Step:
Whether you have a
deals program or not,
run an ecommerce
promotion type you
haven’t tried before.

PROMOTIONS ARE EXCITING
9

“There isn’t anything cooler than
putting together a great idea that
helps fulfill an advertiser’s
objective.”
– Marty Carry

#fox50lipdu
b

“Do something your whole crew can have fun
with. Our whole station participates and we
have a blast!”
– Terri Overby, WRAZ Fox 50

$200,000
in revenue
RESULTS
#PromotionsSummit

$100,000
in revenue
RESULTS
#PromotionsSummit

NEXT STEP:
#PromotionsSummit
Next Step:
Have fun. Promotions
should be fun to sell,
and fun for your
audience and
advertisers.

WHY NOT YOU?
10

“Be an internal change
agent in your
organizations.”
#PromotionsSummit

CARDS
SPA CARD
#PromotionsSummit

STORES
$168,000
in Revenue
#PromotionsSummit

EVENTS + PROMOTIONS
#PromotionsSummit

ADVERTISER CONTEST
#PromotionsSummit

GROUP SWEEPSTAKES
#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

NEXT STEP:
#PromotionsSummit
Next Step:
Take an idea from the
summit and implement
it. What are you waiting
for?

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

Julie Foley
Second Street
@julie_foley
THANK YOU
#PromotionsSummit
Matt Chaney
Second Street
@mattchaney
Matt Coen
President & Co-Founder
Second Street
@mattcoen

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