Presentation on theme: "Presented by: Peter Feinstein CEO Higher Power Marketing."— Presentation transcript:
Presented by: Peter Feinstein CEO Higher Power Marketing
COMPANY LOGO WAS HERE What exactly is PI Advertising? PI Advertising Defined: Per Inquiry advertising is advertising that is placed in the media’s unsold inventory at no charge to the client; the client instead agrees in advance, to pay a set price for a predetermined type of response. Types of response include: answered calls, calls lasting “x” (or more) seconds, calls that result in acquiring certain caller information, i.e., Name, Address, City, State, Zip and Phone (usually referred to as NACSZP) or even calls resulting in a sale. And we do web-based responses too!
COMPANY LOGO WAS HERE You lose all control over when and where your client’s message runs. No real demographic targeting (although we actually do some targeting) No time of day or day of week restrictions. No location restrictions on where ads run (although we can filter out responses from locations where clients do business-more on this later) No ‘section’ of newspaper restrictions. Your pure brand image oriented advertising must be replaced with advertising that requires a consumer response, i.e., Direct Response (DR). Name the consumer’s existing problem. Identify the solution the consumer is looking for to remedy the problem. Prove the client has the solution. Demand consumer response to acquire the solution.
COMPANY LOGO WAS HERE Advertising that has a proven track record at activating the market (NOT advertisers, but the ADVERTISING) Your client’s ads must have demonstrated that they can produce a response. We test every ad and establish ROI metrics before we bring any advertiser to our PI Media Partners. You can buy the time/space or we can do it for you (you’ll probably want us to do it for you). The response must be relevant to the client’s desired type of response. If the client wants informational leads as the type of response they’re willing to pay for, then the ad’s metrics must be measured based on that type of response.
COMPANY LOGO WAS HERE The media is giving us their time/space for free…we do not make them produce the ads. Radio We charge $599.00 to write and produce each original radio commercial regardless of the length of the spot. We charge $79.00 to produce each radio dub. Newspaper We charge $999.00 to write and produce each original newspaper ad. We charge $99.00 to produce each different set of ads. TV TV production varies, but figure between $13K and $28K for a :60 TV commercial. We charge $79.00 to produce each TV dub. Speedy delivery of ads… typically 48-72 hours, or faster from when the media requests an ad.
COMPANY LOGO WAS HERE Reporting of responses for each advertiser Timely Accurate Payment for responses Timely Accurate
COMPANY LOGO WAS HERE In print and TV we can use both a unique toll-free number and a unique URL. In radio we can use one or the other, or both ONLY if the URL is the toll-free number, i.e., 18885551212.com We use unique toll- free numbers and Unique URL’s in every ad Each media outlet we use receives a unique toll-free phone number or a unique URL. We procure most toll-free numbers for our clients; we can do the same for you. Toll-free numbers can cost you up to $300 a year if you don’t know where to find them. HPM’s toll-free numbers are only $30 per year. Toll-free per minute fees can run up to $0.11 per minute HPM’s toll-free per minute fees are just $0.05 per minute
COMPANY LOGO WAS HERE Every action is tracked via independent 3 rd party companies. Contract call centers. Contract Call- Tracking companies. HPM-accessible entry to website analytics. Reporting is delivered to us by every action-tracking entity by 12noon Arizona time every Monday. We process all data between 4pm and 10pm Arizona time every Monday night. We distribute response (lead count) data to our media partners overnight Monday so it’s in their inbox every Tuesday morning.
COMPANY LOGO WAS HERE How do I know if my clients qualify? Ideal candidates for PI are clients that can do business nationally or even in Canada. o Minimally we look for coverage in at least 40 of the 50 states, ideally including all or most of these states: California New York New Jersey Connecticut Massachusetts Florida Ohio Pennsylvania Texas Illinois Washington (state) North and South Carolina
COMPANY LOGO WAS HERE Darn near everything! From Health Insurance to Life Insurance From Movie clubs to Cell phone services From Magazine Subscriptions to Charities (yes, charities)
COMPANY LOGO WAS HERE Yes and No! Both brands still advertise on a PI basis, but there is so much more… here are some category idea-starters for you: o Life insurance quotes o Health Insurance o Cosmetics o Work at home opportunities o Cell phone providers o Computer software o Charities o Sweepstakes to build marketing databases o Education (higher, lower, private, improvement) o Medical products o Self-improvement (business knowledge) o Resorts o Vacation destinations (visitor bureaus) o Financial products of nearly any kind Mortgage Reverse Mortgage Loan Modification Identity Theft Credit Cards
COMPANY LOGO WAS HERE Radio Group Owned stations Unwired Networks Wired Networks Satellite Radio Program Syndication 60’s and 30’s Some traffic reports TV Local Broadcast Local/Regional Cable National Cable Program Syndication Satellite Shortform Longform Print Newspaper Display Classified Traditional Media
COMPANY LOGO WAS HERE Mobile- Web surfing on cell phones, Blackberry, Palm and iPhone devises Banner ads Custom made landing pages Streaming audio Streaming video Direct connect to call centers Direct connect to websites. Interactive TV- Nationally syndicated & Network shows Viewers call into the show’s toll-free number Interact with TV show’s content Stay on the phone and get to hear up to five (5) client audio ads Press 1 to go to call center, press 2 to go to the next ad. Uncharted Territory We’re constantly watching trends for new PI Media Placement opportunities What’s Next: CPC editorial website content! Non-Traditional Media
COMPANY LOGO WAS HERE 98% of all radio listeners 96% of all TV viewers 44% of all newspaper circulation Everywhere, Literally! Our media distribution foot print covers:
COMPANY LOGO WAS HERE Mobile Media delivers over 2 billion ad impressions each week! Interactive TV runs in nationally syndicated shows, national broadcast and national cable networks. Divorce Court Judge David Young Judge Joe Brown Family Court with Judge Penny Judge Alex The Doctors GSN Live Merv Griffin Crossword Family Feud Inside Edition Everywhere, Literally! Our media distribution foot print covers:
COMPANY LOGO WAS HERE 24 / 7 / 365 We put no time, or day, or location restrictions on our media partners. Monday-Sunday 5am-5am on radio and TV ROP for all print vehicles. The rationale for removing all time, day and location restrictions: PI relies on unsold inventory, which is not always in big supply. Unsold inventory is not usually available in a medium’s prime time or space; we accept what we can get. The client is only paying for predefined, qualified leads… since a lead is a lead, is a lead, we run our clients’ ads all the time so they have the best opportunity of generating leads!
COMPANY LOGO WAS HERE The things you hang your hat on, to a certain extent, don’t apply. Many of the principals of brand image oriented advertising go out the window. Creative for the sake of creative (and winning awards) is rendered irrelevant. You probably can’t use the copy you’ve been using in paid media. You should leave copywriting (and production) to an experienced DR agency. “Creative” is a noun not a verb…it’s an ad, not an act… not in DR. Media planning and buying is rendered largely irrelevant. The importance of demographic targeting drops to the bottom of the list of priorities. The kind of media to be used is almost as important as demographic targeting, which is to say, not as much as you may believe and practice on a day to day basis with your current clients. Are you willing to check your ego at the door?
COMPANY LOGO WAS HERE Ads are created for one purpose: to produce results. We test ads with small but telling paid media buys. o When an ad shows it works as well as or better than our control ad, we typically distribute it to our PI media partners. o Ads that don’t produce results are immediately dismissed from duty; there’s no hand-wringing or teeth-gnashing. We place ads on our PI Media partners that we already know are going to produce results. We can now track every single call or URL visit o Our contract call tracking company generates every toll-free number we need We give each media outlet their own unique toll-free number. We record every call To see how call center people answer calls (QC/Training) To see how consumers are responding to advertising message and our call center script. We write call center scripts. We train call centers on how to answer phones and treat consumers. We test call centers to see how well they’ve integrated their training. Everything we do, we do for results.
COMPANY LOGO WAS HERE We require a deposit for a minimum of 500 leads plus a security deposit of another 100 leads. How much per lead depends on three (3) criteria: The product category… there are per-lead price ranges for nearly every category. The creative’s call to action (what are you giving the consumer to respond to), also known as “the offer” The lead definition You’ll pay less per lead where the definition is “any answered call” than if “any unique call for the past 45 days where the caller’s name, address, city, state, zip and phone number are collected” is the lead definition. The commitment by your client to continue the PI program indefinitely if our initial rollout appears successful. The commitment by client that they won't put a cap on the number of leads they'll accept from HPM (based on the agreed upon definition) - unless previously agreed upon by all parties.
COMPANY LOGO WAS HERE First the pitfalls… PI is NOT a panacea; it should only account for between 15- 50% of a client’s overall marketing and advertising strategy. PI relies on unsold inventory, which is by its nature unpredictable; hence PI lead production is unpredictable. PI does not reach every media outlet even though it reaches nearly every media consuming person in the country. There is inherent waste in PI; for as much as we optimize our media partner relationships, not every outlet is effective for every client, so we choose mass distribution over selective distribution to make sure we’re doing the best job we can for your clients. Between 50% to 65% of radio dubs will be effective. Between 40% to 55% of TV dubs will be effective. Between 80% to 90% of newspaper copies will be effective. Even in knowing which media outlets are NOT working at a given time may only mean that they aren’t running an ad because they’re sold out. Pulling that ad may be more detrimental than just letting the media hold on to it until they can run it.
COMPANY LOGO WAS HERE Measureable, Trackable results “I know half of my advertising works, I just don’t know which half.” Now you’ll be able to tell them which half. Even if you don’t do PI, we can offer you tools to accurately track every call from every ad you produce/place for them so that you can evaluate which ads work better with which media. We’ll share with you how to do this with web urls as well. Stabilizes their cost per lead. Each medium you buy will yield a different cost per lead/acquisition (cpl) for your client. PI advertising gives you the ability to offer clients a stabilized cpl across many media. All but eliminates wobbles or cpl yield fluctuations due to changes in media pricing. Get more media without spending a lot more money. Expand from one medium into several for production costs and lead deposits instead of production and media costs. Saves clients about 80% of what they’d spend for the same kind of paid media rollout Lead deposits are refundable, vastly reducing their risk of loss. If they were doing paid media their production and media would be risked. With PI only their production investment is at risk.
COMPANY LOGO WAS HERE Gives you the capacity to promise the client complete media accountability. We offer you a money back guarantee We track each ad’s performance We can help you identify ads that work vs ads that don’t We can review and evaluate entire media platforms You save time and money We can be your PI division. We have the relationships We know who to talk to We know where to traffic ads We can do for your and your clients what you cannot do for yourselves or them. We will look out for your best interests We’ll let you know what we think will or won’t work We’ll make you test everything so you know you have a success before promising the client results. We’ll make you look good. You’ll be able to attract more clients and keep the ones you presently have… Being able to promise the ability to deliver direct response (DR) will be attractive to new prospective clients. Being able to show current clients how you can improve their Topline revenue while maintaining a stable cost line (improving their ROI) will make you more attractive than the shop down the street that just has great creative ideas but no way of proving performance.