Presentation on theme: "Making PERKS Work for You and Your Clients An Entercom RAMP Workshop Overview Weezie Kramer’s Markets | 3/17/11."— Presentation transcript:
Making PERKS Work for You and Your Clients An Entercom RAMP Workshop Overview Weezie Kramer’s Markets | 3/17/11
Making PERKS Work for You and Your Clients An Entercom RAMP Workshop
Workshop Agenda What is PERKS? The PERKS Opportunity for Entercom The Entercom PERKS Edge How PERKS Works for Your Clients How PERKS Works for You The PERKS Program – How Your Client is Featured Effective PERKS Prospecting Presenting PERKS Handling Client FAQs Executing a PERKS Deal Q&A Quiz!
What is PERKS?
PERKS is the primary product of Entercom’s e-commerce initiative The PERKS’ objective is to develop significant direct-to- consumer based revenue Our Director of e-Commerce, Joanne Everhart, leads this effort Our listeners are invited by on-air and streamed mentions, messages, s, Facebook, Twitter and/or text messages to purchase digitally delivered deal vouchers from select advertisers at a 50%+ discount –We share in the proceeds with the client and we keep the rest (which is commissionable to you)
The PERKS Opportunity
Groupon was first in this space and in less then three years they are forecasting $400,000,000 in revenue. –Groupon is now focusing on local and national accounts. A recent Gap deal yielded $11MM in one day. Living Social, Buy with Me, Yelp, Facebook, Amazon and others followed. Google recently announced they were jumping in, too with a focus on local business. –These companies are all calling on your local accounts right now. Why? The business model works for consumers and merchants. Merchants get cost efficient access to consumers and consumers get real value.
The PERKS Opportunity As an Entercom A.E. you get… –A low-risk sales opportunity that easily opens doors –An expanded list of prospects made up of businesses that don’t typically use radio –A turn-key asset with unlimited revenue and commission potential –An opportunity to upsell PERKS’ clients into other programs Your Clients get… –Guaranteed customers, by accessing our engaged fan base –A cash-free, multi-platform marketing campaign –Cash via revenue share with us –New funds they can reinvest into another marketing program
The Entercom PERKS Difference
Our Fans Give Us A Unique Edge Entercom puts the power of its fan base to work for select businesses that we know will resonate with our fans. Our fans are engaged with our stations – they love our programming and our personalities and they listen and interact wherever they are. Other programs covet our built-in fan base. Your client is introduced and branded to our fans by our stations and the personalities. Your client benefits from the association and we benefit from an ongoing relationship with the client. All at no cost and no risk to your client.
Daily Entercom Clients Other Group Buying Clients Implied Endorsement By Station talent X On Air Exposure Reaching Thousands Of Fans X Internet RadioX TextX DatabaseXX Social MediaXX The Entercom PERKS Difference
Why PERKS? We know that 40% of Groupon’s customers have vowed not to work with Groupon again. Why? They failed to see an ROI. Our program is different by design. Groupon is a national company focused on huge volumes. This has caused some local merchants to experience huge Groupon sales only to be inundated and overwhelmed as a result. We tailor a program for the client who, like us, is a member of the local business community. We customize the PERKS experience to create the best possible customer and client satisfaction. We strive to strike a balance – help the client attract new customers without overwhelming their infrastructure. We can limit purchases per customer, per deal or by time.
How PERKS Works for Your Clients
Why Should Your Client Use PERKS? PERKS is Cost Effective –There is no less expensive way to get your client’s message in front of large numbers of local consumers PERKS is Targeted –We promote to a select group of like-minded consumers – our listeners – that look to us for information and offers PERKS Offers a Trusted Endorsement –Our listeners trust our endorsement and implied recommendation of your client’s business PERKS Provides a Fast, Measurable Response –Compelling offers should generate measurable response in days…not weeks or months PERKS can Reinforce Other Marketing Efforts –Direct-to-consumer marketing to our listeners makes on-air messages more relevant, compelling, and memorable
How PERKS Works You work with your client to create an enticing offer We simultaneously leverage our assets – radio talent, websites, databases, text, Facebook and more – to promote the offer to our fans Consumers go online to purchase your client’s offer and we handle all aspects of the sale, fulfillment and customer service You receive a commission on our portion of the revenue – the more we sell, the more you make Your client receives their portion of the revenue on a monthly basis, within thirty days after the end of each month. Any portion that is turned to credit for use in future marketing must be used within 90 days from the date the last certificate was sold Our fans visit your client’s locations to redeem the deal voucher, and often spend more and bring their friends and/or family
On the air and Internet radio, web display, social networking, database marketing and text Step #2 Offer Launched Across Integrated PERKS Platform Step #1 Commit to Program A multi-location restaurant offered $50.00 deal vouchers for $ were sold within 10 minutes! Entercom sent a check for $5,000 to Halfway Cafe and Halfway Café received 500 customers ready to spend more Step #3 Response Tabulated, Check Received An Example
Sample PERKS Case Studies
Disney On Ice Objective: Entercom approached Feld Entertainment with the idea of using Sacramento PERKS to boost awareness and last-minute ticket sales for their run of Disney on Ice shows. Tactics: Sell two upper-level ticket options at half price for 48 hours. Buyers could purchase up to 12 tickets each. Deal vouchers were printed at home and could be redeemed at will call for seats at the buyer’s choices of 8 available performances. Results: 1,624 certificates for nearly $14,000 in sales. “I was blown away by how successful and the volume of tickets we moved! Thank you!” Lauren Hall – Event Marketing & Sales Mgr. Feld Entertainment
Da Vinci Teeth Whitening Objective: Da Vinci Teeth Whitening was looking to bring in new customers to try an in-office laser teeth-whitening treatment. Solution: Using Entercom PERKS, Da Vinci Teeth Whitening educated tens of thousands about their easy, fast and painless procedure and promoted a special offer for trial. The offer was $102 for a 60 Minute In-Office Laser Teeth Whitening (a $346 Value). Results: The limited offer deal sold in record time driving 200 new customers to DaVinci Teeth Whitening locations in Denver.
Gertrude Hawk Chocolates Objective: A chocolate shop with multiple locations wanted to drive product sales around Valentine’s Day. Solution: Using Entercom PERKS, Gertrude Hawk Chocolates encouraged men and women to indulge their loved ones with an offer to buy $25 in chocolate for $ Supplies were unlimited and 23 locations participated. Results: Over 3,000 deal vouchers were purchased in one 24 hour period. Gertrude Hawk then reinvested their portion of the revenue share into a traditional on air campaign. Since the first PERK deal, Gertrude Hawk has successfully launched two other deals and is contracted for 4 throughout the calendar year.
How PERKS Works for You
PERKS gets you more clients. It’s a door opener to a group of clients that may have never done business with us before The predictable ROI is appealing to merchants with smaller budgets, making it easier to sell You make a commission on what sells in your market and if your deals sell in other markets The program is completely turnkey and easy to execute The vendor handles fulfillment and customer service so you don’t have to You are set up to upsell the client into another program as PERKS can create a market budget at no cost to them
Making Money with PERKS There are three ways you can impact how much you make selling PERKS The higher our share of revenue, the more you make –The commission scale is designed so as our share of revenue goes up, so does your commission The more we sell, the more you make –Once a deal generates over $12,500 in total gross revenue in a market, you earn more The more Entercom markets involved, the more you make –When you sign a deal with your client that involves multiple markets, you get a commission on all sales as the originating Account Executive Have your manager review the commission structure with you
The PERKS Program How Your Client is Featured
Here’s How Your Client is Featured Your client will be a featured PERKS merchant according to the negotiated terms of the contract (usually hours). In the first 24 hours of the deal being featured, we will simultaneously deploy a myriad of marketing assets designed to point people to the deal so they can take action. After the deal has been featured, it can be moved to the All Deals page to continue selling. Check with your manager for specific rules in your market regarding length of stay on the All Deals page On air mentions Recorded commercials Internet radio commercials Graphic Facebook Twitter Mobile text messaging Here are some audio examples of PERKS messages:
Example of “Evergreen” Commercial Radio Example of Live Read Example of specific deal promotion
1. First, the client is a PERKS Featured Deal 2. Then the deal is moved to the All Deals page till the deal is sold out or the contracted time expires Featured Deal
A dedicated goes to all subscribers directing them to the Featured Deal
Social Campaigns Social media is launched to point people to the Daily Deal encouraging them to share with their friends, so it grows virally
Mobile Mobile Apps Text
After PERKS The Stage Is Set For The Next Campaign Perks can help your client create a new budget that will allow them to extend their messaging further to our audiences.
Effective PERKS Prospecting
What Are The Best PERKS Accounts? The Best Accounts Have Six Things in Common: 1.Demographic Match – The best accounts line up well demographically with the cluster 2.Positive Brand Strength – Strong, positive brands make it easier for the consumer to decide 3.Mass Appeal – Everyone has to eat, so 100% of consumers are potential buyers for a restaurant. Compare that with spas, and it’s more like 60%. A specialized service, like learning to be a DJ, would be much lower 4.Locations – People like to shop near work or home. Multiple locations in high density areas are best in zip codes that resonate with your audience 5.A Really Good Deal – If the price seems high, people want to think it over. If it’s too low, people may view it as a waste of time to purchase 6.Few Limitations and Exclusions – Have you ever read an offer that looked awesome, only to read a ton of fine print? Too much is a serious “turn off”
Here Are Our Top Five PERKS Categories 1.Restaurants (#1 by far) People have to eat – they like a good deal on a great place to go 2.Spas and Salons The more general the service the better 3.Multi-location retail that everyone needs Car maintenance, car wash, dry beverage stores, general retail 4.Fun things to do close to home Golf, family fun centers, festivals, tickets, the zoo, aquarium, Imax, museums, comedy clubs, movies 5.Regional Tourism What’s a couple hours drive away? The beach? Skiing? Landmarks? Parks? Camping? Getaways?
PERKS Prospecting Tips Survey your PD and on air talent – where do they like to go? What categories resonate with our fans? Review qualitative data to understand where your audience spends time and money –Scarborough, MediaAudit, Retail Spending Power, Golddigger (RAB.com) Prospect where your listeners live. Ask friends who match the profile
PERKS Prospecting Tips Review your current list for clients and brands with mass appeal Review Groupon, Livingsocial and other group buying deals in the last 90 days that have broad appeal Use social media tools –Yelp, Citysearch, Facebook, Google, restaurant reviews from local websites, Yellowbook.com and other online services - for ratings and reviews
Activity Create a list of prospects that you think would benefit from PERKS
Assign Each PERKS Prospect a Score Not Really (1)Ok (2)Good (3)Great! (4) Merchant and offer are a bull's-eye fit for our demographic Merchant location matches our hot zips Merchant has multiple Locations or is a destination location Merchant’s website is high quality Offer is hot, few restrictions Business has at least three positive reviews Overall Score: Overall ScoreDeal Quality 0-6Unsatisfactory 6-12Less than Average 12-18Average 18-24Above Average
PERKS VBRs Door Openers that Work Discussion: What VBRs have been effective for you in the past?
Activity Create three VBRs from your prospect list 1. In person use | 2. use | 3. Phone use
The PERKS Sales Presentation Follows This is a generic corporate version. Your market has a custom version for your use.
A Cashless Marketing Opportunity for Acme Widgets, Inc. Presented To: ________________________ Presented By: ________________________
What is PERKS? PERKS can help your business grow without having to spend money. This cashless marketing opportunity can help you: Develop new customers Add new, incremental revenue How? Through Powerful Integrated Media Local Radio + Social Media + Marketing + Digital Display The result? You’ll be featured to thousands of new customers who are fans of our radio stations and local radio personalities. And, most importantly, you’ll profit along the way through our revenue sharing program.
Who buys? Four Different Types “With children 5, 10 and 15, I am always looking at ways to make things fun on a limited budget. I love being able to search PERKS since that’s where I live, work and play.” – Helen, Mother of four Fun Seeker (looks for quality experiences and events to fill weekends) Impulse Buyer (on the hunt for deals too good to pass up) Bargain Shopper (Religiously trolls PERKS site to find the best values ) Innovator (on the lookout for something new and untried)
Here’s How It Works 1.We collaboratively create a great offer to entice our fans to buy 2.We simultaneously leverage our marketing assets on your behalf – personalities, websites, blasts, Facebook and more – to promote your offer to our fans 3.Our fans go online to to purchase your offer and we handle all fulfillment and customer servicewww.getmyperks.com 4.You receive 30% of the revenue generated by the offer. Take the proceeds to your bottom line or reinvest the proceeds back into a larger integrated marketing campaign. 5.Our fans redeem the deal voucher, and often spend more and bring their friends or family
On the air and Internet radio, web display, social networking, database marketing and text Step #2 Offer Launched Across Integrated PERKS Platform Step #1 Commit to Program A multi-location restaurant offered $50.00 deal vouchers for $ were sold within 10 minutes! Entercom sent a check for $5,000 to Halfway Cafe and Halfway Café received 500 customers ready to spend more Step #3 Response Tabulated, Check Received
Step #4 Enjoy Ongoing Results The result? Our fans learn about you and your business enjoys new customers and enhanced revenues at no cost to you.
PERKS Is Different From Other Group Buying Programs Here’s why... Entercom puts the power of its fan base to work for select businesses like yours that we know will resonate with our fans. Our fans are engaged with our stations—they love our programming and our personalities and they listen and interact wherever they are—at work, at home, in the car, and more. Your business is introduced and branded to our fans by our stations and personalities. You reap the benefit of the association with our brands. And we benefit from an ongoing relationship with you. You will drive profits through the revenue share arrangement. All at no cost and no risk to you.
Your business will be featured in an integrated marketing PERKS campaign timed to your offer
The Best Part? We will not only bring you customers...we will pay you, too! Your business will receive 30% of the net revenue generated, in addition to any additional money spent when the consumer redeems their deal voucher. Here are just a few examples of the hundreds of businesses nationwide who have experienced success with PERKS. Note – the merchant’s share is subject to a 3% processing fee.
Next Steps Brainstorm compelling offer Review copy/deal points Reserve your date “I tried PERKS and I'm sold. I have new customers who spent above the deal amount, new people are coming in based on their referrals and I didn't have to spend a dime.”
The following slides are available to add to PERKS’ client presentations when warranted.
Marketing Extension: Reach New Consumers Beyond PERKS While PERKS seems like a deal too good to pass up, a significant number of listeners will do just that. This is an opportunity for you to extend a different type of offer to these listeners who have already been exposed to your business. An integrated campaign can be developed to help you reach new customers on the air, online, via and text and through social networking. The share of revenue you will receive can help you fund this without increasing your existing budget. “I don’t buy restaurant deals. I’m a bigger fan of coupons.”
PERKS Marketing Extension One Example The Consumer hears and sees your call to action… Online Radio Audio Video Consumer Opts In…. User requests information via text message thus beginning a one-to–one ongoing dialogue. and immediately receives your message with: Featured Deal Chances To Win Instant Alerts On Deals
Next Steps Brainstorm Offers Package Positioning Reserve your Featured Deal Dates Discuss PERKS Marketing Extension Plans “Testimonial goes here…”
Activity Presenting PERKS
Client FAQs Discussion: What are the most common questions clients have about PERKS? Have you fully read and understand the PERKS Merchant Agreement and all the laws and exclusions it mentions?
Quiz! Take the PERKS Quiz! When you pass, an box will pop up so you can let your manager know.