Transcript You - How Perks Works

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
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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?
What is PERKS?
• PERKS is the primary product of Entercom’s e-commerce
initiative
• The PERKS’ objective is to develop significant direct-toconsumer based revenue
• Our Director of e-Commerce, Joanne Everhart, leads this effort
• Our listeners are invited by on-air and streamed mentions,
messages, emails, 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
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…
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–
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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.
The Entercom
PERKS Difference
Daily
Entercom
Clients
Implied Endorsement By Station
talent
X
Other Group
Buying Clients
On Air Exposure
Reaching Thousands Of Fans
X
Internet Radio
X
Text
X
Email Database
X
X
Social Media
X
X
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
•
PERKS is Targeted
•
PERKS Offers a Trusted Endorsement
•
PERKS Provides a Fast, Measurable Response
•
PERKS can Reinforce Other Marketing Efforts
– There is no less expensive way to get your client’s message in front of large
numbers of local consumers
– We promote to a select group of like-minded consumers – our listeners – that
look to us for information and offers
– Our listeners trust our endorsement and implied recommendation of your client’s
business
– Compelling offers should generate measurable response in days…not weeks
or months
– 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, email
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
An Example
Step #1
Step #2
Step #3
Commit to
Program
Offer Launched Across
Integrated PERKS Platform
Response Tabulated,
Check Received
A multi-location
restaurant offered
$50.00 deal vouchers
for $25.00
500 were sold within
10 minutes!
On the air and Internet
radio, web display, social
networking, database
marketing and text
Entercom sent a check
for $5,000 to Halfway Cafe
and Halfway Café received
500 customers ready to
spend more
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 $12.50. 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
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 24-48 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
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On air mentions
Recorded commercials
Internet radio commercials
Graphic email
Facebook
Twitter
Mobile text messaging
Here are some audio examples of PERKS messages:
Radio
Example of
specific deal
promotion
Example of
“Evergreen”
Commercial
Example of Live
Read
Featured Deal
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
Email
A dedicated email
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)
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 Score
Deal Quality
0-6
Unsatisfactory
6-12
Less than Average
12-18
Average
18-24
Above Average
Ok (2)
Good (3)
Great! (4)
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. Email use | 3. Phone use
Presenting
PERKS
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 + Email 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
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)
“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
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, email blasts,
Facebook and more – to promote your offer to our fans
3.
Our fans go online to www.getmyperks.com
to purchase your offer and we handle all fulfillment and
customer service
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
Step #1
Step #2
Step #3
Commit to
Program
Offer Launched Across
Integrated PERKS Platform
Response Tabulated,
Check Received
A multi-location
restaurant offered
$50.00 deal vouchers
for $25.00
500 were sold within
10 minutes!
On the air and Internet
radio, web display, social
networking, database
marketing and text
Entercom sent a check
for $5,000 to Halfway Cafe
and Halfway Café received
500 customers ready to
spend more
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
Marketing Assets
YES
On-Air Commercials
a
a
a
a
On-Air Giveaways Read By Talent
Internet Radio Commercials
Dedicated Email Featuring YOUR PERK
Social Media
Text to Win
Web Display
Facebook
and Twitter
a
a
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.
Merchant Category
Location
Units Sold
Total Revenue
Merchant’s Share
Liquor Store Chain
Denver, CO
4,016
$60,015
$18,005
Deluxe Hotel
Portland, OR
586
$58,345
$17,504
Inn and Spa
Madison, WI
892
$44,600
$13,380
Chain of Retail
Candy Stores
Wilkes-Barre, PA
3,210
$40,100
$12,035
Salon and Spa
Buffalo, NY
1,002
$25,050
$7,515
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
“I don’t
buy restaurant deals.
I’m a bigger fan
of coupons.”
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 email
and text and through social
networking.
The share of revenue you will receive
can help you fund this without
increasing your existing budget.
PERKS Marketing Extension
One Example
The Consumer
hears and sees
your call to
action…
• Email
• 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 email box will pop
up so you can let your manager know.
Select
“PERKS
Quizzes”
to begin the
test.
Q&A