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Enhance your coupon strategy with RadarFrog's comprehensive plan to boost sales, expand distribution, and improve marketing results. Utilize AdMall for prospecting and maximize coupon performance. Set goals, refresh strategies, and drive revenue growth.
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Agenda • Timing and goals • Updated coupon research • RadarFrog refresher • Expand distribution via social media • Customizable package • Prospect list categories and messages • AdMall • Coupon performance • Block & prospect refresher • Best practices • Next steps • Prizes
Timing and goals • What – RadarFrog Block & Prospect Blitz • When – During the week of 3/12-3/16 (select days that work best for your market) – use the block and prospect blitz time to set appointments for the following week(s) • Who – All sales reps • Goals – 60 RadarFrog sales units per rep by 3/30/12
Coupons… Coupon Use refers to a free means of saving money on a product or service, versus Deals Certificates that require an upfront payment as a means to saving.
Coupon Redemption for Past 2 Years Source question for this chart: “Thinking of the coupons that you have actually redeemed in the last two years, where did you find those coupons?” Respondents = 38,089
Frequency of Coupon Usage Source question for this chart: How often do you use coupons? Respondents = 29,594
Good for Marketing! Use Coupons To … Source question for this chart: Do you use coupons to… Respondents = 37,924
Coupons Redeemed for Local Business Source question for this chart: Have you ever printed and redeemed an online coupon for a local business? Respondents = 37,813
Seek Online Coupons Before Purchasing Good for Marketing! Source question for this chart: When buying a product or service, how frequently do you go online to look for coupons before actually purchasing from a store or business? Respondents = 19,085
Coupon Usage Compared to a Year Ago Source question for this chart: Compared to a year ago, are you using coupons from any source more/less/the same than you did a year ago? Respondents = 32,291
Advertiser RESULTS Advertiser Coupon Usage Source question for this chart: Are Coupons part of your regular advertising and marketing strategy? Respondents = 729
Advertiser RESULTS New Coupons Offered Source question for this chart: If Coupons are part of your advertising strategy, how often do you present a new coupon/offer? Respondents = 343
Advertiser RESULTS Reasons Coupons Are Used Source question for this chart: If Coupons are part of your strategy, are they for ... Respondents = 329
Advertiser RESULTS Coupons and “Deals” One in five of responding advertisers reported diverting money from other models into coupons. 19% of responding advertisers participated in deal programs Source question for this chart: Have you participated in a "Deal of the Day" or similar program where consumers purchase a certificate at a discount for your business? Respondents = 731 Source question for this chart: Over the last year, have you diverted marketing dollars away from other types of advertising in order to offer coupons? Respondents = 345
RadarFrog refresher Offer Logo Image Terms Address Consumer Tools
Customizable package* *Minimum commitment of three months
Use AdMall! To pull this report in AdMall Click, “PROSPECT”-> Click, “ALL 467 LOCAL ACCOUNT TYPES”-> Select, “BUSINESS CATEGORIES,” “BUSINESS TYPES,” “STATE” and “VIEW THIS REPORT”-> Select, “Local Account Locator by Zip Code” (or “…by Mile Radius”)
Coupon performance Log in to reports.analoganalytics.com using your RadarFrog admin user name and password-> Select dates for report-> Click column header to sort by number of impressions, prints, etc.-> Click, “Download” to download report in spreadsheet form
Block and Prospect Strategy • Our competitive landscape has never had more pressure. As such, we need to resource our team, elevate our efficiencies in sales and management and increase qualified account activity to make gains in revenue • Our advertisers’ competitive landscape has never had more pressure and we need to provide increased value for our advertisers and resource our clients to assist them in their efforts to grow market share and revenue • Today, advertisers do not make choices based on what they want…They make them based on what they need… as such we must define, simplify, and strengthen our sales process & value proposition to earn advertisers’ investments
Block and Prospect Strategy • Objectives • The media landscape from an advertiser’s view and establishing targeted share of advertiser budget • Defining our sales process • Blocking time • Developing qualified target lists
Block and Prospect Strategy The Objectives of the Block and Prospect Strategy are to: • Systematically target accounts that have the most revenue potential • Organize time to reduce stress and increase results • Improve account activity to drive new revenue streams • Simplify the sales process to increase results
Block and Prospect Strategy Borrell Local Advertiser SMB Print Survey Q4 2010 and Q1 2011 Did you know? • The average # of sales approaches per month on advertisers is 25 which is up 9% from Q4 2010 • The average # of sales pitches taken per month is 7 • 64% of SMB surveyed said they would be confident or somewhat confident in letting their print reps act as their “agency” • Borrell Survey SMB Print Advertisers Survey Q4 2010 and Q1 2011
Block and Prospect Strategy • What share of advertiser budget should we get? • SMBs surveyed estimated 35.3% of their ad budgets would go to local daily, weekly or semi-weekly newspapers • SMBs surveyed estimated that another 15.2% of their ad spending would go to online and that this number would grow to 20% by the close of 2011 How do we earn our share? capture opportunities? and protect market share
Block and Prospect Strategy • While total advertiser spend is making moderate gains our competitors are aggressivelyworking tomove budgets to their products. • Earning our targeted share of media spend: • Targeting the most lucrative accounts • Increased sales activity • Improving our communication of advertiser benefits • Selling multimedia solutions
Block and Prospect Strategy Block and Prospect Strategy: Encompasses the first two steps of the sales process • Multimedia account targeting and • Managed account activity Most sales experts agree strengthening execution on beginning of the sales process delivers sellers the highest result in revenue and commissions
Block and Prospect Strategy • Block and Prospect Strategy: • Managed call days with qualified prospect lists delivering a minimum of 5 new client meetings per week • Success is this easy: • Blocked time to set appointments • Qualified Prospect lists • A strong pitch • High call volume
Block and Prospect Strategy Qualified Account Target Lists: As our objective is to sell in multimedia campaigns, our target lists must include advertisers we monitor from other media Simply put…we can’t sell multimedia unless they are advertisers who advertise in multiple media platforms which directionally indicates total media budget While with our sales process we must demonstrate we can deliver a greater ROI than other media, with advertisers, we avoid many objections such as “I don’t advertise” and “I don’t have any budget”. Targeted ad spend: Based on the Borrell SMB survey, we should be able to attain approximately 50% of an advertisers total media budget….so sales efforts on those with the largest total media spend will garner the strongest results
Block and Prospect Strategy Blocked Time Management: “Manage your time, don’t let time manage you” Best Practices: • Block call time-don’t set meetings during your block and prospect time • Prepare your target list on your call reports prior to block and prospect days • Work uninterrupted until you achieve your goal • Practice and perfect your pitch • Set appointments with the business principals • Set appointments one week in advance and geographically managed • Identify strong targets you can also cold call between your appointments throughout the rest of the week
Block and Prospect Strategy The Fuel for Your Success…Qualified Account Target Lists: Direct competitive media is the one of the top sources for qualified prospects as the advertiser already buys • Competitive print including newspapers, yellow pages, local magazines etc. • Online: all local media websites as well as other local sites Indirect competitive media is the one of the top sources for qualified prospects as the advertiser already buys • Radio Billboards Transit advertising • Broadcast and cable TV Direct mail Movie theaters • Digital Out of home Event marketing Sporting arenas
Block and Prospect Strategy • Prospect by Month • Top local prospects • Top Co-op opportunities • Cause marketing tie ins • Holiday tie ins • Local Account Locator • Ad Mall Minute
Block and Prospect Strategy • Success In Block and Prospect will significantly impact your compensation • Keys To Block and Prospect Success: • Block the same time every week for Block and Prospect • Set appointments with accounts that are aggressively marketing in competitive media • Set all meetings with owners and partners/ VPS Marketing /General Managers • Perfect your Intro Pitch to set more meetings….better meetings • Prepare for each advertiser meeting with the Ad Mall Account Intelligence Report, Diagnosis Call and reviewing the Advertiser’s website and search results
Getting Started • Generate a ton of excitement prior to the event! • Develop target lists in advance using Ad Mall. Several of our reps had 100’s of targets to call. • Make sure the lists are vetted by a manager to ensure the best prospects. • Sell Modular sizes – quarter, half and full • Make an offer your advertisers can’t refuse! • Set a goal per rep – ours was ten ads sold of any size
Execution • Set up a day for an entire team sales blitz. We created teams with the reps and appointed captains of these teams to name the team and motivate/have fun with teammates and competing teams. • Establish spiffs for the call blitz for team and individual performance. Examples include first team to x sold, first person to x sold, first team to goal and first team to a prepaid goal. • Have fun during the blitz with constant updates (we also had updates via twitter) and fun comments from those team captains performing to help spark the competitive nature. • Feed the reps!!!! • When a rep achieved their goal, they were allowed to stop blitzing.
Results • Our book is currently at 32 pages (6x10) with over 75 advertisers currently participating. • 85% participation from sales team but we still have some work to do. • 92% of advertisers are either new or is incremental spends. • Annual revenue generated to date is $80,000 with a goal of $115k
Next steps • Week of 3/5 • Customize sales package (use customizable package) • Each rep compiles prospect list (use prospect list categories and messages sheet) • Have local RadarFrog admins attend admin refresher training, Friday 3/9 at 4 p.m. EST/3 p.m. CST. (call details will be shared in advance) • Select day(s) for blitzing during the week of 3/12 • Week of 3/12 • Set appointments and SELL! • Tweet your progress, using the hashtag #RFBlitz • Report your results – Look for the “RadarFrog Q1 Blitz Tracking” tab here: http://tinyurl.com/2012Niche • Week of 3/26 • Final reporting due by Friday, 3/30 • Week of 4/5 • Reap rewards!
Prizes • $100 spiff for each rep that meets their goal of 60 sales units (units = # merchant packages x # months; 5 12-month packages, 10 6-month packages, 20 3-month packages) • $500 for rep with most units sold* (2 – 1 for papers with circ of 10k+, 1 for papers with circ <10k) • $500 for rep with most revenue sold* (2 – 1 for papers with circ of 10k+, 1 for papers with circ <10k) • $1,000 for paper with most units sold** (2 – 1 for papers with circ of 10k+, 1 for papers with circ <10k) • $1,000 for paper with most revenue sold** (2 – 1 for papers with circ of 10k+, 1 for papers with circ <10k) PLUS • All RadarFrog revenue counts toward your digital goals • Earn up to 15% commission on each package (based on your current plan and goals) • BRAGGING RIGHTS – SMACK TALKING ENCOURAGED VIA TWITTER, #RFBLITZ - mystery prize for engagement *Must surpass goal of 60 sales units **Must surpass goal of 60 sales units per FTE
Questions? Shannon Dunnigan sdunnigan@gatehousemedia.com 401-451-3107