Special Event Marketing: Card Forum Update
Post on 03-Sep-2014
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Crossing the Crossing the Finish Line:Finish Line:Making the Most of Special Making the Most of Special Event MarketingEvent Marketing
2001 Card Forum2001 Card ForumWalt Disney WorldWalt Disney World
Orlando, FloridaOrlando, Florida
Dan StielDan StielStiel Direct LLC Stiel Direct LLC Stieldirect.comStieldirect.com
Revised © 2010 Stiel Direct LLC. All Rights Reserved.Revised © 2010 Stiel Direct LLC. All Rights Reserved.
Special Event Marketing is like Special Event Marketing is like taking a trip to Walt Disney taking a trip to Walt Disney
World --World --
-- Don’t buy the ticket -- Don’t buy the ticket
if you won’t go on the ride!if you won’t go on the ride!
Stiel Direct LLC · (949) 300-8325
Why Special Events?Why Special Events?
Alternative channel of distributionAlternative channel of distribution
Reach new prospectsReach new prospects
Compliments other effortsCompliments other efforts
Cost-effectiveCost-effective
Stiel Direct LLC · (949) 300-8325
Why Special Events?Why Special Events?
Event Marketing is one of the world's Event Marketing is one of the world's fastest-growing channels of fastest-growing channels of distributiondistribution– According to IEG, corporations will According to IEG, corporations will
spend more than $24.6 billion spend more than $24.6 billion sponsoring sports, arts, entertainment, sponsoring sports, arts, entertainment, causes and events in 2001causes and events in 2001
Differentiates your brandDifferentiates your brand
Reach receptive new audiences Reach receptive new audiences
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Special Event StrategiesSpecial Event Strategies
Issuers use special event card Issuers use special event card solicitations tosolicitations to– Build awareness and brand positionBuild awareness and brand position– Promote brand trialPromote brand trial– Support sponsorship programsSupport sponsorship programs
Reinforce brand position among Reinforce brand position among current cardholderscurrent cardholders– Enhance Activation, Usage, RetentionEnhance Activation, Usage, Retention
Reward customers for carrying cardReward customers for carrying cardStiel Direct LLC · (949) 300-8325
If Building Brand is the GoalIf Building Brand is the Goal
Then the metric is the number Then the metric is the number
of profitable customers of profitable customers
gained and retained.gained and retained.
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FundamentalsFundamentals
Complement to other activitiesComplement to other activities
Enhance the brand experience of Enhance the brand experience of those you touchthose you touch– Carry that experience into usage and Carry that experience into usage and
beyondbeyond
Understand unique challenges in Understand unique challenges in designing, hiring, and administeringdesigning, hiring, and administering– In-house or outsource?In-house or outsource?
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Case Study Case Study
Visa Sponsorship of USPS Cycling Visa Sponsorship of USPS Cycling TeamTeam– According to IEG, Visa’s co-sponsorship According to IEG, Visa’s co-sponsorship
of the USPS Cycling Team helped push of the USPS Cycling Team helped push 2000 usage of the Visa brand in USPS 2000 usage of the Visa brand in USPS outlets up 27% over 1999outlets up 27% over 1999
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Case Study Case Study
Visa’s co-sponsorship of the USPS Visa’s co-sponsorship of the USPS Cycling Team used incentivesCycling Team used incentives– Customers were incented to use their Customers were incented to use their
Visa Cards to purchase stamps and Visa Cards to purchase stamps and other services with a sweepstakes for a other services with a sweepstakes for a trip to the 2001 Tour de Francetrip to the 2001 Tour de France
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EXAMPLES OF CARD EVENT EXAMPLES OF CARD EVENT MARKETINGMARKETING
Case StudiesCase Studies
Stiel Direct LLC · (949) 300-8325
Stiel Direct LLC · (949) 300-8325
Stiel Direct LLC · (949) 300-8325
Stiel Direct LLC · (949) 300-8325
Stiel Direct LLC · (949) 300-8325
Stiel Direct LLC · (949) 300-8325
Stiel Direct LLC · (949) 300-8325
Win on Sunday – Sell on Win on Sunday – Sell on MondayMonday
Actively participate in programsActively participate in programs– Designing and Managing ExhibitsDesigning and Managing Exhibits– Training staff at all levelsTraining staff at all levels– Proactive selling Proactive selling
Auditing and Mystery ShoppingAuditing and Mystery Shopping– Evaluate your efforts regularlyEvaluate your efforts regularly
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Set StandardsSet Standards
Set standards for your supporting Set standards for your supporting vendors vendors – No Crashing – unauthorized events!No Crashing – unauthorized events!– No Stacking – selling competitor card No Stacking – selling competitor card
products at the same time!products at the same time!
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Screen. Train. Monitor.Screen. Train. Monitor.
Set screening, training and education Set screening, training and education standards for your representativesstandards for your representatives
Require on-site managersRequire on-site managers– Be wary of untrained, unsupervised, Be wary of untrained, unsupervised,
poorly screened representativespoorly screened representatives
Who are these people, anyway?Who are these people, anyway?
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Manage Adverse Selection Manage Adverse Selection
To reduce adverse selection in To reduce adverse selection in special event marketing, practice the special event marketing, practice the “Theory of Interception”“Theory of Interception”– Do not wait for prospects to approach Do not wait for prospects to approach
youyou– Proactively intercept prospects Proactively intercept prospects – This will simultaneously reduce adverse This will simultaneously reduce adverse
selection risks while engaging the selection risks while engaging the targeted customertargeted customer
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RewardsRewards
Consumers conditioned to expect gift Consumers conditioned to expect gift for applyingfor applying– Also reduces acquisition costsAlso reduces acquisition costs
Select premiums which offer real Select premiums which offer real perceived value to target marketperceived value to target market– Select premiums that tie back to event Select premiums that tie back to event
and brand positionand brand position
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RewardsRewards
Consider value of rewarding existing Consider value of rewarding existing cardholders with a “thank you” giftcardholders with a “thank you” gift– ““Show us your Card”Show us your Card”
Don’t overspend -- or look “cheap”Don’t overspend -- or look “cheap”
Cheap premiums backfire!Cheap premiums backfire!– Increases adverse selectionIncreases adverse selection
Stiel Direct LLC · (949) 300-8325
Event SelectionEvent Selection
Identify events meeting target Identify events meeting target market criteria and brand market criteria and brand positioningpositioning
Events should be evaluated on a Events should be evaluated on a case-by-case basis case-by-case basis
Bigger is usually betterBigger is usually better
Free admission vs. Paid gate for Free admission vs. Paid gate for attendeesattendees
Stiel Direct LLC · (949) 300-8325
Event SelectionEvent Selection
Identify competitive threatsIdentify competitive threats
Determine optimal participation Determine optimal participation opportunitiesopportunities– Sponsorship benefitsSponsorship benefits– Exhibit locationExhibit location– Space configurationSpace configuration
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Exhibit DesignExhibit Design
Design event exhibits to support Design event exhibits to support brand positionbrand position– SignageSignage– UniformsUniforms– AttractionsAttractions– Premiums Premiums
Consider logisticsConsider logistics– Purchasing, shipping, storage, wear & Purchasing, shipping, storage, wear &
tear, lifetime valuetear, lifetime value
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StaffingStaffing
Assign on-site manager to supervise Assign on-site manager to supervise venue and personnelvenue and personnel
Recruit and educate appropriate Recruit and educate appropriate sales associates for event sales associates for event participationparticipation
Require suppliers to complete and Require suppliers to complete and submit necessary employment and submit necessary employment and insurance documentation for event insurance documentation for event staff staff
Stiel Direct LLC · (949) 300-8325
Event ManagementEvent Management
Implement on-site event Credit Implement on-site event Credit Application processing and security Application processing and security proceduresprocedures
Implement on-site venue Implement on-site venue maintenance schedulemaintenance schedule
Conduct Mystery Shops on an on-Conduct Mystery Shops on an on-going basisgoing basis
Stiel Direct LLC · (949) 300-8325
Business CaseBusiness Case
Develop BudgetsDevelop Budgets– estimate production/printing expensesestimate production/printing expenses– Determine venue feesDetermine venue fees– Shipping, transportation logisticsShipping, transportation logistics– Staffing requirementsStaffing requirements
Project expected resultsProject expected results– applications generated, approval rates, applications generated, approval rates,
activation, usage, retentionactivation, usage, retention
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Event ReportingEvent Reporting
Secure and forward completed Secure and forward completed applications to your Processing applications to your Processing Center dailyCenter daily
Require relevant production and Require relevant production and staffing reports distributed dailystaffing reports distributed daily– Based on internal requirementsBased on internal requirements– Number of complete and incomplete Number of complete and incomplete
applications generatedapplications generated– Exception reportsException reports
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Post-event EvaluationPost-event EvaluationAssign unique source codes to each eventAssign unique source codes to each event– Track metricsTrack metrics
Segment to understand and to direct strategySegment to understand and to direct strategy
Define profitabilityDefine profitability– Acquisition, Activation, Usage, RetentionAcquisition, Activation, Usage, Retention
Random sampling analysis of respondentsRandom sampling analysis of respondents
Portfolio Performance ReportsPortfolio Performance Reports
Measure ROI!Measure ROI!
Stiel Direct LLC · (949) 300-8325
RecommendationsRecommendations
Define Your ObjectivesDefine Your Objectives
Plan EffectivelyPlan Effectively
Provide the Resources to ImplementProvide the Resources to Implement
Hold your Team AccountableHold your Team Accountable
Follow through on Opportunities Follow through on Opportunities GeneratedGenerated
Stiel Direct LLC · (949) 300-8325
Take the Ride!Take the Ride!Dan StielDan Stiel
Stiel Direct LLCStiel Direct LLC(949) 300-8325(949) 300-8325
dstiel@stieldirect.comwww.stieldirect.comwww.stieldirect.com
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