Special Event Marketing: Card Forum Update

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


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


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.


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?


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


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


EXAMPLES OF CARD EVENT EXAMPLES OF CARD EVENT MARKETINGMARKETING

Case StudiesCase Studies








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


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!


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?


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


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


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


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


Event SelectionEvent Selection

Identify competitive threatsIdentify competitive threats

Determine optimal participation Determine optimal participation opportunitiesopportunities– Sponsorship benefitsSponsorship benefits– Exhibit locationExhibit location– Space configurationSpace configuration


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


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


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


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


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


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!


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


Take the Ride!Take the Ride!Dan StielDan Stiel

Stiel Direct LLCStiel Direct LLC(949) 300-8325(949) 300-8325

[email protected]

Special Event Marketing: Card Forum Update

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usps cycling

special event

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