logging in or signing up Special Event Marketing: Card Forum Presentation dstiel Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 274 Category: Business & Fin.. License: All Rights Reserved Like it (0) Dislike it (0) Added: September 11, 2010 This Presentation is Public Favorites: 0 Presentation Description Special Event Marketing is like taking a trip to Walt Disney World: Don’t buy the ticket if you won’t go on the ride! This presentation gives marketers ideas on developing effective card marketing programs. Comments Posting comment... Premium member Presentation Transcript Crossing the Finish Line: : Crossing the Finish Line: Making the Most of Special Event Marketing 2001 Card Forum Walt Disney World Orlando, Florida Dan Stiel Stiel Direct LLC Stieldirect.com Revised © 2010 Stiel Direct LLC. All Rights Reserved. Special Event Marketing is like taking a trip to Walt Disney World -- : Special Event Marketing is like taking a trip to Walt Disney World -- -- Don’t buy the ticket if you won’t go on the ride! Stiel Direct LLC · (949) 300-8325 Why Special Events? : Why Special Events? Alternative channel of distribution Reach new prospects Compliments other efforts Cost-effective Stiel Direct LLC · (949) 300-8325 Why Special Events? : Why Special Events? Event Marketing is one of the world's fastest-growing channels of distribution According to IEG, corporations will spend more than $24.6 billion sponsoring sports, arts, entertainment, causes and events in 2001 Differentiates your brand Reach receptive new audiences Stiel Direct LLC · (949) 300-8325 Special Event Strategies : Special Event Strategies Issuers use special event card solicitations to Build awareness and brand position Promote brand trial Support sponsorship programs Reinforce brand position among current cardholders Enhance Activation, Usage, Retention Reward customers for carrying card Stiel Direct LLC · (949) 300-8325 If Building Brand is the Goal : If Building Brand is the Goal Then the metric is the number of profitable customers gained and retained. Stiel Direct LLC · (949) 300-8325 Fundamentals : Fundamentals Complement to other activities Enhance the brand experience of those you touch Carry that experience into usage and beyond Understand unique challenges in designing, hiring, and administering In-house or outsource? Stiel Direct LLC · (949) 300-8325 Case Study : Case Study Visa Sponsorship of USPS Cycling Team According to IEG, Visa’s co-sponsorship of the USPS Cycling Team helped push 2000 usage of the Visa brand in USPS outlets up 27% over 1999 Stiel Direct LLC · (949) 300-8325 Case Study : Case Study Visa’s co-sponsorship of the USPS Cycling Team used incentives Customers were incented to use their Visa Cards to purchase stamps and other services with a sweepstakes for a trip to the 2001 Tour de France Stiel Direct LLC · (949) 300-8325 Examples of Card Event Marketing : Examples of Card Event Marketing Case Studies Stiel Direct LLC · (949) 300-8325 Slide 11: Stiel Direct LLC · (949) 300-8325 Slide 12: Stiel Direct LLC · (949) 300-8325 Slide 13: Stiel Direct LLC · (949) 300-8325 Slide 14: Stiel Direct LLC · (949) 300-8325 Slide 15: Stiel Direct LLC · (949) 300-8325 Slide 16: Stiel Direct LLC · (949) 300-8325 Win on Sunday – Sell on Monday : Win on Sunday – Sell on Monday Actively participate in programs Designing and Managing Exhibits Training staff at all levels Proactive selling Auditing and Mystery Shopping Evaluate your efforts regularly Stiel Direct LLC · (949) 300-8325 Set Standards : Set Standards Set standards for your supporting vendors No Crashing – unauthorized events! No Stacking – selling competitor card products at the same time! Stiel Direct LLC · (949) 300-8325 Screen. Train. Monitor. : Screen. Train. Monitor. Set screening, training and education standards for your representatives Require on-site managers Be wary of untrained, unsupervised, poorly screened representatives Who are these people, anyway? Stiel Direct LLC · (949) 300-8325 Manage Adverse Selection : Manage Adverse Selection To reduce adverse selection in special event marketing, practice the “Theory of Interception” Do not wait for prospects to approach you Proactively intercept prospects This will simultaneously reduce adverse selection risks while engaging the targeted customer Stiel Direct LLC · (949) 300-8325 Rewards : Rewards Consumers conditioned to expect gift for applying Also reduces acquisition costs Select premiums which offer real perceived value to target market Select premiums that tie back to event and brand position Stiel Direct LLC · (949) 300-8325 Rewards : Rewards Consider value of rewarding existing cardholders with a “thank you” gift “Show us your Card” Don’t overspend -- or look “cheap” Cheap premiums backfire! Increases adverse selection Stiel Direct LLC · (949) 300-8325 Event Selection : Event Selection Identify events meeting target market criteria and brand positioning Events should be evaluated on a case-by-case basis Bigger is usually better Free admission vs. Paid gate for attendees Stiel Direct LLC · (949) 300-8325 Event Selection : Event Selection Identify competitive threats Determine optimal participation opportunities Sponsorship benefits Exhibit location Space configuration Stiel Direct LLC · (949) 300-8325 Exhibit Design : Exhibit Design Design event exhibits to support brand position Signage Uniforms Attractions Premiums Consider logistics Purchasing, shipping, storage, wear & tear, lifetime value Stiel Direct LLC · (949) 300-8325 Staffing : Staffing Assign on-site manager to supervise venue and personnel Recruit and educate appropriate sales associates for event participation Require suppliers to complete and submit necessary employment and insurance documentation for event staff Stiel Direct LLC · (949) 300-8325 Event Management : Event Management Implement on-site event Credit Application processing and security procedures Implement on-site venue maintenance schedule Conduct Mystery Shops on an on-going basis Stiel Direct LLC · (949) 300-8325 Business Case : Business Case Develop Budgets estimate production/printing expenses Determine venue fees Shipping, transportation logistics Staffing requirements Project expected results applications generated, approval rates, activation, usage, retention Stiel Direct LLC · (949) 300-8325 Event Reporting : Event Reporting Secure and forward completed applications to your Processing Center daily Require relevant production and staffing reports distributed daily Based on internal requirements Number of complete and incomplete applications generated Exception reports Stiel Direct LLC · (949) 300-8325 Post-event Evaluation : Post-event Evaluation Assign unique source codes to each event Track metrics Segment to understand and to direct strategy Define profitability Acquisition, Activation, Usage, Retention Random sampling analysis of respondents Portfolio Performance Reports Measure ROI! Stiel Direct LLC · (949) 300-8325 Recommendations : Recommendations Define Your Objectives Plan Effectively Provide the Resources to Implement Hold your Team Accountable Follow through on Opportunities Generated Stiel Direct LLC · (949) 300-8325 Take the Ride! : Take the Ride! Dan Stiel Stiel Direct LLC (949) 300-8325 dstiel@stieldirect.com www.stieldirect.com You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
Special Event Marketing: Card Forum Presentation dstiel Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 274 Category: Business & Fin.. License: All Rights Reserved Like it (0) Dislike it (0) Added: September 11, 2010 This Presentation is Public Favorites: 0 Presentation Description Special Event Marketing is like taking a trip to Walt Disney World: Don’t buy the ticket if you won’t go on the ride! This presentation gives marketers ideas on developing effective card marketing programs. Comments Posting comment... Premium member Presentation Transcript Crossing the Finish Line: : Crossing the Finish Line: Making the Most of Special Event Marketing 2001 Card Forum Walt Disney World Orlando, Florida Dan Stiel Stiel Direct LLC Stieldirect.com Revised © 2010 Stiel Direct LLC. All Rights Reserved. Special Event Marketing is like taking a trip to Walt Disney World -- : Special Event Marketing is like taking a trip to Walt Disney World -- -- Don’t buy the ticket if you won’t go on the ride! Stiel Direct LLC · (949) 300-8325 Why Special Events? : Why Special Events? Alternative channel of distribution Reach new prospects Compliments other efforts Cost-effective Stiel Direct LLC · (949) 300-8325 Why Special Events? : Why Special Events? Event Marketing is one of the world's fastest-growing channels of distribution According to IEG, corporations will spend more than $24.6 billion sponsoring sports, arts, entertainment, causes and events in 2001 Differentiates your brand Reach receptive new audiences Stiel Direct LLC · (949) 300-8325 Special Event Strategies : Special Event Strategies Issuers use special event card solicitations to Build awareness and brand position Promote brand trial Support sponsorship programs Reinforce brand position among current cardholders Enhance Activation, Usage, Retention Reward customers for carrying card Stiel Direct LLC · (949) 300-8325 If Building Brand is the Goal : If Building Brand is the Goal Then the metric is the number of profitable customers gained and retained. Stiel Direct LLC · (949) 300-8325 Fundamentals : Fundamentals Complement to other activities Enhance the brand experience of those you touch Carry that experience into usage and beyond Understand unique challenges in designing, hiring, and administering In-house or outsource? Stiel Direct LLC · (949) 300-8325 Case Study : Case Study Visa Sponsorship of USPS Cycling Team According to IEG, Visa’s co-sponsorship of the USPS Cycling Team helped push 2000 usage of the Visa brand in USPS outlets up 27% over 1999 Stiel Direct LLC · (949) 300-8325 Case Study : Case Study Visa’s co-sponsorship of the USPS Cycling Team used incentives Customers were incented to use their Visa Cards to purchase stamps and other services with a sweepstakes for a trip to the 2001 Tour de France Stiel Direct LLC · (949) 300-8325 Examples of Card Event Marketing : Examples of Card Event Marketing Case Studies Stiel Direct LLC · (949) 300-8325 Slide 11: Stiel Direct LLC · (949) 300-8325 Slide 12: Stiel Direct LLC · (949) 300-8325 Slide 13: Stiel Direct LLC · (949) 300-8325 Slide 14: Stiel Direct LLC · (949) 300-8325 Slide 15: Stiel Direct LLC · (949) 300-8325 Slide 16: Stiel Direct LLC · (949) 300-8325 Win on Sunday – Sell on Monday : Win on Sunday – Sell on Monday Actively participate in programs Designing and Managing Exhibits Training staff at all levels Proactive selling Auditing and Mystery Shopping Evaluate your efforts regularly Stiel Direct LLC · (949) 300-8325 Set Standards : Set Standards Set standards for your supporting vendors No Crashing – unauthorized events! No Stacking – selling competitor card products at the same time! Stiel Direct LLC · (949) 300-8325 Screen. Train. Monitor. : Screen. Train. Monitor. Set screening, training and education standards for your representatives Require on-site managers Be wary of untrained, unsupervised, poorly screened representatives Who are these people, anyway? Stiel Direct LLC · (949) 300-8325 Manage Adverse Selection : Manage Adverse Selection To reduce adverse selection in special event marketing, practice the “Theory of Interception” Do not wait for prospects to approach you Proactively intercept prospects This will simultaneously reduce adverse selection risks while engaging the targeted customer Stiel Direct LLC · (949) 300-8325 Rewards : Rewards Consumers conditioned to expect gift for applying Also reduces acquisition costs Select premiums which offer real perceived value to target market Select premiums that tie back to event and brand position Stiel Direct LLC · (949) 300-8325 Rewards : Rewards Consider value of rewarding existing cardholders with a “thank you” gift “Show us your Card” Don’t overspend -- or look “cheap” Cheap premiums backfire! Increases adverse selection Stiel Direct LLC · (949) 300-8325 Event Selection : Event Selection Identify events meeting target market criteria and brand positioning Events should be evaluated on a case-by-case basis Bigger is usually better Free admission vs. Paid gate for attendees Stiel Direct LLC · (949) 300-8325 Event Selection : Event Selection Identify competitive threats Determine optimal participation opportunities Sponsorship benefits Exhibit location Space configuration Stiel Direct LLC · (949) 300-8325 Exhibit Design : Exhibit Design Design event exhibits to support brand position Signage Uniforms Attractions Premiums Consider logistics Purchasing, shipping, storage, wear & tear, lifetime value Stiel Direct LLC · (949) 300-8325 Staffing : Staffing Assign on-site manager to supervise venue and personnel Recruit and educate appropriate sales associates for event participation Require suppliers to complete and submit necessary employment and insurance documentation for event staff Stiel Direct LLC · (949) 300-8325 Event Management : Event Management Implement on-site event Credit Application processing and security procedures Implement on-site venue maintenance schedule Conduct Mystery Shops on an on-going basis Stiel Direct LLC · (949) 300-8325 Business Case : Business Case Develop Budgets estimate production/printing expenses Determine venue fees Shipping, transportation logistics Staffing requirements Project expected results applications generated, approval rates, activation, usage, retention Stiel Direct LLC · (949) 300-8325 Event Reporting : Event Reporting Secure and forward completed applications to your Processing Center daily Require relevant production and staffing reports distributed daily Based on internal requirements Number of complete and incomplete applications generated Exception reports Stiel Direct LLC · (949) 300-8325 Post-event Evaluation : Post-event Evaluation Assign unique source codes to each event Track metrics Segment to understand and to direct strategy Define profitability Acquisition, Activation, Usage, Retention Random sampling analysis of respondents Portfolio Performance Reports Measure ROI! Stiel Direct LLC · (949) 300-8325 Recommendations : Recommendations Define Your Objectives Plan Effectively Provide the Resources to Implement Hold your Team Accountable Follow through on Opportunities Generated Stiel Direct LLC · (949) 300-8325 Take the Ride! : Take the Ride! Dan Stiel Stiel Direct LLC (949) 300-8325 dstiel@stieldirect.com www.stieldirect.com