The sold out Promotions Summit is kicked off today, and we’re so excited to have so many fantastic partners joining us and sharing their successes with online promotions.
Since the summit is sold out and we wanted to make sure that you don’t miss a thing, we’ll be adding quick recaps of each session to this journal throughout the day. Keep checking back for the most recent content!
Plus, we’ll be live tweeting the Promotions Summit – follow @secondstreetlab on Twitter to get live updates, and join the conversation at #PromotionsSummit.
Let’s get started.
3:00PM: Stories from the Field
During the first session of the summit, we heard success stories from six media companies.
Jamie Kinnaird from BH Media Group shared how Omaha World-Herald generated $75,000 with a 10-week $1,000 giveaway contest with a local outlet mall. (We’ll be publishing a full case study with all the details shortly, but you can find more information now in the 2013 Second Street Awards deck. Look at slide 20 – the Nebraska Crossing Outlets giveaway was a winner!)
Brenda Fedak from The Belleville News-Democrat told the story of how a restaurant deal for a local Mexican restaurant drove $11,000 in revenue. (We’ll be publishing a full case study with all the details shortly.)
Brandy Carter from Entercom New Orleans shared how the radio cluster generated $13,000 with a Facebook Advertiser Contest for a local bank – and how the bank drove nearly $100,000 in revenue as a direct result of the contest! See how it all came together in this case study.
Elizabeth Perry from Cox Media Group went through the details of WSB-FM’s Dream Wedding contest. The station made $30,000, and the advertiser, a local resort, booked 10 weddings as a result of the contest. Get all the details in this case study.
Tara Whitfield from WRAL-TV told the story of how the station’s Grocery Giveaway sponsored sweepstakes collected more than 62,000 email opt-ins and 78,000 Facebook Likes. (We’ll be publishing a full case study with all the details shortly.)
J. Tom Shaw from Shaw Media shared how the group’s repeat recreation deals with Key Lime Cove have brought in more than $500,000 in revenue. (We’ll be publishing a full case study with all the details shortly, but you can find more information now in the 2012 Second Street Awards deck. Look at slide 46 – the Key Lime Cove deal was a winner!)
2:00 PM: The Big Shift: Online Promotions
The Promotions Summit began with a keynote address from Gordon Borrell, the CEO of Borrell Associates. Gordon spoke about the industry-wide shift from advertising toward online promotions. In 2007, local advertisers spent more of their marketing spend on promotions than on advertising for the first time. Now, these same advertisers are spending 45% more on promotions than they did in 2005. Furthermore, people are spending increasingly more time on digital media and less on traditional media.
As a media company, you are a local media expert that can provide guidance and measurable results to advertisers with integrated campaigns. Here are a few recommendations to make sure you are making the most of the shift toward online promotions:
Don’t underestimate your potential.
Ask for more resources.
Develop appropriate measurements.
Be an internal change agent.
There’s a lot of money out there! Go capture it.
The post Promotions Summit Journal: Day 1 appeared first on Second Street Lab.