Deals for the Holidays
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The winter holidays are by far the biggest spending season, and each year retailers and ecommerce sites - like your deals program - generate TONS of revenue in November and December. For 3 years running (2010-2012), Cyber Monday has been the top spending day of the year. But the spending is hardly limited to just that one day. In fact, there was a 36% increase in online spending on Christmas day from 2011 to 2012.
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Deals for the Holidays
- 2. #DealsLab HOW TO INTERACT WITH US GoToWebinar™ Questions Panel Twitter Hashtag: #DealsLab Note: We are recording this webinar and you will receive an email with links to the recording and the slide deck.
- 3. #DealsLab WHO WE ARE Increase ROI, Build & Engage Audience
- 4. #DealsLab
- 5. #DealsLab SPEAKERS Nathan McCray Sales Manager - BuyTexasDeals.com Killeen Daily Herald Matt Chaney Director of Affiliate Success - Deadline Deals @mattchaney
- 6. #DealsLab WHY HOLIDAYS ARE SO IMPORTANT
- 7. #DealsLab HOLIDAY SPENDING Cyber Monday Top online spending day 36% Increase in online spending on 12/25 6 of 10 Top spending days were Mon. or Tues. 13% Revenue from mobile devices
- 8. #DealsLab CYBER WEEK CHAIN-WIDE RESULTS Gatehouse Media Revenue Up 25% YOY Over $90K in Total Revenue
- 9. #DealsLab STORES OVERALL REVENUE IMPACT $- $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 Average Week Cyber Week 2011 Cyber Week 2012 Chain-wide Cyber Week Stores
- 10. #DealsLab TOP DEALS STORE 2012 Quad-City Times Davenport, Iowa Cyber Week Store $154,835 Gross 77 Deals 8,086 Sold Great Promotional Package!
- 11. #DealsLab HOW TO CAPTURE THE OPPORTUNITY
- 12. #DealsLab PROMOTION + SHOPPING EVENT
- 13. #DealsLab CREATE A SHOPPING EVENT Store Site Theme
- 14. #DealsLab PROMOTIONS Grow Your Database Contest Engage Inactive Buyers Promo Code
- 15. #DealsLab DEAL STORES & SITE THEMES
- 16. #DealsLab
- 17. #DealsLab TOP STORES OF 2012 1. Holiday/Stocking Stuffer 2. Cyber Week 3. Golf 4. Destinations/Travel 5. Father’s Day 6. Mother’s Day 7. Home Improvement 8. Kids/Family 9. Summer Adventures/Recreation 10. Best Of
- 18. #DealsLab
- 19. #DealsLab STORE REVENUE 2012 Golf Father's Day Mother's Day Cyber Week + Holiday
- 20. #DealsLab KILLEEN CYBER STORE RESULTS Beauty 33% Recreation 13% Restaurant 13% Services 36% Retail 5% Cyber Store: Deal Mix $40 Average Price Point for Store Deals 64% of total monthly revenue from Cyber Store
- 21. #DealsLab HOLIDAY SITE THEME $16K+ Revenue from holiday deals 47% Jump in average per deal revenue during holidays
- 22. #DealsLab SALES TARGETS Restaurants Entertainment & winter festivals Health & Beauty Lodging/Hotels Photography services Holiday cookies, candy, Edible Arrangements, Honey Baked Ham
- 24. #DealsLab CYBER WEEK SALES DECK
- 26. #DealsLab STORE & THEME PROMOTIONS
- 28. #DealsLab CONTEST & DEAL STORE PROMOTION Cutest Couples Contest Valentine’s Day Store
- 29. #DealsLab KILLEEN DAILY HERALD, CONTEST RESULTS
- 30. #DealsLab KILLEEN DAILY HERALD, STORE RESULTS 5x Increase in daily opt-ins vs. average $12K Store-only revenue beat entire month of Feb. 2012 Deal Store Deal Store
- 31. #DealsLab DEAL “CONTEST” Arkansas Democrat Gazette –––––––––––––––– Over 3,000 Sign-ups – 1st week 2x Average Daily Opt-in Rate
- 32. #DealsLab PROMO CODE – INACTIVE BUYERS 970 Individual deposits $25K Purchased by depositors
- 33. #DealsLab LEVERAGE PROMOTIONAL ASSETS Rich Media Display Ads
- 34. #DealsLab CYBER WEEK PRINT PROMOTION Double-Truck Print Ad
- 36. #DealsLab HOLIDAY PROMOTIONS Pencil Ad Online Full Page Ad
- 41. #DealsLab WHAT ARE DEAL CARDS? New Deal Product Multi-Merchant or Single-Merchant High Price Point + Great Value Coming soon!
- 42. #DealsLab DEAL CARDS – SALES TARGETS
- 43. #DealsLab HOLIDAY STORE KIT Quick Start Guide Sales Tools Prepared presentation deck One-sheeter sales piece Promotional Tools Deal site banners Email headers Ads (editable)
- 45. #DealsLab HOLIDAY GAME PLAN Cyber Week Holiday Theme When to Sell How to Promote When to Run Kick-off Late Sept. & Sell Oct. – Nov. Use All Assets + Promo Code + Contest 12/2 – 12/8 12/9 – 12/25
- 46. #DealsLab TAKEAWAYS FOR DEAL STORES 1. Start early and plan ahead 2. Focus on deals that…help you prep for holidays, enjoy them or make a good gift 3. Bundle in bonus promotion in your media to secure bigger merchants 4. Run a contest and send a promo code ahead of your store 5. Use “stores” & “themes” to diversify your deal lineup – now and throughout the year
- 47. #DealsLab QUESTIONS? Nathan McCray Sales Manager - BuyTexasDeals.com Killeen Daily Herald Matt Chaney Director of Affiliate Success - Deadline Deals @mattchaney
Editor's Notes
- ChaneyComment & questions on TwitterQuestions RecordingSurvey at the end – your feedback is welcomed
- Chaney
- ChaneyWe – as operators of local ecommerce sites – are like just like retailers and should be gearing for Q4 and in particular the holidays. The opportunity is truly the biggest of the year, so let’s look at why…
- ChaneyOverall spending up 14% with most of that growth coming from online sales3rd year in a row for Cyber Monday to be the top day - $1.4 billion – up 17% from last yearPhysical store revenue was up as well but only a few % pointsLots of last-minute shoppersDeals – instant gratification and availability – even on Christmas Day!Growth for retail was in the single digitals, so local merchants need a place to sell online – your deals program!Focus best deals towards the beginning of the week when folks are shopping most12 days during the holiday period generated over $1 billion dollars – up from 10 in 2012I know I personally helping drive this number up every year!
- Shannon
- Cyber WeekAvg. $22K2011 - $78,0002012 - $90,000Best Of StoreAvg. $1,200Best of Store Week: $11,000GatehouseHolland – example on the right (16K circulation)2013 version starts on 1/28
- Matt$39K in promotional value – well worth the investmentThis is almost double what they did last year! They’re laser focused on deal quality, planning and doing strategic stores that make sense
- Chaney
- Your opportunities fall into two bucketsPromotions/Marketing – expanding your reach, growing your database, engaging inactive buyersShopping – creating shopping events, showcasing great local deals, turning your site into a shopping destinationLet’s start with promotions and break that down
- Create a shopping destinationStoreLayered in on top of your regular scheduleDesignated group; all together under a single headerRuns for 10-14 daysBoost your deal volumeEngage businesses of all sizes Store gives you some additional flexibility to work with businesses who make sense but can’t handled a featured dealShould be reserved for select events with lots of deal potential - Cyber Week and Holidays are the biggest stores of the year and have lots of opportunityTheme WeekNo increase in deal volume - take existing schedule and curate it around central themeMonday – Sunday; last chance email on Sunday; Friday – saved for the best deal (one you know will sell quickly)More flexible themes - Restaurants, Neighborhood Deals, BBQ Month, St. Patty’s Week; don’t have to fill a storeCan be more frequent than a store; easy to tie-in with a special section or sales initiative – generally only a weekGood for sites not used to a high volume of dealsIncluded deals must be top-notch, high quality offers from great local businesses – no room for fluffLimited availability – great selling point, helps focus your reps on deal qualityBoth are an opportunity to promote your site in a new and different way to your audience, make the deals timely
- PromotionsDeal ContestBorrowing a page from my contesting colleague, JulieRun a sweepstake site ahead of your storeForces a user to register with your site – opportunity to get their email and create an account, which makes future purchases easierPromo CodeA short code sent to a subset of your audience who hasn’t purchased with youOn average, only about 30% of your audience is actively buying from your siteYou can affect that by marketing a specific message to that audience
- Chaney
- Deal Quality is job #1Single most important thing you can focus on – only running those deals you know to be of value to your audience and from merchants that they want to do business with
- MattHalf tied to a holiday or specific seasonHalf evergreenLots of good ideas. All of these are solid choices.#10 is going to be a lot higher on this chart in 2013. Seeing lots of sites experiment with this. Look for an upcoming article on two great examples on the SS Lab.
- NathanKilleen Daily HeraldCirculation: 23KEmail Database: 17KDMA: 88Launched Deals – December 2010BuyTexasDeals.com
- NathanImpact of Stores on your programWhy you and your team like themFocuses team on merchants that fit the themeWhy merchants like themAligns with their own seasonal promotionsSpecial Section as guidanceTakes planning – can’t happen overnightEspecially with large sales staff
- NathanDon’t be afraid to push into higher pricepoints especially with gifting in mindCyber Week – $16K store only (November $25K)3x avg. weekly revenue (Cyber Week - $16K vs. Typical Week - $5K)Why so many beauty deals?Beauty covers a lot of categoriesHair, Massage, ManicuresWe like to do combo deal that complement each other – ex. full spa experienceUnique marketMilitary marketAudience lifestyle
- NathanHoliday-themed deals ran from 12/3 – 12/25 – “Last Minute Gifts” themeReps were already pitching holiday print packagesNathan made sure they had info for holiday/storeIf they bought a print ad, include a dealOr if you don’t want to spend dollars on advertisers, then deals make senseRevenue per deal during time of the store increased 47% vs. 2012 average ($1097 vs $748)Review last year’s sales from print section, look to see who is inactive now or who bought last yearNathan pulls newspaper from last year (two months in advance of the month)Looking at what advertisers were promoting at the time and see what makes a great adTarget – anything that would make a good gift – “Would you give this as a gift?”Retail is a tricky category – focus on something better tied to the store
- MattSelling Timeframe: Late September to Late NovemberSchedule: Launch on Cyber MondayUltimately, all of these fall into three larger bucketsPreparing for the holidaysEnjoying the holidaysGiftsNathan, tell us how you and your team launched your Cyber Week Store and holiday sales
- NathanSomething we provide for every storeWhy is this helpful for the reps?How did you introduce this to them and kick-off sales?IncludesIndustry dataSales targetsPromotional package – this is hugely important; its your reps top selling pointImportant deadlines and dates – talk about when you kicked it off and howSite stats and relevant data points for salesInternal resources accessible on-demand
- NathanDo all stores get a sales deck?We’re all about getting results for our advertisersOur decks are all web-based to make it easy for our reps to present and to show the advertiser the benefits of our programWhy do the reps like it?Why do the merchants like it?Key selling pointsReinforce merchant ROI – especially getting new people in the doorNot to mention paying THEM to advertise and promote their businessThis slide also showcases our deal mix and actual results for a variety of categories
- NathanIs this the main thing a rep uses to pitch deals and stores?Do all stores get a one-sheet?IncludesKey selling pointBrief overview of process – including promotional packageImportant datesThis year we’re going to start selling Cyber Week even earlier!
- Chaney----- Meeting Notes (8/26/13 18:08) -----Let's look at some ways you can set your promotions on fire and get your store off to a great start
- MattBase plans on Special Sections calendarHistoricalTwo month ruleProvide store-specific pitch decks to help reps
- MattThis is really an ideal scenario – using a UGC contest to engage and grow the same target audience as your store. Talk about synergy!This was a powerful promotion that brought together contests and deals
- NathanContest detailsImpact contest had on your siteHow you cross-promoted deal store and tied it in with contestDaily opt-ins 34 during contests vs. 7 daily in 2012 as a whole – nearly 5x higherContest traffic 2nd highest to homepagePrizes – Hotel stay + Deal Credits1st: Romance Package & $100 credit2nd: $75 credit100 entrants6,000 votes castKDHcutestcouple.comCross promotion
- NathanStore impact – to your deals programHow do you plan them?Why tying these two together made sense $15K for Mother’s Day5x increase in daily database growth averageDaily 34 during contests vs. 7 daily in 2012 as a whole338 new Cross-promoted store on contest pageStore revenue alone surpassed previous FebruaryTotal Gross: over $12K
- MattHere’s another contest idea that you can run right on your deals’ site!This is like a sweepstakes and all about growing your database – my recommendation would be a giftcard giveaway to a local mall or just a Visa cardI would suggest you run this in November to build your database ahead of your Cyber Week launchArkansas Democrat GazetteContest lives on actual deal site and uses registration mechanism to enter usersAccount setup required to enter contest – key reason to runGets them familiar with the check-out processPromotionsEmailNewspaperSocialOn-site – created a new deal category, ContestsGiveawayWeekly winners drawn – each winner displayed on site (creates return visits and opp. to showcase more deals to them)10 week promotion$100 Mastercard gift cardFirst WeekOver 3,000 entriesDouble average daily opt-in rate during the time the contest ran
- MattPromo CodeCan be unique or a shared code – like “holidays13”30% of audience are active buyersCincySavers.comRadio cluster in Cincinnati, OHDeposits – 970Sent to: 24K subscribersIncreased active buyers % by a couple of pointsBut most importantly$9,700 investment results in over $25K in purchases, netting them $16K in incremental revenueNearly 1,500 purchases made – averaging 1.5 purchases per person
- NathanUsed all available assets – print, digital display, email, social – to promote the Cyber Week Store and Holiday ThemeThe promotional package is a key selling pointHow was the Cyber Week promotional package unique or different from your standard package?The following slides show other ads we produced for the store
- NathanHow did this ad help you close deals?
- Nathan
- NathanHow important were the promotions to your merchants?
- MattMiddleBrowser Content Areas are great places to promote your deal or cyber week store
- Matt
- Chaney
- ChaneySeen million of dollars in gifts purchased since launching this feature last yearWill allow you to buy extra deals and specify them as giftsRecipient won’t have to be signed in to receiveAnd now you will soon be able to change the names on the gift card – maybe in case that massage deal you got for your girlfriend needs to go to someone new
- -multi offer ‘punchcards’ for multiple merchants-great high price point allows you to group similar businesses together to give customers a great value $99-$150 on average per card, straight trade-encourage repeat business and also gives customers opportunity to try new businesses-Multi Merchant cards are great for golf or ski deals-Single Merchant cards are ideal for spas – include several treatments for one great, upscale spa – this will encourage repeat business and grow loyalty-Choose between printed/mailed redemption OR digital/mobile redemption for each campaign you run
- -Deal Quality is the #1 consideration when it comes to Deal Cards – so only target the best of the best for this program as well.-For multi merchant cards – focus on 8-12 different participants/merchants all offering the same offer – round of golf/ski lift-For single merchant cards – focus on really upscale/high end spas – build a card that offers a variety of services from one spa for one higher price point (still discounted 50-60%)-Often one seller on the team will focus on selling this program as they are usually all new prospectsSTEPS TO SELLING A DEAL CARD1. Plan. Determine which kind of card – single- or multi-merchant and the deal category. For our example, let’s consider a multi-merchant golf card.2. Prospect. Deal quality is still #1, so you still want to be targeting the best golf courses with the most mass appeal. Come up with a list with a good mix of locations.3. Package. Come up with sales package that offers significant value to your merchants, including unique placement opportunities and traditional media exposure.4. Pitch. When you approach your prospects, present your sales package and keep your offer simple. You know in advance how many cards you will be creating, so you can ask your merchant for a specific number of deals. In the golf card example above, you can ask for 500 single rounds of golf rather than an unlimited number. You also want to be sure to remind the merchant of the upsell opportunity when people come in to redeem their card.TITLE SPONSORSHIPSWith multi-merchant cards, you also have the option to sell a title sponsorship – an overall sponsor that will have exposure on all elements of the campaign for a cash investment
- ChaneyBring in NathanRecording this weekSales materialsLayers – PSD file and fontsKeep an eye out for updates on these
- Chaney
- Take advantage of SS-provided toolsLogos and collateral available; ads – print and online; how to guide to holiday dealsGet in the holiday spirit & refresh your site & email with holiday flair----- Meeting Notes (8/27/13 08:56) -----97 days until Cyber Monday