You are hereOpportunity: Hollywood Studio Audience VISA Debit Card
Opportunity: Hollywood Studio Audience VISA Debit Card
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Imagine showing my employee a mouthwatering meal and giving her a coupon to purchase food at your restaurant. At the same time I give her an extra $100 cash to show my appreciation for helping me on her day off. After working all day she is hungry. Where do you think my employee will go for her next meal?
- The Opportunity:
- Every year more than 200,000 people or seat-fillers are paid to be a part of the audience of television shows such as Gladiator.
This audience is now being paid via a VISA Debit card valued between $20 and $120 that must be used for purchases (rather than being withdrawn from an ATM).
- The face of the VISA card and both sides of the packaging sleeve are available for your brand and sales promotion.
- Significance:
INFORMING: PERSUADING: Your sleeve sales incentive and the availability of ready cash on the debit card are strong motivators in their purchase decision.
REMINDING: Each cardholder will keep the card and your branding in their wallets until all the cash is spent.
- DISPOSABLE CASH: The selected audience is typically more motivated to be a part of the studio audience rather than to be paid as seat-fillers so the money on the VISA card is viewed as extra money or a gift.
- Demographics:
- Paid audience members are selected to match the target television audience demographics.
- Age range: 18 - 35
- Female / Male ratio: 50/50
- Median Income: $40,000
- Locale: Southern California (90%)
- Benefits
- IMPRESSIONS: Wallet advertising offers multiple impressions to the same person.
- LOW START UP COSTS: This is similar to a rebate or coupon sales promotion but you use the studios' cash and do not need to worry about implementation.
- EXCLUSIVITY: For a given distribution quantity, you are the only vendor being presented.
- FAST TURN AROUND: This program may be implemented within three (3) weeks.
- ANALYTICS: We provide reports and analytics to track the success of your campaign.
- IMMEDIATE MEASURABLE RESULTS: Your return on investment is immediately accessible from our reporting.
- Formula for A Successful Promotion
- INFORM: We use one side of the card sleeve to build desire for your product or service.
- PERSUADE: We use the other side of the card sleeve to make an offer the cardholder will find hard to refuse.
- REMIND: We brand the VISA debit card with your brand and reminder of the promotion.
- MEASURE: We measure purchases of your product or services versus all other transactions in order to determine a conversion rate. This conversion rate will depend on the strength of your promotional offer and your ability to meet an existing need or create an impulse decision.
- How Do You Participate.
- We work with you to customize your promotion and deliver it to this market.
- You may choose to target this market in increments of 20,000 people.
- Your cost will be less than the cost of issuing your own rebate checks including administrative and setup costs.
- Measuring Return on Investment
- The key metric will be your conversion rate.
- Every cardholder will see your information, incentive and brand.
- So your value proposition will make the greatest impact on the conversion rate.
- If your campaign costs, for example, $1 per card and you have a 33% conversion (one in three people take your offer) your cost is $3 per sale. If you're selling dinners with average purchase of $30, you have only given a 10% discount to gain a new customer or retain a loyal one.
- Scenario: Mobile Phone Company
- You are a mobile phone company in a fiercely competitive industry.
- You already use VISA debit card rebates as part of your promotional mix so you are familiar with the costs.
- This is an expensive program since you must also support the rebate program with extensive mass advertising.
- You realize the Audience VISA Debit Card allows you to deliver your rebate program with individual advertising to a sufficiently large sample of your target demographics such that statistics you've gathered from past rebates should apply.
- You realize that with the Audience VISA Debit Card your costs are significantly reduced because you don't have to provide the rebate amount.
- You realize that with the Audience VISA Debit Card your costs are fixed; you will develop one promotion and roll it out to 20,000 people, analyze the results, modify your campaign and roll out a larger distribution all within a one month time frame.
- You make the decision to use the Audience VISA Debit Card and 5 weeks later you have a report analyzing the success of phase one of the campaign including recommendations for phase two.
- Scenario: Insurance Agency
- You are an independent insurance agency focusing on financial planning advice for businesses and families. You are in a very competitive industry where differentiation is difficult to attain on a small budget.
- You primarily gain new customers by referral but your existing clients "play the field" by working with several advisors.
- You are looking for a way to approach new clients, then give them an incentive to use your services.
- The demographic of the Studio Audience VISA Debit closely matches your desired demographic.
- You create a sales promotion that offers a 10% rebate of the first year's premium on a $100,000 universal life policy which costs under $50 / month for qualified applicants under 35 years old.
- You test your promotion with 20,000 cards at $2 each and only receive a 2% conversion rate meaning each new customer costs $100 plus the $60 rebate for a total of $160 per acquisition.
- Since each new client generates $600 in commission in the first year from your insurance carrier your net profit is $440.
- Your investment is $100 per new client since the rebate amount comes after they qualify for insurance.
- Your return on investment (ROI) is $440 / $100 or 440%.
- You modify your promotion based on the reporting, analysis and recommendations provided and run your campaign the following month with a 3% conversion rate.
- You are a happy camper with 400 new clients in one month and 600 new clients the following month.
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