By Daniel Williams Published July 8, 2017
An analysis of a LEAP client's contesting data reveals valuable insights into the characteristics of contest participants, and underscores the important role of promotional marketing for driving customer activation, engagement and brand loyalty.
As newsmedia companies have historically struggled with attracting younger, digital-oriented consumers into their realm of paid subscribers, the analysis finds that contests and promotions provide an alternative method of monetizing these audiences, and in the process capture valuable information to better serve their content interests, and build longer-term brand affinity.
The daily publishing company has partnered with Second Street to deploy its engagement platform for contests and promotions, which has been instrumental in growing its email database from less than 15,000 to over 75,000 customer contacts in the past five years. This provides a rich set of first party information including transactions, behaviors and interests that can be leveraged for driving a variety of engagement and monetization efforts.
The company has also partnered with LEAP Media Solutions to consolidate all of its first and third party, online/offline data into an enterprise data management platform, LEAP Dimensions™, where these elements are transformed into strategic assets that support not only audience engagement and monetization efforts, but enable the delivery of relevant, highly-targeted audiences to their advertising customers through a multi-channel approach.
LEAP Dimensions connects disparate data sources – such as subscription data, digital registrations, e-commerce systems, DMPs, contest and event platforms, membership/rewards systems and other appropriate internal sources of data about your customers. Through this seamless integration, we then enhance data with relevant third-party information – such as detailed demographic and lifestyle characteristics – that helps us transform your imperfect snapshot of a “raw contact” into a dynamic, robust portrait of a “targetable consumer.”
By incorporating the Second Street contesting data into the Dimensions platform, we can better understand the characteristics and attributes of those contest participants as it pertains to their entire relationship with the news brand, and then leverage those insights to identify and target other potential consumers based on their shared traits.
Among the findings:
Active subscribers are nearly 2.5x more likely to be contest participants relative to the overall market:
Digital subscribers are over 4x more likely to be contest participants relative to the overall market:
1 out of 3 customers with an email associated to their subscription have participated in contests, suggesting deep brand engagement with opportunity for more growth:
Contest participants tend to be highly affluent:
... and contest participants represent younger audiences than the publisher’s traditional print subscriber base:
In the case of this daily publisher, contests and promotions represent a key cornerstone of its audience growth efforts, and (based on the impressive growth of its email database over this five-year timeframe) provide an effective mechanism for building a deeper knowledge of its existing customers, while also serving as a leads generation tool for new customers - particularly those coveted younger, digital-oriented consumers. Using the insights from LEAP's data analytics, it can create and execute additional promotions and contests to attract new audiences, and build deeper brand loyalty through engagement.
About LEAP Media Solutions
LEAP serves a client community of more than 100 media companies to engineer end-to-end, data-optimized marketing processes that grow, activate, engage and monetize audiences.
At the heart of our methodology is LEAP Dimensions™ – a comprehensive database platform that allows us to integrate and consolidate various sources of internal and external data into a single, authoritative view of your individual customer relationships.
LEAP employs a unique Shared Cost Model that allows us to deploy technology and unmatched expertise to reengineer your business around customer intelligence and best practices in audience management and monetization.
As a result, we deliver clients a contracted, end-to-end process for audience development and monetization that does not depend on adding new resources – just on the experienced talent and proven processes that we deliver on your behalf.
For more information, contact us at email@example.com.