Tuesday 2nd June marked the first session of WePlay’s Digital Event Series, titled: “Enabling Scaled Revenue Growth Through Performance Marketing”.
WePlay are continually seeking new opportunities for clients to grow sustainable direct-to-consumer revenue, and that’s never been more prevalent than during the current challenging time for many sports organisations. Consequently, WePlay have introduced our series of Digital Events, which will run throughout 2020 and are designed to engage business leaders and professionals alike with the strategic and tactical intelligence required for achieving sustained revenue growth.
In our first session, Chief Executive and Founder, Luca Massaro, opened with a 20-minute keynote in which he spoke in detail about the agency’s transition from a more traditional content business to performance marketing specialists in order to meet the changing demands of the industry and consumer behaviour.
Luca provided granular insight into a step-by-step approach to driving revenue for clients through performance marketing, providing invaluable advice on defining your marketing funnel, audience segmentation, creative, messaging and paid media activation.
His keynote section of the Digital Event concluded by introducing the five enabling pillars of direct-to-consumer performance marketing that are built to help sports organisations achieve specific audience, data and revenue outcomes across:
- SVOD & OTT
- Live and Virtual Events
- Digital Sponsorship
Luca Massaro, CEO & Founder of WePlay, finished the keynote with the following statement: “Performance marketing is the evolution of traditional digital marketing and is based on achieving outcomes rather than outputs albeit, the outputs are incredibly important. The six building blocks of performance marketing can be applied universally to all areas of D2C [direct-to-consumer] marketing, independent of the objective. Efficiencies and gains can be found when treating the pillars as complimentary, rather than individually, and investing in performance marketing can allow organisations to develop sustainable revenue streams.”
Following his presentation, a panel of WePlay specialists joined Luca to engage in a Q&A with our guests from across the sports industry. For what was a detailed and tactical look at specific applications of the theory discussed in Luca’s presentation, the panel was made up of Client Services Director, Kenny Ager; Lead Strategist, Michael Harvey and Senior Campaign Manager, Stephanie Green.
In response to being asked how a business should approach the development of it’s SVOD user acquisition process, Kenny outlined how we can tackle the ever-changing OTT market, stating: “The ones that are winning, are the ones that have a 365-day content library and experience. We’ve spent quite a lot of time with our partners, enhancing the library and the experience, and UX is key to that. We actually see small adjustments to an audience campaign or a creative message making maybe +10-15% changes to ROI, but actually an improved landing page that’s tailored to the customer can actually improve the results produced by 400%.”
Michael also took us through an illustration of how businesses can maximise their understanding of audience data, utilising freely available tools: “Make sure you are fully utilising the capabilities of the tools that you already have access to. Things like Facebook audience insights allows you to understand what kind of similar pages your audience likes for example – great for prospecting, great for starting to piece together any kind of targeting profiles that we’re looking to use. Another example is Google Analytics, which is really important to understand how people are coming into our ecosystem, how they behave and engage when they get there. What’s that drop-off point between pages, specifically in our purchase flow? Are there any barriers we can see and things we need to address?”
Continuing on the topic of audiences, we then heard from Stephanie how businesses can continue to engage with their social followers and CRM database during a time when there is a lack of new content to share with them.
Stephanie stated: “There really has never been a better opportunity to engage your fans. Internet traffic has soared since lockdown was initiated in certain countries, more people than ever are spending time on social media platforms and the new, emerging platforms are growing faster than ever. In terms of the actual content, a strategy that we’ve taken with a few of our clients has really been to take a step back and analyse the assets that we do have to hand, coming up with ideas to re-edit and reinvigorate content that may have previously been seen and actually seed that out again, but in a different way.
To summarise, Luca wrapped-up the session by stating that: “We all have a responsibility as an industry to bring sports back and remain positive. Sport is going to come back with a bang and I believe we will emerge from this crisis stronger. Digital is going to play a key role obviously, specifically looking at what is measurable…When everyone starts to go to market, it’s going to get very noisy. It’s going to get very competitive and it’s going to get expensive. So you’ve got to move quickly and you’ve got to find that innovation that gives you some sort of differentiated value proposition”
With that summary in mind, these are just some example extracts and takeaways covered in the first session of WePlay’s Digital Event series, but if you missed it and for a more detailed introduction to WePlay’s approach to performance marketing, you can still view the content in full by registering here.
Stay tuned for the upcoming announcement of Session 2 of the series, whereby we will continue to explore intricate strategic and tactical opportunities that can be used to drive sustainable direct-to-consumer revenue growth.