626Sampler Recap - 626NM 2024 Season

Transcript

1. 626Sampler The 626Sampler is a pass that allows 626 Night Market attendees to eat mini-meals from multiple vendors at one upfront price. Perfect for attendees who want to try more food for less money and for vendors wanting extra visibilitiy. The following locations all had a unique 626Sampler pass, allowing us to test different strategies. San Diego 01 Bay Area 01 OC 01 Arcadia 1/2 OC 03 San Diego 02 Arcadia 3/4 Las Vegas 1/2
2. IMPACT ON New platform through which to share their menu with. Low-effort opportunity. Extra social media marketing that 626NM staff coordinates on their behalf. Added income, up to $2k. VENDORS ATTENDEES Budget-friendly. Diverse selection of food, appealing to adventurous palates. Great for individuals who want to try new items without committing to huge portions. 626 NIGHT MARKET Extra income on top of attendee tickets/vendor rent. One of the only special projects that turns a monetary profit. Allows event staff to practice sales/on-site marketing techniques.
3. Preparation Timeline* Create & send vendor application or send out vendor outreach emails. Source vendor suggestions. Submit marketing requests. WEEK 4 WEEK 3 WEEK 2 *Not a hard timeline since space b/t weekends varied. In reality, the timeline was a lot tighter than this gracious 4 week period. Always be flexible in events! 626Sampler announced through newsletter & social media. Remind vendors of day-of expectations. Prep documents for on-site sales and pre- order pickup. WEEK 1 DAY-OF DUTIES Provide stamps and flags to vendors. Re-explain pass to their staff. Check on vendors & event staff periodically. Keep track of inventory sold. Customer service. Project Coverage. Review submissions and curate vendor selection with supervisor approval. Inform MKTG of vendor choices. Write creative brief for graphic designer. Send acceptance/rejection emails. Inform accepted vendors of expectations, source marketing assets & materials. Create signage. Get approvals on all signage, marketing, pass design, etc. Submit related materials by print deadline. Write event staff instructions for info booth’s reference. Inform vendors of day-of expectations.
4. Vendor Communication Examples Vendor Application for San Diego 02 Sampler
5. Social Media Marketing Branding was new, unsure on presentation. Designs were straightforward/utilitarian. (Graphics and designs were done by our designer, Tarra Quimbao)
6. Social Media Marketing Designs become more coloful; social media posts became consistent in format.
7. Social Media Marketing Designs became more playful, colorful, collectible. Branding feels like QB going on fun adventures.
8. Social Media Marketing Vendor Assets organization. This system was not used with each Sampler location, but having a masterlist of vendor assets next season would be an improvement.
9. Breakeven: 241 units sold* Total units sold: 206 Total revenue: $4120 Each vendor gets $875.50 626 gets $618 costs (no labor): $721.00 costs (w/ labor): $1,333.00** FINANCIALS $20.00, 4 vendors 21.25% split, 15% for 626 PRICING SD-01 April 5-7 First 626Sampler! Marketing was limited to newsletter subcribers & onsite signage/staff, which was unclear or inconsistent. Timeline was roughly 4 weeks. Had the highest upfront costs due to initial signage, but vendor + guest surveys were promising. SPECIAL NOTES *Breakeven units is calculated based on costs (no labor). **Labor costs: 8-12 hours of labor for 2 staff at info booth $136-$204 per day or $408-$612 per weekend For costs (w/ labor) calculations, I added $612. to costs.
10. BA-01 May 17-19 Breakeven: 139 units sold* Units sold: 154 Total revenue $4618.46 Each vendor gets $489.74 626 gets $683.53 Costs (no labor): $837.00 Costs (w/ labor): $1,449** FINANCIALS $29.99, 6 vendors 10.6% split, 14.8% for 626 PRICING Launched publicly on social media for the first time following good reviews. We also expanded the sampler to 6 vendors to test new pricing strategy. Simplified on-site signage to a QR code and call for action, and wrote official event staff instructions for info booth. Pricing not as successful due to higher cost, even if value was the same per item. SPECIAL NOTES
11. OC-01 Jun. 31 - Aug.2 Breakeven: 103 units sold* Units sold: 275 Total revenue: $5,497.25 Each vendor gets $1,099.45 626 gets $1,099.45 Costs (no labor): $410.75 Costs (w/labor): $1,022.75** FINANCIALS $19.99, 4 vendors 20% split all around PRICING Using odd-even/charm pricing, we noticed an uptick in sales. Paired with lower production costs, we broke even for the first time! Social media exposure was extra effective since OC has one of our strongest followings. 626Sampler was only sold first weekend due to the Line Friends collaboration on OC 02, but people asked about it then. SPECIAL NOTES
12. AR-1/2 Jul. 5-7 Jul. 12-14 Breakeven: 88 units sold* Units sold: 600 units sold Total revenue: $11,994 Each vendor gets $2,398.80 626 gets $2,398.80 Costs (no labor): $350.64 Costs (w/ labor): $1,574.64** FINANCIALS $19.99, 4 vendors 20% split all around PRICING Our first time selling out! Arcadia’s audience is our largest and most familiar, meaning they are more likely to try a new 626NM product since they have visited us multiple times before. Increased onsite signage too. SPECIAL NOTES
13. SD-02 Aug. 2-4 Breakeven: 103 units sold* Units sold: 375 units sold Total revenue: $7,496.25 Each vendor gets $1499.25 626 gets $1499.25 Costs (w/ no labor): ~$500* Costs (w/ labor): ~$1,100*** *Did not have official cost in budget sheet overview. FINANCIALS $19.99, 4 vendors 20% split all around PRICING Second time selling out! Especially impressive considering San Diego is a newer venue. The $19.99 pricing with no theme, paired with consistent social media marketing and multiple on- site touchpoints was the recipe for success. SPECIAL NOTES
14. AR-3/4 Aug. 30-Sept. 1 Aug. 23-25 Breakeven: 40 units sold* Units sold: 395 units sold Total revenue: $5,921.05 Each vendor gets $1480.26 626 gets $1480.26 Costs (no labor): $595.00 Costs (w/ labor): $1,207.00** FINANCIALS $14.99, 3 vendors 25% split all around PRICING First time trying out a themed sampler with KPLZ Weekend. Tight turnaround times, larger project loads, and vendor unresponsiveness resulted in only three vendors. We had to reduce price, thinking that people would buy more due to it being cheaper. Unfortunately not the case, though we still broke even. Reasons could be: the theming was restrictive, the pricing was not as much of a “deal” as 19.99 for 4, there was already so much going on during KPLZ, etc. Led by Special Projects Manager. SPECIAL NOTES
15. OC-03 Sept. 6-8 Breakeven: n/a* Units sold: 149 units sold Total revenue: $2,233.51 Each vendor gets $558.38 626 gets $558.38 Costs (w/ no labor): ~$500* Costs (w/ labor): ~$1,100*** *Did not have official cost in budget sheet overview. FINANCIALS $14.99, 3 vendors 25% split all around PRICING Another attempt at a themed sampler, using a broader food item: noodles! Could have been more successful if it had 4 vendors, but the same issues as Arcadia 3/4. resulted in 3. Unfortunate since this was one of my favorite vendor curations with seriously good value. My last sampler I coordinated before NBFF. SPECIAL NOTES
16. LV-1/2 Oct. 11-3 Oct. 4-6 Breakeven: n/a* Units sold: 132 units sold Total revenue: $2638.68 Each vendor gets $527.74 626 gets $527.72 Costs (w/ no labor): ~$500* Costs (w/ labor): ~$1,100*** *Did not have official cost in budget sheet overview. FINANCIALS $19.99, 4 vendors 20% split all around PRICING Reverted back to the tried-and- true $19.99 for 4 vendors. This pass also had one of our strongest designs. Unfortunately, the new venue and overall lower attendance led to even lower 626Sampler sales. Market was scared of trying a new product while already in a new space. Led by Sahrang. SPECIAL NOTES
17. 626Sampler Evaluation Challenges included: vendor misunderstandings/uncommunicativeness, unmotivated event staff, tight deadlines, shallow understanding of market segments. MINUS Have an organizational system compiling all Sampler information into one Google Excel sheet (see next slide), tie in our pre-exisitng sponsors/partners for cross-promotion, create package deals with the sampler and tickets (i.e.: if you have a season pass or buy 2 tickets, you get a discounted sampler). DELTAS PLUS The 626Sampler was my first major project that had a chance to actually make a tangible impact on a company, not just a plan that I wrote for a grade. Seeing it come to life has been one of the most gratifying experiences of my career so far. Receiving support from the people around me from all levels of staff was incredible too. About 4,884 shares About 8,236 likes About 404 comments CUMULATIVE IG SOCIAL MEDIA STATS CUMULATIVE SALES About 2,286 units sold $44,519.2 total revenue, 626 gets $8,865.39. Total profit after fixed costs (no labor): $4,451.
18. MASTERSHEET EXAMPLE