| Understanding Performance Payout |
| Marketers and manufacturers use performance payout to increase brand awareness and create affinity with the brand on the part of competitors and fans that watch them compete and improve customer loyalty.
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| Why the old system was broken |
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Performance payout was typically a
time-consuming and manual process prone to errors and delays
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Promoters had to do a lot of non-productive
work to support this part of the marketing mix
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Competitors suffered long wait times to
receive their contingency payout and this created a negative image of the
sponsor and promoter
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Sponsors often received incomplete data on the
demographics of award recipients
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In short, none of the parties were happy with the system |
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| The Performance Payout Process
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Marketers who use Performance Payout typically go through the following steps:
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Define the target market of competitors (age, skills, results, events, etc.) |
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Determine the events where Payouts will be
offered |
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Set the budget for payout and program expense
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Create the promotional campaign (if any) that
will be implemented to support the Payout program.
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Determine the level of Payouts
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| Why
XTRM
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XTRM
makes the entire process easy to set up and administer |
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Define payout policy (XTRM
or marketer-branded Stored Value Visa Debit Card, manufacturer dollars,
discounts off products and services, etc.)
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Assign XTRM
to pay out in specific events
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XTRM
determines whether there are any conflicts with existing marketers at those
events
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Event promoter posts results in the
XTRM
system or transfers them electronically to
XTRM
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Competition events automatically ratified through XTRM
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XTRM
electronically coordinates payout to ratified competitors and provides
detailed reporting to marketers
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Marketers can then create an ongoing relationship with competitors and continue
to build that critical brand affinity |
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Branded stored-value Visa debit
cards
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XTRM
offers two types of stored-value Visa debit cards
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XTRM
Velocity Partners can pay out cash on stored-value Visa debit cards printed
under the manufacturers' brand or use the
XTRM
branded Visa stored value card.
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Cards are issued to the
XTRM
member and can be used at any merchant that accepts Visa.
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Funds can be added to the cards by
manufacturers, family, friends and the competitors themselves
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| How does
XTRM
Live™ improve performance payout? |
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XTRM
Live is our fully integrated trackside solution for managing events, competitors and results. |
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When the overall event is completed or even at
end of individual competition is completed, it is easy to post ratified results
to the system with
XTRM
Live
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Since competitors data was self-entered with XTRM Online Event Registration,
XTRM
issues awards through
XTRM
ClearPay as soon as a competition authenticated
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XTRM
manages all the back-office headaches and lets you focus on generating revenue
and running an outstanding event that both competitors and sponsors want to
return to in the future.
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You save money and time |
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Competitors get their rewards quickly and take
away a positive impression of the event.
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Sponsors get detailed demographic data on the
competitors.
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Event Organizers, promoter and competitors get
a tangible, valuable benefit from using
XTRM
for performance payout. |
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