| Understanding Performance Payout |
| Benefits of Performance
Payout |
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| Marketers and manufacturers that use
performance payout want to increase brand
awareness, create affinity with the brand on the
part of competitors and fans that watch them
compete and improve customer loyalty. 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 had to wait for a long time 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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No one was happy
with the system. |
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| Understanding 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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Define the promotional campaign (if any) that
will be implemented to support the Payout program.
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Choose specific events or classes of
competitors
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Determine the level of Payouts
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Set payout policy (XTRM
or marketer-branded Stored Value Visa Debit Card, manufacturer dollars,
discounts off products and services, etc.)
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Submit a request to
XTRM
to pay out in specific events. |
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XTRM Tasks
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Determines if there are any conflicts with existing marketers at those events |
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Automatically ratifies events |
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Electronically coordinates payout to ratified competitors |
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Provides detailed reporting to marketers |
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Marketers can then create an ongoing relationship with competitors and continue to build critical brand affinity |
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| Payout Tools |
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| XTRM offers two types of branded stored-value Visa debit cards |
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XTRM Velocity Partners 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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There is a small fee for custom printed cards |
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Some XTRM Velocity Partners may choose to use XTRM branded cards |
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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 Fastrax help solve your performance
payout headaches? |
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Use XTRM Fastrax to manage online
registration for your events |
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You have access to
all of the information that you required
competitors to submit during event signup. |
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XTRM Fastrax is completely integrated with
XTRM ClearPay |
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| How
does XTRM Live™ improve performance
payout? |
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XTRM Live is our trackside solution for
managing events, competitors and results. |
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When the overall event is completed or even
as each individual competition is completed, it
is easy to post ratified results to the system
with XTRM Live. |
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Since your competitors enter their own
contact and demographic data through XTRM
Fastrax, we are able to immediately issue the
awards through
XTRM
ClearPay as soon as
validated results of a competition are entered. |
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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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| For competitors who earn cash, manufacturer
dollar or merchandise discount performance
payouts, XTRM can pay out those awards
electronically as soon as the ratified results
are entered in the system. |
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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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