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  "documentTitle": "Starboard Value | Activist Presentation Deck | 96 slides",
  "authorId": "starboard-value",
  "authorName": "Starboard Value",
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  "presentationDate": "2012-05-01 00:00:00",
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  "notes": "Uses testimonials to humanize the data point.",
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      "kind": "chart",
      "text": "Patch Local Advertiser Renewal Rate",
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      "text": "Based on Patch's lack of an attractive measurable ROI and extremely high monthly rate card pricing, 70% of local advertisers do not renew when their contracts expire. There is a finite number of local advertisers. Churning through local advertisers with a poor value proposition makes winning local advertisers back very difficult and further challenges the business model.",
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      "text": "Based on interviews with former Patch employees, approximately 70% of local advertisers who advertise on Patch do not renew when their 6-12 month contracts expire.",
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      "text": "\"... It has been two months and I haven't gotten any results from Patch. If I do not see any return in the next month, I'm going to stop using Patch.\" - Local advertiser on Patch, March 2012",
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      "text": "\"... I have not gotten a single sale from someone who has seen my ad on Patch, so I can't say I'm very happy with the prices I've had to pay to advertise....\" - Local advertiser on Patch, March 2012",
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      "text": "(1) Based on interviews conducted by L.E.K. Consulting.",
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      "text": "The majority of local advertisers do not renew their contracts",
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