10 reasons why Prize Promotions offer brands a winning formula
Posted: August 2016
1. Speedy turnaround: Prize promotions help make your business nimble enough to keep up with competitors and customers. On quick turnaround briefs, a simple microsite can be created in days, with your new message broadcast across social media in minutes.
2. Increased sales at low investment: Well-targeted prize promotions increase sales, and are often the most cost effective option alongside almost all other advertising spend.
3. Technology extends your message: On-pack promotions have been successful for many businesses, but with limited shelf space, overall impact can be tricky to achieve. Using additional media channels to support your campaign not only shouts your message louder, but also entertains your customers beyond the on-pack experience, using games, apps, music downloads or videos.
4. Protected margins: Unlike traditional offers such as BOGOFs, you don’t have to cut your prices or profit margins to run a successful offer. It’s a win-win method because retailers love the increased exposure and sales uplift and neither of you has to compromise on price.
5. Build up your database: Online prize promotions feed customer information directly into your database. As they’ve visited your website or social media to enter their details, they have also qualified themselves.
6. Measurable success: Getting hard data today is critically important to understanding your customers and how well your promotion is working. Promotions also offer further opportunities to collect ‘soft’ data, such as customer attitudes or generated content.
7. Viral effect: Promotions with a talking point give your customers a positive brand experience. Well-targeted content shows both insight and generosity, often spilling over into social media awareness or debate.
8. Test & Learn: Use a range of promotional response vehicles to collect valuable feedback for future customer engagement. Ask for information, in exchange for the chance to win a prize, and build your database for further targeted activity.
9. Multi-channel entry: Every customer is different. By using a multi-channel mechanic, including offline, online or mobile, your prize promotion will get a much broader result.
10. Stand out from the crowd: Brands and businesses come and go. Look different, stay the course, grow with your customers and dip your toe into the promotional sea to help deliver outstanding results.
Need the NDL winning formula for your next marketing campaign? Call us for a quick chat on 020 7428 1214 or email us on email@example.com.