Taking Promotional Risk to Engage Consumers While Marketing in a Recession

Promotional Risk… Is it worth it? Over the past decade, there has been tremendous growth in consumer and business product releases, bringing challenges to consumer and B2B marketers to differentiate brands. The ever changing media market increases the complexities, for both offline and online marketing professionals. The combined formula, with the recent recession and ongoing downturn of this economy, leaves marketers with an environment that is unique to any year in history, with a challenge that only the riskiest of marketers will survive. Are you willing to bet your marketing, advertising, public relations or promotions career on your willingness to take a risk? If you do not include this risk in your promotional strategy, while your competitor does, what will happen? Will your marketing competitor win market share that you have lost or will the safe road you have taken pay off?   It is my experience that you must take the promotional risk. You are about to learn why you should include promotional risk coverage in marketing strategy to engage the consumer and secure a larger market share, during this recession. Follow these simple steps in marketing promotions strategy and build big brands that will stand the test of time.

There is no argument that consumers are responding to large cash and prize giveaways. Your marketing research can stop with the review of network programming you find in recent shows like Deal or No Deal, Price Is Right, Who Wants to Be A Millionaire, and the many other network promotions which include large prize and cash offerings to both gain consumer loyalty and increase ratings. Radio and television stations, newsprint and magazine publications, online and offline companies alike are all tapping into the simplest of strategy to increase viewers, visitors and readership, while gaining promotional affiliations and sponsorships. The strategy is simple. They are taking promotional risk.

This promotional strategy doesn’t require the risk to your company or your job, which you might initially assume. You give away cash or large prizes. Everyone likes to win and most people like to see others win. As long as you protect yourself and company with promotional risk coverage, you will also be the winner. Your prize offerings are based on the odds of a winner claiming the prize. As long as your promotional strategy does not include a guaranteed prize offering as the only prize, your company can include promotional risk coverage with the promotion. Promotional risk coverage can be found in promotions like you see on television, hear on the radio, read in newspapers, magazines, see online or in internet marketing promotions. They offer the consumer a chance to win, and when there is a winner, your company is protected against having to pay the winner. Much like you insure your car from an accident or your home from a natural disaster, you can cover your promotion against a risk associated with the liabilities of giving away large valued prize amounts. The cost of promotional risk is minimal, literally a fraction of the prize value, and is based on the promotional odds, the prize value, and the number of chances given to win the promotion.   

The strategy behind marketing promotions, which include promotional risk coverage, is simple and enables companies to differentiate brands in a very competitive market. Promotional risk covered promotions open up possibilities to offer larger prizes than most companies can afford, or would want to take promotional risk on. These large prizes are proven to increase registrations of online users, traffic in stores, and sales at any given time, leads generated both offline and online promotions, and build large brands through consumer loyalty. The strategy is to include a prize offering, which can be based on a game of skill, game of chance, or the redemption of an offer.

With Games of Skill, you could include promotional risk coverage in offering someone a chance to win up to $1,000,000 in a sports promotion. You have probably seen such games of skill in basketball promotions of a random fan shooting a basketball from half court. A football promotion might include a punt or throwing contest, or a hole in one coverage for golf promotions and tournaments.

Games of Chance are found in online marketing promotions and Internet marketing, with sweepstakes, online contests and games. You might see them in offline promotions for trade shows and events where B2B marketers or consumer marketers are holding drawings to increase traffic to events, increase customer response and generate leads. 

Promotional risk coverage can be included in marketing promotions to protect companies against over redemption of coupon offerings and fix promotional marketing budgets for both consumer and B2B marketing strategies. Conditional offerings, such as conditional weather rebates, can add to marketing promotions to engage consumer involvement in the promotion and increase promotional coverage and public relations of the marketing effort. 

Over redemption coverage allows promotional risk coverage to prevent the variable costs associated to budgeting of a marketing promotion when there is uncertainty about your program’s response rate or outcome. Promotional risk companies cover the cost of excess redemptions or responses, whatever the value of the prize, rebate, coupon, or premium. This allows you to plan promotional expenses to the penny, eliminate budget overruns for higher than expected response, and stretch promotional dollars for a maximum market impact.

The bottom line is magnified during the current economic climate, within every department of every business, small or large. To drive business in a recession, or any economic downturn, marketers must find new ways to gain and maintain market share. Those who realize that the success and longevity of their brand is in the hands of the American consumer will stand far ahead of the competitor. In order to engage the consumer and gain brand loyalty, the savvy marketer provides that consumer with benefits which will entice reaction. Consumers react to what they perceive is in their best interest. Find that formula in promotional risk coverage and you will benefit.    

Promotional Strategies – Using Brochures For a Day Spa

Promote your day spa business and persuade people to come and try the services you offer. Brochures are good print materials you can use for promotion. It is a versatile channel in creating a buzz because it can function in several ways promoting your day spa to customers. Promotional strategies can boost sales and generate more customer visits for your business. Listed below are the benefits and functions you can develop in using brochures on your day spa promotion.

Functions of Brochure in Day Spa Promotion

o Advertising. The persuasive presentation of the products and services you offer on your brochures attracts potential local market for your spa. Advertising using brochures gives you the chance of exposing your spa to the people in your community. Distribute your brochures to the specific market you have planned to be your desired consumers.

o Sales promotion. Using brochures in sale promotion can stimulate sales. This marketing activity extra value to your sales force and to your ultimate consumer thus increasing the number of sales for your day spa. You can use your brochures to communicate to the public the trial services that you offer. Make it exclusive by only accepting those who have received your brochures to make the process more professional. Put instructions on your brochures that they need to present the print material to avail your free service limited offer.

o Public relations. Establish and sustain the positive image of your day spa using brochures as your PR tool. Giving a positive feeling on your customers will add to your credibility and trustworthiness therefore, they there is a better tendency that they will patronize your spa other than your competitors. On your brochures, you can tips on how they can take good care of their health and body. It will reflect the services that they can avail from your business.

o Direct marketing. Deal with your customers directly using brochures to generate an instant response or transaction from them. This is cost efficient since your spa communicates directly to your customers other than using expensive channels for communication like TV, radio or billboards. You can use your brochures as membership form that your consumers can fill-up and return to your day spa.

Promotion Strategies: How Small Flash Drives Offer Big Marketing Opportunities

USB flash drives – also often referred to as thumb drives or jump drives – act as reusable portable hard drives. These small units – about the size of a pack of gum – can easily be carried in a pocket, worn around the neck like a necklace or used as a key chain by your clients and prospects. There are even USB flash pens – with the flash drive “hidden” inside the writing utensil.

USB flash drives plug directly into your Universal Serial Bus (USB) port of a computer and are typically built to hold between 64 megabytes and 2 gigabytes of data. The popularity of flash drives have grown significantly over the past several years as storage capacities have increased and USB-enabled computers have become ubiquitous. The popularity and capabilities of flash drives has led to the advent of flash drive marketing.

The use of USB flash drives as effective marketing tools is continuing to evolve for forward thinking marketing professionals.

Custom Flash Drive Marketing Delivers Branded Product To Customers

Thumb drives can be stamped with a company’s logo and as a result, custom logo USB drives have become trade show and convention favorites.

Companies are giving branded custom logo flash drives to key customers and prospects providing them with an instant reminder of your company every time they use the flash drive to transfer files or back up a document. Providing your customers (and potential customers) with a branded custom logo USB flash delivers a great way to market by keeping your brand in front of customers while giving them something of real value they will use over and over.

Flash Drive Marketing Delivers Branded Product With Targeted Messages

Using flash drives as branded giveaways and corporate gifts are just the tip of the marketing iceberg. Savvy marketers are increasingly using the storage capabilities of these compact devices to deliver their message. Flash drives can now be pre-loaded with data, music, video or other content. The devices can also be setup to auto-run a marketing message or load a specific website when inserted into a computer. Customers are able to continue to use the flash drive, storing their data alongside the pre-loaded content. A custom logo USB flash drive that also holds a pre-loaded message or presentation offers companies the benefit of delivering a branded product AND targeted message at the same time.

The concept of delivering your marketing messages via thumb drive was started several years ago when automobile manufacturers provided flash drives pre-loaded with presentations touting the features of their latest models. The idea has caught on – and not just for big companies. Looking for creative and cutting edge ways to stand out from the competition, large, medium, and small sized firms, companies and organizations across a wide range of industries are now looking to flash drive marketing to communicate their messages.

Ways That Organizations Can Utilize Flash Drive Marketing:

o Schools can provide handbooks and required course materials to incoming students via thumb drives featuring school colors and mascot. Students can continue to use the thumb drive for data storage and transfer throughout the school year

o Design and creative agencies can provide multi-media portfolios with links to additional web-based content

o Bands can promote and deliver new music via flash drive. In addition, bands can use USB mp3 players to allow users to listen to music directly from the device

As the popularity and capabilities of USB flash drives continue to grow, marketing professionals will continue to find unique and innovative ways to utilize flash drive marketing. The marketing possibilities may only be limited by the imagination.