Sales Promotion Incentives are a great way to drive additional revenue, improve customer engagement and create a point of difference from your competitors.
So what types of rewards or prizes drive the most engagement with customers?
Keep reading to find out the most popular rewards used in Sales Promotions.
Win a brand new car!
We cannot help but feel a little jealous when watching people winning cars on Winning Streak or the Late Late Show.
Any brand that can run a promotion giving away a car will always grab the attention of their existing customer and of new customers.
Car giveaways can be expensive, however, there are some ways to reduce the cost.
- · Leverage the media exposure to include some co- branding opportunities for the car brand. They may be open to reducing the cost of the car
- · If you are confident that the promotion will be repeated every year for the next two or 3, negotiate a price based on volume – even if it is only for two cars
- · Give away a car for one year – okay you are giving away a free car, but it is still a great prize!
Car giveaways continue to be one of the popular rewards for sales promotions
Win a Holiday or weekend away!
When people see the words ‘win a holiday’ or ‘2 nights stay in a hotel’ all that’s on their minds is how to enter ASAP.
We are often asked if holiday giveaways or weekends away are attractive enough as a prize or competition.
Brandfire has run lots of competition and promotions offering free holidays or weekend away and they consistently achieve the highest redemptions or entries.
€50 off your next holiday is another great reward that has proved very popular with many customers.
Brandfire ran the very successful www.texacoroadstoadventure.ie for Texaco. This involved giving away eight holidays to the Amalfi Coast. This was a great promotion, which achieved huge number of entries.
Win a ticket to your favourite Summer Festival
Vodafone owns this promotion and has been running Centre stage for the last five years. They offer their customers the chance to win a ticket to all the major festivals including comedy.
While this is a promotion for their customer only, it is a great acquisition promotion. If you are not a Vodafone customer – you can’t win. This is their point of difference with the other mobile providers, encouraging their competitors customers to switch provider it they want to be part of this promotion.
Free Cinema Tickets
Cinema tickets have consistently proved popular across all demographics. Many brands have run promotions offering cinema tickets as prizes because they drive additional sales and customer engagement.
As a prize or reward, Cinema tickets don’t always achieve that point of difference. Both Three and Meteor have cinema tickets as their core loyalty offering. That said, it works because cinema ticket is that popular achieving redemptions number of approximately 30%.
So it could be argued that both Three and Meteor are minimizing their churn by offering their customer base assess to the same free reward.
Cash or Gift Cards
Winning cash or gift cards to spend in your favourite store is a definite treat. Whether it’s for a shopping center or a supermarket – people want that little cash boost to treat themselves or simply to save.
We have seen this with a number of our campaigns where we have offered €500 shopping voucher to Dundrum Shopping Centre. This competition had one of the highest number of entrants of all our competitions. But who wouldn't like to win a €500 Dundrum Shopping voucher!
These are just some of our most popular sales promotion incentives and rewards. To find out more about rewards, check our our Rewards Guide