by Jason Chambers
LinkedIn: Jason Chambers
Marketing companies are always trying to grab your attention, and in today’s economy one of the most effective ways is to create value through quantity. Aside from the economics of creating said value, thus inducing an increase in revenue via increased sales, we like to get stuff…. especially if it’s free. Most promos are obvious why the company sees that giving something away would result in a positive outcome for both the consumer and the company itself, but then there are time where the promos are just plain weird. Here are some examples:
It makes one wonder what their point was; to draw attention, be humorous, or did they really think it made sense? Without the sales data to illustrate the results, it’s hard to know for sure, but I imagine the weirder the promo is, the more attention it gets, but most likely not what the seller had in mind. It’s a bit more forgivable if a local, small business does this if only for their lack of experience or knowledge of promotions or marketing their company. On the other side of the coin, its hard to understand how large businesses, that almost certainly have a marketing team (or at the minimum outsource this task), can overlook the effectiveness. One of my favorites is a free trade-show Del Taco branded fanny-pack radio. I think the absurdity of the product speaks for itself:
And then there are promos that work. Speaking from personal experience, I collect coded bottle-tops from Coca-Cola brand products and enter them online. After a certain amount of points, you can either redeem them for intangible items, such as mp3’s, computer wallpapers, sweepstakes entries, and donating a dollar amount to a charity. They also have items you can “purchase” with points which, on two occasions, I’ve redeemed the points for a one-year magazine subscription. Clever as you’d expect a large corporation to be when marketing, they allow the points to expire if there is no activity for 90 days, so I’m encouraged to buy more Coke. It makes perfect sense, as we are inherently drawn to deals, so putting a time-limit on the promotion can incite impulse purchases.
In the end, we all want something for nothing, so as long as this is the case BOGO will never expire.