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Managing your risk landscape
Thu 18 Aug 2016 @ 15:54
Promotional marketing is a brilliant way of tapping into the minds of your consumers. How better to stand out from the drab, monotonous offerings of other brands than with a stand-out, on-pack promotion or prize giveaway?
Human nature craves novelty
While consumers tend to be loyal to brands, they also respond to novelty. People want to shake things up and plump for something they haven’t tried before, or take up an opportunity to gain a reward. On-pack promotions are the perfect way of adding variation to a product while maintaining the integrity of the brand in question. If a consumer sees that his favourite chocolate bar or washing powder offers him the opportunity to win a prize or enter a contest, then that brand has a claim on his attention, and remains exciting.
Promotional marketing in the digital age
As social media continues to grow, viral marketing relies increasingly upon capturing the imagination of ever more dynamic consumers. Promotions and prize giveaways are the most effective means of staying relevant. Where promotions are on packages this does not stop them from transitioning to interactive media such as applications and social media campaigns. Indeed, on-pack promotions can work in tandem with web content to produce greater recognition of a product or brand, to get people talking, and to implant awareness into the minds of consumers.
Help spread your brand name
Prize giveaways are the most social-media-friendly marketing tool at your disposal. Setting up a contest is as simple as posting on Facebook or Twitter, and encouraging users to ‘like’ or ‘share’ in order to be in the running for a prize. By tethering such opportunities to shares on social media, your brand name will soon spread like wildfire. An average Facebook user has around 330 friends. All it takes is for a single user to share once, and then, if the prize is sufficiently enticing, another of their friends will almost certainly share – if this continues and goes beyond the original user’s immediate circle of friends, the competition could go viral and reach tens of thousands of people in no time at all.
What's the return on investment?
Such promotional ventures offer an unquestionable return on investment. Posting on Facebook or Twitter is free. If this increases brand awareness, more people will purchase your product in store. On-pack promotions are just as important since marketers are increasingly finding that a dual strategy is the most effective method of targeting consumers. Web content raises awareness and thereby feeds into package promotions, and many on-pack prize giveaways ask users to enter their details online. If competition between brands is particularly fierce, either because of similarity or price, then a bold and colourful promotion – even if the consumer has no intention of taking it up – can make all the difference. People do not have the time to make complex decisions on the pros and cons of a product while shopping, and so they usually choose the most appealing and exciting package or brand.