B2B Marketing Promotions

Believe it or not you can make money on the Internet giving things away. It is human nature for people to want to get something for nothing. This is why you see so many people trying to win things such as $! Million Dollars buying lottery tickets or playing a McDonald’s scratch game.

When it comes to making money online you can give away free stuff and turn them into an Internet income. Here are three ways you can do that.

1. Build your mailing list. Doing email marketing is a proven way to make money once you have a responsive list.

This is why you see so many Internet marketers giving away free ebooks, free reports, and access to free webinars. The trade off is the website visitor must give that Internet marketer their name and email address to receive access to the freebie they are offering.

Once you have a mailing list you can send offers out to it and sell products that earn you a commission. Affiliate marketing is a good place to get products that you can make money selling.

2. Take a free tour. This is a common tactic used in network marketing opportunities. You also see it in membership sites.

Let the prospect test the opportunity out for free for a certain period of time. In some opportunities they might charge $1 for one week and then if the prospect doesn’t cancel they are billed full price on a regular basis.

The idea is that if the opportunity is worthwhile letting them check it out before they have to pay is a good way to enroll new members. In network marketing you make more money when you build a large downline.

Once you have the few personal individual members enrolled, and they are working on building their own group, you can make a lot of money. Everyone uses the same strategy of giving away a free tour.

3. CPA Offers. This could be something as simple as having a website visitor provide their name and email address. There are actually cost per action offers that only require an email address for you to get paid.

You are not selling anything, but rather you are promoting a specific offer. Most affiliate companies that do this type of affiliate marketing have excellent landing pages that you can promote.

There is no cost to the website visitor and you earn money once they complete the specific action. You just spend your time marketing the landing page.

As you can see there are ways to make money online giving away free stuff. This is a proven strategy for doing Internet marketing that any one willing to work at can make money.

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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. Strategies including promotional risk coverage also build large brands through consumer loyalty. Everyone appreciates winning something, people enjoy watching others win, and everyone remembers who was offering the big prize.

Protect your company from  the promotional risk of over redemption on free promotional offers.

All digital promotion campaigns must have redemption coverage. Without it, you are setting up your digital promotion to fail, or worse, succeed wildly, sending you in the negative. Redemption coverage will not only insure your profits, it will also insure you will not end up in the hole. Redemption coverage can protect you against overexposure errors on contests, coupons and giveaways.

When running a digital promotion you must be covered for several reasons. Because it’s easy for marketers to miscalculate or underestimate their promotion costs, redemption coverage helps them know their costs before their digital promotion campaign ever hits the market. This way, if someone tries to overspend or overextend the contest, the redemption coverage will keep those costs in line with the original budget.

For example, if your company ran a “hole-in-one wins you a new car” contest, you can be fairly sure that no one will win. Your campaign costs are limited to the cost of the promotion. But what do you do if, against all odds, someone actually wins the car? You could be out $20,000 – $40,000 with the swing of a club. It is easy to think you are safe, until someone actually wins the car. Then companies running these campaigns find themselves in the hole, worrying about how to pay for the car.

Even in a digital promotion campaign, something can spin out of control, costing you thousands of dollars. Your free song giveaway may suddenly go viral, and thousands of downloads turns into tens of thousands of downloads. This is why redemption coverage should be your first step in your digital promotion campaign.

Another advantage to getting redemption coverage to accompany your promotion campaign is, it stops the overexposure of redemptions. For example, there is no overspend or underspend because you know the exact contest cost and guidelines. Redemption coverage gives marketers the “you have a chance to win” cushion to base their digital promotion campaign expenditures.

This is a great safety net for those talented marketing agencies that are used to only wearing their creative hat instead of their accounting hat. Instead of worrying and trying to calculate the odds of someone winning, just make sure you have redemption coverage.

The biggest advantage to this insurance, also known as promotional risk coverage, allows your company to launch bigger digital promotion campaigns and give away larger prizes than you might originally have done.

In all reality, using redemption coverage with your digital promotion campaign is more than smart and strategic. These strategies are exactly what builds a great brand and customer loyalty. Customers will work to win your prize, telling their friends, spreading the word. You’ll build fans, increase sales, and ultimately boost your ROI. This way, everyone will be successful, and you’ll rest easy knowing you’re not going to lose your shirt.

Promotional risk coverage eliminates the budget uncertainty associated with offering large prizes, attractive coupons, and generous rebates and premiums to your market. It gives you an opportunity to launch exciting marketing campaigns through which you offer high-value promotions that would otherwise lie beyond your budget. Such promotions attract attention. They excite people and generate an enormous response. As a result, you’ll enjoy a higher volume of in-store and online traffic, a surge in customer registrations, and a growth in sales.

As the economy continues to struggle, it is more important than ever that you stretch your marketing budget. Moreover, competition is increasing within every space. You need to have a way to differentiate your brand and products to an audience that is bombarded with promotional offers. Promotional risk coverage helps you to design exciting contests and games whereby consumers have a chance to win bigger and more compelling prizes. And you’ll be able to do so at a fraction of the prizes’ value.

Promotional Risk Coverage Protects You From Budget Overruns

Suppose you have a marketing budget of $15,000. You want to design a promotional contest that gives your customers the chance to win a $500,000 prize. The prize value is obviously much larger than your budget; it seems out of reach. Promotional risk coverage makes this type of contest possible.

The risk is placed with an insurance company. To outsource the risk, you would pay a small fixed fee. If a contestant wins the $500,000 prize, the promotional risk coverage takes effect and the insurance company steps in to cover the difference.

This same risk mitigation strategy can be easily integrated with your coupon programs, rebate offers, and high-value premiums. For example, suppose you want to launch a coupon program that carries a redemption value of $750,000 on a popular brand of deodorant. With a $15,000 budget, this may seem all but impossible. Promotional risk coverage makes this type of high-impact promotion possible by removing the risk of a larger-than-expected redemption rate.

When you notice your competitors offering staggering chance-to-win prizes of $1 million, it is not because they have a $1 million marketing budget. Chances are, their advertising budget is limited. They are able to design these exciting marketing programs because they are using promotional risk coverage to extend their impact. You can take advantage of the same opportunity.

Advantages Of Promotional Risk Coverage

The obvious advantage of promotional risk coverage is that it amplifies the impact of your marketing budget. It stretches every dollar. In reality, the benefits extend much further.

First, large prizes, coupons, and premium offers attract attention. They generate excitement and encourage consumers to participate. That gives you a chance to penetrate new markets, establish a presence, and improve brand awareness.

Second, by designing high-impact programs, you’ll quickly build a customer database that you can mine for future marketing campaigns.

Third, programs that leverage promotional risk coverage to offer massive chance-to-win prizes inevitably increase sales. This is due to the exposure you’ll enjoy as your customers get excited about the prizes.

Creative Marketing Campaigns With Promotional Risk Coverage

A lot of companies use promotional risk coverage to launch contests, games, and marketing programs at a fraction of the prize or redemption value. With a little creativity, you can design promotions that leverage this risk mitigation strategy even further.

For example, suppose you would like to launch a promotion that awards a $25,000 guaranteed prize. Promotional risk coverage will not cover guaranteed prizes, but it can eliminate the budget uncertainty of chance-to-win prizes, coupons, and high-value premiums. Instead of dedicating your budget to a $25,000 guaranteed prize, why not design a promotion that blends multiple types of promos? For instance, offer a $5,000 guaranteed prize, a $100,000 chance-to-win prize, and a $250,000 coupon program. Promotional risk coverage gives you the flexibility to design this type of creative marketing program.

Brand Differentiation With Promotional Risk Coverage

Differentiating your brand and products will always represent a major competitive advantage for your company. The challenge is using a strategy that excites your customers while keeping a tight rein on your advertising budget. Promotional risk coverage lets you offer high-value prizes, coupons, premiums, and rebates without concern for going over budget.

Would you like to generate excitement in your market by offering consumers a $500,000 chance-to-win prize? You can do so at a fraction of the prize value. Want to launch a $250,000 coupon program to stimulate a response and attract new customers? Doing so is easy at a small percentage of the program’s redemption value.

Invest the time to explore how promotional risk coverage can help you engage your audience, excite your market, and catapult your sales.

–Cyndi Walker, Promotional Currency