Utilizing The Second Deadly Sin

The LA Times reports California will pay out $116.5 million in prizes. Ten residents are getting a shot (SORRY!) at $1.5 million each and 30 at $50,000 each. Another two million $50 gift cards will be awarded.

This is to give residents every possible motivation to finally roll up their sleeves as the state’s vaccine rollout enters its crucial next phase.

Since protecting their health isn’t enough incentive to get vaccinated, reluctant citizens are now being lured by vaccine lotteries. Ohio reports their “Vax-a-Million” lottery ($1 million prize every week) has caused vaccinations to increase 49% in just two weeks.

Columnist Doyle McManus explains this success; “What really motivates people is the chance to strike it rich.” Obviously, free donuts and beer pale in comparison.

It’s a timely reminder of using greed to grow your business. A chance at free money (or free anything, for that matter) draws attention and increases participation. As a Republican and Democratic governor have both determined, a million dollars also grabs headlines.

Sales promotions are worth considering when you’re looking to increase attention and results. They’re an important component of every business's marketing strategy, boosting short-term sales, expanding audiences, and enabling partnerships. They work well in retail, direct mail, or digital media settings.

Sales promotions surround us, and include displays, free samples, cents-off coupons, contests, sweepstakes, special events, premiums, continuity programs, in-store displays, trade shows, rebates, and gifts with purchase offers. You’ve probably participated in a few of them already, perhaps without realizing it.

Whether you’re targeting consumers, resellers, or your own sales force, promotional tools make you more competitive by providing an extra incentive for the target audience to purchase or support your brand over another. They’re also a great way to spur product trial and unplanned purchases.

And since they’re VERY cost-effective, sales promotions can mean a big improvement to your bottom line.

As you’re looking to expand your business, don’t forget to use consumer greed to your advantage. After all, “FREE” remains the most important word in marketing.

You may even want to check to see if your vendors will share the costs of having you push their merchandise a little harder to your customers. It’s called cooperative advertising, and it can help build your business at minimal cost.

With that said, I wish you a week of profitable marketing.

---------
Get other promotional ideas at www.marketbuilding.com.