Promotional Risk Coverage allows you to give away millions, without any liability associated to your promotion budget. The strategy behind marketing promotions, which include promotional risk coverage, is simple. It enables companies to differentiate brands in a very competitive market. Promotional risk coverage could provide your company with the means to give away millions in cash or large prizes. Your prize offerings are based on the odds of a winner claiming the prize. As long as your promotional strategy does not include a guaranteed prize offering as the only prize, your company can include promotional risk coverage with the promotion.

Promotional risk coverage can be found in promotions like you see on television, hear on the radio, read in newspapers or magazines, and see online or in internet promotions. They offer the consumer a chance to win, and when there is a winner, your company is protected against having to pay the winner. Much like you insure your car from an accident or your home from a natural disaster, you can cover your promotion against a risk associated with the liabilities of giving away large valued prize amounts. The cost of promotional risk is minimal, literally a fraction of the prize value, and is based on the promotional odds, the prize value, and the number of chances given to win the promotion – allowing you to deliver a huge incentive at a fixed cost that will never blow your budget.

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 promotional risk.

Promotional Currency’s proprietary promotional risk coverage service is a powerful tool that enables you to super-size your promotional programs.

Along with incorporating promotional risk coverage into all of their digital incentive product offerings, they help businesses manage their risk on redemption-based promotions. By analyzing the odds of redemption and then placing the risk with an A+ insurance company, Promotional Currency can provide your brand with a fixed-cost solution that amounts to a fraction of the actual promotional value. And should over-redemption occur, Promotional Currency will cover the cost – whatever the value of the prize, rebate, coupon or premium.

Read Case Studies: Sara Lee Royal Bank of Canada®
Benefits

• Offer High-Value Incentive for Fraction of Retail Cost
• Receive Fixed-Cost Solution that Ensures Budget Certainty
• Protect Your Company from Over-Redemption Expenses
• Eliminate Promotional Liability from Your Books

written by jross \\ tags: digital music promotion, digital music promotions, digital promotion, Digital Promotions, Music Download Promotions, promotion insurance, promotional insurance, Promotional Risk, Promotional Risk Coverage, promotions insurance

Digital music promotions are becoming more and more popular for marketers because they are valued by consumers. Whether you have a small business or work for a large corporation, digital music promotions are an effective, low-cost way to tap into different target markets. Thanks to iPods and mp3 players, fast broadband and smart phones, everyone is listening to digital music. CD sales are dropping, and not just because of the economy.   Consumers are value digital downloads and are responding to digital music incentives.

Of course, a successful digital music promotion involves more than just sending someone a $5 iTunes card for making a purchase. The smart marketers are tying their digital music promotions into a marketing campaign centered around a particular idea or event. One hotel chain recently gave free Classic Rock songs to their frequent travelers from a specially-designed website as part of their digital music promotion. Stay more nights, get more songs.

To follow are five examples of consumer markets, which value digital music promotions:

• Generation Y: I realize this is a rather large group. The largest of any group, in fact. At last count, Generation Y outnumbered Baby Boomers 82 million to 78 million. And it’s Gen Y that’s driving the digital music promotions. They’re the biggest users of smart phones, SMS technology, social networks, and of course, digital music. Any time you want to reach this age group with a marketing campaign, digital music promotions will be a safe bet.
• Runners and fitness enthusiasts: Nike hit on a particularly smart idea a few years ago, teaming up with Apple, and creating the Nike+ iPod Sport Kit. It’s a chip that will not only give runners their time, distance, pace, and calories burned, it will even pull up the music that matches your pace and inspires you to keep moving. It’s great for cyclists too. If you have an fitness-related business, a digital music promotions campaign that offers motivating and up-tempo music can really get your campaign off the starting blocks.
• Road Warriors: I’ve spent countless hours on planes and in cars, and I can only listen to podcasts for so long. But I would love to be rewarded for doing what I’m already doing, and listen to some of my favorite music. While we’re not out there for the rewards, they still make a nice incentive. In fact, some Road Warriors will make a game out of it, and try to find the most profitable rewards for the fewest miles traveled. So if you can create a digital music promotion which is based on miles traveled, nights stayed, or dollars spent, you’ll win the Road Warriors over.
• Stay At Home Parents: Tie your digital music promotions campaign into a product or service that a SAHM or SAHD is going to take advantage of. Parents are just like Road Warriors: they’re already doing their thing, regardless of the incentives. But if they can get a little something extra for buying a product from you, instead of your competitors, they’re more likely to take advantage of it.
• Entrepreneurs: Whether it is due to the economy, or the fact that more people have a burning desire to start their own business, we’re seeing more entrepreneurs and in the business world these days. They are working in coffee shops, meeting at restaurants, and trying to keep costs as low as possible. When you start looking at their buying patterns, you see coffee shops being a big part of an entrepreneur’s budget. The smart coffee shop owner is going to attract the entrepreneur crowd with a digital music promotions campaign. Instead of giving away a free cup of coffee, try giving away free downloads of the music you’re playing in the store. And if you have musicians play on the weekends, be sure to include any of their music in your campaign.

written by jross \\ tags: Digital Music, digital music promotion, digital music promotions, digital promotion, Digital Promotions

Sometimes I get asked to compare digital music to other promotional incentives.  There are lots of ways to do a comparison, but the takeaway is that few incentives create the immediate emotional connection.  In that spirit, I thought that each week I will try to find and share a “cover” for you to enjoy.  This week’s installment is a Deftones version of The Cars “Drive”.  Enjoy.

written by Steve \\ tags: Digital Incentives, digital music promotion, digital music promotions, Digital Promotions

written by jross \\ tags: Digital Promotions