Looking Beyond the Bracket for a Unique Sports Promotion
Popular sporting events, like say, the men’s college basketball tournament that’s about to get started are a great platform for successful promotions. These sporting events garner a good deal of the public’s attention anyway and promotions that are associated with them are a great way for brands to capture some of that attention and build their own exposure.
The most common college basketball tournament promotion is offering an insured mega prize to anyone who can pick the perfect bracket – correctly predict the winner of all sixty-three games. Of course, this is extremely difficult to do. That fact makes it an easily insurable risk. In addition, the concept of the perfect bracket is easy for the consumer to understand.
But there are downsides
One considerable downside of the perfect bracket promotion is that it has been done dozens, if not hundreds, of times over the past 20+ years.
PPI has insured many perfect bracket promotions each year and we have never paid a claim on this type of policy. To our knowledge, no one has ever won a prize for accomplishing this feat.
If you ask us, rather than running another perfect bracket promotion, perhaps it is time to create a new concept. Maybe the large insured prize is offered to one contestant if a real long shot (13 seed or higher?) is one of the last four teams standing.
Perhaps the contestants who picked the most winners in the earlier rounds have the opportunity to win an insured prize if they can correctly predict the score of the final game.
The bottom line is that brands can stand out from the crowd by offering promotions with large insured prizes. PPI has the experience and creativity to help you produce successful and memorable promotions for the brands you work with. If it’s not college basketball, maybe it’s a NASCAR promotion or a pro football promotion.
My customers aren’t really sports people …
And if sports don’t work for your brand, there are plenty of creative ways to weave the excitement of a huge insured prize into whatever theme fits. The Oscars? Game of Thrones? We have a lot of ideas that we’re happy to share with you. We can help you create a compelling and exciting promotion that utilizes Prize Indemnity coverage that also fits the constraints of the brand’s budget.
Successful promotions sometimes come with a downside. Miscalculate response rates, and fulfillment costs will put you in the hole. Over redemption insurance covers you for this risk.read more
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