Looking Beyond the Bracket for a Unique Sports Promotion
Prize Indemnity Insurance from PPI makes it easy to create attention-grabbing promotions for the brands that you work with.
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.
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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.
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So how do you break out of the bracket?
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.
Contact PPI at 888-407-5841, email us, or fill out our quick quote request to let us know what you’re interested in doing. We can help you make it happen.
Kentucky Derby: The Most Exciting Two Minutes in Sports Promotion
Kentucky Derby: The Most Exciting Two Minutes in Sports Promotion
The Kentucky Derby is known as the most exciting two minutes in sports. The Derby and other high profile horse racing events can form the basis for exciting insured promotions.
A race with a rich history
The Kentucky Derby takes place on the first Saturday in May and is frequently referred to as the “Run for the Roses” for the blanket of roses given to the winning horse.
The Derby and Churchill Downs, the iconic race track at which it is held, were both the brainchildren of Colonel Meriwether Lewis Clark, the grandson of William Clark (of Lewis & Clark Expedition fame).
The Derby has a long tradition, having been run every year since 1875.The festivities and pageantry surrounding the race, including the fancy hats, the parties and of course the signature cocktail – the Mint Julep – are a throwback to a time when horse racing was a major sport in the US. The race retains the ability to make the American public stop and watch and is a bucket-list item for many sports fans.
Can such a traditional race still generate excitement?
There are multiple ways that brands can create exciting promotions, with a large insured prize, connected to the Derby.
Here are a few ideas:
Perhaps all entrants are given the opportunity to win the insured prize if they can correctly pick the exact order of finish of the top ten horses. Anyone that can do so would be awarded a prize matching the winnings of the winning horse ($1.86 million in 2018).
Another possibility would be to turn the “pick the winners” premise upside down by asking contestants to pick the order of the LAST three or five horses in the finishing order. Perhaps the insured prize would be the amount paid at auction for the top horses in the race.
Additionally, a brand might create a Derby promotion by offering one randomly selected contestant a large, insured prize if the winning horse breaks the track record for the race (1.59.40 set by Secretariat in 1973).
PPI’s experience can help you create eye-catching promotions that capture consumers’ attention for the brands that you work with. We are especially good at coming up with just the right unique, creative promotion mechanic, along with the right size of the prize and odds of winning to fit the brand’s budget.
Whatever the premise, a promotion built around the Kentucky Derby can be a big winner for a brand and its customers.
Contact PPI at 888-407-5841, email us, or fill out our quick quote request to let us know if you’re interested in creating a Derby Day promotion or any other unique contest. We can help you make it happen.
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