Have you ever tried to take the financial risk out of a promotion? Trying to guess the redemptions on a coupon campaign can be difficult and predicting the number of entries into a competition is a tough task. Getting it wrong can be costly. ‘Fixed Fee’ is one way of protecting your budget and your reputation. We asked expert Pete Lowndes-Burt of Speciality Promotions to explain more and to offer you the chance to win £5,000 to demonstrate how fixed fee works.
“Fixed Fee and Over Redemption Cover help brands make the most of their promotional budget without incurring unexpected or unplanned for costs. A recent Gambling Commission’s report found that 46% of people surveyed had taken part in a promotion to win a prize in the previous 4 weeks. Fixed free cover enables businesses, from SME’s to global brands, to offer huge cash prizes, rewards and incentives on, for, as the name implies, a fixed amount and without footing the bill directly or carrying any risk themselves.
For instance, our client the Australian Richmond AFL team teamed up with Bingle Car insurance and gave one lucky person the chance to win $1 Million by kicking a ball into the back of the specially designed Bingle car. We limited the risk to the client by putting in place an insurance policy that meant if someone did achieve the kick then the $1 million was paid out through their Speciality Promotions cover. The activity was a huge success and whilst, luckily for us, no one actually achieved the winning kick, the clients were extremely happy with the exposure that the $1 Million prize achieved for them.
Another good example of fixed fee would be for Dr Pepper. Last year they ran an on-pack promotion called Pants or Prizes which invited customers to enter a unique pack code and be entered into a draw to win a selection of prizes, the lowest being a pair of garish pants. The pants proved to be a huge cult success and our Over Redemption cover was used to pay for the costs of processing entries and prize claims beyond the client’s anticipated budget. It protected the business from an overly successful promotion that could have easily have swallowed the rest of the year’s budget.”
Speciality Promotions have years of experience with all types of promotion and can help you to get the most out your marketing budget. And now you have the chance to win £5,000 for yourself or your chosen charity! Simply send Speciality Promotions a promotional brief quote before 10thFebruary 2017 and if it it’s a Hot Valentine’s day you win the cash*!!” Simply send a brief for a fixed fee project to pete@specialitypromotions.com and mention ‘PromoVeritas’ for your chance to win £5,000. Full terms are below and at www.promoterms.com/valentines.
*Subject to Terms and conditions
Terms and Conditions of the “Hot Valentine” prize draw promotion
- Open to marketing professionals submitting a promotional brief (quote request) to Speciality promotions before noon on 10th February and mentioning “PromoVeritas”.
- The brief must be genuine and relate to a brand or project under the authority of the entrant and contain a first and last name, agency / client name, telephone number, complete mailing address, post code and email address.
- Only entry per brief.
- Entrants must be over 18 and entry is subject to their employer’s approval.
- The prize fund of £5,000 will only be activated if the temperature in London on Valentine’s day (14th Feb 2017) is above 12C (twelve degrees celcius) between the hours of 12:01A.M. and 11:59 P.M.
- If so the prize will be awarded to the first entrant drawn at random under independent supervision from all valid entries to received.
- The official temperature will be the highest temperature as measured and determined at the London Weather Centre (Meteorological Office) Clerkenwell Road, EC1R 5DB, and as determined by the Meteorological Office.
- Confirmation of the temperature at the appointed location will take a minimum of 7 days from the 14th Feb 2017 and the winner should allow up to 14 days for receipt of the prize from winner confirmation, via bank transfer to the entrants account. Cash will not be available.
- Incomplete entries, multiple entries, spurious entries or those containing incorrect information will void. Determining the validity of entries will be at the sole discretion of the promoter and no correspondence will be entertained in this regard.
- There will be only one prize of £5000 irrespective of the number of entries to the promotion.
- The name and country of the winner can be obtained 14 days after the end of the promotion by emailing info@specialitypromotions.com
- The promoter is Speciality Promotions Limited. 40 Carter Street, Uttoxeter, Staffs, ST14 8EU
