SAM set up and manage Sales Promotions on a day-to-day basis and are regularly asked which competition prizes have the strongest pulling power? In our experience - CASH IS KING!
Why are Cash Prizes popular?
- Cash prizes have universal appeal
- Cash prizes can be advertised simply and powerfully
- Cash prizes provide winners with total ‘freedom of choice’
- Cash prize offers stimulate consumers to ‘buy now’
- Cash is highly desirable in our expensive, debt ridden society
What is an effective Cash Prize Pool?
Because the lure of Cash is so strong, prize pool totals needn’t be excessive. We recently had a $2000 Cash prize winner comment that if given a choice, she would much rather have her $2000 Cash prize than another more expensive prize such as a trip to Europe.
What would you prefer…$2000 Cash on the spot, or a trip to London?
What Promotional formats work well with Cash Promotions?
- Instant Wins: on the spot prizes (cash & pre - paid debit cards)
- Jack Pot Sweepstakes drawn hourly, daily, weekly or monthly
- Cash Backs on big ticket items
- Bonus Offers: Buy a Product & get Cash to spend on extras
For information how to structure and manage a Cash promotion and please contact Peter McKinnon at SAM:
- Telephone (03) 9646 5644.