How to set RIGHT OBJECTIVES of Premiums Campaign in 10 Minutes?

Have you had experience as per below ?

  • Failed to achieve optimised marketing or promotional result by using promotional gift?
  • Not confident with the power of promotional gift ?
  • No idea how promotional corporate gift able to help your business growth?

If your answer is YES, it is very high possibility that you are not setting up  CORRECT OBJECTIVE during initial stage of marketing plan by using promotion gift. In fact there are 3 BASIC TYPE APPLICATION of premiums, include FREE PREMIUMS, ON- PACKAGE PREMIUMS and SELF-LIQUITADING PREMIUMS. Each application have different marketing objective and it will lead us to achieve different result.

 

FREE PREMIUMS

The marketing objectives of such premiums are to

– Promote multiple brand(s) purchases

– Increase brand recognition and customer awareness

– Encourage new or additional brand use

– Make brands more user-friendly

– Reward loyal consumers

The benefits of free premiums include it add value on the company, no need for elaborate packaging and it allow larger premiums to be offered.

 

ON-PACKAGE PREMIUMS

The marketing objectives of such premiums are to

– Increase brand visibility and customer awareness

– Revitalize a mature brand

– Promote multiple purchases through continuity premiums

– Encourage new or additional uses for a brand

– Reward customer loyalty

The benefits of on package premiums include positive Impact at point-of-sale due to their visibility,offer immediate consumer gratification,have no redemption or coupon cost and provide added value.

 

SELF LIQUIDATING PREMIUMS

The marketing objectives of this type of premium is to attract more customers with low prices.

The benefits to the manufacturer is that they receive additional revenues.

Successful premium programs require that marketers to

– Match the premium to the targeted market;

– Carefully select the premium ( avoid fads, try for exclusivity);

– Pick a premium that reinforces the company’s product and image;

– Integrate the premium with other IMC tools ( especially advertising and POP displays)

– Don’t expect premium to increase short-term profits.