Financial cuts left you with a low promotion budget? Don’t worry. Low-cost prizes, or offering ‘freedom of choice’ on how winners can spend their prize, can be an effective way to appeal to your target audience. Without breaking the bank.

Spreading a prize budget further is already a trend in 2016. Clients are still keen to include a major prize, but are increasingly adding a wider range of runners-up prizes to help the overall winner experience work harder for the brand.

But what if my prize isn’t big enough?

In a recent NDL Prizewinner Survey*, the single most important element for winners was not the number of prizes on offer, or indeed the creativity of the promotion name. Customers ranked first: ‘the utility or aspiration of the prize offered.’

By appealing directly to the most popular themes, or even worries, of your target audience, a more relevant prize can broaden your brand’s reach and increase trial potential. Why not offer a holiday to a choice of selected destinations? Or money towards their largest household bill? Or even an opportunity to improve life or employment skills, making your prize appeal directly to their current issues.

Drinks brand Johnnie Walker is currently bucking the trend of ‘party-based’ drinks promotions with their School of Life Promotion.

Inspired by the theme, ‘the pursuit of joy’, the brand offers Guardian readers the chance to learn how to strike a more effective balance between their work and personal lives. With the main prize of a two-hour School of Life Wellbeing Seminar, Johnnie Walker have cost effectively reinforced their life improvement message, setting the brand apart from the more mainstream drinks industry messages.

But we’ve always offered a specific holiday prize in our promotions?

When asked in our Prizewinner Survey*, 47% would prefer to win a trip to a selected destination, exceeding the 30% who would prefer a specific dream trip, such as Disneyland Paris. In reality, giving the choice of destination offers winners the chance to upgrade this year’s family holiday, which adds emotional value beyond the actual budget.

‘Demand for tech prizes, the latest phones and tablets, has also increased,’ says Nick Brigden, NDL’s Director of Rewards, Prizes & Incentives. ‘The ‘must-have’ value of a tech prize seems higher than a travel-related prize, even when the actual cost is lower, which in turn keeps our clients happy too!’

Even with aspirational ‘Win a Car’ promotions, when our Prizewinners* were asked to rank the most appealing prizes in order, winning a car of their choice up to the value of £60,000 was selected by an amazing 59%, over premium brands offering a 2015 Aston Martin (44%) or a choice of any BMW (43%).

How can a brand deliver a ‘Freedom of Choice’ message?

What’s your Ultimate Wish? Smooth FM and Poligrip

We’ve already helped Global Radio run a number of ‘Wish List’ promotions. Listeners are asked to describe their dream prize on air. Then we get to work behind the scenes, and make it a reality.

Each prize is designed within an agreed budget and usually turned around inside an hour! Listeners are amazed to win ‘the impossible.’ Global Radio is able to offer a truly unique promotion. The whole story creates great radio content, in the run-up before, during and after their dream trip. And we’ve made everyone happy.

Interested in our speedy promotion turnaround or creative mechanic ideas? Ring us for a chat on 020 7428 1214.

*Source: IMI International & NDL Prizewinners Survey

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