Thursday, October 11, 2007

Add Premiums to Your Product

One way to add to the customer experience and increase your value proposition is to combine premiums with the stuff you sell. Promotional premiums are items, services, or experiences that you don't normally offer and are not part of your normal product mix.

The premiums can be free or, in some cases, be sold to your customers on the condition that they do business with you. They are either limited time or limited edition offers. But if you're going to get into the premium game, make sure they work hard for you.

Here is a great idea-generating read from Steven Stark in Promo Magazine that explains different types of premiums and how they might be used: Free Monkeys For All

Some of Steven's advice:

  • Your premiums should deliver real surprise and delight
  • Your premium should intersect with the core ideas and assets of your brand
  • Develop your premiums as you develop your promotions, not after
  • Think big!

For more small business marketing advice and lessons, see our other blog: The Marketing Spot

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