A successful premium marketing campaign is very beneficial to a company. It aids in establishing effective consumer relationships. A good campaign will:
- strengthen early-stage consumer relationships
- encourage continued repeat business
- assist with targeting a specific audience or cohort of your target market
- create emotional connections with your consumers by serving as a motivational driver to investigate further or purchase a product.
Premium Marketing is promotional items such as toys, collectibles, souvenirs, and household products. They are linking to another product and often require box tops, tokens or proofs of purchase to acquire. For example, the consumer generally has to pay the shipping and handling costs to receive the premium.
Premium marketing falls into three categories, free premiums, self-liquidating premiums, and in-or on-package premiums. First, free premiums are sales promotions that involve consumers purchasing products to receive a free gift or reward. Second, self-liquidating premiums are consumers that are expected to pay a monetary value for a gift or item. Lastly, the in-or out-package premium is where the package is including small gifts.
It’s also very important not to confuse premiums with other forms of sales promotions. There are a number of ways in which retailers can entice consumers.
– Wikipedia (source)
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