Customer loyalty has been a popular term in recent decades, and for good reason; “Acquiring a new customer is anywhere from 5 to 25 times more expensive than retaining existing ones, and increasing customer retention rates by just 5% increases profits by 25-95%” – Narvar. At MRi, as we celebrate 25 years in the promotions…
DetailsNow that you know more about the differences between a contest and a sweepstakes, it’s important to select a promotion that best fits your brand’s goals. At MRi, we use our 4 step IDEA process to Identify your promotion’s specific purpose, Develop a unique promotional strategy, Execute your promotion flawlessly, and Analyze the results in…
DetailsTrying to navigate the best marketing strategy for your brand during this pandemic is a true challenge unlike ever before. COVID-19 has disrupted more than just our homelives, many states have stay-at-home orders in place that force nonessential storefronts to close, which can be extremely detrimental to small business owners and large brands alike. You…
DetailsThinking of running a facebook sweepstakes or contest for your brand in 2020? The differences between a facebook promotion and your standard promotion can be quite stark. Before running a facebook sweepstakes or contest, you should know the advantages & disadvantages. See if a facebook promotion is right for you, and if so, follow our…
DetailsIntro The common denominator for all promotions: rewards. Whether it’s a sweepstakes, contest, game, loyalty program, etc., consumer participation is dependant upon a reward. So if everything hinges on the reward, why do they seem like an afterthought for some campaigns? Selecting the right reward can be intimidating. There are a lot of variables…
DetailsOn the surface social media sounds simple. Post. Post. Post. However, as many know, it is anything but simple. Getting your followers engaged in your content & brand is the hard part. We’ve all had that moment (or is it just me?!) where you put a lot of thought and are so proud of your…
DetailsSweepstakes (or sometimes referred to as giveaways) are a marketing tactic that brands small or large can benefit from. Before we dive in on why you should run a sweepstakes, let’s have a quick chat about what a sweepstakes even is. In simple terms: A sweepstakes is a promotion where participants enter and a winner…
DetailsYou don’t have to be a psychology professor to realize there is something about a loyalty program that just *clicks* with consumers. Loyalty programs can be extremely successful at engaging and growing a loyal customer base. Have you ever wondered why? Understanding the psychology behind a loyalty program’s success is imperative to reaching your program’s…
Details“Alexa, enter me in the daily giveaway” Cool, right? Smart speakers and voice activation are hot right now. You can’t talk about the future of marketing without someone mentioning alexa or google home. However, voice activation in promotional marketing tends to get overlooked. Voice activation can be another way to complete a frictionless experience for…
DetailsHow can brand managers use this information to increase their consumer engagement for the2019 holiday season? Key Insights1. The amount of online holiday shopping during the “cyber 5” period continues to increase,with 2018’s cyber five period resulting in about 20% of all holiday shopping revenue.2. This year’s must-haves on Black Friday were laptops, LOL Surprise dolls,…
Details
