Given the current state of the economy, it should be no surprise that last year’s predictions on most of this year’s compound annual growth rates for advertising are being scaled back. What do I mean most? Growth for the local interactive segment still seems likely. Perhaps this explains why South Florida’s Perry Kaye is off to a great start with his new marketing solution for local businesses – JumboJackpot.
Kaye, an award-winning inventor, designed JumboJackpot so that even small companies could take advantage of high end promotional web technology. With over 60 patents on the kind of secure technology that lotteries use, JumboJackpot is an easy way for businesses to connect with their customers in a fun and interactive way. Basically, instead of using a business card to tell your customer what your business is, the business card becomes a vehicle for the customer to patronize your business.
How it works: For $249, a business gets an out-of-the-box website customized with their company logo, a set of 500 business cards (with unique game code IDs), and one $50 promotional prize for the winning contestant. The setup process, which includes tailoring the system to meet the business’s targeted advertising goals, then takes about a week (Kaye plans on having setup down to just a few days for their major launch). After that, it’s up to the business to distribute the cards to their customers – perhaps via storefront, postal service, or Internet.
With game play card in hand, a customer logs on to JumboJackpot and enters their card’s unique code. The page then redirects to a page with a company logo, important details such as hours and location, and a short form prompting the customer to enter some information. Every business might require different information – some might only require an email address; others might require a name, phone, and mailing address. Once the information is provided, the customer gets to play a fun and interactive online game for a chance at a number of prizes.
With the information contestants enter, JumboJackpot creates a customer database for the business, enabling them to do more targeted marketing. “The Unique IDs also allow the businesses to get great metrics on where the distribution of their promotions is most effective,” says Kaye. In other words, if you order three different batches of cards, one for your storefront, one for mailing, and one for emailing – you can learn pretty quickly where your money is best spent on distribution.
After the first winning contestant takes the $50 prize provided by JumboJackpot, subsequent prizes can be defined by the business. Typically, they are buy-one-get-one discounts or percent-off coupons. Large cash value items can also be offered. “In order to offer the jumbo-sized jackpots, we pool together jackpots from several local businesses,” says Kaye. “Even if the odds are slim, it seems that people are more attracted to the chance of winning something really big. Just look at the success of Powerball.”
Kaye makes a great point. People simply have stronger emotional attachments to things that they win. “If a person wins a coupon, the chances of them using it are higher than if they were just given the coupon,” says Kaye. And so it seems fitting that the winning ingredient for JumboJackpot is, well, winning. I wish Kaye and his JumboJackpot subscribers the best of luck, but something tells me they won’t need it!