Rusty Messages: 1415 Registered: May 2018 Location: Kansas City Missouri
Illuminati (3rd Degree)
Maybe the threshold ought to be higher. Depending on what the content is to be marketed, even a c-note wouldn't compel me to want to play some music lottery. I don't think though any monetary note would be used. They'd probably give a credit towards other purchases. Or some streaming service credit.
Strum Drum Messages: 239 Registered: November 2017
Master
Your idea could encourage people to buy, but you know what I see happening in that scenario? Folks buying records and then returning them once they realize it doesn't have the $100 inside. I think it would also encourage theft from employees at the store and from customers too. I know stores have promotions all the time where you have a chance to win something, but a hundred dollar bill makes it more attractive to the con.
Strum Drum, I think those issues are fairly easy to overcome. Sell the records as non-returnable merchandise or add a restocking fee and then sell them as used or open-boxed. Shrinkage has always been a problem, but most stores have cameras around which helps. Instead of giving away a $100 bill, I'd pick something that would benefit my store or a certain label, or whatever it is you're promoting. You could set up gift codes that they could plugin online to determine how much of a percentage off to give them next time or how much of a gift card they'll receive. Whatever the promo decision, it should help you move more merchandise. Putting the code online will also help you track fraudsters and gather customer information for newsletters. You could even have a rule that only in-store vinyl purchases are eligible for the prize and the winner must have a receipt showing they purchased that record. If you want to be really particular, you could even check the camera footage to see if they were in your store and bought that record.
All it takes is 5 or 6 new sales for it to pay off. It wouldn't hurt I suppose. In the meantime, if I were a store owner, I would keep thinking of even more marketing approaches. Businesses are struggling these days, so anything to get an upper hand is worth trying at least once.
Wayne Parham Messages: 18979 Registered: January 2001
Illuminati (33rd Degree)
Don't know how I missed this thread, but I love the idea. It's like a golden ticket!
But I buy plenty of vinyl already. So they don't need any marketing tricks to get me to bite. I'm just so glad record companies are producing so many vinyl albums again. The estate sales and used record shops are always so hit and miss on quality and selection.
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