Marketing and Sales

Money Talks: It's Past Time That Marketers Reconsider Reward-Based Promotions

Headshot of Peter J. Rosenwald
By Peter J. Rosenwald

Recently, Bill Warshauer provided Target Marketing readers with a timely reminder of the efficacy of reward-based promotions and their utility in replacing discounts in the promotional mix.

Extremely interested, I commented and a somewhat updated summary follows:

It is past time that marketers reconsider reward-based promotions.

Let me give you one simple case history.

Some years ago, a client, a leading bank, found that they were sending pre-approved but unrequested credit cards to customers and were getting unacceptably few people “deblocking” or “activating” their cards despite a regular monthly conversion series urging them with various incentives like no annual charges for one year, to accept and use the new cards.

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Headshot of Peter J. Rosenwald

Peter J. Rosenwald

Peter J. Rosenwald is an expat American living and working in Brazil; founder and first CEO of Wunderman Worldwide, International Division of Wunderman agency) and first chairman of Saatchi & Saatchi Direct Worldwide; strategist and senior executive in charge of building subscription and data-driven marketing for Editora Abril, Latin America's leading magazine publisher; founder of Consult Partners, active strategic marketing consultancy working in Brazil, U.S. and U.K. International keynote speaker on data-driven marketing and author of 'Accountable Marketing' (Thomson), 'Profiting From the Magic of Marketing Metrics' (Direct Marketing IQ), and 'GringoView' blog author for Brazilian Huffington Post. With an international perspective, my blog's purpose is to share my maverick views of this business I've spent the last half-century working in, enjoying and observing.

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