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Spoke Declares ‘Bore’ War
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Over Redemption Insurance
Running a promotion is ultimately designed to increase product sales and attract heightened brand value. Promotions that are too successful, however, can end up costing a huge amount of money, if say, they are based on a redemption structure such as a “buy one, get one free” or “buy one and get one half price”. It’s not uncommon to see brands assisting each other in this area, as part of a ‘you scratch my back and I’ll scratch your back’ exercise.
A magazine or publication house may run a three month ad campaign promoting a particular product deal. Each consumer that takes up the deal is then given a free 6 month subscription to that particular magazine, or from a choice of publications produced by the publication house. Over redemption insurance allows brands / sponsors to protect themselves against a promotion redeeming beyond their anticipated level.