I had to laugh at first. But it’s actually a pretty good deal when you look at the ROI. You might even call it an investment wave …
A friend of mine went out and bought an armload of cereal. She likes going to the movies and General Mills’ latest promotion was just too good to pass up.
The Deal Is This
Since a movie ticket costs about $11 and the cereal costs under $4, you’re making 300% on your investment. You also get your initial investment back (the cereal you bought).
Good Promotions Vs Bad Promotions
A lot of promotional ideas really suck when you think you’re getting something really great and it turns out to be not so great. This ususally happens when the promotion is worded badly and seems to offer more than it does. It also happens when there are hidden fees that have to be paid in order to take advantage of the promotion.
Bad promotions are cheap. They only have one goal: to make a short term buck. Because of this, they often have a way of leaving a sour taste in the customers mouth.
A good promotion can sometimes cost good money because the companies involved are giving away something of real value to their customers. They’re going for the long haul. It’s about branding. It’s about introducing people to new products or forgotten experiences and getting the word out there.
The General Mills / Cineplex / Empire movie ticket promotion is a good promotion. It gives real value. The goal is that you’ll buy the cereal, like it, and buy more of it. On the theatre side, they want to draw people away from their DVD players and big screen tvs to rediscover having “a night out”.
The beauty of this promotion is that it probably didn’t cost either company a whole lot. General Mills just needed to print a coupon on the box, and the theatres usually have empty seats available during most shows to fulfill their side of the deal.
*Note – I wouldn’t advise selling off your real estate holdings or stock portfolio to go buy a truckload of cereal …