What Are You Putting In Your Money Machine?
The undeniable attraction of a money booth promotion can be seen at any convention, grand opening, or promotional event. Most of the bystanders are cheering on whoever is trying to grab the money fluttering around his or her head, but many of them secretly think they could do better. If you have a money booth stocked with lots of money or prize vouchers, you’ll probably have a non-stop stream of folks waiting to try their hand at grabbing the goods.
It’s All About Value
Filling a money machine with cash can get expensive unless you use only small bills, but putting $50 and $100 bills in your cash cube may not be a practical option for your company either. The good news is that people get excited about more than just money — consider filling your money machine with coupons or prize vouchers! As long as what you’re giving away has value to your customers, your money booth will be a success.
If your promotion is worth the wait, visitors will take the time to learn more about your company while waiting their turn. So how do you keep interest high without stocking your money booth with unlimited cash?
Keep It Simple, Stupid
Human nature is a funny thing. If you increase the odds of winning something bigger and better by only a small percentage, you’ll instantly increase the number of interested customers exponentially. You can “kiss” your promotion (Keep It Simple, Stupid) if you simply toss a few larger bills into the cash booth among the $5 and $10 bills. You’ll capture the interest of far more people when they realize that there is a chance, no matter how slight, that they will be the ones who grab those $100 bills in your money blowing machine.
Entice Participants With Incentives
Money MachineIf you’re using a money booth at a retail attraction’s grand opening or annual sales event, you have the perfect opportunity to entice customers into your store. Stock your money machine with coupons that offer generous savings on your products. If a potential customer grabs three different coupons, each worth a substantial savings of 25% or more, they won’t leave the mall without spending them. Free “gift with purchase” vouchers are also good incentives. Customers will feel like they’ve won twice if they get a discount coupon AND a free gift voucher.
If you have a strong relationship with a nearby restaurant, you could also toss a few restaurant gift certificates into your money booth. If an individual wins a gift certificate for dinner while he’s in your money machine, he’ll be more likely to stop in at your store after he’s dined. Cross promotions like this are an exceptional way to increase the success of your money booth. You don’t have to put money or coupons in a money booth at all if you’re promoting a new theater or some other attraction. Instead, stock the money machine with free movie passes or tickets to an upcoming movie release.
Using Your Money Booth As A Fundraiser
Money machines are also popular at fundraisers. Tickets sold to attend the fundraiser event can include a go in the money machine, which can be stocked with prize vouchers donated from local businesses. Customers will love being able to give to charity AND have a chance to win fabulous prizes in a fun way. On the flip side, you could sell name slips to be put in the money machine. Once all the names have been put in, have a prominent citizen or the owner of your business step in and pick three names. Each winner will get cash or prizes depending on the amount of money raised.
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