What's it called when you have five parties all benefiting from a marketing promotion?
What's it called when you have five parties all benefiting from a marketing promotion
?
It isn't often I run into what we call in the biz, a "self-liquidating promotion". By this, we mean that the promotion, activity or showing' actually pays for itself.
I found one recently while surfing the net, the Big Belly. The Big Belly is a unique garbage container that is a solar-powered, automatically-compacting receptacle that looks good, takes up a small footprint, and allows an advertiser to mount appropriate and tasteful ads on all four sides of the container. The site owners have the exclusive rights to sell this invention in all of Florida and the Caribbean and non-exclusively elsewhere.
This is a terrific example of taking a major problem and turning it into a positive. Imagine how often you have to empty then haul away the trash in certain situations like: at restaurants, supermarkets, hotels, and other food or hospitality businesses, not to mention on busy downtown streets or along the beach?
If they fill up fast, they have to be emptied sometimes four times a day. The 220 gallons of trash is compacted tightly (using up to 1,200 pounds of force) so it only has to be emptied once a day, instead of four. Naturally this saves labor, fuel, truck and time costs.
The garbage trucks (those which are rumored to get the least amount of miles per gallon on diesel fuel, 2.8 mpg) are now used less, since they are required for less frequent pickups. Consequently there is less carbon monoxide in the air, resulting in a greener environment.
Moreover, since Big Belly uses free solar power, there is no need to hook them up to the electric grid, dig trenches or string overhead wires to the unit. (However, because they are both attractive and popular, I would strongly suggest chaining them down, so they don't grow legs overnight).
Classic marketing occurs when someone searches out a pain or a problem and comes up with a solution that solves the problem or alleviates the pain.at a profit. This is exactly what the inventors of the Big Belly have done.
This is all good; but here comes the very best part of this little green wonder: the darn thing can actually pay for itself!
I called, Vince Barauskas, with Merrimac Leasing Corporation in Winchester, MA. He informed me that his firm provides new and used equipment leasing, whereby the buyer of the Big Belly unit has the option of placing advertising on the four sides of the unit. Usually, the income derived from the advertising pays for the monthly lease cost for the unit. After 36 months, you buy the unit for one dollar and it's yours. So is the ongoing advertising revenue.
Ann Fierimonte has herself a nifty little business here. One thing they have a lot of in Florida and the Caribbean is sunshine. How would you react if I told you this little beauty also sucks up and stores the juice even when it's covered by four inches of snow in Boston? It's true. It does just that, so these machines are capable of working anywhere in North America.
Just imagine if a business wanted to generate some positive goodwill and awareness for itself in town. It could buy one or three of these units, donate them to the municipality or township, work together with the city government to charge local businesses to advertise on the units with the funds going to the local business owner who paid for and donated the unit(s) in the first place.
This is a marketing case where everyone wins: the city gets some lovely, cost-saving, green trash receptacles; the advertisers get a great, on-the-spot ad where and when they need it; the public are informed of other local businesses that want their business; the local business owner who donated the unit gets a tax write off (perhaps, I'm not an accountant, but it sounds right); plus one of those four available ad panels to let the local passersby know that they were the local firm who donated this unique "green" contribution to the people of the town.
It's not often you come across what we call a self-liquidating opportunity like this. Usually it just involves two parties who win. In this case, I count five different parties' who benefit from this unique marketing joint venture: the town/city, the buyer of the units, the advertisers, the local community; plus the Fierimontes who marketed and sold these environmentally-friendly green bins in the first place.
What's it called when you have five parties all benefiting from a marketing promotion: a quintuple whammy?
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What's it called when you have five parties all benefiting from a marketing promotion? Anaheim