Saturday, November 15, 2008

Promo Dilemma

Here's the scoop. Just like many others, I just got an email for sponsorship of any/all of the 3 Bust Craftacular shows. I am contemplating the lowest level of sponsorship which includes business name and website on the program and Bust website as well as contributing promo items for the gift bags. I would have to contribute 500 items for the more established NY show and 100 to the new LA show. Have any of you done promotions with such volume before? What sort of items or coupons did you contribute? Did you see any noticeable traffic/sales. I was only going to try the LA show but reading about the success of the NY show makes me wonder if I should do both. 600 items by early December.

So I was thinking numbers here...2 ways to look at it;
1- I would be reaching 600 people for just over $1 (my promos cost me a buck). Where else will you pay that little and reach so many?

2- If only 10% of those people (60) actually visit and buy something, at say, $10 (my average price) that's a $600 return. Not too shabby. And even if only a few of those become repeat customers it will balance out.

Doesn't sound too bad, right? I want to use these fabric fortune cookies. I think they will stand out well against all the buttons, key chains, magnets and lip balms and they beg to be opened. Inside I will make a special....well, this is where I'm stuck. The cookie gets their attention but what's inside has to get them to come to Etsy. So it has to be something they'll keep once they've opened the cookie.
Now I'm thinking of turning it into a raffle or drawing What if I offer a gift valued at say, $75 if they come to Etsy and convo me to get their name in the hat. Would that be enough incentive for them to hold onto their freebie and actually come visit?

This is a huge risk and I want to take it but I need to approach it smartly. I would love any ideas, suggestions or feedback. Please!
I have until Monday to decide (last chance to get supplies in time). Please advise! Pros and Cons, let me have them!