Promotion insurance is suitable for when businesses want to run high expense sales promotions and minimise the financial risk in case the consumer response is higher than forecast. Running without promotion insurance could mean consumers may redeem more promotions than originally budgeted for therefore the cost of the promotion may outweigh the return which can happen if giving away prizes or promotions ends up costing the business too much money. If you’re unsure whether you need to take out promotional insurance before running your promotion, promotion insurance experts in the field can provide sound advice on your individual needs from understanding the brand, market and what risks are involved with running the sales promotions. If you don’t have the experience in house, you could minimise financial risks if you sought promotion insurance advice on risk assessment and management to maximise your promotional budget and minimise the risks involved. Before running the promotion, you may want to know what you can do to limit the risks so that you can make an informed decision on what you will give away as the promotion. There are many different promotion insurance services to choose from risk management consultancy, fixed fee promotion insurance, over redemption promotion insurance, sports risk, prize indemnity promotion insurance and many others. Risk management promotion insurance calculates the forecast return on investment against the cost of running the promotion prior to making the final commitment. Forecasting the risk allows businesses to calculate how much they can afford to pay on redemptions before deciding whether to down grade the promotion or not run the promotion at all. Fixed fee promotion insurance gives businesses the peace of mind that the up front promotional cost is capped at the set budget and any redemptions above the budget will be funded by the promotion insurance risk management company. Over redemption is similar to fixed fee promotion insurance however the company pays for all redemptions up to an agreed level but any further redemptions can be claimed against the promotion insurance policy. Sport risk promotion insurance is related events such as team sponsorship incentives based on sports results, match or event cancellation, ticket refunds due to the weather and many other sport related promotion insurance.
Promotion insurance from team-umbrella.co.uk. Come to us if you are involved in running a sales promotion where the consumer response is unknown: we will give you a bigger headline and limit your financial risk. Visit us today for promotional insurance.