Erik, one of our engineers here at VR, won a free lunch for 10 at a favorite Mexican restaurant here in the neighborhood. He invited the first 10 colleagues that RSVP'd. I went, I’m a sucker for great food and this place serves it up. He won it for putting his business card in one of those Plexiglas ballot boxes at the restaurant from Ameriprise Financial Services (the old American Express Financial Advisor's).
We were cordially greeted by a representative of Ameriprise. After we ate our delicious lunch we were passed a one-sheet financial quiz with questions that relate to the value of money, retirement, etc. We went over the answers as a group, nice little team building exercise. Then we were asked to write down if we wanted to be contacted by a representative to go over our personal finances.
For a second I was surprised. That’s all? Great free lunch with 9 of my colleagues and a quick pitch? Cool.
A few weeks later Erik won the lunch AGAIN at another restaurant. He brought a different group of 10 people. Then I started looking at restaurants in the neighborhood and the boxes are everywhere. Must be working.
Why is it working?
- Obligation - First of all many of us have a sense of obligation, guilt, whatever you want to call it. We just had a great lunch, we feel like we should do something for that lunch. I don’t know if anyone wanted to be contacted but it was for a risk-free meeting so there is a chance that someone did. The restaurants like it because it fills the seats. To add to that, the restaurant might get a new customer, someone who hasn’t dined there before.
- The Numbers Work - For Ameriprise they had to buy lunch for 10 people at about $15 per person. That lunch costs Ameriprise $150. Now if one of those people become a customer that could MORE than pay for not only their lunch but chances are many of those $150 lunches.
- Ameriprise is Building a List - Chances are they’ve researched the company before Erik “won”. They know we’re a growing technology company with a number of employees that may match their demographic. They asked for our information so they could potentially cultivate a relationship at a later date.
Who Else Has it Worked For?
The Followers of Sun Myung Moon - If you remember they’d give you flower at the airport, then ask for a donation. Do they do that anymore?
Retail Shops - Ever walk into a retail store and get offered you a glass of wine or an espresso while you “shop”?
Non-Profits - Did you ever get personalized return address labels from a non-profit with a return envelope for your donations?
Time-Shares - How about those free weekend invitations to a time-share, where all they want is for you to sit through an hour video?
In the end, either Erik is bringing in some ringers or Ameriprise doesn’t have a good prospect management system. In any event I say that from the numbers perspective it's a pretty good customer acquisition campaign. Who knows? It might make sense for your business.
...and we couldn't have done it without YOU! Thanks so much for voting for us. 
Recent Comments