An insurance policy buried a $10,000 prize deep in the contract, stating, “If you’ve read this far, then you are one of the very few Tin Leg customers to review all of their policy documentation,” the contract then provided instructions for the winner to redeem the prize.
$10,000 is a cheap price for all of the benefits the company will receive from this move:
- Great publicity. Who doesn’t want to get insurance from a company like that? And now their name is plastered across the internet.
- Great for court. Can you imagine going to court against this company about the language of their policies? “Your honor, I would like to point out that my client incentivized people to thoroughly read their contracts – always.”
- Goodwill from current customers. Even the customers who didn’t capitalize on the offer will have to feel good about their current insurance company. The company feels more honest, and people will be less inclined to shop around for options.
- Encourages transparency. Moves like this, and the benefits that flow from them, contribute to the honest practice of law and to the trust relationship between companies and their customers.
Given the costs of marketing, customer retention, and litigation, $10,000 seems a small price to pay for all that Tin Leg was able to accomplish.
If you’re looking to run your own contest or sweepstakes, make sure to follow good practices! Social Media Contests and Sweepstakes.
