Lotteries aside, there have been some rather large prize awards from promotions. You may think of a casino giving away a car or a charity raffling a house, but what are some of the largest competitions and promotions in history? We focus on the business world and the cost of some of the promotions and competitions ever held in an attempt to earn your business.
Expedia And Facebook:
Of course you knew that Facebook had to be brought into the mix. The largest promotion in the history of Facebook and social media for that matter was conducted by Expedia. They held the Expedia Friend Trips Game. It was held as a sweepstakes with the winners creating a virtual plan that they then point to a vacation destination that they can take up to 5 friends to. Also the largest promotion in the history of Expedia, some of the trips were valued at over $100,000 each. An expensive way to earn your business.
Play For A Billion:
Instead of a Harrier Jet, Pepsi decided to partner with ABC Television Network for the largest promotion in television history. Hosted by Damon Wayans, one person was selected for a chance to win $1Million on national television. They were then offered a chance to play for $1Billion. The winners took the $1Million guaranteed money as opposed to playing for the billion. However, this did not stop Pepsi from contracting with Berkshire Hathaway for an insurance policy to cover the $1Billion had someone won. A promotion that Pepsi obviously could not afford.
Supercar Or $150,000 Cash:
In 2012, award winning financial service provider IronFX launched a Supercar or $150,000 Cash competition. This was unlike any other type of live competition in fx trading history. They held a $30,000 demo competition earlier in the year but topped it off with this one by awarding someone 5 times their original challenge winner received. Prior to this, there have been few trading challenges that have come even close. In fact, even The Forex Championship competition only gives out $20,000, and that is for an entire season of trading.
Couldn’t just leave on McDonald’s and the largest ongoing promotion in restaurant history. Launched in 1987, McDonald’s Monopoly promotion pays out $1Million per competition as a grand prize. The history of the promotion is filled with fraud and funny stories, but you have to admit that they get their money’s worth. This promotion needs little explanation as it is known world-wide, being offered in countries such as the United States, Canada, Germany, Hong Kong, the United Kingdom, France, Portugal, Spain, the Netherlands, Australia, Singapore, Austria, Poland and Switzerland. This is one of the longest running promotions for a fast food chain and is one that will not be topped any time soon.
Crystal Chance is a marketing major at the University of South Carolina. As part of a current class project, she has authored a series of short articles about different promotions throughout history and their effects on company’s bottom lines. She has published numerous articles on the topic with different online websites.