There is probably no one among us who has not entered a competition or promotion at least once.

It is the natural desire to compete and to win that pushes us into the arms of promotions and tempts us to start hunting for bargains. This is well known to the experts who deal with planning and organising promotions for the client on a daily basis. Often a whole staff of people works to create a promotion that is interesting and engaging for the user.

Some are based on the well-known “enter a competition, buy product X and win” scenario. Others, especially those organised by banks, often have a much more complicated formula. And these are the ones we will be looking at right now, as banks are the business sector that organises many promotional and loyalty actions.

Interestingly, you can even find guides on the internet on how consumers can make money from bank promotions!

So, one step at a time, what are bank promotions really? They are nothing more than encouraging the consumer to make use of a particular banking product, such as a personal account, a credit card or an attractive business offer.

When the consumer decides to make use of an offer on the bank’s terms and conditions, he or she is rewarded with a cash bonus, a higher interest rate or an in-kind prize.

What prizes do banks most often offer?

By far the most common prizes for taking part in a bank promotion are, of course, financial bonuses, which can sometimes reach several hundred PLN.

There is also plenty of in-kind prizes, such as bicycles, watches, smartphones or other electronic equipment.  There are also gift cards, vouchers for services or refunds of a certain part of the value of purchases, known as #cashback.

Is there a catch here?

It turns out there isn’t! Why? Because when a bank organises a particular promotion, its aim is to attract as many customers as possible, and therefore the cost of the bonus as a reward for opening an account is the bank’s investment in the acquired customer.

Who else besides banks does promotions?

Well, here we can with a clear conscience list practically every company on the market, from large corporations to small family businesses.

This form of tempting customers simply works.

More information on promotions coming soon!