By Princewill Ekwujuru
Before now, public perception of promotions had been that of apathy and an attempt by promo organisers to defraud unsuspecting consumers.

Today, all that suspicion has disappeared. Presently, Consumer Protection Council (CPC) and Lagos State Lottery Board (LSLB) are  represented at most promo draws to authenticate such, and ensure that promises made during promos are fulfilled.

However, the growing trend in the financial sector since the meltdown and Central Bank of Nigeria’s (CBN) reform agenda, there’s been increased use of promotions to attract funds from the banking public.

These promotions which usually are savings based, if not for that of Access Bank that is Savings/Current account based, offer mouth watering packages ranging from cash, houses to brand new cars and household appliances.

Between July to October 2010, banks ran such Savings/Current account promotions, for example, First Bank’s big splash promo, Bank PHB’s ‘You go win prom,’Diamond Bank’s Savings Extra promo to mention but few offered N1million cash and a Toyota Yaris, N10 million cash   and a Toyota Camry and other prizes which include Motorcycles, laptop, air-conditioners and Televisions.

In the same vein,  UBA’s grand slam promo offered 10 plasma TV, DVDs, Washing machines and Desk top computers.            But Access Bank embarked on Take the Lead promo, which is expected to come to climax in March 2011 is a shift away from other promotions.

For the first time in the history of promotions , a company is giving out un-branded cars unlike others which undertake similar promotions.

The rationale behind it’s gesture was what Access Bank management captured in this statement, “if you brand a car, it diminishes the value. It is not a good strategy for the bank’s winning customer to drive a branded car around town, it’s not impressive.”

To authenticate the winnings,  Access Bank signed a Memorandum of Understanding (Mou) which invariably signs off the car to the winner.

This new dimension has not been noticed in promotion circle for a long time. To further authenticate the promotion, the bank provided relevant information to enable the public investigate its claim, the information include; Names of the winners, Account number, Branch, Home address, Phone numbers of the winners engine numbers of the cars, chasis number, key numbers, model and colour of the cars estimated to worth N6.5million.

The transparency of the car was further confirmed by CPC’s Chief Surveillance and enforcement officer, Mrs Ngozi Obodike in the first instance. While an Enforcement officer and Ms. Toyin Damilola,  Compliance  Officer of LSLB at the third draw of ‘Take the Lead’ promo was affirmative with their view  when she said, “the computer enabled raffle draw producing the winners remains one of the most transparent of promo draws, with LSLB witnessing the reward of the winners is a clear  indication of the bank being truthful  to their words.”

Mrs. Chinwe Uzoho, Group Head, Liability Products of Access Bank’s  Access Advantage account, said the bank came up with the promo which started in June to end in March 2011 as a result of the clamour by  customers who felt short changed to participate.