[If they can make up the word ‘Bracketology’ we can get creative too!]

College basketball teams are deep into their conference schedule and March Madness™ is just around the corner. Bars and restaurants can benefit from the excitement of March Madness™ by implementing marketing strategies that optimize their brand exposure and increase sales traffic. Traditional marketing strategies such as newspaper ads or radio spots can be effective, but including a sales promotion or premium product in a marketing plan has been proven to be even more successful. These ideas can be customized to fit your business and customers’ expectations to create a fun and exciting atmosphere for March Madness™.

Tournament Brackets: Spice up bracket contests by awarding participants who correctly complete a region or round of games on the bracket. Discounts on a product or service or imprinted products can be given away as prizes. Breaking down the bracket and prize pool increases the number of winners, which boosts traffic at the business. Display the grand prize at the business location to increase word-of-mouth or “buzz” marketing for the prize and brand.

Prize Drawings: Create a prize drawing for a March Madness™ watch party sponsored by your business. The winner can invite friends to watch a basketball game and enjoy snacks, refreshments and other special treatments provided by the business. Other prizes can be given away such as imprinted bottle coolers or tee shirts. Not only are drawings a great way to attract customers, they can also be used to survey participants. It gives your business an opportunity to ask customers about your product or service and how it can improve.

Promote Game Day or Night: Create a calendar and label featured games that will be broadcasted at your business. Place the calendar on dining tables or at a bar where customers can view the schedule. A great way to attract customers to game nights is to create a trivia game. Trivia questions can be general or customized for different themes. Get creative with prizes and include your brand name. Glassware imprinted with the brand logo or message is a great giveaway.

Headlines on Microsoft’s $44 billion bid to buyout Yahoo almost read like a melodramatic love triangle between Microsoft, Yahoo and Google.
• Microsoft wants to win over Yahoo to compete against Google.
• Google calls Microsoft’s move a mockery of the Internet’s “openness and innovation.”
• Yahoo re-evaluates its worth. Says Microsoft undermines Yahoo’s value and rejects the offer.
• Does Microsoft feel scorned and defeated or is it biding, waiting for the next opportunity?

It’s a good thing marketers can take away several lessons from this tangled Web.
1. Alliances are healthy, but not at the sake of individuality: Companies are merging left and right, leaving great power in the hands of a few. If this trend continues, consumers will fall into the umbrella of one big corporation and individuality will be stifled. Marketers should work to preserve uniqueness and innovation. Consumers need a variety of products, services and experiences to fit their individual lifestyles.
2. Always, always keep your stakeholders informed: Yahoo Chief Executive, Jerry Yang sent a message to employees, assuring them that leaders are trying to avoid a Microsoft acquisition. It’s important to keep employees and stockholders informed of the company’s position on major issues. When internal communication breaks down, the business could very well crumble with it.
3. A little “shock and awe” can up the ante. Microsoft’s bid made big news, and in the wake of the offer Yahoo’s share price rose 1.48 percent. Shaking up the marketplace can have positive or negative effects. Sometimes the market calls for a little (or big) change in order to re-shape the landscape for competitors and consumers. Here’s when it pays to be prepared no matter what side you are on. Always periodically evaluate your internal strengths and weaknesses and external opportunities and threats. You don’t want to be in for too big of a surprise.