“It doesn’t matter how ready you are – it is the unpredictable impact of a situation on your clients’ business that produces the ripples that will inevitably affect your business, down the line.”
Thus says, Jeremy Stern, CEO of PromoVeritas, Europe’s leading promotions compliance specialists. Founded in 2002, the company has administered thousands of prize promotions and given away over £50m of prizes worth for some of the world’s biggest brands including Cadbury, Amazon, Amex, Pepsi and Kellogg’s.
PromoVeritas offers a unique blend of legal, marketing and operations expertise and everything from drafting terms and conditions to running microsites, collating entries, choosing winners, fairly and legally, then fulfilling the prizes. Their reputation for integrity and detail has also led them into the interesting area of overseeing live voting for TV shows, so when you hear a presenter saying ‘…and the votes have been independently verified…’ chances are it is PromoVeritas.
Chief Executive Jeremy Stern explained: “I was originally a marketer and I could see that promotions weren’t being run particularly well. The initial creative ideas were great, but then it all got a bit disorganised. That was because the people running the promotions didn’t have an easy way to deal with seeing it through. So I set up a company that could fill that gap. We are now a team of nearly 40 people, with hundreds of clients and work in 80 countries around the world.'''
But when Covid-19 hit and the mood of the country changed, there was little PromoVeritas could do, however impressive its range of services. Projects started to evaporate as clients felt that glitzy competitions were no longer the order of the day.