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3 Tips for Choosing the Best Prizes for Your Contest
  • Contest Factory
  • February 26, 2018

prize selection

Hosting a contest or giveaway is an easy way to get some great leads and introduce new people to your company. However, even with a great sweepstakes idea, if you have bad prizes for your contest then you will not see a lot of traction. Use these three tips to be sure your contest has the best prizes.

  1. Choose Prizes People Want

You do not want to choose things that people are not interested in. Look for things that will grab their attention, entice their desires and make them really want to sign up for the contest. If the prizes are not something they want, they will not sign up.

  1. Think of Your Target Audience

When shopping around for prizes, you want to find a prize that motivates your target audience to enter.  This means it must appeal to the correct gender, age and psychographic qualities that your audience possesses. Not only do you want to find prizes that will attract people, but you also want to think of your target market. If your target market is mostly people who live in large cities, then choosing a prize that is useful on a farm will not do you any good. Be familiar with the demographics and interests of your target audience, and focus on offering prizes that will appeal to most of them.

  1. Don’t Be Afraid to Spend Money

You may be trying to save as much money as possible on these prizes but you should not be afraid to spend some money. For example, if you have decided on making a cooler part of your prize package, you should not get one at the discount store that is cheaply made. Instead, go for a popular brand that is widely known and desired.  What value threshold will it take to hand over your contact information.  Think of this as your cost-to-acquire leads.  You want to acquire contacts at the lowest possible spend.  Therefore you want to look at your other acquisition channels and benchmark your budget for the prize.

When done correctly, you can have a lot of success with your contest, but without the right prizes, you simply will not attract enough people or the right demographics. For more information to help you with your contest, check out our website and other blog posts.

 

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