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Consumer Contests That Work For You

IIn today's competitive environment, businesses are seeking innovative ways to increase sales. One type of sales promotion that can work well, if properly planned, is a consumer contest.

According to a survey of 6,500 consumers commissioned by HelloWorld, a leading sales promotion and customer loyalty firm, 44%of consumers say they participate in promotions at least once a month.

The three key takeaways in the survey are;

1.) Offering numerous prizes and chances to win can drive more participation than one large prize. Offering numerous prizes of $500 can drive participation up by 50% compared to offering one $10,000 prize.

2.) Everyone likes having a chance to win, but most consumers make a quick mental calculation of effort versus reward. They don’t want to have to jump through hoops or engage in a lot of effort to enter. Make your contests as effortless as possible.

3.) The prize or prizes need to fit your image, and the needs of your demographic target. The most universally sought after prize is cash.

Successful contests don't just happen; they must be carefully planned and administered. First and foremost, you must have a clearly defined marketing objective.

All too often, we hear marketers say, "I want to give away a trip to Florida. Can you design a contest?" The real question should be "I want to achieve X marketing objective. Will a give-away or contest achieve it, and if so, how?" Ask yourself what you really hope to achieve from any type of promotion.