Three hidden benefits to running online contests or branded awards

If your company is considering running an online contest or award program, you’ve probably thought through the all the obvious reasons already. Most organizations use online contests as a way to reward loyal customers, to engage others and to increase their lead flow. With all the contests and awards that run on our platform, we’ve noticed a couple of other reasons that your organization might want to take a look at.

1. Additional revenue. Run contests, generate interest for enough entries, charge them a fee and all of the sudden, you’re making money! We think this works best for niche communities (think about writing contests) or industry awards. The entry fee can be small, or discounted for multiple entries, or it can be large, to cover the cost of running an awards program.

2. Extensive customer demographic information. It’s awkward trying to get demographic information from your customers. You really want it, they don’t want to give it, the resulting interaction can be painful! Instead, run an online contest and ask for the information you need within the contest entry form. Keep in mind that the effort must match the reward, so if your prizes are small, only ask for one or two pieces of information from your customers. If you plan it well, you may be able to go back over time and ask for additional information.

3. Valuable feedback from your customers. Crowdsourcing has been around for a few years now, but how do you get your crowd to participate? The best way to ask for participation is to offer up and incentive. Instead of asking your crowd to help you out with something, with the possibility of a reward, why not ask them to enter a contest? Be sure to include questions on the contest form that will answer your crowdsourcing needs, then analyze the information that comes back to you. What are you customers telling you?

As with all contests, you will want to put together a great marketing plan to get the word out. Also, consider trying a test contest out on fellow employees. Be sure to listen to their feedback. They will let you know if the entry form is too long, if they aren’t comfortable with the amount they are sharing and other helpful tips to ensure your contest is a success.

This entry was posted in Contests and tagged , , . Bookmark the permalink.

Comments are closed.