These days, most business owners are constantly looking to grow their online presence. Social media/Google/email marketing are effective forms of online promoting, but still remain somewhat limit to marketing to those already stored as friends/followers/email addresses (with the exception of being highly ranked on Google.) So how does one market to new users using the same tools? One answer could come in the form of a contest. A well-run contest uses promotional techniques to entice new users into participation, which is a crucial attribute in the development of a healthy consumer/producer online relationship.
The promotional strategy process generally breaks down into three stages: building a team, choosing a promotion (and the details that go with it) and developing newfound interest into revenue.
Building a Team
- Having the essentials such as a Facebook, Twitter, and website
- Using Facebook or an outside strategy to grow an email database
- Having a task force dedicated to promoting the contest itself
Choosing a Promotion
Many factors go into choosing a worthwhile promotion. Most contest strategist start with their environmental forces (time of year, target user demographics, promotional niche market) and look to run a contest that will be broad enough to generate user input that might not have previously existed (without diminishing the company’s core values). Once an actual promotion is decided upon, the next step would be deciding how long to run it (a shorter time might be seen as more exclusive, but one would lose in overall viewers), and what price discount/prize the company could use to entice users.
How to Monetize contests
One of the main things business owners need to consider when looking to capitalize on their contests, is runningit through as many forms of media as possible. As a business, one’s success lies in a growth of either a system database or potential users of a product/service. Contest-savvy businesses (if possible) should look to employ a third-party form of traditional media to grow their audience, and then push new users towards their various new-media platforms (smartphone/laptop/tablet). Remember, all growth leads to more. A small advertising premium could be the investment needed to build one’s promotion to a level of reach previously unmatched. If one doesn’t have the means to acquire advertising services, the discount/prize offered must be heavily considered (as that remains the main driving point).