A competition is a great way for small, medium and larger businesses to reach their target audience. The impact of the competition can also be strengthened by choosing branded promotional products as the prizes.
A competition has the ability to deliver a high ROI because it can introduce your brand to a new audience and create a buzz. If executed correctly a competition will increase audience engagement and sales. The prizes, along with branding are two factors which can help increase the impact of a successful competition.
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1. Create a profile of your target audience
It’s impossible to select a branded prize or design a successful competition until you know who you are aiming to engage with. Ultimately you won’t receive a high ROI if people enter the competition who are unlikely to buy or use your service.
2. Define your marketing objective
There are so many variables so you will need to decide if you want to use a competition to raise awareness and engagement, drive traffic to your website or boost your company’s reputation. Failure to identify this prior to launching a competition will affect its ROI.
3. Choose a branded prize relevant to your brand / business
A branded prize can be very powerful and make a real difference to the effectiveness of a competition. A carefully chosen branded prize which reflects your brand and ties in to an integrated marketing campaign will undoubtedly boost sales and improve your bottom line.
4. Publicise the competition in a relevant channel
Selecting a channel which is relevant to both your brand and your target audience is vital. In a world where we’re almost overloaded with information you will need to choose carefully to ensure your competition is discovered by your target audience.