Selling More by Giving Things Away

Marketing is a quest to convince the customer to buy your product. It takes time and money to promote your products and services. In this article we take a look at internet marketing through a prize contest.

With advertising through traditional media like newspapers, magazines, radio and television you can send your message into the world in the hope that it will land by someone who is interested in your product or service. The reach of this type of media relatively large, but because you are also paying for customers who are not interested in your product, it is normally also coming with a big price tag.

The internet has given us a marketing channel where you can be more selective with your advertising to reach a specific target audience. Another plus is that you can measure your marketing activities much easier. But there is still one crucial thing that is not solved; how do you convince the customer to buy your product?

Winning and the ‘want to have factor’
Ask yourself this question: Where will the public be more sensitive for; A business who tells enthusiastic about a product in the hope they will sell more or a business that is giving away products in a prize contest for brand awareness (and of course the result is, more sales in the end.) I think it is the latter.

With price contest preconditions like money doesn’t to the potential customers. In their memory they are already on that holiday destination, they already have won that coupon or already have that gadget in their pocket. With a good price contest people will think more about the prices that they could win, then about the change of not winning the contest. This is why a price contest around a product is more interesting then an ad.

The goal of price contests
Price contest marketing has several benefits. We already mentioned spreading the message to make the brand, product or service known with the general public.

Because people like winning things, you can more easily make people aware of your products with price contests. With links, banners, offline and online advertisement you will get more response with a price contest then with ‘normal’ advertisement. If the prices are right a good price contest will generate a buzz. This has the benefit that people are talking about the contest, thus talking about your product. Another advantage of a buzz is that people will link to the contests web page. (Getting your business site those wanted higher rankings.) Also the announcement of the winners of the contest will create free publicity.

Another plus of a price contest as marketing strategy is that you can collect information about the contenders. You can ask for their e-mail address for instance. This way you can send follow-up e-mails about your products (of course in the hope that you generate more sales.) But you have to make sure that you mention it in the price contest terms and that people can get easily of the e-mail list.

Setting up a price contest
You can organize a price contest in several ways. The thing that they have in common is that you have to have a page where you have a form where people can enter the contest and a page where you mention the prices which people can win. You can promote your contest in different ways:

  • Of course you mention it on your website.
  • You should mention it on forums.
  • Write some articles about it and ask different webmasters if they can post it on their website or blog.
  • You can do a small advertising campaign with Google AdWords for instance.
  • A press release.
  • Mention it on social media websites.

These are just a few ways you can use to get the buzz going, so that it goes viral.

A last thing before we end this article is that you have to make sure that the prices reflect the target audience of your website. For example: if you have a travel agency you can give away some trips to amusement parks. Or if you sell computer parts, you should also give away computer parts as prices.

Try to setup your own price contest and let us know the results! We hope that it will boost your traffic and your sales. You will see that a price contest is a powerful internet marketing tool!

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