What Types of Prizes Should I Give Away in my Sweepstakes, Contest, and Instant Win Games?

Prizes are one of, if not the most, important incentives driving consumer engagement within your digital promotions.

It is arguably the oldest form of proven marketing– offer consumers something (in this case a chance to win a prize) in exchange for something from them: engagement.

You will want to make sure that you have the right prize strategy that balances your brand, your goals, and the type of promotion that you are running.

When thinking about your prizing, consider the following:

1. Who is your target demographic?The most compelling prizes for men ages 21 – 30 are much different from prizes for women ages 30-40. Understanding who you are targeting can help guide you in picking prizes that resonate with and excite the right audience.
2. What is your brand identity? What is your brand’s persona across your owned media? Are you bold and exciting? Do you aim to evoke a high-class or luxury look and feel? Keep this in mind and select prizes that help reinforce this image.
3. What is your budget for prizes? Consider your budget when deciding what and how many prizes to give away. Don’t just factor in the cost of the prize, but also taxes, handling, and shipping!
4. What type of promotion are you running? If you’re running a sweepstakes, a single big prize may be a great incentive; however, if you’re running an instant win game, consider putting together a prize pool that awards lots of smaller prizes, as well.

When it comes to navigating the intricate world of digital promotions and incentive programs, Realtime Media is here to help you every step of the way.If you want to learn more about prize planning and strategy, check out our comprehensive blog on prize trends and best practices for digital promotions.