Business Contest Ideas
Business contests provide a way to create excitement and differentiate yourself. Making a marketing impact is challenging since, according to Eastern Michigan University, the average consumer is exposed to 5,000 messages a day. Contests create buzz and have a viral effect since those directly exposed to a good contest with tell others about it. Most contests are highly cost effective because of this viral characteristic.
Other People Are Reading
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Best Name
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If your company is launching a new product or service, have a contest where the person who comes up with the best name gets a valuable prize. In addition to exposing your company to the marketplace, best name contests start building brand recognition for the name right away.
Scholarships
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According to the website Startup Nation, giving away a free scholarship works well if your target market is the age group looking for scholarships or the parents of that group. Besides the promotional value of a contest, giving away a scholarship adds value to the perception of a company because the company is helping someone with their education.
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Public Good
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Another attention-getting, public service oriented concept is to give a cash reward to anyone who comes up with the most innovative idea to help the public. The money would help fund research and development of the idea. One example of this type of contest would be a "Best Green Idea" contest where a recycling company would fund the person who comes up with the best idea to improve the environment.
Seasonal
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Some contests tie into a calendar event or season of the year. A retail store might sponsor an Easter egg hunt and give a cash prize to whoever finds the gold Easter egg hidden amongst the others. Another seasonal approach is to tie in with special months such as National Barbecue month described by the National Barbecue Association website.
Free Giveaways
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Free giveaways are popular and usually involve a drawing for a prize. This is often used by retailers to drive traffic to their location. It is often promoted in advance of the event with advertising in local newspapers, on television and in radio commercials.
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References
Resources
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