Following from yesterday’s idea about running a competition…the next aspect to decide is what you wish to offer the winner, e.g. a service, a product, an item, an ebook etc.
There are many considerations when planning your prize dependent on your business and situation, here is a sample:
- What you can afford to give away (in time and money)?
- How long a service would run for, how much of a product you wish to offer/ what size, etc.?
- What will you need from the winner?
- Are you restricting the competition to a region/country?
- If the prize is information based can your audience find the information freely elsewhere? If so, what is your USP?
- Is the prize worth the entry requirements for your audience?
- Will your audience want the prize?
Follow TFM 365 tomorrow for the next instalment – and don’t hesitate to add anything we’ve missed in the comments.