Why Contests are Important for your Business

By February 22, 2016Outstanding Marketing

The world of business has always been competitive, but when companies bring their customers into the competition by adding contests, we wonder what are they thinking? No one ever wins them, right? The truth is that contests are a great way to promote your business and it’s important to understand why.

Why are Contests Important? What are Some Good Contest Ideas?

Contests are a very effective marketing tool that can not only make the customer happy but can make you, the business owner, happy as well. This is because contests can generate serious profit for a company by providing customers with another reason to invest in your product. According to a study conducted by Ipsos, a market-research firm, 52% of customers are more likely to stay loyal to companies that offer contests.

A contest is also important because it allows a business owner to gain some insight as to how their potential customers think. This can help with advertising. Contests also allow a business owner to engage their audiences through surveys and through their emails. This is very important for any business.

But what are some good ideas for a contest? Travel incentives, furniture, jewelry, gift cards, etc., are some great prize ideas. You can also reward your loyal customers by offering them something for free when they’ve reached a specific number of purchases. Another great option is giving your customers the opportunity to get creative. They can create an ad for your company in photos, recipes, essays, etc., and allows you to skip paying an ad agency.

Contests, however, shouldn’t just be offered to your customers but to your employees as well.  If your employees are happy at work, their performance will improve, which results in better customer service. One great way to enhance your employee’s performance is by offering a prize to the employee who locks in the most sales at the end of the day.

How to Develop your Contest Idea

Contest ideas are a great marketing strategy, but it’s important that you develop them correctly.

The first step is to begin with the end in mind; understand what you want to accomplish with this contest idea that you’re formulating. Then develop a strategy to implement this idea. Social media is a great way to promote your contest. People share everything on social media and refer their friends to a number of different things. It is, however, important to know which social media site you want to post to. Research which social media site the demographic you’re aiming for uses the most. There are many social media sites out there. Don’t post to the wrong one.

With that being said, the third and final step is to make sure you keep track of your data and your success. If a particular website isn’t working or gaining as much traffic as it should, you’ll know this and will hopefully avoid posting to it in the future.

Why Odenza?

As mentioned previously, travel incentives are a great contest idea. Odenza is a great resource for travel incentive prizes, or marketing in general. We offer free marketing support every step of the way. We believe communication is key and that if you succeed, we succeed.

About Odenza

Odenza has delivered 3420 promotions in the last 3 years with 1140 clients in 43 industries throughout North America. Odenza is a three-time recipient of Carnival Cruise Lines' "Pinnacle Club" award for sales excellence and a member of Funjet Vacations "500 Club" of travel agencies. Odenza was recognized for providing superior customer service, demonstrating expertise in Funjet vacation destinations and ensuring that customers receive the best vacation value available.