Why Do Competitions Work For Businesses?

Why Do Competitions Work For Businesses?

Psychology is a funny thing. As humans, we go out, buy a lotto ticket for actual $$$ with a 1 in 100,000,000 chance of winning. 

Why? 

When it comes to competitions people are buying ‘possibility’. Not the actual win. 

It’s not logical it is emotional. 

The Prize Bar team have put together a few reasons for you on what actually works and why.

Creating a Competition is a go-to strategy to attract customers to a business or brand. It has a powerful marketing tool that requires participants to complete some sort of questions, challenge or skill.

Here are some of the benefits of a competition and how you should consider running a contest for your business.

Competition Builds Brand AwarenessA primary purpose of a competition is to attract interest to your company or brand and create a buzz in the marketplace. A business may raffle off major prize to give customers a feel-good moment and to contribute to word-of-mouth advertising as people tell others about the opportunity.

Competition Increases Subscribers –  Competition is a great tool to increase the sheer number of people who interact with your brand. It has been used to generate web-business fans in the form of Facebook and Twitter followers, LinkedIn connections and email subscribers.

Competition Increases Engagement – When a competition’s participant sign up, they fill out forms with their information and answers. Companies collect this for lead nurturing and to better promote their businesses or something else in the future. In addition to collecting data as part of the entry process, you can also learn a great deal from the interaction and conversation that takes place around your competition.

Competitions are Cost-Effective – Competitions are often relatively low cost, depending on the setup and prize but you can always get people to help.

Competition Increases Sales – Competition is a great way to convert your business leads into valuable customers

The benefits of competition are many when done properly and effectively. It is a quick and winning way to give your business a boost in terms of awareness and really connecting with your audience.

If you love the idea of creating a competition but don’t want to do the work, Prize Bar is a New Zealand company that helps you get all the benefits without doing all that donkey work.

Value In Getting Website Visitor’s Feedback

Value In Getting Website Visitor’s Feedback

At Prize Bar, we know the value of feedback. 

As a business that focuses on building technology for our customers. We like every business can get stuck in overthinking, building things that just don’t fit our customer’s needs and waste time and money in the process.

It Sucks!

When we started asking for feedback – it sped out production, helped us build features our customers actually wanted and made us move quicker.

It is how Prize Bar actually started. 

A good place to ask for lead or client feedback is on your website.

Getting your visitor’s feedback helps you identify and eliminate problems. People who complain about your products and services are actually helping you do a better job.

Make sure you ask for constructive criticism. Remember most people love giving you their opinion. It makes them feel valued.

Insightful feedback can help you improve or develop your products and services so you focus your resources on what your customers really want from you as a provider.

Knowing your clients’ questions or problems can lead you in the right direction, no matter the problem is. The results of your efforts will multiply if you can make leads or clients happy by answering their questions or solving their problems, then you’re more likely to get good referrals and boost conversions.

Prize Bar is launching an innovative strategy that allows you to ask a question and get your visitors feedback plus all the proven techniques to expand your audience and boost your customer conversion rate. And it’s all packaged up in a visually attractive, ‘plug and play’ tool that does all the hard work for you.

Ready to get started?

Check out our website, give the Prize Bar demo a test drive and sign up today! We promise you happy customers and an improvement in your digital marketing success.

Why Competitions Work To Increase Leads?

Why Competitions Work To Increase Leads?

Running a competition is a popular method used by different companies to attract customers, generate interest and increase conversion rate.

The customers would be happiest when they are getting a chance to get a free item from a competition. 

Why competitions work to increase leads?

Competitions attract your audience’s attention and interest.
An active competition makes your audience more active and makes people pay more attention.

Competitions give a positive feeling of excitement.
One of the major benefits of competition is that it makes people excited about the thought of winning something. It creates an environment that taps into people’s strong desire to win. 

Competitions inspire virality.
The benefits of competition lies in the fact that people are more accepting and more engaging if it becomes a social norm. Your audience is obsessed with the experience. If your contest is fun and exciting, they’ll want to share that experience with their friends, improving your chances of going viral. 

Competitions boost online engagement.
People now look for deeper connections online and contests inspire your audience to make the first move, reach out and interact with your brand. Every time someone engages with you on social media, it leaves a footprint which is visible for all their friends or followers to see, thus extending your reach.

Competitions boost loyalty and increase conversion.
The great thing about giveaways is that because such a great prize is on offer, it helps to increase the number of people who interact with your business and incentivise a deeper connection with your brand. The contest participants and the winners are likely to become a loyal customer even after they’ve participated in the contest or claimed their prize.

Competitions can build your email list.
If you convince your audience that they’re getting a prize for giving you their personal information or email address as part of the entry process, they’re much more likely to comply.

Competitions create an opportunity.
It’s a great opportunity to ask questions such as how people heard about your business or what their favourite product of yours is. With their email address and answer, you will be able to tailor and personalise future communications far more effectively. 

Contests provide an interactive way of engaging your audience, collecting leads and increasing your digital presence.

PrizeBar is launching an innovative competition strategy that combines all of the proven techniques to expand your audience and boost your customer conversion rate. And it’s all packaged up in a visually attractive, ‘plug and play’ tool that does all the hard work for you.

 Check out our website, give the PrizeBar demo a test drive and sign up today! We promise you happy customers and an improvement in your digital marketing success.

 

Increase Website Conversions Without Rebuilding Your Website

Increase Website Conversions Without Rebuilding Your Website

Have you ever looked at your website report and wondered how you can have so many visitors, but so few sales?

It’s frustrating right? After all, you spent good money on a flash looking website that, to be honest, you’re proud of. So what’s going wrong?

Often, when we are looking for success measures, we spend a lot of time looking at the number of people who have visited our website. Whilst getting traffic to your website is a great first step, it doesn’t do anything for your bottom line if those visitors are simply looking and leaving.

To grow your business you need to convert browsers into customers by attracting and forming genuine connections with the right audience. A conversion could be sale, a sign-up to an email or lead magnet, or even someone calling you for more information. Whatever the conversion you’re after, your conversion rate is one of your most important metrics for understanding your visitors’ needs and how best to guide your potential customers (and you!) towards success.

Prize Bar Example

So, how can you convert more website visitors into engaging customers?

Traditionally, conversion optimisation has required businesses to make changes or improvements to their websites, which of course requires time, effort, and money.

But what if you could improve your conversion rates without changing your web content? We’ve got good news for you – you can! Here are some smart and simple ways to convert more customers:

Competitions: We all love a freebie and competitions are a great way to increase the number of people who interact with your business and incentivise a deeper connection with your brand. Competitions are also a rich source of data as many people are prepared to share information in exchange for the chance to win a prize.

Ask a question: Learn more about your website visitors by asking them an easy-to-answer, but pertinent question which you can use as a conversation starter when you connect.

Ask for social shares: Social media is an extremely important tool in any business’ marketing strategy. It is a great platform for sharing updates, promotions or new launches and gets any promotion you run in front of a larger referral audience by showing up in your networks’ feeds.

Get Prize Bar

Want all this done for you at a price you can’t refuse?

Prize Bar is launching an innovative strategy that combines all of these proven techniques to expand your audience and boost your customer conversion rate. And it’s all packaged up in a visually attractive, ‘plug and play’ tool that does all the hard work for you.

Check out our website, give the Prize Bar demo a test drive and sign up today! We promise you happy customers and an improvement in your digital marketing success.