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Cometitions Win Customers --Category Navigation--       Time Management (2)      Goal Setting (1)      Marketing (6)      Sales (4)      General (1)      Book Reviews (7)      Financial Management (2)

How To Win Customers With Competitions Every day that goes past without collecting customer contact details is leaving a massive hole in your profit bucket. Using competitions to generate lists of customers and prospects is one of the easiest and cost effective ways to quickly build your database. Usually done in conjunction with another business, although it can be done outside your store or through advertising. The main advantage is that you get to compile a list of names of people who are interested in your products. For example, if a kitchen maker runs a competition offering a free kitchen renovation, the chances are that the people who enter are in the market for a new kitchen.   After the competition, it’s best to write the people who didn’t win a letter telling them they haven’t won. Ideally, you should wait a little while before approaching them again, otherwise there may be a tendency on their part to think that the competition was a ‘con’. Of course, your competition prize could be something other than your product, but that will be less effective in attracting the right sort of people. The opposite also works, everyone wins a prize and that is the reason they need to be ready to meet you discuss going further.   A competition can also be a great way to get some extra publicity. Approach your local newspaper or radio station, and tell them that you’d like to run a competition with them. Explain to them that you’ll put up the prize if they promote the contest and of course your business. The advantage to them is an increased interest in their paper or station.   Competitions don’t have to be done with the sole idea of getting a database. You can also run competitions to create customer traffic, where people have to come in and enter. This can also be linked to a minimum purchase amount, where the customer gets to enter, only when they’ve spent a minimum amount. Run a competition where the prize is something that will be super-attractive to your target market. You can arrange the prize at an excellent price, or perhaps even free, as the other company will be getting advertising out of it. Of course, you can offer the prize yourself – for example, they could win the purchase free. The only way they can enter is if they buy TODAY.   Another way to increase your conversion rate through the running of a competition is to offer free entry to anybody who makes a minimum dollar purchase. If the prize has a high perceived value to the customer it can assist you in getting them to sign on the dotted line.    Mail your customers, and ask them to buy. If they do, you’ll automatically put them into the draw for something they’d dearly love to have.   This is excellent if customers buy regularly, yet have lots of different suppliers to choose from. A competition can put you in front.   The trick to competitions is to make the prize something exciting and rare, and to make the person believe that there is a reasonable chance they may win. It doesn’t have to be an expensive prize – just exciting. If you run competitions regularly, you'll always be the winner!

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