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- Participants enter with the hope of winning prizes, and the best part? You don’t need to make a purchase or pay an entry fee.
myroomismyoffice.com › understanding-sweepstakes
Legal fees, prize costs, marketing expenses, technology, and software costs are all factors that must be considered when planning a sweepstakes. Let’s take a closer look at each of these costs to better understand the true cost of running a sweepstakes.
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- Advertise on Social Media
- Don’T Go For The Most Expensive Prize
- Ask Sweepstakes Sponsors to Pitch in
- Don’T Skip Out on Sweepstakes Administration
Brands can leverage the power of social media to help a sweepstakes promotion to go viral. By tapping into your existing following and that of the sweepstakes sponsors, you’ll be able to engage people on social media, have them sharing your contest or sweepstakes, and attract a pool of sweepstakes entrants who may later become customers.
When it comes to selecting sweepstakes prizes, don’t go for the prize that is more expensive than you can reasonably afford. Not only will your audience not acknowledge the extra expense of the prize, they may not even like the prize, especially if they don’t feel like there is a realistic chance of winning it.
If you plan to partner with another brand in order to run a sweepstakes or contest, the cost of the contest shouldn’t only fall on your company. Don’t be afraid to ask for help from your sweepstakes sponsors as it can definitely save your budget. Aside from money, sweepstakes sponsors can also help by sharing your promotion with their audiences and...
The customer experience is key to a successful sweepstakes or contest. As a result, you don’t want to leave any of the critical details, such as drafting official rules, making sure that your promotion follows sweepstakes laws, and prize delivery to chance. Hiring a sweepstakes management company like Sweeppea will ensure that all of these importan...
Jun 20, 2024 · A sweepstakes or giveaway is all about chance: after everyone has entered, a winner is chosen randomly. A contest is more than a random chance to win: each entrant has to demonstrate some sort of skill or talent and judges pick a winner based on pre-set criteria.
Jul 11, 2023 · Legal fees, prize costs, marketing expenses, technology, and software costs are all factors that must be considered when planning a sweepstakes. Let’s take a closer look at each of these...
Jul 26, 2022 · The costs of stamps, postcards, and other supplies can add up quickly, making it more expensive to enter. Although the odds of winning might be higher, the extra effort and money mail-in sweepstakes take limits the number of sweepstakes you can enter.
- Sandra Grauschopf
You don’t need to make a purchase or pay an entry fee. Unlike contests, which often demand a skill—like crafting an essay—sweepstakes select winners purely by chance. The history of the term “sweepstakes” takes us back to horse racing.
While the costs mentioned above provide a general estimate, it’s essential to remember that every sweepstakes is unique, and prices may vary accordingly. The total investment can range from a few thousand dollars to tens of thousands, depending on your specific requirements.
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