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Sweepstakes Prizes: Why Bigger Isn’t Always Better

When it comes to sweepstakes prizes, you may be tempted to try to exceed expectations. After all, who wouldn’t want to win a crazy awesome prize?

But as it turns out, a recent study found that going all out isn’t want people really want or need from your brand.

Here are 3 reasons why bigger isn’t always better when it comes to sweepstakes prizes.

Customers Don’t Want the Burden of a Huge Prize

Before you select a sweepstakes prize, consider how it will affect your sweepstakes winners.

Will they have to pay a tax bill in order to claim it?

Will it require them to rearrange their schedules or travel in order to enjoy it?

If a prize is too expensive or too difficult to claim, your participants are more likely to decline it. Worse, they might not even enter the sweepstakes in the first place.

In fact, when consumers were asked if they were more likely to enter for a prize of $100,000 versus $10,000, the larger prize only gained 5% more responses, according to a study by Hello World.

Bigger Prizes Take More Effort

Most consumers think if there is a huge prize being offered, it’ll be harder to win as well as claim.

So while people enjoy the possibility of winning a big prize, they don’t want to expend a lot of effort to win it or to claim it.

Free products or services under $1,000 are considered more attainable. Combine this with a high odds of winning and your fans are more likely to enter with the hope of really winning.

Sweepstakes Prizes Should Be Highly Targeted 

Before you put your next sweepstakes into action, also consider whether the prize you’ve selected is the best option for your audience.

Is it relevant to your brand? Does it appeal to your audience and their demographics (income, age, etc.)? It’s not as simple as picking the biggest or trendiest product. And putting a little thought into this can really boost the outcome.

By selecting the right sweepstakes prize, you can maximize the success of your promotion and ensure your winners are truly satisfied.

Ready to set up an SMS sweepstakes? Reserve Your Sweepskey now to get started in under 10 minutes.