When you start your competition business, you might think that all a player could ever want is a grand prize, like a car. But this isn’t the case. Sure, a car is great, but that doesn’t mean your players aren’t also interested in other things, too. Sometimes other prizes, even those on the budget-friendly side, generate more excitement.
Team Zap is here to explain what other types of prizes make a great impression with your players.
Class is now in session! 👏
Cash prizes are one of, if not the, most popular prizes.
Winning a cash prize feels a lot like receiving a bonus from work. This extra money gives your players flexibility. It’s money they can use in any way they want, whether it’s to help them put a deposit down on a house, pay their utility bills, or treat friends to a fancy meal. It’s fully up to them. What a lovely prize to win!
On the other end of the spectrum is site credit. This one’s a bit of a mixed bag among players, and it depends on whether the player is a regular player of yours or not, as it’s money they can spend on your comp website only. It’s still money, just without the flexibility of a cash prize.
Cash really is king, it turns out.
Who doesn’t love a vacay, right? Or experiencing some fun new adventures?
The majority love this kinda stuff, but for some, ticking off new experiences or traveling someplace exciting is simply unaffordable.
But you can help make it more affordable through your online comps. You can help adventure-seeking players make their dreams come true, for no cost to them — which is what makes the prize so appealing!
Even if an all-inclusive holiday might be on the pricier side of things for you, happiness and a lifetime of memories is a wonderful gift to give to someone. But you won’t only have to supply them with serotonin. You’ll also have gained a loyal customer.
So, really, it’s a win for you both.
Most people enjoy tech. Especially the newest tech.
Think of that fact what you will, but it makes one thing clear: if your players like tech, that makes choosing your prizes much easier for you.
There’s loads of reasons why tech gadgets would make a great prize:
Another reason tech makes for an attractive prize is that, if, for some reason, the player doesn’t like the gadget they’ve won, they can just sell it on and make some easy money.
Collectibles look different nowadays. A market that once used to be focused on niche, personal pursuits has developed into a huge investment opportunity. In 2024, the collectibles market in the US alone was estimated at $306.4bn. Yeah, that’s huge.
It’s safe to say that with such growth in the market, there’ll be more and more players who’d love to own more valuable items.
Collectibles aren’t limited to rare art or cool coins anymore, either, but include toys (ever heard of labubus?), action figures, comics, trading cards, and even technology. Anything can be a collectible if you put your mind to it, and some — like the labubus — are even considered a luxury item now. It’s trendy and cool. Who wouldn’t want to own one?
Because of such high global interest in collectibles, the variety here can really work in your favour. Choose a high-value collectible (bonus points if it suits your niche), offer it as a prize, and see what happens! We guarantee that you’ll have generated lots of interest.
People love getting their hands on items that are trending — so, the things that everyone wants to own. Not owning the trendy item inspires a bit of that good ol’ FOMO, which motivates them to buy said item in the end.
Sometimes, these trendy items are expensive, like the Stanley cup (and even the labubu), making it unaffordable, thus harder to get, thus harder for the player to ‘fit in.’
This is where you come in.
Look up what the hottest item on the market is just now, and make that one of your prizes. Entering your competition for a chance to win it for free, or a small fee, is still better than spending £££ on it.
Your players are gonna love it.
We’re competition industry experts, after all. Partnering with us is for your and your business’ own good. We know our stuff, and we’re happy to share it with you.
Interested? Contact us today.
