Who doesn’t like to win something? For generations, friendly competitions have been used in a way to generate a larger customer base, spread the word of the product or service you offer, as well as give something back to the loyal clients that keep your business afloat. In this article we will discuss some competition ideas, how to use the competition to market yourself and the benefits of collaboration when hosting a competition.
What kind of competitions can you host?
This does not have a direct or clear answer because the options are endless and you can really be creative here. Common competitions include prize or cash giveaways, free subscriptions for a certain time period and even education course and travel getaways. It really depends on what tools and platforms you have at your disposal as well as the budget you are able to allocate to this campaign.
When it comes to affiliate marketing, offering sought after rewards within the field of finance and trading can be a smart strategy to reach a targeted market and increase your affiliate sign-ups. For example, one could offer a $10 sign on bonus for the first $100 traded on their account. Alternatively, you could offer your referrals signals or education on trading.
Here is where collaboration comes in very handy.
Benefits of Collaborative Competition Marketing.
Collaboration is an extremely powerful marketing tool if you know how to use it and can screen potential partnerships to ensure quality control and trust throughout the process. You don’t want to partner with brands that reflect a different mission statement and business integrity to your own, this can ultimately bring down the reputation of your services and platforms.
However, should you find the right partner and host a strong and extensive competition, you could gain many new loyal followers and new sign-ups. It’s all about making smart choices according to the outcome you are hoping for and the target audience you want to reach. Ultimately, the exposure generated from a well-marketed competition can be beneficial to all parties involved.
Here is a list of possible platforms and channels to host your competition on (combining 2+ of these can be even more effective):
- Email campaign
- Flyers/Digital Banners
- Local shops/services
- Exchanges/Brokers/Financial Blogs
- Celebrity endorsed campaigns
- Airplane/Taxi/Bus/Train advertising
Each channel and competition type will come with their own pros and cons as well as their own requirements/costs. Choosing the right one depends on your intention, range, time, ability and, of course, your budget.
For more ideas on how to promote your affiliate links, visit us here. Alternatively, contact your dedicated manager with any questions you may have. Remember you have access to a marketing package of materials with logos, banners and flyers, all made to assist you in growing your unique data base of referrals.