The power of prizes
Who is this for?
- Anyone who wants to empower and educate clients,
- to surprise, excite and reward them,
- organize their first prize pool, or a bigger prize pool, and to
- discover the worst prizes I ever had, which Challenges commonly use, and why.
It’s also for anyone who is not convinced that their Challenges need prizes, that because they wouldn’t be motivated by them, they wouldn’t motivate others or think prizes are inherently ‘bad’ or serving only as extrinsic motivators.
Benefits of prizes
- Prizes nudge people into taking action. Anyone who has entered any sort of competition will know this. It may not be the sole reason for entering something like a Challenge or a race, or going harder at those things, but for many people, prizes can add a motivational layer. When there are lots of prizes, or ones that highly desirable, even more people’s ears will prick up.
- Prizes make for a fabulous talking point which means easy, low cost, marketing. Having prizes that a tad unique, luxurious or that have a social sway to them can increase the talk factor, for example: –
- ‘Unique’ like winning a private lesson with a ‘famous’ stripper/cook/dancer, an abseil off the top of a building, a helicopter ride over glaciers, an item signed by a ‘star’.
- ‘Luxurious’ like a meal at a great restaurant, a trip to somewhere dreamy, a makeover/professional photoshoot.
- ‘Social sway’ are ones which give those who receive them eligibility to do something ‘special’ together, as a group, with other winners, like go on a retreat, participate in a race, or wear a particular VIP shirt.
3. Prizes dished out at the start of a Challenge can help some people to overcome barriers of doing the activities required by a Challenge. A cooking challenge for example may give out new cookware as prizes, a gym-based challenge may give out memberships that would see people out for the duration of the challenge, and a couch to 5km challenge, vouchers with a local shoe shop or gait assessments with the local podiatrist may be up for grabs. Read how we did this with fitness clothing and gym memberships here.
4. Prizes provide us with the opportunity to expose entrants to useful products, services, and activities that they may not otherwise pay much attention to.
I had a bunch of Shakti mats, heart rate monitors, healthy recipe books, and a few bikes, all of which were prizes at the end of Challenges but which were also available for entrants to share during the course of the them. They proved popular, with some people purchasing them after getting to play with them, recognising how much they enjoyed them or helpful they were. Other prizes such as self defence courses, dance lessons, sessions with dietitians, mental conditioning coaches and massage therapists, vouchers for triathlons, ziplining, climbing walls and archery, introduced many winners to new services and which went on to help them with their health and fitness goals.
5. Prizes mean we can have sponsors and sponsors help our brand and credibility. They gives us tons of excuses for more promotions, more excitement and access to a bigger database. It also means we get to support great businesses, often in our local community and owned by friends, who are doing great things. See the essential guide to sponsorship her for more details about all the bonuses of having sponsors.
6.Prizes acknowledge people’s efforts, but to do that well, so more people stay on board and cross the finish line of our Challenges, they need to be weaved through in creative ways, acknowledging far more than just the winners.
Read the full article to discover
- The many stages of a challenge to give out prizes if you want more people to sign up, cross the finish line successfully, and jump on board with your next challenges.
- Starting out. Easy, no and low cost ways to pull together prizes.
- What prizes work best to reward people, motivate them and have them raving to their buddies about your challenge.
- What type of prizes are worst.
- How and why to grow your prize pool.