As the internet increases business/consumer interaction, traditional media dollars are at a plateau, while promotional strategies continue to rocket skyward.
Austin, TX (PRWEB) February 13, 2013
Study Breaks College Media has joined forces with Matt Coen, President and Co-founder of SecondStreet, and urges all business owners looking to expand their brand to get active in their marketing and grow an email database through well-planned contests, as in a social media driven world, growth is built best on promotion. As the internet increases business/consumer interaction, traditional media dollars are at a plateau, while promotional strategies continue to rocket skyward.
The promotional strategy can be broken down into three stages: building a team, choosing a promotion (and the details that go with it) and developing newfound interest into revenue.
Building a Team
- Having the essentials such as a Facebook, Twitter, and website
- Using Facebook or an outside strategy to grow an email database
- Having a task force dedicated to promoting the contest itself
Choosing a Promotion
Many factors go into choosing a promotion, and a good place to start is with environmental forces (time of year, target user demographics, promotional niche market) and choosing a contest that will be broad enough to generate user input that might not have previously existed, without diminishing the companies core values. Once a promotion is generally decided, the next step is deciding how long to run it (shorter time might be seen as more exclusive, but one would lose in overall viewers) and what prizes the company could use to entice users.
How to Monetize Contests
One of the main things businesses should consider when looking to capitalize on their contest is to run it through as many forms of media as possible. As a business, success lies in either the system database, or potential users of the product or service. Relying strictly on Facebook or Twitter to run a promotion, although marginally effective, still limits the database strictly through the users of those sites. A contest-savvy business runs a traditional advertisement, and then drives readers to their digital media preferences on every level (smartphone/laptop/tablet).
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