Know your competition players

Why do we feel the need to enter competitions? Well frankly it’s a good job we do, otherwise thousands of marketing managers around the world would be struggling to find something to make their offering stand out, and how to make use of their marketing budget. So why are competitions such an important part of the marketing promotional tool box and what do we need to think about in planning them. Well to start off the question you really need to ask is what are you trying to achieve with the competition. The single most important factor for any business to be successful is to know who there customers are, and have a clear understanding of what their problems are. Then, and only then can they be persuaded and then keep them coming back for your solution. There is simply no other way that gives you the opportunity to then up-sell and resell by building a relationship, don’t associate your with solving the problem they have. Whether this may be getting their clothes whiter than white, or salving their worries about hygiene with the effectiveness of a germ killer or looking great down the pub. The competition, if it is going to strike any resonance really has to be at least partly relevant to that problem that the product or service you are offering would . Offering the prize of an Ipad , for example in helping the promotion of washing liquid isn’t going to have the same effect as offering the prize of a new kitchen say. The number one reason that competitions are used, to use the opportunity reinforce the brand and its values, could be lost. For many marketing managers though the aim is merely to capture useful data, obtaining the details client contact detail is hugely valuable. Whether this be their mailing address or email addresses it gives marketer a secondary method to communicate further and build a relationship, that may push them slowly towards the tipping point of choosing your solution. Confronted with two almost identically priced items on the supermarket shelf, if one has a perceived added value as it gives the potential to gain further value through the chance of winning a competition, which one is the customer likely to choose? However, again we have to be careful because if that prize presents any form of inconsistency in the brand message it can produce some measure of mistrust, and even a slightly negative perception can undo all the good work which the product and marketing manager has carefully planned to build credibility. So choosing a competition prize is not quite so simple or as straightforward as we may think.