What about free Competitions, Contests and Sweepstakes
Prize competitions: advantages and types
Nowadays it is very common to surf the web or read the email and find announcements of free competitions to win prizes, contests and sweepstakes. But, are these prize competitions all the same? Let’s discover them all!
The contests offer an advantage both for the company and for the people, in fact if on one hand they are a showcase for those who promote them, on the other the participants have fun taking part in a contest where the lucky winners will enjoy the benefits of the prizes to be won.
In the web market there are two distinct types of prizes: the competitions and sweepstakes, in which the awarding of prizes takes place randomly to one or more winners, and the prize operations or loyalty program, in which the purchase of one or more products is expected in exchange for a safe prize (see, for example, points collections).
Regarding the first category, there are free competitions and others that include a purchase or a payment.
There are various methods of extraction of the winners, ranging from the “immediate” (instant win) where you can immediately find out the outcome, to that to “periodic extraction” and “final”. In all the aforementioned cases, every winnings are communicated through the email address provided by the participant during the adhesion.
Prizes to be won: goods, services, discounts and coupons
All-inclusive trips to paradise destinations, cruises, airline tickets, extra-luxury hotel stays, valuable assets like smartphones, goblins, various types of home appliances, coupons or vouchers… these are just some of the many prizes to be won in a competition.
The amount and value of the prizes are established in the regulation and the sponsoring company can choose between dividing the prize pool into several prizes or a single prize.
The value of the established prize money varies according to the importance of the sponsoring company and, in case of important prizes, it is particularly difficult to be extracted due to the high number of interested participants!
The discussion is different for all the less known initiatives with less attractive prizes, which often turn out to be campaigns that reward and satisfy a large number of participants, thus gaining trust and new customers.
Thanks to the variety of types, the competitions spreading a lot among the big, medium and small businesses, boasting an increasing number of participants, who often create real communities useful to report or discuss active initiatives.
Prize competitions: scam or reality?
Are free competitions and contests always true? Find out how to recognize them.
How many times appears ads that invite you to participate in competitions with inviting prizes, but you hesitate to participate for fear of running into a scam?
If you are passionate internet users, you know very well that often not everything that we find in the web is true, on the contrary… all that glisters is not gold!
This is why it is important to recognize a real initiative that complies with the law.
Below you can read some basic clues to recognize the veracity of the prize competitions. These contests must submit a written regulation approved by the Ministry of economic development, that indicates precisely:
- the name of the competition;
- the promoter;
- the duration of the initiative;
- the territorial area;
- the amount of the prize and its commercial value;
- recipient subjects;
- the procedures for carrying out and extracting;
- any institution to which the unclaimed premiums will be allocated.
A competition presenting a page dedicated to the regulation is considered reliable. Moreover, having a clear and transparent communication, as well as an active participation able to respond to the doubts of the competitors, can contribute to obtaining reliability and developing a positive word of mouth.