Start A Contest Marketing Business - Business Ideas

Pat Walls

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Updated: September 15th, 2022

Start A Contest Marketing Business

Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.

Starting a contest marketing business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell contest marketing, or selling contest marketing online, you can use this page as a guide for everything you'll need to know.

Key Stats

starting costs

$12.6K

gross margin

40%

avg product price

time to build

240 days

work from home?

Yes

Startup Costs

	Min Startup Costs	Max Startup Costs
Office Space Expenses	$0	$7,000
Employee & Freelancer Expenses	$150	$250
Website Costs	$223	$7,215
Business Formation Fees	$600	$4,700
Software Expenses	$162	$2,595
Advertising & Marketing Costs	$0	$3,300
Total Startup Costs	$1,135	$25,060

See all startup costs ➜

Successful Businesses

Business	URL	Rank
Venture Harbour	ventureharbour.com	30,216
Second Street	secondstreet.com	68,197
Wyng	wyng.com	100,952
Ygrene	ygrene.com	117,954
Quikly: Urgency Marketing Platform	quikly.com	168,638
Convert With Content	convertwithcontent.com	224,064
iCrowdMarketing	icrowdmarketing.com	235,349
Antavo	antavo.com	260,073
PFL	pfl.com	279,675
TabSite	tabsite.com	335,930
MarCom Awards – International Competition for Marketing and Communication Professionals	marcomawards.com	364,760

See all businesses ➜

Pros & Cons

Pros	Description
Flexibility	You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home	It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Rewarding work	Starting a contest marketing business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Scalable	With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
Traffic to your website	A contest marketing business gives people a reason to visit your website and to keep coming back to you!
Meaningful business connections	You never know who you will meet as a contest marketing business. This could be the start of an incredible business opportunity!

See all pros ➜

Cons	Description
Motivation of employees	If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
Low margins	The gross margins for your contest marketing business are typically around 40%, which can make it more challenging to incur new expenses and maintain profitability.
Stressful work	This line of work can be stressful for both you and your clients. This type of transaction is a significant financial decision for your client, so expectations are very high for you. Although this career path can be very rewarding, it also comes with its challenges and stressful moments.
Churn	In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.
Time commitment	With starting a contest marketing business, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.
Difficult to build trust with your customer	With starting a contest marketing business, there can be minimal face-to-face interaction, which means it can be a lot more difficult to establish trust with your customers. You'll need to go the extra mile with your customer to grab their attention and business.

See all cons ➜

Marketing Ideas

1

Word of mouth

Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.
Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.
According to Nielsen, 92% of people trust recommendations from friends and family.
Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.

Learn more about word of mouth ➜
2

Social Media Advertising

Social media advertising is the use of social media platforms to connect with your audience with the objective to build your brand, increase sales, and drive website traffic.
According to Oberlo, approximately 48% of the global population use social media, and the number is ever-growing.
Therefore, social media allows brands access to cost-effective advertising by enabling them to interact with a large audience.

Learn more about social media advertising ➜
3

Pay Per Click Advertising

Pay-per-click (PPC) is a performance-based marketing method that allows you to show specific ads for services or products oriented to a very defined target, with the goal that the user visits your website or landing page.

See all marketing ideas ➜

Key Stats

Startup Costs

Successful Businesses

30,216

68,197

100,952

117,954

168,638

224,064

235,349

260,073

279,675

335,930

364,760

Pros & Cons

Marketing Ideas

Word of mouth

Social Media Advertising

Pay Per Click Advertising