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.
Want to learn more? You can check out our full guide on how to start a contest marketing business ➜
|Min Startup Costs||Max Startup Costs|
|Office Space Expenses||$35||$3,250|
|Employee & Freelancer Expenses||$0||$4,000|
|Equipment & Supply Expenses||$500||$5,000|
|Business Formation Fees||$600||$4,700|
|Advertising & Marketing Costs||$0||$3,300|
|Total Startup Costs||$1,517||$30,095|
|Kaggle: Your Machine Learning and Data Science Community||kaggle.com||#2,064|
|Quikly: Urgency Marketing Platform||quikly.com||#168,638|
|Award winning websites||webaward.org||#211,439|
|Convert With Content||convertwithcontent.com||#224,064|
|Logo Design by LogoTournament™||logotournament.com||#230,273|
|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!|
|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.|
The most tried and true way to grow a contest marketing business is through word of mouth - some entrepreneurs would say it's more important than all social media.
Social media advertising is one of the leading ways to get the word out when it comes to contest marketing business.
There are various different Social Media platforms available to you. Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you.
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.