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How do you guys monetize online contests?

Discussion in 'Making Money' started by SebastianG, Dec 13, 2012.

  1. SebastianG

    SebastianG Junior Member

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    I'm currently brainstorming to set up a basic project (you can check my journey thread, don't want to write that here)

    I notice that I have a traffic source which doesn't have the power to buy, neither a habit to do so. Their common denominator makes them perfect for online contests. They'd convert best.

    In this light I wanted to ask you guys how do you convert online contests into money? I don't want exact ideas, magic spells, someone to work for me or someone to fill my wallet. I just want to form a better understanding and idea around the subject, consult, study, research!

    Thank you, I'll be searching around or more info and post it here aswell.
     
  2. TayaX

    TayaX Elite Member

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    I have the same problem with a half million french people
     
  3. donskie

    donskie Newbie

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    me too..
     
  4. SebastianG

    SebastianG Junior Member

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    So there's no generic method of monetizing this? hmm, I'll look into it then.
     
  5. InternetMaster

    InternetMaster Junior Member

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    Pay Per Click, Adsense, etc
     
  6. THUNDERELVI

    THUNDERELVI Elite Member

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    Depending on where your traffic comes from and the demographics, I may have the perfect method for you to monetize your visitors. And basically it can not be saturated, because it can be used anywhere on the world, so I'm willing to help you :) Drop me a PM with your Skype when u have time!
     
  7. DrClaw

    DrClaw Registered Member

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    Just an idea...What about creating a contest where they have to fill out a survey or their demographic/email info for an entry? You can get money for the surveys and if you capture demographic info + email you have a nice little email list to use or sell. If they cant purchase right now, maybe down the road they will be a valuable lead.
     
  8. aftershock2020

    aftershock2020 Senior Member

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    This is a very interesting topic to me, as I run these style campaigns all of the time.

    It is as simple as knowing your list. Know who they are and what they are about, their interests, what they were searching for when they found your contest, list, etc.

    Then, offer them something within the contest as a prize that they want to get for their efforts. Offer a grand prize drawing that is only notified through email, so that you will not only be able to get them into the drawing or survey for the moment of getting the instant freebie for signing up but you will have them voluntarily opt-in from the very beginning, allowing you to send them offers based on the information you collect from the survey and providing that solution to that market.

    It is a round-about way of simply going foundational:

    1. target traffic.

    2. find out what they want to know and buy.

    3. create or affiliate a product or service that provides that to them.

    Hope this helps.
     
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  9. SebastianG

    SebastianG Junior Member

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    Thank you, that is all very useful information but let me be more specific, here's the whole story as I see no need of keeping it confidential.

    A few years ago I had a project, I made a website and had animations posted on youtube (animations manually created by me) during the years, these animations took off. Now they all have together (4 episodes) about 150.000-200.000 views and receiving at least 5000 views/month AT LEAST. The problem is: these are all poorly made, animated romanian jokes, in romanian. (I also have demographics on the videos)

    They are mostly kids from Romania with no buying power whatsoever (Kids don't yell at their parents to buy them shiny things here, they just get spanked and move on) so, the obvious way of monetizing it was posting Contest annotations and links.

    Now getting money from those contests is a little bit harder, I could spin it around to make them want/need something that can be locked with CPA ads, but there aren't many CPA ads for romanian public and it wouldn't make much thing, it would be simply annoying.

    What I'm considering now (on top of all the things you guys posted here) is getting them to like things on facebook, but I'm fairly new to the business and unsure how stable this would be, so, I'm considering how to monetize everything further from those facebook likes.

    Now I'm not over-evaluating this, I'm perfectly aware that all I have is a plain traffic source, it's barely the start to a marketing strategy. I hope all this sheds some light on my situation.
     
  10. aftershock2020

    aftershock2020 Senior Member

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    Ah, I get what you are needing now...

    1. With a joke video, the content isn't directed for marketing to the people. You can change that by posting more targeted content in the mix by adding those videos to ' JOKE ' themed community sites, where adults actually hang out.

    2. Focus on the source here. If these people are kids and are primed for the jokes, get them on a newsletter email list, where you send them your top ten of the week, etc...if the same clips maintain the top ten slots, then it is just like music listings and 100% acceptable.

    Within that email newsletter, you link to the video on your youtube channel and put in ad clicks from sponsors and tell them about the product.

    Target it for your audience, just like television does...if it is kids watching, have that video offer kid affiliate services like game site, video games, toys, etc...

    If they are adult oriented, like traffic from a joke of the day community, push for it to go with appropriate themed offers there...

    Hope this makes sense and helps.
     
  11. MatthewWoodward

    MatthewWoodward Senior Member

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    It all depends on what the goals of the competition are, who say monetizing is the right thing to do?

    Whats the point of the competition? To build a list, to engage people with your brand ?

    Different goals require different approaches
     
  12. Reyone

    Reyone Elite Member

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    ...
    Make them opt in...
    Get their emails...
    Create a good biweekly newsletter...
    Make mad filthy money...
     
  13. SebastianG

    SebastianG Junior Member

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    @ Matthew

    I understand what you mean, that would be when you create the contest as a third-party platform to sustain a different project. In this case, I have a trafic source that needs to be monetized. The audience from that traffic source would not convert or even respond to any advertising, except contests. I have an audience that will join contests. Now the issue is, what kind of contest should I make for them to generate $$, I forgot to mention one thing, I'm not looking for sustainable income, I'm gathering capital to start bigger businesses, but right now, I have about 40$ that I can spend :) taking it one step at a time.

    @Reyone

    That would work in most cases, unless the audience has no buying power at all. then it becomes useless. sending a bunch of mails to 15 years old kids that spend their days looking at poorly made animations of bad jokes on the internet isn't going to make any money.

    The ideas are pretty good, maybe I could try it with a completely different traffic source, Thank You all.

    For now I'm considering using it as a third-party source to sustain facebook likes or other websites for other projects. That's sort of plan B in case I don't dig up a plan A.
     
  14. therage

    therage Senior Member

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    If the traffic HAS NO POWER OR MONEY to buy move on. If you CAN'T find advertisers willing for the niche then move on. It is a waste of time and resources to target ppl that can't buy or have no power (authority) to buy. That is like directly selling candy to babies, you will NOT get rich unless they can buy and have the power to buy.
     
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  15. SebastianG

    SebastianG Junior Member

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    I see, well, when you put it like that, it becomes quite obvious. I'll just move on and keep the traffic source for boosting reasons.

    Thanks for all the replies, I appreciate it

     
  16. SlappinDaBees

    SlappinDaBees Regular Member

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    I agree with the fact that it depends on your type of traffic and audience. I've got a travel website (hotel reviews, journey stories, guides, etc.) with +1k daily visitors. I did a photo contest to win a day trip to London; they had like the facebook page, recommend the website to others and submit their photo through email (to build my list)
    Got 4000 people participating within 6 days :D

    Now, I also have a website in the health niche (diseases, symptoms, treatments, etc.) with about the same amount of visitors. I also did a contest on that website to win a vitimine/food supplements kit but barely got 50 people.. Looking at it now I was kinda dumb for even trying it in such a niche. Just to show you the difference in visitors.
     
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  17. eh54nh

    eh54nh Newbie

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    you could try content locking