Given a fixed budget, the main problem in structuring your prizes is to find the right balance between a small number (often just one) of high-value prizes, versus a large number of low-value prizes.

It’s important to note during your promotions planning that what you’re trying to impact is not the actual customer satisfaction or perceived value upon using the product. Instead you’re trying to impact the combination of the customer’s expected (or anticipated) value of the product and prize(s) together.

There are a number of factors to consider in our online promotion strategy that impact what sort of prize structure will be most enticing to your target audience. Two of the most critical are 1) whether you’re targeting current customers or non-customers, and 2) how risk tolerant your target audience is.

Risk Tolerance: It’s important to recognize in your promotions planning that your targets may be more or less risk tolerant. All else equal, a more risk tolerant audience will prefer a single high-value prize, and a risk averse audience will prefer many smaller-value prizes. As part of your overall online promotion strategy, it is important to balance the risk tolerance of your target(s) against the number of prizes you offer.

Coming up in Part 2… the #1 factor in determining your prize structure!

AlterSeekers is a brand promotions agency in New York focusing on promotions consulting New York and promotions planning New York, web strategy, social media strategy (including Facebook strategy), go to market strategy, internet consulting, online promotion strategy, and overall strategic planning.

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There are many different sites offered today and the key is picking ones that are legit. If you’re aim is really to make money only, then check out the site and see what rewards they have to offer as not all sites will pay you. Some may give you cash vouchers, discount cards, product coupons and trial runs on the latest products in the market. So check out the sites before signing up with them.

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Here are some points that can help you understand these factors better:

* Online advertising – the cycles: Not all days in online advertising are the same, activity wise. This is especially true for campaigns that are based on seasonal events. A Christmas-themed event that brought in truckloads of cash during the holidays will certainly die down once the holidays are over. On the other hand, a campaign that promotes products that are sold all year round will undoubtedly give more mileage, irrespective of the season. The revenue that advertisers share with you will obviously also vary with seasons. The advertisers will offer less percentage on sales in the off season, when the sales figures are quite low.

* Browsing cycles: This is another obvious trend. During holiday seasons, users often like to spend some quality time with their buddies and family, and less time using PCs. As such, the traffic to your websites in these seasons is supposed to be low. However, low traffic may also mean lower shares on the revenue earned.

* Static, non-optimized content: It does not matter if you optimized the content of your website last year. Trends of web browsing change with time, and that same content may need to be optimized differently this year, to ensure a steady flow of traffic to your website.

In order to avoid all these hassles, it is best to hire the services of a reputed third party organization to keep your website optimized and your eCPM high. One good example is AvenueSocial, which, by virtue of its skilled and experienced workforce, can keep your site active with a constant flow of traffic, all round the year. For more information visit us at http://www.avenuesocial.com

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