Now that the world is beginning to get back to normal, companies are considering prizes to offer for their next sweepstakes or contest. But which will be the most attractive prizes? And how will they be delivered?

In this article, we’ll take a look at some of the most popular prize types and consider how they might change in a post-pandemic world. Stay tuned because we’ll also be giving you ideas for prizes that your business can offer.
The types of prizes most desired by winners have not changed, but how they want them delivered may have.

Prizes to Win Post-Pandemic: Travel Prizes

Travel prizes may look different post-pandemic. While individuals are eager to return to traveling, they may still prefer to be closer to home or avoid lengthy flights or destination cruises in the post-pandemic era. Then there are vaccine requirements to consider.

Travel experiences close to home may be your best bet for a post-pandemic sweepstakes prize. Alternatively, let your winners pick their vacation rather than give them a pre-defined package.

In any case, make sure your official rules include language indicating that you’ll be covered in the event of another pandemic-like situation in which travel is restricted or halted.

Instead of offering a trip to an exotic location, you might consider a staycation prize package that includes a weekend at a local hotel, dinner at a nice restaurant, and tickets to a nearby attraction.

Or, if your business is located in a popular tourist destination, you could offer a prize package that includes a stay at your hotel, tickets to local attractions, and a gift card for dining.

Services & Products as Sweepstakes Prizes

Services and product prizes may also look different post-pandemic. Instead of offering a day at the spa or a new car, you might consider offering a year-long subscription to a streaming service or a gift card for a popular retailer.

Another great concept is to provide your own company’s services or products as the Prize. When possible, we always recommend offering your product and/or services as the Prize to help attract your target customers as participants.

When it comes to promoting the sweepstakes, Make sure that your offer aligns with the pain points your customers have and show how you can provide solutions with your products as the Prize.

Events as a Sweepstakes Prize

In-person event prizes may also look different post-pandemic. Not everyone may want or can travel to a live performance or event.  Consider providing an alternate prize if the winner cannot attend the event. 

Instead of offering tickets to a concert or sporting event, you might consider offering a streaming subscription or a gift card to an online retailer.  

If the event Prize has covid protocols to follow, the protocols should be spelled out on the Official Rules.

Car Prizes

While formerly a daily commute was the norm, it is not always the case today. Many work-from-home couples may have gone from a two-car family to one.

Consider what sort of car prize your customers would desire most. Perhaps a sports car or a camping RV?

Ensure you have an accurate ARV for your car prize, as it plays a role in your Official Rules. 

Consumer Electronics as Prizes to Win

Consumer electronics have also been in high demand. Home gym equipment, home office electronics, or home entertainment systems, are among the most sought-after prizes. Consider your customer base when selecting what consumer electronics would be suited for them right now.

Conclusions

Things are returning to “normal” as vaccination rates rise and offices reopen. Businesses want things to return to normal. The kinds of prizes that customers desire may not have altered, but the form or method of delivery might have.

So, there you have it! Some ideas for prizes that your business can offer in a post-pandemic world. What do you think? What other prizes would you like to see companies provide? Let us know in the comments below or contact us for more prize ideas.
For more information on how Sweeppea can help you with your next sweepstakes, contact us at support@sweeppea.com or call us at 305-505-5393.

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Cash prizes are the most popular type of prize that people want to win. In this article, we’ll explore why cash prizes are so popular and why you should consider offering cash as a prize in your next sweepstakes!

When asked what prize they want, the majority of participants in sweepstakes and contests choose cash prizes. Why? Let’s dive in.

Cash is Easy to Spend

You can use cash to buy anything you want, without having to worry about whether or not the item is available in your area or if it meets any other restrictions.

With most rewards, the sponsor narrows down the possibilities or options for a prize, such as picking the make and model of the car given as a prize or arranging flights and hotels for a vacation. The winner of cash has flexibility in how they spend it and whether they go on a trip or use it for other items or necessities.

Cash Prize are Taxed the Same as All Other Prizes 

Prizes over $600 in the United States are taxed, and each Prize above $600 is accompanied by an IRS 1099 form. A portion of a cash Prize can be spent to pay taxes. Taxes due, depend on the personal income tax bracket the winner falls under. Winners will only pay taxes to the IRS.

Cash Prize Claims are Higher

Cash prizes are more likely to be won by someone who will use them than other kinds of prizes, such as automobiles or trips. This implies that cash rewards are more probable to be claimed by a person who will put them to good use!

Cash Prize Can Be Sent Faster

When physical rewards are delivered to winners, they may need a signature for delivery or require recipients to collect them and fulfillment might take weeks. Cash, on the other hand, can be sent quickly and simply.

Why Choose Cash Prize for Your Sweepstakes?

Cash is king! Offering a cash prize is an excellent method to attract a diverse range of persons to your sweepstakes and get people involved with your business. 

Here are a few benefits of offering cash prizes:

Fast Results

Offering money as a sweepstakes prize can help you go viral quickly if you want to create fast buzz for your business. Everyone wants to win free money, and there will be plenty of people to participate.

You Want to Attract a Lot of Potential Customers

Sweepstakes with cash prizes always attract participants. You can leverage a cash prize to gather first-party data and lower the cost of remarketing efforts. 

Cash Sweepstakes Tips

Before you begin your cash sweepstakes, keep in mind that only money can be won as a sweepstakes prize if you follow these rules:

Large cash awards encourage more people to enter

The amount of money you give away must be big enough that it’s worth the time for entrants to fill out your sweepstakes entry form. A bigger cash prize like $5,000 or $10,000 will be more appealing.

People must believe in your brand

People must have faith that your company will distribute the cash award and that the sweepstakes aren’t a hoax. Make sure that you have clear and concise official rules to help build trust with entrants that are not familiar with your brand. 

Registration and bonding

Sweepstakes with a prize pool of more than $5,000 must be registered and bonded in Florida, New York, and Rhode Island. These rules might require more time and money to implement for your sweepstakes to comply with all state and federal requirements.

Conclusion

If you’re thinking about offering a prize in your next sweepstakes or contest, cash prizes are a great option to consider! Not only do they generate more interest from consumers, but they’re also easier to give away and have a higher claim rate than other types of prizes. So why not try offering a cash prize today? You may be surprised at how popular it is!

For more information on how Sweeppea can help you with your next sweepstakes, contact us at support@sweeppea.com or call us at 305-505-5393.

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