Consumers prefer to enter contests and sweepstakes in which the prizes don’t require lot of effort from the winners, according to recent research from HelloWorld.
The report was based on data from a survey of 6,200 people age 18 and older, with the biggest group falling in the 45-60 age bracket. Some 44% of those surveyed say they participate in promotions at least once a month.
Respondents' favorite prizes include cash (ranked number one), open airline tickets, retailer gift cards, and physical products.
Prizes with few strings attached, such as a broad "ultimate shopping trip," are significantly favored over more effort-intensive options such as a new car lease or exclusive event attendance.
Some 54% of respondents say they would likely participate in a promotion with a $10 prize, and 72% would do so for a chance at a $25 prize. Increasing the prize value beyond $25 only brings marginal increases in participation.
About the research: The report was based on data from a survey of 6,200 people age 18 and older, with the biggest group falling in the 45-60 age bracket. Some 44% of those surveyed say they participate in promotions at least once a month.
