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Competition Website Marketing & Profit Management

Ryan Hull March 28, 2022 188 Views Belfast Northern Ireland

So you have your website, but you don't have any experience in running an online business or growing a healthy user base for your competition website? Well hopefully in this blow and subsequent video I can help guide you on your way.

Why Competition Websites Fail | Youtube Video

Getting Started

Like many things in life the hardest part is almost always getting started. This is usually down to lack of experience in the business but here is what I have seen to be the best ways of getting started without spending a complete fortune on marketing.

  1. Get your friends and family on board. If you can't sell your tickets to them, how can you expect a stranger to be interested.
  2. Standing out or putting a face to a company can really instill trust in what you are selling, so don't be afraid to put yourself on camera.
  3. Make sure it's an enticing proposition. In this stage of your business it's better to get as many new customers through the door and break even than to try and rip them off with high ticket sales.
  4. Returning customers are the lifeblood of competition websites. They are the easiest to convert and cheapest to market to.
  5. Growing your customer base is everything you need to be focusing on over everything else, not profit, not changing the website, just focus on new customers.

Keeping Customers

Keeping your customers coming back every time you have a new competition can be done ina few different ways, one is to have a schedule you never change from. Youtube a few years ago released a guide on how to retain users and keep them watching, competition websites are no different and having a schedule you stick to means that customers don't have to rely on social media updates to let them know when something is happening.

  1. Create a schedule for competitions ending and when the draw will be and repeat.
  2. Offer early bird discounts and coupons to users on your email marketing lists to keep loyal customers happy.

Maximising profit

Maximising your competition profit once you have a healthy customer base and data to look back on should be your next move. Consistency is key so large movements in how much profit is attempted to be generated from each competition cannot be made without possibly putting loyal customers off.

  1. Find a percentage profit that you are happy with and that your customers are happy with as a base level to how your competition runs.
  2. As time goes on and you have multiple competitions run, you can start to alter the profit margin and see how that affects sales.
  3. Once you find the sweet spot, keep your profit there and focus on doing more competitions to increase your profits rather than increasing the money generated from each competition.
  4. Do not discount your competition on the final day. The majority of tickets sold will be within the last few hours before the competition draw. This is the time for maximising revenue for people with fomo and no patience to wait and enter early.

Social Media

Social media can be a great way to get new customers, but i dont believe its the best way to get started. Usually pages with little to no history, followers or engagement can be buried in a sea of content. I believe all competition sites should have social media but i don't believe that it's the main driver of new customers.

  1. Social media is the easiest way to put yourself out there, but that also means its the easiest for everyone else. Leading to overcrowding.
  2. I believe that marketing is an amplification of what is already going on in your business, if it's going well and you already have high engagement and user base, paid advertising can help grow that even further. You have trust and history to your name and new customers won't feel like they are the first to try. This is why previously I said to get your friends and family in first.
  3. Try the “harder” social media platforms to grow your business, namely ones involving video. This means less competition but more work.
  4. Bypass all of this by partnering with a creator that's already popular, they provide the users you provide the service.

Paid Social media marketing usually means you will need a RMG (Real Money Gaming) license from facebook to market on their platform: This means contacting a solicitor (David from grid law usual), having your website checked over, Terms and conditions scrutinised, Letter from your solicitor to say all is ok and submit that to facebook for approval. This can cost upwards of £800

The lowest barrier to entry is usually flooded with competition all fighting over the same thing. Go the extra mile and carve out a piece of uncontested internet to market to.

Live Stream Draw

Make your live draw as professional as you can. A phone looking at a 10 year old laptop screen looks bad and reflects badly on your brand. Look into a real streaming setup using OBS and potentially looking on FIVER for stream backgrounds. These are the videos most customers will watch so making them professional and look great will only do good things for your business .

Sooner rather than later i want to do a full livestream setup for professional competition websites.

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