Opinions Wanted Regarding Entry Costs vs Entry Numbers

[RegalComps]

Hi Guys

I was looking for some feedback for the attached Poll

Say for eg If we are going to put up a desirable quad or road bike,

Would you guys prefer to pay a higher entry price therefore reducing entry numbers, OR a lower entry price & higher entry numbers?

Thanks

 

[KevM]

Its a tough one.

Id be put off doing RKings as its generally a £20 entry with good odds, but I would buy 3 or 4 of a cheaper entry, to increase my odds.

 

[Dave..]

I went for higher price less entries, although it depends on how high the price is but the better odds appeal.
I think you would have to test it out to see who your customer base is.

 

[robbiers2000]

hard to tell I do both to be honest. wee pw50/80 motorbike seem to do well

 

[mark19]

It's a proper mixed bag.
For the watch I buy a ticket cause its like 4 quid but 1000s of entries
For the cars I rarely enter much that is over 20 quid or over 1000 entries

 

[RegalComps]

for a rough example say a road bike

£15 per entry x 400 entries
OR
£10 per entry x 600 entries

This is just an example

 

[robbiers2000]

not much of difference wont matter
if I was you I would go wee pw50 and Suzuki quads always seem to sell well and cheap

 

[Todd]

not much of difference wont matter
if I was you I would go wee pw50 and Suzuki quads always seem to sell well and cheap

Are you really hoping to win a quad / motorbike?

 

[Sonny]

Mix it up.

If you can, do two competitions at a time. One with the higher odds, other with lower.

 

[RegalComps]

not much of difference wont matter
if I was you I would go wee pw50 and Suzuki quads always seem to sell well and cheap

Nice Suzuki quad will be going up soon

I am not sure on the PW50 compared to a 50cc suzuki quad for kids, Wee quad I would say be alot more popular

 

[ChrisL]

I liked Woodcutters suggestion, package holidays, track days etc etc that would be things people would be all over.

 

[RegalComps]

I liked Woodcutters suggestion, package holidays, track days etc etc that would be things people would be all over.

Need to get these bundles sold out first. They are going slow. I thought they would have sold out quickly! Plenty of facebook likes but trying to convert them to sales

 

[ChrisL]

Are you using the Facebook tools in terms of marketing the business and making sure the posts go out consecutively and at the peak times?

 

[RegalComps]

Are you using the Facebook tools in terms of marketing the business and making sure the posts go out consecutively and at the peak times?

we have sponsored all ads repeatedly and to suit locations & people audience we want, Guess its as we are a new company it will take a while for us to sellout!

Have sold a few through RMS, but hoping to get more RMS members on board, we will start into the motors and other types of competitions soon as we sell these 2 out

 

[Sonny]

Need to get these bundles sold out first. They are going slow. I thought they would have sold out quickly! Plenty of facebook likes but trying to convert them to sales

I had a post hit 25k+ reach and it wasn't translating into 5-600 purchases.

If you have a car ready and waiting I would build some anticipation for it over the coming week and post it up. Couple of teaser images "Guess the car correctly, win a free entry!" It will draw more eyes to the other competitions too.

 

[Todd]

we have sponsored all ads repeatedly and to suit locations & people audience we want, Guess its as we are a new company it will take a while for us to sellout!

Have sold a few through RMS, but hoping to get more RMS members on board, we will start into the motors and other types of competitions soon as we sell these 2 out

I see some companies are asking people to share & like the post for the chance to win a free entry. Might be worth doing...

 

[RegalComps]

I had a post hit 25k+ reach and it wasn't translating into 5-600 purchases.

If you have a car ready and waiting I would build some anticipation for it over the coming week and post it up. Couple of teaser images "Guess the car correctly, win a free entry!" It will draw more eyes to the other competitions too.

We are going to go with few quads first as motor related and will be around 300-350 tickets so should be easier sellouts then build it up to cars!

I see some companies are asking people to share & like the post for the chance to win a free entry. Might be worth doing...

we did this and gave 3 entries per competition! to be fair I guess we are only going 2 weeks today so it hasnt been too bad so far

Think alot of people will wait until timer is closer to 0 before buying (I hope )

 

[Nicky]

Surely something like a £5 entry/500 tickets raffle for a half decent motor 530D or something cheap to get the ball rolling would be better?

No point sitting there with a £6k car/bike and it not selling while it’s MOT dwindles away.

 

[RegalComps]

Surely something like a £5 entry/500 tickets raffle for a half decent motor 530D or something cheap to get the ball rolling would be better?

No point sitting there with a £6k car/bike and it not selling while it’s MOT dwindles away.

Hard to get clean cars at that money, and would want to be presenting any vehicle we have for competition as a nice clean tidy example

Thanks though and will have a look at a few options and see if anything is suitable

 

[Nicky]

Hard to get clean cars at that money, and would want to be presenting any vehicle we have for competition as a nice clean tidy example

Thanks though and will have a look at a few options and see if anything is suitable

I know it’s not easy to overlook a car being anything less than mint or a spotless example given your line of work, but any kind of half decent motor with a valid MOT for £5 isn’t going to be snubbed.

The likes of the S3 in the classifieds at £1700 would be an idea for a cheap purchase and I would imagine a quick turnaround.

 

[mark19]

I agree with the above

Persoanlly for me I have no interest in a quad or a bike

I know some people do but I'd say a car would appeal to the masses more

 

[RegalComps]

What is the thoughts on straight up cash competitions:

£5 entry for £1000, £2000 etc ?

 

[Todd]

What is the thoughts on straight up cash competitions:

£5 entry for £1000, £2000 etc ?

Wouldn't be for me.

I only ever buy a ticket for a car i actually want to own. Once or twice I've added in a £2 "bundle" ticket as a "filler" but i wouldn't buy one on their own.

 

[Sonny]

The likes of those tech/cash/quad/tools are really only there to bump up the cashflow for the bigger prizes.

A decent car will hook in an audience more than any more smaller comps.

Could throw some £ at an influencer to promote a competition.

 

[Gavlar]

Holiday ones are a good shout, even watches

As mentioned though if you stick to felt type cars you'll sell loads