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Cash Prize Giveaway ~ How To Raise Funds For The Competitions!

Cash Prize Giveaway (sweepstakes if you like) is a common way to get some quick cash straight to your Paypal Account (As a participant).  You connect to a certain website, do one or two things and if you are lucky, you get cool hot cash straight to your Paypal account. As a blog owner, it’s an exceptional traffic tool and huge blog engagement weapon.

Now tell me, what will you do with $75 sent straight to your Paypal?

That may not be big enough to cover your house rent! However, it may help pay your hosting bills, domain names, buy a premium plugin or theme or even hang out in a Café Resto next street.

Before we get into the meat of this post, (raising funds for your Cash Prize Giveaway), let me quickly inform you of this opportunity to enter and win hot cash in a cash prize giveaway that’s being done by my blogging pal Kharim Tomlinson on his blog. In this Punchtab driven Giveaway, 3  winners will be selected;

  1. First winner (probably you) will move away with $75 cash
  2. Second winner will go away with $50 cash
  3. And Third winner gets paid  $25 cash

These prizes will be sent to Paypal.

If you don’t have a possibility to receive by Paypal, you can always get it through a friend or have something bought online and sent to you.

Enter The Giveaway Here!

Why do bloggers do  cash prize giveaways?

Let me use this opportunity to throw in some light about cash prize giveaways and why we do it often.

Recently on this blog, I have had 3 blog commenting cash giveaways in about 3 weeks.  4 winners were selected and a total of about $225 paid out cash. I still will be doing more of this so don’t think I’m done with.

I created a blog post giving out some information about these commenting giveaways. You may want to check so you can replicated my method

Click here for more details

When I looked at my traffic stats, there was a serious jump forward. That means there is positive reason to run these competitions.

One strong reason is the reward you give your readers. If you are like me, you know that your blog readers are most precious. While you may think you give them worthy contents, giving them an opportunity to win cash doing what they do often on your blog is a very cool idea and a motivating factor.

I could as well use that amount $225 on Facebook ads or Google Adwords. That would have been lack of application of knowledge. The benefit of running cash contest on your blog (in terms of traffic, engagement and even SEO) are more than anything you will get with paid traffic.

Here is my point…

Instead of giving Google or Facebook $500 for paid ads, I’ll prefer the following;

  1. Run a Punchtab giveaway on my blog where winners win $200 in total
  2. Pay 6 bloggers ($50 each) to blog about my contest and link to it.

That would have been a total of $500 spent right?

Here is what I stand to gain…

  • 6 backlinks from the 6 blogs.
  • Longterm direct traffic from the 6 blogs.
  • Build a strong relationship with the 6 bloggers.
  • Offer my readers monetary reward thereby building more trust.
  • Grow my social media base – more likes, tweets, G+, followers.
  • Benefit from the effect of viral traffic generated by Punchtab.

I think for bloggers, these are just outrageous benefits. If you have an ecommerce shop, you may consider otherwise.

You see why I like the idea of cash contests and giveways?

How to raise funds for your Cash Prize Giveaways

I know this is the hard part of the whole thing. Most of us would love to run these result driven competitions but what holds us back are the prizes.

Giving out something tangible as prize is a good option. However, it has to be hot and unique. Some bloggers give out themes, plugins, webhosting, etc. The problem with  this kind of prize reward is that, evidently, not everyone that comes across the contest will have compelling reasons to take part.

For instance, if you are running a Genesis prose theme giveaway, you certainly will not have me on board. I have it already

If you are running a commentLuv Premium plugin giveaway, you are not going to impress me. I have it already.

So you limit yourself big time, giving out some prizes that are in possession of a cross section of bloggers.cash prize giveaway

Hot Cash is best!

Everyone’s attention is peaked when it comes to cash. Everyone needs cash. Cash is the highway to anything you want. Yes! With cash, you can buy anything – online and offline.

That’s why doing cash contest or giveaways always gets a lot more attention from around the globe.

Cash prize, being most attractive, at the same time, it’s the most difficult to get. Here are two ways I suggest you go about looking for cash prizes for your next contest;

1 – Team with friends: This is often good to start with. If you are 5, you can come together and put $25 each. That will amount to $125. People will still get mad at winning it.

Then you can co-host the sweepstake on your blogs. With PunchTab, it will be easy and I think you can really benefit from mass exposure doing this.

2 – Get sponsors: This is my most favorite method. I have  had many advertisers sponsor contest and giveaway that I run. That’s simply because I set out to give them exposure.

No one is just going to give you $150 because you want to run a sweepstake. For the most past, just a simple link and mentioning them on the giveaway post is  not enough.  I resorted to doing complete review of their products and that has proven to work.

You must come out strong and let your sponsors know what they get in the package. If you want my brain, build up a huge package of advantages like –

  • A complete review of their products.
  • Banner ads on your blog for them.
  • More exposure through advertising.
  • Etc.

Writing an irresistible business letter!

Do you know that you can write a business letter that’s hard for advertisers to resist? There are some key points you need to raise that will keep them begging for your Paypal account email to send you money.

Check out this post for details on this

I have mentioned a couple of times here on my blog that advertisers need exposure and the more you give them, the more you get paid for it.

Now let’s chat…

Have you done cash prize giveaways before? What where your results? How did you raise the funds for the prizes? Do you intend to do more of these competitions?

I’d like to hear you out in the comment box below.

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Enstine Muki
 

Certified Cryptocurrency Expert, Problogger and Serial Entrepreneur

Aman Sareen

Great News @enstine For Making Some good Money $$$ . I will refer this to my all friend as well
Twitter:

Ahmad Naeem

Sir really impressive article
Your cash prize give is great idea
Keep it up Thanks
Twitter:

Wendy Ewurum

WOW. this is amazing information Enstine.
I have been wondering how you manage to giveaway this much cash.
I am so happy to say that I took your advise very seriously about a month or two ago when you were talking about operating your business from one blog. I had said to you that my “business generating” blog was separate from my main one and is where i run most contests.
You said that your opinion is that giveaway is great for traffic.
So i have moved my blog to wordpress as explained last week and its giving me flexibility to combine these two blogs.

Most of my clients are giving me kindles to give away.
Now i am wondering if I should just ask them for the cash rather.

Wendy
https://fabulosityreads.com/
Twitter:

    Enstine Muki

    Hey Wendy,
    I was on your blog earlier today but didn’t have much time to interact as I was writing this post πŸ˜‰ Congrats on taking that step and going through the process successfully. I’m excited you are applying something you learned from me πŸ˜‰

    Now, you know what your audience is interested in. As this is the first, maybe you give the kindles a try first before requesting cash. From the first giveaway, you will know what’s up next.

    How about that?
    Enstine Muki recently posted…Premium Logo – How I got mine for $5My Profile
    Twitter:

      Wendy Ewurum

      And so I soldier on Enstine. thank you. See I meant it when i said i learn something everytime i come over.
      Twitter:

Edi Dominic

Mr. Enstine, i had been enjoying every of your single updates about making money with blogs, this particular post went further more to be an eye opener for other blogger who wants to grow in the business like you.
Thanks alot.
Twitter:

Samir

Hello enstine,

Seems like something has been changed in this blog’s design and its better too. The ideas are rally unique and wonderful to apply and earn some additional money.

Thanks

Siraj Wahid

Hey Enstine,

I like your idea of rewarding readers with cash prizes and no doubt it’s better than spending money on any marketing campaign.

You know what? Cash prize giveaways are working as a marketing campaign for you, i’m not a regular visitor of your blog but i’m a blogger and when you announce giveaways like this one then my social profiles get filled up with your giveaway URLs because people love what you are doing, you are helping them to earn money and they help you in marketing your blog.

By the way, i have a question. What’s the best method to reach sponsors who can sponsor cash prize giveaways? I’m dealing with different companies for a long time and it’s really difficult for me to convince sponsors for cash giveaways, although most of the time they agree to provide free product copy but they don’t agree for sponsoring cash giveaways.

-Siraj Wahid
Twitter:

    Enstine Muki

    Hey,
    Good to see you again around and I’ll like to be having you on board so often πŸ˜‰

    The quick way to get to those sponsors who can sponsor with cash is to find advertisers who are currently buy space on other blogs. Most of them already have a budget for publicity. Visit other giveaways and contact those who sponsor them. Chances are that they will listen to you. Go to emperola.com and visit those contests, find out if they are being sponsored. Contact their sponsors.

    Make sure you let them see reasons sponsoring contests on your blog
    Enstine Muki recently posted…My secret free blog traffic source revealed!My Profile
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      Siraj Wahid

      Wow! Thanks for the quick reply and for the tips as well Enstine, you are still the best blogger πŸ™‚ I’ll surely visit your blog more often now as i’m almost free from exams. Your blog is really worth visiting πŸ™‚
      Twitter:

Kharim Tomlinson

Hey bro, great blog post man.

Thank you for including my cash giveaway as well πŸ™‚ Really appreciate it!
Twitter:

Shahnawaz Sadique

You have written some awsome tips to get loyal reader, trust of bloggers etx but ont thing which is annoying me is that it would be really that simple to get sponsorship to launch such campaign. If yes than why don’t you share some of trick to get sponsor for review, post and for campaign
Twitter:

Prakash

Sir really impressive Giveaway For Making Some good Money $$$ . I will refer this to my all friend as well
Twitter:

Sunday

A very formidable insight on how to raise funds for cash prize giveaways. The two methods pointed out should be revealing to many who are not knowledgeable about how to start.

The second method of using sponsors is also my favorite. It is a WIN WIN situation for all!

I have left this comment in kingged.com – the content syndication and social marketing platform for Internet marketers, where this post was shared.

Sunday – kingged.com contributor
Twitter:

    Enstine Muki

    Hi Sunday,
    Thanks for the wonderful comment. I’m sure this will help us raise funds for this traffic oriented activity.

    thanks for sharing on kingged too

    Do have a wonderful week ahead
    Twitter:

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