As its announced that UK consumers are hunting out prize promotions to ease the cost of living crisis, we reveal The Experts Guide to Winning Prizes

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New research has found that the public are increasingly turning to winning prizes as a solution to the current financial situation. Traditional wins like fancy holidays, fashion items or even tickets to the next World Cup are out; these days it’s prizes that help ease the financial burden of day-to-day life, like money towards energy, internet, mortgage payments & grocery shop bills that people want to win.

A new survey, by prize promotion experts PromoVeritas found that:

  • We’re a nation of ‘compers’; 77% of us have entered a prize draw in the last year
  • 23% want to win their bills paid or grocery prizes to help ease the cost of living
  • 44% are more likely to want to win lower value prizes, discounts and groceries than pre Covid. This figure is highest in Scotland (61%)
  • #BeKind; Gen Z’s most favoured prize is a charity donation (31%) with a massive 83% demanding environmentally friendly prizes (compared to 60% average)
  • Cash is still king! Almost half (42%) list it as the most sought after prize
  • Even top earners say “Give me the cash!”; it was the most coveted prize for those earning £70K plus (73%)
  • More people are winning! 55% have won this year compared to 41% in 2019
  • Top earners are most likely to enter prize promotions
  • 41% more likely to turn to their loyalty programmes than six months ago

So, has this inspired you to hunt out some prize promotions that might help make your lives just that tiny bit easier? Money Magpie asked the team at PromoVeritas, an organisation with expert knowledge on everything to do with prize promotions, for some insider tips.

Brand

Here’s The Experts Guide to Winning Prizes

  • For cash prizes… If you’re looking for cash prizes keep your eyes peeled for microsite entry pages as they are usually the best way to enter, and you can often do it multiple times giving yourself the best chance of winning. Of course please do check the terms and conditions for entry requirements, you don’t want to be disqualified for not correctly following the entry criteria and entering too many times!
  • For bigger prizes… Keep a look out for instant win and competition promotions, these may take more time to enter or come with a lower chance of winning but the pay-out is usually a lot higher and more bespoke. Brands often want to turn these into an experience that they can showcase and talk about on their websites or social media (so be prepared to perhaps be part of this story!)
  • For easy wins…. You can find prize promotions where you have to follow a URL on the brands website, or from packaging on a product These usually just involve handing over your email address and sometimes a small amount of personal information (name, number, etc). This makes then very quick to enter, 2-3 mins max and for anyone who wants to enter on a passing whim. Maybe get hunting in the aisles for competitions on products next time you’re shopping!
  • Get socially minded… We’d include social media promotions in with the ‘no hassle’ group. Very often they just require commenting on a post and following the brand. They’re nice, simple and quick for anyone to do. Lots of brands use them as a way to boost their following, so if a new shop, salon, brand or restaurant is launching its always worth checking out their Instagram or Twitter accounts for any promotions that could help you win something lovely. Make sure you follow all the brands you’re a fan of, they’re really good at supporting their loyal audience, so you often find they will be giving any bespoke prizes, often more tailored to their audience – and you!
  • Loyalty pays off…. Yes, loyalty programmes are a great way to save money in your favourite supermarkets (Nectar, Clubcard etc), plus lots of other brands are now starting up loyalty schemes (Yeokens, O2 ect) that may help consumers to gain discounts and money off in other areas of their day to day lives. It might seem like a hassle signing up but they are always worth checking out
  • Where can you go to find the best prize promotions? There are some really great resources to find the latest promotions, such as ‘Compers News’ and a website called SuperLuckyMe by the well-known comper Di Coke. Check them out.
  • Remember, remember…. Keep a log of the competitions you’ve entered – at PromoVeritas we often have winners believe they are being scammed when we notify them, and don’t reply therefore forfeiting their prize. Making sure you’re aware of prize promotions you’ve entered takes away that layer of worry when someone contacts you
  • If you do get a call, and you can’t remember entering, ask who the brand is and if so who is fulfilling the competition. In our case, we have a website with our credentials which can be cross checked with the terms and conditions (found at the point of entry). All organisations doing the fulfilment should have the same
  • How not to get scammed…. Make sure to only follow links from trusted sources – social media channels, packaging and the brands own website. If you receive an email from an organisation pushing a promotion you should ALWAYS make sure to check the address it’s being sent from, if it doesn’t look legitimate or doesn’t fit with the way the brand talks about itself, don’t click through any links. If you’re still unsure visit the company’s website directly – it’s always worth doing this
  • Finally, have a bit of fun…. Prize promotions shouldn’t cause you hassle, and if they are totally free to enter they can be a fun way to try and win yourself something nice. Something we all need at the moment!

DisclaimerMoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence 

The post As its announced that UK consumers are hunting out prize promotions to ease the cost of living crisis, we reveal The Experts Guide to Winning Prizes appeared first on MoneyMagpie.

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