Multiple Prizes or One?

I ran across this article that is still very relevant, even one year later. It discusses the question of whether to offer one big prize or multiple smaller prizes in your sweepstakes.

What motivates a consumer to take action? And how do you know if you have captured their attention with the prize(s) that you are offering?

This article suggests that offering multiple smaller prizes to a greater number of winners is the key for the following reasons:
1) consumers are likely to enter if they feel their odds of winning are enhanced
2) more winners means more people to feel good and promote your brand
3) with today's economy, more people are actively looking for a chance to win prizes
4) offer smaller logo'd items as prizes - enforce your brand.

Another key element is to find a prize that is relevant with your brand's target audience's interests and aligns with the consumption of the brand. You should see greater participation.

To read this article - click here http://promomagazine.com/contests/0301-beat-recession/