I know, I know we have all been there and always seem to be stuck there. We enter and enter and just never seem to win anything we put our name into.

What if you had the power as a giveaway host to turn that frown upside down. This is what we call the consolation prize or the prize for all the losers.

I have found consolation prizes to be better off announced at the end when the giveaway is over and the announcement for the person that won is out. You can follow this up quickly with how everyone else that took the time to enter your giveaway can pick up their consolation prize.

This actually has a massive impact on people as they no longer feel high and dry for the time they put in. It triggers a sense of winning in their brain and a feel good moment where they now enjoyed the time spent on your giveaway and will be happy to return again and again for future giveaways.

What exactly might you offer?

Sponsor Benefits
If you have a sponsor for your giveaway you could work out a special with them here are some ideas.
1. Boost interest in your sponsors product by having them give you a discount code every person who didn’t win can use.
2. View boosting happens as well when your entries reward you with a discount code for doing a task.
3. Boosting sales to your Sponsor as more people gain awareness of the product, hear about you supporting it and allowing them to try it out for a discount they can only get at your giveaway.

Non Sponsor
If your just starting out chances are your putting all the money upfront on these grand prizes.
1. Consider offering one of your product at a massive discount $7 or less. I would not recommend giving it to them for free as people need to have something vested in order to take a product serious even if it is just $1.
2. Boost views to your business such as blog posts and have your giveaway entries for sharing, commenting and liking your posts, youtube videos and more.

There you have it! A consolation prize is a great way to keep people happy and coming back for more. While yes the grand prize winner is the true big shot you have still built an amazing relationship with all the other people who took the time to enter your giveaway.