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$50,000 Cash for Best Idea

by rushindo
12 replies
Is offering people money like $50,000 for the best idea the best way to motivate people to give you ideas? Competitions turn me off and I never think I'm going to win. Many others feel the same, which means you'll miss out on some great ideas. Besides, money doesn't motivate everyone.

What do you believe is the best way to motivate people to give you ideas besides offering money?

EDIT:

What do you believe is the best way to motivate people to give you ideas besides running a competition?

Brandon

P.S. Sorry if the headline mislead you. We are marketers aren't we? ;-)
#$50 #cash #idea
  • Profile picture of the author Eric Stanley
    Money is a STRONG incentive, sir.
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    • Profile picture of the author rushindo
      Originally Posted by Eric Stanley View Post

      Money is a STRONG incentive, sir.
      Hi Eric,

      I agree money is a strong motivator but it's not the best. Here's why...

      1. Wealthy people are not motivated by contests offering money, so you miss out on their ideas.

      2. Most people are conditioned to believe they are not going to when, so a lot of people don't even try. More missed ideas.

      I think I worded the questions wrong. I guess my question SHOULD BE...

      What do you believe is the best way to motivate people to give you ideas besides running a competition?
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      • Profile picture of the author tomfra
        Originally Posted by rushindo View Post

        1. Wealthy people are not motivated by contests offering money, so you miss out on their ideas.
        Fame. Some, or most perhaps, wealthy people love fame. Sure, some prefer to stay in anonymity so it will not work for those.

        But for those who do not prefer to stay in anonymity, I'd probably try offering them a big "Thank You" ad in a major newspaper or magazine. Something like:

        "Mr. X Y is the most clever man in the world, his ideas are brilliant!"

        Well, something more original than that naturally. I suppose this would work better with men than women as men tend to be more egocentric than women.

        It may be a dumb idea, but brainstorming is never bad, right?

        Tomas
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        • Profile picture of the author rushindo
          Originally Posted by tomfra View Post

          Fame. Some, or most perhaps, wealthy people love fame. Sure, some prefer to stay in anonymity so it will not work for those.

          But for those who do not prefer to stay in anonymity, I'd probably try offering them a big "Thank You" ad in a major newspaper or magazine. Something like:

          "Mr. X Y is the most clever man in the world, his ideas are brilliant!"

          Well, something more original than that naturally. I suppose this would work better with men than women as men tend to be more egocentric than women.

          It may be a dumb idea, but brainstorming is never bad, right?

          Tomas
          Once again, I like! And we can always offer options!

          Brandon
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          • Profile picture of the author JamesFraze
            If wealthy people don't like money ... how'd they get wealthy? There was a thread earlier for a $500 prize (in $50 increments) for good ideas. I thought it was a great way of getting quite a bit of good feedback.

            But I would say that if you don't want to offer money, offer respect.

            "Sir, you know alot about how do to X, and I want to be like you. Can I buy you lunch and do an informal interview?"
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            • Profile picture of the author rushindo
              Originally Posted by JamesFraze View Post

              If wealthy people don't like money ... how'd they get wealthy?
              Not by entering contests. ;-) I didn't say they didn't like money. If I'm making six and seven figures, I would not use my time sitting around typing ideas in HOPE of winning $500.

              Originally Posted by JamesFraze View Post

              But I would say that if you don't want to offer money, offer respect.

              "Sir, you know alot about how do to X, and I want to be like you. Can I buy you lunch and do an informal interview?"
              Now we are talking. Emotions motivate people more than anything... like the desire to be respected and acknowledged like you and Tomas mentioned.

              Brandon
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  • Profile picture of the author Lance K
    Originally Posted by rushindo View Post

    What do you believe is the best way to motivate people to give you ideas besides offering money?
    • Offer to make a donation to the charity of the winner's choosing on their behalf
    • Offer a free dofollow link to their site on your highest PR page
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    • Profile picture of the author rushindo
      Originally Posted by Lance K View Post

      • Offer to make a donation to the charity of the winner's choosing on their behalf
      • Offer a free dofollow link to their site on your highest PR page
      Hi Lance,

      Thanks for the ideas. I asked my question wrong. I changed it (see above). Do you still have any ideas?

      Brandon
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      • Profile picture of the author jonb
        How about a freebie (ebook, ereport, etc) for everyone who sends in an idea, and a grand prize for the winning idea? Then folks won't feel as if they're spending their time with only a limited chance of return.
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        • Profile picture of the author rushindo
          Originally Posted by jonb View Post

          How about a freebie (ebook, ereport, etc) for everyone who sends in an idea, and a grand prize for the winning idea? Then folks won't feel as if they're spending their time with only a limited chance of return.
          I like!

          Brandon
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  • Profile picture of the author Clark
    If you have established a strong relationship with your audience then just ask them for their ideas and some will give them.

    You could run a quick 3-minute survey.

    Write an inspiring blog post (encouraging comments from viewers) and/or broadcast an email message inviting everyone to share their ideas.

    The incentive (if you choose to incentivize) could be to post the idea from the person who submitted a real gem in your future email broadcast (with their aff link) and/or use the content for your site giving them credit (exposure) for the idea.
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  • Profile picture of the author Chris_Willow
    Offering products or services instead of money can connect to people who have money already.
    Offering many small prizes instead of one big would get rid of "I wont win" mentality. Plus one could give away bonus prizes for the crazies the sickest and even the most stupid ideas

    My 2 cents

    Chris
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