Blockbuster Contest Idea: A $1 Million Prize

If you’re looking to sponsor a video contest that gets lots of media exposure and a slew of great entries featuring your brand, here’s an idea: Offer a $1 million prize.

I would contend that apart from buying spots for the Super Bowl, a strategy that proved successful back in February, a $1 million prize is the best way to ensure that your contest stands out. (Then again, a $1 million prize and a Super Bowl spot could be the perfect contest combo.)

Of course, $1 million is just the starting point. A contest putting this much on the line also would need plenty of conventional advertising to back it up, as well as investment in online and broadcast venues to showcase the top contestants and their entries.

(By the way, I predicted that someone would offer a $1 million prize this year over at sister blog Usertainment Watch, which is written for producers. I’m still waiting — and so are all those producers out there!)

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