Today not only marks the first day of spring, but kicks off the start of March Madness; a great time of year for marketers, especially in the sweepstakes and contest arena. Many companies create tournament bracket challenges that offer huge cash payoffs for the lucky entrants as they know the appeal is undeniable to the young, sports-minded, social-preoccupied market. And since this dedicated (or obsessed) demographic will be entering into pools regardless; whether it’s with work, friends or family, it’s a winning opportunity for marketers.
Quicken Loans partnered with Yahoo! Sports this year to present their Quicken Loans Billion Dollar Bracket Challenge, aka the Tourney Pick’em 2014. Even though the chances are slim, it’s a fun way to get in on the spirit of March Madness. Once you place your bets, you can’t help but think that your bracket has a chance – at least until you realize 50% of your picks are out in the first round.
Another popular bracket bonanza is the ESPN Tournament Challenge, giving participants a chance to win a $10,000 Best Buy gift card. And for those who didn’t start off on the right foot for March Madness (Ohio State anyone?), there is always the Fox Sports Second Chance Bracket.
It’s seems that regardless of whether you’re a marketer, college basketball fan, or just playing for the chance to win, everyone goes a little mad for this month that is March.