Do Prizes Matter?
For most quiz teams, the value of the prizes is not a major drawcard for a regular quiz event. The prizes should simply be set at a comparable level to other quizzes in the region. Do some research on the prizes available at these other quizzes. It is not advisable to compete with other venues on the level of prizes.
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What Are The Average Prizes?
Prizes can range from a total prize pool of just $50 for a small quiz to $150 or more for larger venues. The average prize pool across all of the Qwizard venues is about $115 – with the average first prize being about $60, the second $35 and a spot prize average of $20.
The prizes should be in the form of venue vouchers – meaning that the cost of the prizes is only a fraction of the retail price of the voucher. For example, when a $50 voucher is redeemed, the marginal cost to the venue is only $15 – $20, depending on the product purchased.
The prize pool is better spread, with smaller denominated vouchers and more prizes. We recommend that one of your prizes is a spot prize. This can be used to reward a new team or a loyal team.
What if the Same Team Keeps Winning?
A good tactic to spread your prizes around is to put your vouchers into envelopes and present them as random prizes – asking your teams to come up and select one of the two or three vouchers. It is not uncommon to adjust the prizes on offer in response to attendances. For example, an additional $20 spot prize may be added when eight teams or more attend. When changing your prizes – especially for a reduction in the prize pool – it is a good idea to consult with your teams. Get their buy-in.
Vouchers
Your vouchers may include any special terms that you wish. They may differ from the terms on other vouchers – when they can be used, when they expire, or even what they may be used for. Terms that are too onerous may, however, send a bad signal to your teams. Again, we recommend that you communicate with your teams about any changes in their area. The conditions on your vouchers should be considered alongside what is being offered at other nearby quiz venues.
Note that the Qwizard system automatically issues the prizes on-screen to the winning teams for your host to distribute personally. The prizes listed on your Qwizard account can be changed at any time.