Tournament Prize Preferences Question

This topic has 9 replies, 7 voices, and was last updated 9 years, 8 months ago by PhilAddison.

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September 19, 2016 at 6:52 pm #282460

jpeiserich
Participant

If you were going to fish a local tournament series, which would you prefer as the prize for first place in the year end championship?(Your vote has been cast.)Total votes: 44 Straight Cash 32(73%) Boat Certificate 6(14%) Boat Credit – so much to spend on the sponsoring boat companys offerings 0(0%) Tackle Credit – so much to spend in the sponsoring tackle store 0(0%) Some combination of Cash and Credit 6(14%)Poll ended at September 29th, 2016, 6:52 pm

September 19, 2016 at 11:55 pm #282461

PhilAddison
Participant

I voted straight cash, but boat prize tournaments will usually generate more participation in the tournament.

September 19, 2016 at 11:59 pm #282462

High Cotton
Participant

Cash. And no 1099

September 20, 2016 at 12:04 am #282463

matt79
Participant

My best friends call me cash!!!!

September 20, 2016 at 1:21 am #282464

Bigmike
Participant

High Cotton wrote:Cash. And no 1099 ^^^^WHAT HE SAID^^^^

September 20, 2016 at 2:13 am #282465

Bass Cat Boats
Keymaster

Straight cash homie

September 20, 2016 at 2:21 am #282466

Bass Cat Boats
Keymaster

Its not a simple question as you can generate more value with cooperative sponsorships. Cash is a flat cash value, for both the event coordinator and the recipient.

September 20, 2016 at 1:59 pm #282467

jpeiserich
Participant

That is what I see as the problem. Anglers, especially those who routinely fish tournaments, seem to prefer a check. However, to generate more interest in tournament fishing as Phil said, you need to have a boat prize. For sponsorship purposes it is easier to generate participation if they get so show off their great products. In my mind for a large sponsor, the purpose of the sponsorship is to drive sales ultimately and to do that you have to create advertising value.When I sponsor things in my business, the intent is to have it result in more work for the business. Every business looks at it that way I would think. Am I right that to get high participation from non-core tournament fishermen a boat prize is better? Phil – do you think a boat certificate or a boat credit amount would be a bigger draw?

September 20, 2016 at 3:00 pm #282468

Jay
Participant

I like trophies. Im going to blow the money!

September 20, 2016 at 3:21 pm #282469

PhilAddison
Participant

Not the easiest question to answer……Ive seen 100% cash payout tournments struggle and fail and Ive seen boat tournaments thrive even though the advertised payout is much less than what is advertised. Boat certificates can be hard to get rid of if the winner does not plan to use on a new boat for themselves. Individuals know you won the certificate and want to beat you down on your asking price. Even dealers will do you the same way! Winning a boat itself is very similar except there are underlying headaches that some may not be aware. Taxes taxes and more taxes!! And you have to deal with having the boat stored somewhere until you get rid it. Dont get me wrong I would gladly accept winning a new boat or certificate any day, but cash its just easy to deal with. Your question needs to be answered by one who rarely fishes tournaments as they are ones that youre trying to draw. In addition the tournament needs to be held on a weekend when there is nothing else going on and preferrably in the early spring. Wish I had a better explanation but throwing tournaments is not as easy as it might seem and getting participation is even more fickle. Good luck with whatever youre trying to achieve!
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