Monday, October 31, 2011

#4: Why You Should Create a Scholarship Fund

Everyone loves free stuff, no doubt about that.
People also love companies that give free stuff.
Why don't you combine that idea, along with community service, and create a scholarship fund?
You can give it out as a grant, create a contest, or just make it a simple merit award to local kids going to college. The best part is that it has your name on it! The marketing is in itself!

Here's an example:

Vacancy.com, a site where you can find great apartments listed by location, type, etc, has a scholarship for bloggers. To be considered, the applicant must browse around Vacancy.com, choose an apartment, and then write a post on their blog explaining why it's their ideal apartment.

Easy? YEAH! Effective? YEAH!

By creating the scholarship, Vacancy.com has
1) Put their name out in the public. When I go to college, I know exactly where I need to go to find my housing! Plus I got to use the website, search their material, become familiar with the company.

2) Created a good image. The fact that they are able to give out a scholarship makes them look financially stable and community oriented

3) Attracted the right target market. They layout and design of the site is very teen/young adult orientated, which they caught by posting their scholarship on sites like Fastweb (which is popular with college bound kids!)

4) Got free publicity. By making me post about the site in my blog, I'm now marketing the site for them, at no cost to them (unless I win the scholarship that is!)

Take a leaf out of their book and see how you can sponsor a community event!

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