Commonwealth Bank (still referred to as CBA) has launched a marketing campaign to attract small business owners to its Facebook page by running a competition to win $10,000 in cash plus a year’s worth of business mentoring.
As part of the competition, business owners are being encouraged to nominate themselves or people they know, and describe in 200 words or less why the business needs a $10,000 cash injection.
CBA’s business Facebook page lets you view the competition details, but in order to enter it, or vote for a business that’s nominated, you must first ‘Like’ the page.
Once you ‘Like’ the page and get to the actual competition form, there is also a question asking business owners if they want a sales rep from the bank to contact them about cash-flow, investment, business planning or ‘support to keep my business going’.
A judging panel will choose five finalists, that will be put up on CBA’s business Facebook page, and then be open to voting to choose a winner. All of the finalists will be given $1,000, while first prize gets the $10,000 in cash, along with a 12 month coaching program with Peter Switzer.
As a further incentive to ‘Like’ the Facebook page and take part, Commonwealth Bank is giving away $10,000 to one random voter in the competition.
A spokesperson for Commonwealth Bank confirmed that there is no way to vote or participate without liking the page.
“People visiting the page are under no obligation to ‘Like’ the page, however, it is part of the entry requirement,” said the spokesperson.
“Everyone who would like to participate must ‘Like’ the Facebook page and agree to the ‘Terms & Conditions’ of the BetterBusiness Booster as this is a competition. The winner will be drawn at random and notified through Facebook.”