Impactful Design at a Glance: Structuring Prizes for a Pay-for-Results Competition
This is the third in a series to provide an overview of the five phases of AgResults’ approach to Pay-for-Results prize competition design. You can find the first blog post and the second blog post on the AgResults website. For more information about the entire process, check out the full design toolkit that was published in February 2021.
Are you starting to design a Pay-for-Results prize competition and want to know how to structure the prize so that it is effective and motivating?
We are pleased to share our “Structuring Prizes” design brief, the third in a series of five briefs that summarize AgResults’ approach to designing Pay-for-Results prize competitions. In this brief, we explain how program designers can create the set of parameters and rules that determine who competes, how to win the prize(s) and the implementation timeline.
By strategically identifying competitors and developing payment indicators, structures and triggers, designers can craft a prize structure with high potential to drive sustainable market systems change that benefits program beneficiaries. When structured strategically, a prize competition can mitigate competitor risks and encourage private sector actors to develop new business models and reach previously untapped markets.
Keep an eye out for the fourth design brief on “Right-Sizing Prizes” that will be published soon!