Seeking Help Does my marketing plan have any merit?

[RATATAT]

I have always been of the idea that one should stretch marketing dollars as far as possible; large marketing spend doesn't seem to equate to high or for that matter,decent and consistent profits.

I decided to cap myself to a budget of $2000 for marketing a few digital products I have.

With that budget, I can either:

1. Give it all to a 1 influencer/youtuber with a large following. Some of their rates are eye poppingly large. ($1500 for a newsletter shoutout? really?)
2. divide it among smaller youtubers e.g. 500 for 4 different guys and guage the results
3. run a contest

I have never run a contest and this is how I am thinking of running it:

1. Spend the budget on giftcards and various electronics like used gaming consoles, kitchen appliances and whatever I can get on FB marketplace that has utility
2. Run said contest where people download one of my apps/ebooks etc and enter their email addresses
3. Use said email address for upselling down the line.

I have limited experience with influencer marketing and none at all with running contests.

Can you guys help me decide with one I should go for? Maybe point out the pros and cons of either one or maybe write from experience?

Thanks!