As it stands, Contracts only appeal is that they last a week and provide targeted reputation gains for only one faction. The biggest and only problem being you only gain 10 per World Quest completed.
I came up with two potential ideas as to how this could be amended, per the title.
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Contracts as they are, upgraded to include rep gains from Dungeons/Raids.
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A new type of Contract called an Elite Contract. The Elite Contract functions like the Reputation Tabards.
-A net consequence would probably be both ideas require more mats, making them more expensive.