What is Giveaway Marketing?
Giveaways should be referred to as promotional drawings, or simply as a competition, where a prize is given to a random participant who followed the rules.
Are Giveaways good marketing?
- Giveaways are a great engagement and growth tool.
- In the last few years more and more brands use giveaways to improve their image or to simply drive sales.
How to get great Giveaway Marketing results?
In order to keep the freebie seekers aloof, you should plan your giveaway meticulously, paying attention to the rules you’re adding. Also, make sure you give a prize that is related to your industry, so you can target the people that will still follow you even when the competition is completed.
According to a study conducted by Small Biz Trends, “contests have a conversion rate of almost 34%, which is higher than other content types”.
Moreover, Instagram accounts that run competitions grow their account 70% faster than those who do not run any type of competitions.
While giveaway marketing might seem like hard work, here are some pro’s [and cons] that will help you decide if giveaway marketing is a good fit for you and your business.
✔️ You can grow your network fast
✔️ Engage with your community and give something back in exchange for their appreciation
✔️ It has viral potential
❌ You might need a tool in order to pick the winner
❌ You might attract freebie seekers
❌ You might have to deal with unhappy customers, that didn’t win
What type of business can use Giveaways?
Automotive industry, beauty/fashion industry, design industry, electronics industry, entertainment industry, entrepreneurship industry (business coaches), fitness and sports industry, food industry, marketing and advertising industry, music industry, transport industry, traveling industry, writing and editing industry, etc.
How to do a Giveaway?
- Giveaways are a great way to reach new audiences. Therefore, the first step, when planning a giveaway is determining the goal of it - what do you want to obtain at the end of the giveaway?
- With the goal in your mind, you can go forward and think about the prize and the duration of the giveaway. When choosing the prize, keep in mind that the prize should be related to your business, so you don’t attract any freebie seekers, but an audience that is really interested in what you have to offer.
- The next step is choosing the platform where the giveaway will take place. One of the most popular platforms for giveaways is Instagram, but that doesn’t mean you cannot use other platforms.
- Now that you know the goal of the campaign, you have the platform and the prize, you can only plan the rules of the giveaway. Based on the purpose of the giveaway, the rules should help you reach your goal. For example, if you want more followers, you should add a rule where people have to follow your page in order to participate.
- Also, when planning the rules, make sure the rules are easy to follow, but at the same time try avoiding freebie seekers.
- Promote your giveaway on all channels you are using. Plan a budget for the promotion of the campaign, in order to reach its full potential.
- Select the winner. If you are going to choose a winner randomly, you can use a tool for this. There are a few tools out there that have a free option too, such as random.org or Woobox.
7 Clever Giveaway Ideas You Can Use Now
1. Run a photo competition
We love photo competitions since they get the entrants invested - contestants are more interested when they have generated something.
In addition to that, photo competitions assist you in gathering user-generated content, which you may use on your future marketing campaigns.
2. Run a referral competition
A referral competition can help you create massive social participation. Since participants are rewarded with additional entries for sharing with your social website’s giveaway along with different individuals, they are incentivized to participate with your brand and content on social media. This is amazing as it makes it possible to build your social and spread the word about your giveaway to your entrants' friends and loved ones.
3. Run a #hashtag competition
When creating your hashtag, utilise something special to your campaign - do not use something generic such as "#friends", or else you will find plenty of casual entries.
Developing a hashtag for your social websites giveaway lets you link your entrances and quantify participation. Pairing this strategy using a photograph competition allows you to use a program to catch all photographs with a certain effort hashtag and automatically upload them into an entrance gallery.
4. Highlight the value of the prize
By highlighting the value of the prize, the entrants understand the benefit that the competition provides to the participants. It is among the best giveaway methods; it is also suitable for all giveaway competitions.
We all know it may be challenging to turn giveaway's into earnings. One easy method to get sales from the list of entrants would be to provide them with a coupon via email once they have entered or any time the competition is finished.
The prospects you generate from giveaways can be seen as very interested once they have only entered - that is when they are the most engaged and enthusiastic about your goods.
Employing marketing automation, sending them a voucher they can redeem to get a discount on their next purchase, is a terrific way to make them become paying customers.
Partnering with another company to conduct your giveaway can significantly increase the range of your giveaway. This allows you to advertise to twice as many users because you can utilise your partners network too. This means you are now reaching a new untapped segment of your target market - meaning more excellent prospective clients.
This usually means you've got to discover a partner brand that is linked to your organisation. This boosts your reach and can add interest to your offering - it is a win-win situation for everyone.
7. Run Ads
Just as we love the idealism of organic reach, we also realise it is not a fantastic way to reach new customers. Consequently, we advise that you run advertisements for your competition on social websites to help spread the word about your competition to relevant traffic with the hope of generating new customers.
Have you used Giveaway marketing or are you planning on using it? What would you add to this article? Please let us know your thoughts on the blog. Connect with us on social and let us know.