Here Is How Giveaways Work
Consumers are tired of earning loyalty points, with 79% of people wanting an immediate benefit instead. This percentage only confirms what we already know; we love free stuff. As a business, offering giveaways capitalizes on this love of freebies to increase brand awareness and customer engagement.
This guide will explain a giveaway and how you can use it as a part of your business marketing efforts.
What Is a Giveaway?
A giveaway is a promotional tool companies use to increase brand awareness and customer engagement. They can vary significantly in size and value, from a single donut to an entire vacation getaway.
There are a couple of types of giveaways, including contests and sweepstakes. A contest is a competition where people compete against each other. A winner gets chosen based on a set of criteria.
In contrast, sweepstakes encourage anyone to enter. A winner gets chosen based on the pure luck of the draw.
Why Hold Giveaways?
Using online giveaways helps a business and brand stay visible and present to its target customer. The more visible the brand, the more people recognize the marketing and company. In addition, you can develop relationships with other companies and influencers that expand your professional network.
Giveaways can also be an affordable marketing strategy that is also extremely effective. Because people are highly motivated by free stuff, they are willing to share and act.
Encouraging your target customers to enter a contest gives you a lead generation source. You can then contract entrants post-contest and convert them to customers.
How to Hold a Giveaway
The first step in hosting your giveaway is to decide on your goal. This helps you define your contest parameters. For example, perhaps you want to gain more email subscribers, social media followers, or sales.
Choose a Desirable Giveaway
Your next step is to choose a suitable prize. It needs to be something that your target customers want. It also needs to be something that motivates people to act.
Define the Terms
Keep the terms of your giveaway simple. Having too many requirements and hoops for people to jump through will discourage them from participating. Competition websites can simplify the setup and management process with contest and sweepstakes templates.
Using a guide ensures your giveaway goes smoothly. It also ensures you stay in compliance with the law.
Once your giveaway is ready, it’s time to promote it. Talk about it on your social media accounts. Encourage your followers to share your posts.
Make a blog post about your giveaway. Send announcements to industry-relevant sources. However, promote it in moderation because no one likes spam.
Name Your Winner
Companies tend to only send announcements to the winners. However, this causes the non-winners to lose interest in the brand. So, instead, reach out to the people that didn’t win with this opportunity for a touchpoint.
Give them a consolation prize with a promo code or discount option. This keeps the losers engaged and boosts sales.
Start Using Giveaways
Offering giveaways gives your business an affordable chance to engage with your target audience. People love free stuff and are willing to perform your desired action for a chance at a giveaway.
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