Wherever I turn these days, I find a company that is running a giveaway on their website, Facebook page…etc. The reason is because people have found these giveaways very effective in terms of getting new business. Their viral nature is what makes them super effective. People LOVE to get free stuff and they’ll be more than happy to spread the word about your brand for a chance to win something they really want.
There are many benefits of running a giveaway. The most important are:
1- Increase Awareness
This is probably the most important outcome that small businesses are looking for form giveaways. Many giveaways require people to share in order to enter and win something. Social networks like Facebook and Pinterest for example have a viral nature. When people share your giveaway on Facebook, their friends will see it. Some of those fiends will enter as well and share your giveaway and it’ll be shown to their friends as well. Soon enough, your brand will be exposed to thousands of people that might have never heard about you before.
2- Increase Sales
Lots of giveaways require people to enter their emails for a chance to win. Since email is the “Medium” when it comes to converting prospects into customers, your sales will increase even though people have opted in to win a free prize. If you target the right audience with the right prize, then each of those subscribers is actually a prospect that can benefit from your products or services.
3- Reward Your Brand Evangelists
Your brand evangelists are one of the most important assets for your business. They are the ones who resonate with your brand the most. They will spread the word about your company, tell their friends and family, recommend your products…etc. Running giveaways that reward those promoters will make them like your brand even more and when they do, they’ll help you promote your brand even further.
There are many types of giveaways that you can run. 2 of the most popular are:
In this type of giveaway, people are chosen based on who deserves the prize (like a competition). People are usually asked to submit some form of content (video, photo, audio…etc) in order for them to win something. This type of promotions is great when it come to getting user generated content as well as increase awareness for your brand, especially if you’re running a contest where people vote for their best person (in this case an influencer who has access to a large audience). If the prize is of high value, those influencers will ask their audiences to vote for them and that will get your brand exposed to a portion of their audience.
In this type of giveaways, people are chosen at random. Everyone is allowed to enter and the winners will be selected randomly using some type of software/app. This type of giveaway usually gets more exposure since it offers a low barrier to entry. Participants don’t have to submit anything, they just share your contest, enter their email or do whatever action your require from them to enter.
There are many factors that make a giveaway a success. One of which is choosing the right prize!
A targeted prize will make sure you only get people who are interested in what your offering. Here is how you choose the best prize for your giveaway:
A) Never Offer iPads Unless You’re Apple!
I know that you probably heard of this hundreds of times already, but I still see many businesses choose iPads and iPhones as prizes although they make no sense to the products or services they offer.
Who wouldn’t optin for an iPad?
Probably no one (unless they’re Android fans).
The prize you offer should be related to what your company offers. If you sell photography courses, then a camera lens would be great. If you offer dog training products, then free dog food would be great. This way, you’ll make sure that you only attract people who are really interested in what you’re offering.
B) Offer Something Exclusive
People love to feel special and you’ll be getting great results if you offer something that is very exclusive and limited in quantity. For example, if you’re selling T-shirts, then offering an exclusive model that could only be gotten by entering for the giveaway is a great idea. If you’re selling consulting services for example, then it would be a great idea to offer 1 lucky person a month of consulting for free. I bet that all the people who enter could be considered prospects since they have a problem and they want a chance to solve it.
C) Make It Worth Their Time
People won’t probably spend a lot of effort to a win a $10 item. It’s just not worth it!
If you want your giveaway to be a success, you need to be generous and offer people something that is of great value to them.
You don’t have to go as far as Zillow did when they offered a $350,000 home for their sweepstake winner, but at least try to give something of real value so you get the volume of entries that can really affect your business.
That being said, do you think that prizes are what separates super successful giveaways from failing ones?
Image Credit: Egahen