There are several ways to grow your business online. From social media advertisements to PPC and content marketing, you have your pick on what to pursue. The last thing people think about when it comes to turning a profit is giving something away for free.
Giveaways are a great to put your business on the map and showcase your brand. Not only can giveaways be low in cost, but they can have a high return on investment.
Promoting a giveaway can be exciting for both a business and followers involved. Keep in mind that there are specific local and state laws in place regarding giveaways. Make sure to talk to a legal professional to make sure your rules and regulations are in order before announcing your giveaway.
A successful giveaway can generate hundreds to thousands of followers, subscribers, and an increase in sales. Giveaways can also help your business grow massive in a short amount of time. Here’s how to get started:
Have well-defined goals
By the end of your giveaway, what would you like your business to have achieved? Begin by putting together a list of goals to stay organized.
Focus on one key performance indicator and throw everything about your giveaway into achieving it. For your giveaway, you might want to think about:
- Creating excitement around a new product
- Increasing sales on a specific product or collection of products
- Growing your e-mail marketing list
- Increasing the number of followers on your social media accounts
Having an indicator to measure will make it easier to go back to see if your giveaway was successful. Don’t be afraid to set concrete number goals such as “a minimum of 1,000 followers” or “500 entrants”.
Giveaways are used to increase brand awareness and build and online following. You want your current followers to enter but you also want them to share to people who know nothing about your business.
Have an exciting prize
The prize is what people are here for—you need to make it worth it! The product is the first thing that will attract people to your contest. No excitement equals no participation.
Giveaway prizes come in several forms. Whether it’s a product or cash prize, it’s always something that will showcase the brand. Popular giveaway items include:
- A limited-edition product
- A collection of products
- Gift cards
Limited-edition products are exclusive and will generate buzz just because the product may never be seen again. Not only is your product special, but the potential winner is too.
Even if your business isn’t large scale enough to giveaway something like a travel package, you can relate your products to such activities and still make them attractive.
Provide incentive for your giveaway
With a giveaway, you’re not just simply letting someone have your product for free. You are giving it away in the hopes that they’ll be encouraged to buy the product or explore what your business has to offer.
You must make your followers work for the giveaway. Think back to your original goals for this giveaway and tie it in with your incentive.
For instance, if you want to increase your followers on Instagram, require that entrants follow your page or tag friends in the comments to qualify. Do you have an attractive photo of your product? Request that users repost your photo to enter or hold a contest to see who gets the most likes to determine a winner.
Incentives like reposting and tagging of friends can work to validate entry, but they are a great way to gain free advertisement. Certain companies have asked that entrants post a video of why they want the product or why they should win. With this strategy, you’ll be reaching untapped timelines.
Promote your giveaway
Giveaways need constant hype to keep the ball rolling. Stalls in any type of contest lose traction and can become forgettable. You must go beyond personal promotion to achieve a successful giveaway.
You’re in charge of reminding your followers and the social media world that you’re holding a giveaway. Promote your giveaway across social media platforms, repost and re-share your entry rules, and engage with those who are participating.
Borrow the followers of someone else by utilizing partnerships with celebrities and influencers. Keep the personality relevant to your business so you know that you’re attracting your ideal customer. By partnering up with an influencer, you’ll increase traffic and spark engagement among followers.
Give credit to the winner
You spent a lot of time on your giveaway and the winner probably spent just as much time promoting it. Make sure to shine the spotlight on the winner when your giveaway ends. This also legitimizes your giveaway and builds trust for contests in the future.
Be sure to thank all the people who entered and take the opportunity to talk about your plans for future giveaways. For additional exposure, have the winner post a picture with their prize and share that as well.
Books by Michael Ezeanaka