Is Marketing Through Giveaways Effective?

The struggle of deciding your next promotion strategy for your business haunts you for weeks or even months until you figure it out. So, after months of contemplation, you’ve landed on the idea of doing a giveaway. After all, it seems like it could have some perks to it… right?

Well, you’d be correct. While there’s a specific strategy required, you can easily implement one that works for you with your giveaway to drive more awareness and traffic to your business. Let’s take a jump into the game plan.

  1. Strategize from Beginning-to-End

While it may seem like a no-brainer, many entrepreneurs make the mistake of doing giveaways without first doing all their research. Even prior to the launch and attention of your giveaway, you want to have a solid plan on how you intend to drive traffic to your store and monetize by converting them into sales.

  1. Identify Your Buyer Persona

Part of developing a fully enriched business and product is setting up a buyer persona. This persona represents your customer and should be categorized as your “ideal” customer. If you have more than one buyer persona, that’s okay too. It’s perfectly normal to have more than one type of buyer, especially in more generalized niches.

Use this buyer persona to develop an idea of what gifts will pull the most attention from viewers. This helps avoid aimlessly spamming users to follow you or trying to sell them a product they’ll never purchase. Your buyer persona starts the journey for your giveaway.

  1. Develop a Contest Strategy

Using your buyer persona, you need to develop a strategy for the giveaway. How will they enter the contest? Are there any rules and regulations you want to apply, such as a limited amount of submissions?

These are the questions you need to make sure that you are asking yourself during the curation of your giveaway. The more engagement you can show your users, they will return the favor by turning into loyal customers in the future.

  1. Never Forget Submission Forms

One crucial reason companies do giveaways is to help them further develop as a company and get leads the organic way. Giveaways give you the opportunity to collect information such as name, phone number and email address for future correspondences, providing you instantly with relevant leads.

Relevant leads mean you’ll have a higher success rate with turning the leads into conversion. All it costs, in this case, is your grand prize. Pick a product that’s useful only in your niche and people interested in it to get the most relevant leads from your submission forms for the giveaway.

  1. Keep the Instructions Clear

Sure, you’ll have to find a lawyer to help you put together all the legal jargon to help prevent people from calling your giveaway unfair. However, you should still make the rules clear and transparent for your participants. Always refer them back to the terms of agreement and have them sign it (e-signing it by a click or an Adobe signature).

If your giveaway seems hazy in the least, you’ll run into a huge issue. Not only will it stall the growth of the giveaway, it could also cause the current leads to change their mind about shopping with your company entirely. Make it simple and clear for the best user engagement.

  1. Have Fun with It

Even though you’re hosting a giveaway, it’s no reason for you to not to have fun with it. When you’re having fun with it, you’ll generate more interest among potential customers. Don’t take the contest too seriously and encourage everyone to participate. Let them know they have an equal chance at winning, as with everyone else. This will provide them with enough comfort to go ahead and fill out the submission form to enter.

Stay engaged with your customers as much as possible. Higher levels of engagement during a giveaway will get your followers talking on social media. Their contacts will see them talking with you, possibly turning more people into potential leads.

  1. Keep a Firm Deadline

Giveaways shouldn’t last or drag on for too long. The point is to establish leads, which can be attained in more than a month. Having a contest last longer than this will generate less interest and become irrelevant as the end date gets closer. You don’t want to lose the focus of these leads, so keep the deadline firm and reasonable.

Giveaways Can be an Asset to Your Marketing Strategy

The dynamics of marketing has changed drastically in the past decade. Inbound marketing strategies within the online marketing niche has made it much easier and convenient for business owners to build up with relevant leads. The outreach on the internet is massive, so giveaways help with making an impact on the web and gaining relevancy in your niche as a leader and innovator.