Contests have long been used as promotional tools by businesses, even before the time of social media. Now that we live in a time where almost everything is internet-driven, however, the tactic has become more effective in expanding your consumer base by tenfold.
Whether you’re running a contest, a raffle, or sweepstakes, you’ll be able to not only inadvertently market your product or service but also increasing your brand awareness and market exposure. And while contests cannot solve every marketing challenge, it should definitely be part of your overall strategy. Here’s why:
Contests help you build a large community.
Building a community organically takes months or even years. When you run a contest, you’ll be able to blow up your following to tens and thousands without putting in much effort. This would be possible if your contest involves a lower barrier to entry, allowing pretty much everyone to participate whether they’re part of your target audience or not. The prize alone incentivizes people to follow your brand in exchange for a chance to win.
Contests let you engage with your target audience.
Social media marketing is not just about likes and a large following. After all, what’s the use of having thousands of followers if no one is engaging with your page? Contests are a great way to drum up engagement as they encourage audience interaction. And when you have a spike in engagement rate, the social media site’s algorithm will most likely show your posts to more people moving forward.
Contests are cost-effective.
Compared to other marketing tactics, contests are quite cost-effective. The bulk of the cost is typically only on the prize you’re giving away. Even if you turn your contest into a sponsored post, you can adjust the budget depending on what you can only afford. But if you’re planning on running a huge contest involving bigger prizes, you may want to hire promo contest managers to make sure that everything runs smoothly.
Contests can be a rich source of data.
The possibility of an exciting prize entices people to share information as part of the entry process. This lets you know your customers better, which can help in shaping your marketing strategy in the future. You can ask them about how they heard about the contest, if they’re familiar with your brand, what their favorite product is, and so on. Just make sure not to introduce too many barriers, lest you want them to feel uncomfortable and refuse to enter the contest.
Contests can help increase your sales.
While the primary purpose of a contest is to increase your brand visibility and build awareness, it’s also a great way to turn visitors into paying customers. Since the contest will reach many people who have not engaged with your business before, it will put you on their radar, allowing them to see what you’re offering and buy your product or service.
Whatever industry your business may be in, contests are an effective tool to bolster your marketing. Should you need help designing and running a successful contest, get in touch with our promo contest managers in Boston today. We’re happy to help.