Approximately seven in every 10 Americans uses social media (that’s about 70 percent of all people). It’s clear that as a business owner, you should be using the various social platforms to help your business grow and succeed.
However, sometimes, posting information, resources, and updates about your business isn’t enough to pique the interest of potential customers. When this happens, you must branch out and use social media in different ways.
One marketing tactic that is proven effective is to host a social media giveaway. Keep reading to learn about some specific benefits offered by social media contests for your business.
1. Improved Brand Awareness
The main objective of creating a contest or promotion in social networks is that your brand gains more visibility. Who doesn’t like the possibility of getting something for free?
With a contest or give away (especially one that makes sharing a condition of winning) you will get the attention of people you couldn’t reach in the past.
2. Increase Engagement
Some people make the mistake of thinking the most important part of social media marketing is profile followers and page likes – that’s not the case. The most important aspect is engagement.
Social platforms, such as Facebook, emphasize audience interaction. Engagement refers to how many people are talking about your business or brand and it affects the algorithm used to determine if other people see what you post, too.
By nature, contests encourage comments, retweets, follows, and shares, which are all elements of good engagement. Remember, though, you can’t rely on contests alone for engagement. You need to post engaging content, too.
3. Improve Customer Loyalty
If you use social media, you have seen contests and giveaways hosted on these platforms before. A great way to achieve customer loyalty is to give out discount codes or coupons that work for a temporary basis.
By doing this, you can build a closer and more lasting relationships between your customers and brand. Itwill also encourage them to share positive reviews and recommendations about your business, which can go far in attracting new customers.
4. It’s an Affordable Marketing Strategy
Compared to other marketing strategies, hosting a contest isn’t expensive. Most of the cost is related to what you plan to give away.
Even the cost to make your contest sponsored in a social media site is minimal. If you use a paid app to promote your contents, it’s a one-time expense, and you can use it each time you hold a contest. However, the engagement you can generate with these contests are well-worth the investment.
5. Ability to Acquire New Customer Data
From a market research perspective, contest participants are a great source of information. You can use your contests to get consumer information for email marketing efforts in the future.
If you are still working on developing and defining your target demographic, or are trying to redefine it, a contest provides you with valuable insight. You can even include questions in the giveaway asking about consumer interests, habits, and other information.
Should You Host a Social Media Giveaway?
If you should host a social media giveaway is something you have to consider carefully. Take some time to review the benefits here to see if this is right for you and your business.
If you need help creating a contest, or with any other part of your marketing plan, contact us. Our team of professionals can help you achieve your marketing goals and maintain your marketing budget.