One of the easiest ways to attract more customers and grow your brand awareness is doing a giveaway. This method not only encourages existing customers to patronize you again, but it also draws new ones. However, if this technique is not implemented correctly, it can have a negative impact on a company’s overall productivity and growth. How do you know your giveaway approach is going to convert? Take a seat and read on.
To start with, your giveaway strategies determine your result. According to a recent study, only 55% of business owners have a digital marketing strategy for their company. Of those surveyed, 24% said they frequently face difficulties in selecting the appropriate tool or technology to implement their strategies. This demonstrates that a lack of plan is one of the reasons why most organizations perform below expectations. Given that giveaways are one of the tactics businesses can use to boost sales, it might be claimed that not all firms participate. If you’re a business owner who wants to use the power of giveaways to attract more people to your firm, read on for a detailed explanation of how you can achieve this:
Plan your giveaway
There is no such thing as a successful giveaway that happened by chance. As a result, planning is the first stage in ensuring that your giveaway achieves your primary goal. Before this would happen, you must have geared your strategies toward reaching the giveaway’s main goal. Make sure you do your homework and plan ahead before deciding on the participant, the product, and the pricing. Also, get advice from business professionals. This will help you to gain a better understanding of how to approach the giveaway program.
Set the time limit for the giveaway
Giveaways are not something that runs over a long period of time. Except you have a lot of products to feature in your giveaways, it is not advisable to allow your giveaway to run over a week. Even within this time frame, not everyone who participates will gain. Also, you don’t want to run a giveaway that will have a negative impact on your business overall performance. As such, it is advisable to set your giveaway within a specific time frame. This way, your consumer knows when the last entry will be made and won’t bother you with unwanted questions. “In some ways, contests are all about supply and demand,” explains Jonny Videl, owner of Viral Contest Marketing. Demand will always rise when supply is restricted. This shortage, especially when combined with a short deadline to enter the contest, makes the giveaway prize highly desirable.
Examine your social media accounts
Review the social media platforms you’ll be using to promote the contest. Typically, each platform has its own set of guidelines for running a giveaway. Checking this ahead of time allows you to adjust your giveaway language to the appropriate pitch for each social media platform. When you do this, everything about the competition runs smoothly.
Ensure your giveaway tie back to your brand
When deciding on a giveaway price, make sure it’s in line with your brand. This helps to increase the winner’s appreciation of the giveaway. “The best contests feature awards that tie directly back to the firm itself,” says Jay Baer, the founder of Convince & Convert.
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