How Giveaways Work and 4 Steps to Get You Started
Giveaway, an old tool used in the modern world
In the world of marketing today, there a lot of tools, gimmicks and activities, a good marketer can utilize. In this article, I ‘ll cover the concept of giving away your product or service (or part of it) for free.
At first glance, that looks simple and straight forward. You decide on a product to give away, you create the content, you distribute it through your existing channels and 💥.. customers will run through your front door swinging.
But how can you get new customers or customers that don’t even know you get interested in your products?
The solution is simple, you need to utilize an existing established channel of another business. The most common and effective way is to find an influencer to do the heavy lifting for you. You can how & why that works in a similar blog post here.
Now, let’s see how you can make this happen in 4 easy steps below
1. Giveaway Prize 🏆
As the first step, you need to decide the prize you want to give away.
There a couple of options you can choose from and each one of them has a different effect on the campaign and on your business.
The first option is to give away a “hot” product that you really want to increase customers attention on it. The result will be an increase in traffic on website, social media and sales for this product.
Your second option is to giveaway a wash-out or low-value product. This will work as a gateway product for your business. Meaning multiple users will have a taste of what you offer and possibly come back for more.
Last but not least, instead of product giveaway you can get the influencer to promote a specific discount code for your products.
Although the last option gets you the least brand awareness as it’s an out front attempt to sell your products, you can measure exactly what’s the ROI of this marketing campaign will be.
2. Customer Persona 👩🔧👨🎨
Let’s suppose you have a variety of products that appeals to different audiences. But you are only promoting a single product through this giveaway You need to identify exactly to whom this product appeals more.
Is it for women only? Professionals? Maybe parents? This step is crucial cause you need to find an influencer that already has a strong hold on your target audience. More on that on step #4.
3. Budget 💸
Because you give something for free doesn’t mean, it doesn’t cost you anything. You need to set a maximum cost you want to allocate to this marketing activity.
After all, this is a marketing campaign and rarely an influencer will promote your product for free. This directly affects the number of users that are gonna see your giveaway & probably participate. The higher engagement an influencer has the higher the cost of this promotion will be.
Most influencers have specific pricing for giveaways. For example, Kylie Jenner makes $1million per paid post on Instagram while she is one of the most followed accounts on the platform.
The cost isn’t always 💰💰💰. Micro-influencers or influencers that are focusing on reviewing multiple items are happy to promote your giveaway as long as you let them keep a sample for themselves. This is a huge opportunity for small businesses as you can imagine.
4. Find the perfect influencer 🙌
The last step is to find the perfect influencer to execute the giveaway campaign for you.
The selection should be based on your three previous steps. Meaning, the influencer should a good match for the product you want to promote, has good engagement on your target audience and most importantly doesn’t break the bank.
This process may feel a bit hard and not streamlined but that’s where tools like Storyflare come to play.
We can help you find the perfect match for your business for any Influencer marketing campaign you want to run. Follow this link to find more or contact me directly to email@example.com for any question you may have.
Giveaways are a very powerful tool that any business should utilize. Its effect may not be always straight forward but the social engagement and brand awareness you generate is substantial and that’s why more and more businesses utilize influencers.
You can also find here a comparison of Influencer Marketing vs Fb ads here that we ‘ll make you wanna try it right away!
If you have done it before you know what I am talking about. If you haven’t you should definitely try it yourself and experience it first hand! 😉