When running a business, there are times when you’ll need to increase awareness of your company. There are a variety of different ways to do this, from standard advertising to increasing the time you spend on social media. However, much has been said about these topics before, but relatively little on the benefits that a giveaway might be able to bring to your business.
What is a Giveaway?
Hosting a giveaway is simple. People enter into the competition, and then a winner is selected. That winner receives either a product that you make, or a trial of services if you don’t manufacture products.
Why Would a Business Want to Give Their Products/Services Away for Free?
There are numerous reasons why a giveaway can be an excellent idea for visibility:
- You raise awareness of your company to customers you might never have been able to target. There are entire websites and forum sections dedicated to giveaways and competitions, which you can submit yourself to. This will bring in a flood of new visitors who come for the giveaway, but will now know your business exists — and will then think of you in future.
- Giveaways are easy to promote on social media, and can make it seem like your company is willing to “give back” to its consumers.
- When customers enter into a giveaway, they have to submit details such as their email address. Provided you comply with privacy policies – and always offer an opt-out — this could be a quick and easy way of getting new eyes onto your mailing list.
- The above is also true if, as a requirement to enter the giveaway, you ask that people follow you on social media.
- You also bring a lot of happiness to the eventual winner and may convert them into a future customer.
Is it Worth it?
If you run a giveaway for a small fortune in terms of products or services, then no. However, giveaways can be a useful addition along with other forms of marketing. Keep the value of what you offer as a prize relatively low, and you will undoubtedly find it a cost effective way of generating leads.
What Problems Can a Giveaway Cause?
Managing a giveaway is not simple. You have to coordinate entries, pick a winner, notify that winner — it’s not a quick half hour of work and then you’re done. If you run the giveaway yourself, then it helps to use tools such as virtual time testing to ensure entries close at the right time. You will also need a mechanism to help select a winner, which can just be an old-fashioned tombola or something like a Rafflecopter.
Does a Business Have to Host a Giveaway Themselves?
If you don’t like the sound of all of the above, then one option is to approach a blogger relevant to your niche to see if they would host the giveaway for you. Many have plenty of experience at this, which can be beneficial.
However, bloggers aren’t going to do this for free. They will expect at the very least a duplicate of the winning prize to keep for themselves. Larger bloggers will ask for financial compensation for their time too — so it might be best to run one yourself initially, and see what kind of increase of visibility it brings to you.
Do you think you would ever host a giveaway?