The Business Benefits of running online competitions.
As a business you will be desperate to develop an identity, a unique selling point outside of the simple diurnal “buy and sell” transactions and customer interaction. A great way to do this is by adding a few extra caveats to your marketing appeal, and one particularly successful method could be through running giveaways and competitions. The internet can be viewed as an ocean of advertising potential to an ambitious business. The places it can reach seem infinite and in turn the potential of getting something valuable for free is a great lure for the public.
How should I run the competition?
Well, firstly you need to set the competition up correctly. You need to make the prize seem attainable in order to boost its attraction. Therefore you don’t want to be asking mind-boggling questions as a condition of entry. Make the question simple, or better still don’t ask a question at all! At William May one of our recent giveaways involved a beautiful Daniel Wellington watch, a prize that many potential entrants covet. The question was posed on facebook and read simply “Would you prefer a classic or modern timepiece?” You provided your answer and consequently you were entered to win the watch.
What did they gain from this?
From running competitions such as the William May example, a business stands to benefit from:
- Increased brand awareness. Competitions are a great promotional tool and can provide a launching pad for increased consumer interaction and exposure, all under positive circumstances.
- Increased traffic to the website. Linked in to brand awareness, the internet profile of a company will increase in the event of a successful online competition.
- Increased sociability. In the modern age, connectivity and social media are dominant business factors, and by allowing your business to be social, you allow yourself the chance to appeal to a wider audience.
- All this, of course, could and should lead to increased sales and ultimately increased profits. Competitions are designed to give a marketing push, generating good will towards the brand. Competitions can be fantastic medium for new companies looking to establish an identity and generate buzz.
What should I be wary of?
Make sure you lay out the terms and conditions of your competition clearly on your website, facebook page, twitter or whichever platform you are launching it from. Allow for as little ambiguity as possible. By making every detail crystal clear you reduce the risk of any negative repercussions such as confusion over the question, deadline for entry or age of prize winner to cite some examples. Clarify the details completely and make the competition simple, winnable and attractive. By doing this, you should hopefully produce a win for a member of the public, and a marketing victory for your business.
This was posted in Bdaily's Members' News section by William May .