Why should your business run competitions

Running competitions is a valuable marketing tool often overlooked by businesses, yet it can be an incredible way to increase audiences and grow a target market. Many companies and business run competitions and free giveaways such as mobile telephone companies and other media companies. And let’s face it, if these multi-million-pound companies do it, it has to be of some use. The likes of ITV and Virgin Media don’t mess about with these things for no good reason.

Online marketers run online competitions

Online marketers have known, probably since the very start of online marketing, that giving something away is a great way of increasing their following. There are a number of things they do, such as offering online competitions, that pique peoples’ interest. They let people enter and win prizes in return for their email address.

And in the small print, the applicant ticks a box to say that they are happy to hear from the company going forward. This is one of the ways in which online marketers build their email list and win new clients. Yes, there will be a few who will unsubscribe, but if your competition offers enough value, and the prize resonates with your target audience, you’ll be surprised at how many will stay around. And you keep them as subscribers by giving them what they want.

How do people know where to find me?

That perennial question – if people don’t know you are there, how will they find you? Well, there is always advertising, but you do need to know where to advertise. As any good marketer will tell you, that means doing your homework and working out where the people in your target demographic will look. Advertising is not cheap and you can waste a lot of money advertising in the wrong places, so it’s not always a good place to start.

How else can people win prizes?

There is another way of getting your competitions out there that is inexpensive and dramatically increases your brand awareness. A really simple way that won’t take up much of your time. There are some companies that will advertise free competitions for you, or at very little cost. Of course, you need to be careful to ensure that you use a reputable company; you don’t want your brand linked to a business that runs scams.

What are the main benefits?

You can easily check whether the website you are thinking of is reputable by looking at the following:

  • Raise your brand awareness and re-engage with your existing customers
  • Attract new visitors to your website or social media pages
  • Collect valuable data
  • Cost effective as you decide on the prize
  • You can gain valuable insights from your target audience

Other considerations when your business run competitions

Make sure that what you offer is going to benefit your target demographic. By giving away prizes aligned to your audience you can predetermine that entrants will have an interest in the products you sell. Whilst increasing awareness and improving engagement with your brand. In these increasingly challenging times, competitions are very much a marketing tool worth considering.

If you are thinking about running a competition and need any guidance, recommendations or are interested in our media packages then please contact us.