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Are Giveaways Worth It?

Are Giveaways Worth It?
Are giveaways worth it?

It depends.

We've participated in a variety of giveaway promotions over the years and here is what we've learned...

It's not just about social media: yes, giveaways are an excellent way to get a quick injection of followers. But that's not necessarily an immediate revenue driver. We've had the most trackable success with implementing an email capture component into our giveaways. This is typically in the form of an opt-in web form that allows us to grow our email marketing list via giveaway signups. This works for multiple reasons... 1) we now have a direct line of communication with a new audience. 2) This allows clearer ROI tracking capability to evaluate future giveaway promotions, and 3) it adds an extra line of defense against scammers. 

look out for scammers: when a giveaway gets enough traction on social media, it is nearly always inevitable that scam accounts will emerge claiming to be your business. Be aware of this, and make sure warnings are a part of your giveaway verbiage when launching. It's important to be very clear about how the winner will be notified, and what information will not be requested. 

partnering is always better: our most successful giveaways have been in partnership with other brands. This will provide a wider reach and get your brand / products in front of new audiences. With that being said, not all brands make good partners. Be sure there's some audience overlap, along with shared values and ethos.  Our most successful giveaways have been in partnership with local brands that sell to a similar demographic. This will also ensure subsequent collaborative content is still on brand. 

paying for leads isn't a sure bet: yes, promoting a giveaway via a sponsored social media ad is enticing. Wider net, more reach, more leads. But in my experience, the quality of these leads is very poor. That doesn't mean this strategy doesn't work, but it's important to keep these leads segmented and keep a close eye on email stats to ensure there's no negative impact on deliverability due to engagement. Be quick to scrub your list if going down this path. 

everyone can be a winner: while the giveaway will end with one lucky winner, this is still an opportunity to promote your product to a captive audience. Offer a consolation prize to all participants, whether this is an exclusive discount, gift card, etc. It's appreciated and it works. 


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