The holiday season is one of the busiest in all industries, mainly e-commerce and other online enterprises. This is because there are a lot of purchases over the holiday season, as consumers usually buy gifts and other necessities that are on sale during this time.
As much as your aim as a business owner during this period is to have profitable holiday sales, you must equally consider how your business grows throughout and after the holiday. And one of the most effective ways to increase your online business is through contests, especially in a season like this when competition is high.
When appropriately executed, contests and giveaways are fantastic marketing tools that may build engagement and increase traffic to your business. You can use a contest to boost brand awareness and reach a larger audience, generate more website clicks, promote your brand on social media, and ensure a high customer retention rate.
Without a doubt, consumers love freebies, regardless of the period, it's been done. However, the holiday season generally increases contest participation because the gift-giving mindset makes getting a reward for doing a few social media tasks seem more conceivable.
How Contests & Giveaways Help Your Online Business
You may be asking why you should hold a contest for your business, especially during the holiday season. Here's why.
Of course, many competitors also attempt to increase sales and grow their businesses during this period. However, offering freebies is one approach to stand out and make customers remember your business beyond the holiday. Your competitors are providing various discounts, and what's better than a good deal? A free offer.
So, how does organizing a contest and giving freebies help your business?
Running a contest gets people talking about your business while also providing you with free promotion through word of mouth. This effectively increases traffic engagement, reaches new audiences, grows social media followers, and records more sales.
Furthermore, contests help consumers feel a sense of belonging and feel connected to your brand, which is essential for customer retention and grows your business at a viral rate.
Now that you know how contests can help your business let's talk about how to hold a contest that can help your business grow this Holiday period and beyond.
How To Grow Your Business With Contest
To grow your business through contests and giveaways, you should focus on the following:
Have A Goal
It will be a waste of time and effort if you do not have a clear goal for your contest. You must have a goal in mind and that the contest is geared toward accomplishing that goal. For example, a goal might be to increase your email list over the holidays to market your new product to a broader audience when it launches.
However, there are three primary objectives that your business may wish to attain. And you can choose one or all three as your goal for this period:
- Brand recognition: this introduces your business to a new and broader audience. With brand awareness, your business will have a more established social presence with new followers and subscribers to your email lists.
- Increased engagements: this results in more significant interaction with your brand by encouraging consumers to take action, such as commenting on a social media post, reading a blog piece, or signing up for a website.
- More sales and customer retention: this is the ultimate goal of any business. A contest can help your business increase sales and earn more customers who return for additional purchases.
As a result, it is essential to define a goal for your contest to effectively track its progress.
Decide On Your Prize
The reward of your contest determines the level of participation from consumers. The more enticing your prize is, the more participation you will get. As a result, offer a prize reward that will make your target audience interested in your product, even beyond the holiday season.
Ideally, your contest reward should be consistent with your brand and provide your target audience with a taste of your products. However, you can decide to give out several other prizes that would be significant to your business growth. Therefore, it is essential to consider if the reward will attract the ideal audience for your business.
Decide On Entry Requirements
The entry mode must be one of the most significant considerations for contest participants. This is because the easier the entry criteria, the more interested the participant becomes. For example, if your goal is to increase your email list, your entry demand should be, at most, asking for a participant's email address, as the more work a participant needs to do, the less interested they get. However, it would be best to consider your ultimate goal while determining your entry requirements.
Launch At The Right Time
Timing is an important consideration. You must launch your contest and offer what is relevant to the time of year. While it is critical you launch the contest at the correct time, you should also avoid extending the duration. You don't want people to lose interest in your goods because they have to wait for their awards for an extended period. The shorter the time, the higher the urgency to participate and win, and the faster your intended goal is achieved.
Choose A Giveaway Platform
Knowing where to hold your contest is just as important as actually doing the contest. First, you must select a platform where your target audience is or where you are already established.
Most online businesses use various social media platforms to provide content and educate their audience. You do not, however, have to host your contest on every platform at the same time, as this will make evaluating the results difficult. Choosing a platform for your contest will also assist your business in obtaining more followership, which could lead to a paying customer.
Meanwhile, to effectively manage your contest and giveaway to achieve your desired result, you will need a giveaway tool to manage the process, as this will eliminate the laborious process of verifying if participants meet the requirements, validating if all tasks are completed, and selecting winners from a large number of entries.
That's where the Cwallet Giveaway Tool comes in; to help you streamline the process from beginning to end while allowing you to customize the contest as you wish.
The Cwallet Giveaway tool automatically validates your contest across any social platform, selects winners in a random draw technique for a provably fair outcome, and shares prize rewards automatically for a proper and more straightforward procedure from start to finish!
The Cwallet Giveaway Tool was designed to help your business grow by allowing you to create custom social tasks that drive engagement and traffic to your brand. You also don't have to perform any activities manually because the tool automatically verifies all tasks and only considers participants who follow the rules for the draws by using a provably fair algorithm.
A giveaway is an excellent option if you're looking for a way to get some extra traffic and sales during the holiday season. By offering exciting prizes, you can keep up the holiday spirit and reward your customers simultaneously.
This will help your business in the long run by generating positive word of mouth and boosting customer loyalty. Plus, it's an excellent opportunity to acquire new customers. Grow your business this holiday and beyond with contests. And with the Cwallet Giveaway tool, you can achieve your goal seamlessly and grow your business.
Click here to learn how the giveaway tool helps you grow your business.