Small businesses can choose to spend their small Marketing budgets in a number of areas – Print, Digital, Radio, Advertising, Directories, Outdoor and many more. It can be a confusing web of options. Which method reaps the highest return on my investment? – Discard all those options and organise a competition.
Social Media is a perfect platform for running competitions – your competition is the magic bean and Social Media is the beanstalk. With careful organising you can get the competition entrants to grow your company’s Marketing, boost brand visibility and increase sales – here’s 4 ways your Small Business can leverage the benefits running a successful competition.
1) Free Marketing
Firstly ensure that the topic of the competition compliments your own strategy – If you’re a hairdresser, then offer a pair of GHD straighteners, if you’re an Accountant offer a year’s free advice and so on. And of course you’ll need to promote the competition to the relevant audience – just make sure your prize is appealing.
Once you’ve decided on the finalists, run a voting system then watch Social Media explode! It’s amazing to see finalists of a competition embark on their own campaigns to get votes from their followers, meaning your company can leverage ALL connections from ALL their Social Media networks. Every time a finalist posts on Social Media – your company is included in the links resulting in driving traffic to your website. Once they’re on your website, enquiries and sales are a cert.
2) Build a Database
When collecting votes for the finalists of the competition – make the voters enter their email addresses so you can build a database of relevant prospects. Once you have built the email list you then need to align this with collecting Social Media details to build a complete profile of prospects.
Run a special voting day on Facebook, whereby people can simply click LIKE to place their votes. Now you can match the names and email addresses collected earlier to the Social Media profiles. With access to more in depth information about individuals you can build a picture of your ideal customer profile resulting in improved segmentation and targeting.
3) Build Authority
Running a competition with a reasonably high cash value (or cash) will help to build credibility in your field allowing you to become a trusted company in your field. Linking back to my initial advice, ensure you align the competition with your own company strategy. For example if you’re an Accountant who specialises in small business, then run a competition for the “UK’s Best Small Business” or something similar.
By making your company synonymous with a specialist area, you can build authority and become trusted and credible in your area of expertise.
When you launch your competition a key element in your strategy needs to be integration. Although Social Media is the key channel, ensure you adopt a multi-channel strategy. Place ads in relevant newspapers, advertise digitally and raise awareness of your competition – you need to lead people toward Social Media by integration.
Therefore by integrating your competition marketing and integrating the way you collect information from entrants and voters you can build a fully comprehensive database of prospective clients. Only 1 company can win your competition, so everyone else is a potential sale.
Have you ever run a competition on Social Media? Any horror or success stories?