Updated: Apr 2
Hi there, I'm Ben. I'm here to read you this amazing article from CM Marketing. Today we're going to talk about Giveaways and competitions. Giveaways and competitions are one of the best interactive content forms of the millennial generation. They're not only exciting and engaging, but they're also a wonderful gift for advertisers. They are inexpensive, and if used correctly, they will significantly expand your social reach. Here are some great statistics on giveaways and contests by Antara Agarwal from outgrow.co:
The best campaign length is between 25 and 60 days.
The months of June and November are perfect for launching contest campaigns.
The auto-fill alternative for social media in participation forms will boost conversion rates by nearly 189%.
About the market:
The entertainment industry is the most popular place to hold competitions, followed by music and technology.
The total prize value for a contest is $369.
One of the most common categories for contest prizes is travel offers.
Contests of $1000 or more in prizes have a 5.8% interaction rate per 100 followers.
Facebook accounts for 78.4% of contest shares.
33% of contestants are interested in learning more about the brand and its partners.
Contests have a conversion rate of approximately 34%, which is higher than other forms of content.
Users share the offer 95% of the time after they register.
Sixty-two percent of all participants share the campaign with a friend to encourage them to participate as well.
Demographics & Benefits:
Male contestants make up 53% of the total, while female contestants make up 47%.
Sixty-eight percent of the participants are over the age of 18.
About 34% of new customers are gained through competitions on average.
Participants are on average 30 years old.
Organizing these promotions on a brand's fan page results in an average of 17500 new followers.
Instagram accounts that run competitions gain 70% more followers on average than accounts that don't.
On average, Instagram contests receive 3.5 times the number of likes and 64 times the number of comments as daily posts.
Thanks for listening to this article. If you'd like to learn more about improving your social media presence, feel free to schedule an appointment with CM Marketing today!