How To Growth Hack Your Business Using Giveaways and Viral Contests
Growing a business can often feel like a bit of a marathon don’t you agree?
And in some cases, it takes months to bring a business up to speed.
But does it have to take that long? Maybe not.
Did you know that a simple, but well executed contest or giveaway can help you grow your business quickly and for relatively low cost?
It’s true, so let’s take a look at how to use giveaways and contests as a ‘growth hack’ to help you achieve a ‘jump start’ to your business growth.
Just do a quick ‘Google search’ for contests and giveaways
There are plenty of different examples of businesses that have been able to grow their e-mail list, social media accounts, and sales with a quick contest and/or giveaway.
• How to Use Viral Giveaways to Grow Your Email List (1500 new subscribers and $5k in 10 days)
• What I Learned from Gaining 3000 Instagram Followers in One Day
• The Sure-Fire Way to Attract Thousands of Subscribers with Giveaways
There are many more businesses that have achieved the same success with a giveaway.
But what’s the secret sauce that makes them so tremendously successful? How do they really do it?
Here’s how to run a successful giveaway and viral contest.
Note: There are specific legalities surrounding giveaways and contests. It’s important to speak to a professional that can help you determine what type of rules and regulations are in place with your provincial or local and state laws.
3 ‘Must Haves’ for a Successful Giveaway
Before running your giveaway, it’s important to organize yourself and begin to put together some goals for the giveaway.
Are you looking to generate excitement about a new product, or are you looking to win more sales?
Are you trying to grow your e-mail marketing list, or your social accounts? What about both?
Here’s a formula that we’ve put together that will help you get started.
1. Have well defined goals
Figure out what key performance indicator you’re going to focus on, and do everything to achieve that goal.
For instance, if you know that you already have a large and engaged Instagram following, why not try and use that to leverage the growth of your email list? Or, try and expand your Instagram following to your other social media accounts?
2. Have an exciting prize
Are you going to be giving away a new product? An entire collection? Money? It’s important to determine what the actual prize will be well before you begin.
Need some creative inspiration for what to give away?
Here are some good examples to get you started:
• A limited edition product
• An entire product collection
• Product(s) from influencers in your market
• Gift cards (Amazon)
• A once in a lifetime opportunity (an African Safari)
One of my favourite examples of this is how ‘The Fifth Watches’ launches exclusive timepieces the 5th of every month.
In addition to that, they promote it by also giving away watches on social media, and in order to be entered to win you have to tag a friend!
3. Use partnerships with celebrities and influencers
Chances are in building your business, you’ve come across some influencers in your market. These influencers can be individuals, or businesses that have a large clout when it comes to traffic and engagement.
Consider working with an influencer in your space to help give your giveaway some extra “oomph” when it needs it.
Putting the Pieces Together and Launching Your Giveaway
Now that we’ve defined the goals of your giveaway and have the basic understandings of how they work, it’s time to start putting it all together and launching it.
Use a Tool to Create the Giveaway
There are plenty of ways to actually create a giveaway. You can simply throw together a landing page and have people share it, and pick a winner at random.
But, that can be quite a bit of a headache especially if you have no coding experience.
That’s why I suggest using a tool to create the giveaway. There are plenty available depending on the type of giveaway you’re looking to run, but I’ve found the most versatile and powerful to be a suite of tools from Wishpond (a Vancouver, Canada based firm) Click Here to set up your free trial account with Wishpond today!
Notify Everyone Involved
While this may seem like a no-brainer, it’s often forgotten when everything begins to come together.
If your prize consists of another product from an influencer, be sure to let them know when you plan on launching the giveaway to ensure that they help promote it too.
Don’t forget to actually email them, text them, tweet at them, or whatever means of communication you need to use in order to actually let them know when the giveaway is live!
Let Your Current Customers Know
If you already have a few customers, let them know about the giveaway and contest too! Chances are, if they’ve purchased a product from you in the past — they’ll be thrilled to hear about getting a new product for free!
Use your favourite email marketing tool (I use AWeber) to send an email to your existing customers to inform them about the giveaway.
Adding a viral loop baked right into the giveaway can be essential toward the success of your giveaway. If you’re able to make an entry method include sharing the giveaway with friends and family to earn extra entries — you’re golden.
Most tools (including Wishpond) do have this functionality built into them, so take advantage of that!
Give Updates Throughout
While your giveaway is in full swing, be sure to update contestants throughout the length of the contest and remind them to complete certain actions to earn additional entries.
Depending on your giveaway, you might be giving away products throughout the duration of the contest too — so be sure to keep anyone updated on those prizes as well!
Shine a Spotlight on the Winner
When your giveaway is finally over, be sure to shine a spotlight on the winner!
You spent a lot of time working on this, and the winner (most likely) spent a lot of time promoting the giveaway for you.
Depending on what product is is that you’re giving away, you can even have the winner share a picture of them with the prize.
A company called ‘Dream Giveaway’ does this incredibly well, by having a dedicated page to show off past winners!
This can help create social proof for your business, as well as be an enticing way to get more entries into your future giveaways.
Now that we’ve taken a look at how to grow your business with giveaways and viral contests, what are you waiting for?
Try running a giveaway now!
Have any other ideas on how to run a giveaway or contest?
Let us know in the comments below.
Mark is author of ‘How To Growth Hack Your Idea To Profits In 21 Days’ (Discover how to take your big idea & turn it into a profitable online business — even if you have no product or service yet & no one knows you online)
Get your FREE download today at: http://MarkHuber.me
And whichever social platform we meet up on again I wish you all the very best of continued success.