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In a digital world, promotional marketing in the form of a sweepstake is often an effective way to grow brand awareness, generate leads and increase sales. As we find ourselves in such a challenging period of time, such measures of engagement can be invaluable to small businesses as consumers are more technologically connected than ever.
In addition, we’ll go out on a limb here to say that consumers love a good deal. A survey conducted by Statista found that 58% of US adults between the age of 30 and 44 years old felt enticed to take part in sweepstakes by a guaranteed reward. In addition, 42% were motivated by a chance to win over $10,000. The urge to participate in sweepstakes and to find a bargain is a staple of US retail shopping culture. The National Retail Federation found that 89% of US adults shop at various discount stores – a figure that increased significantly during the Great Recession and hasn’t shown many signs of slowing.
These shopping habits are something your organization can capitalize on whether you are a bargain outlet or not. In this blog, we’ll discuss how sweepstakes can work as a promotional marketing element for your business and why you should consider launching a campaign of your own. Let’s get to it!
Sweepstakes are such a powerful marketing tool as they increase both brand awareness and brand interest. Everyone loves winning, right?! Giving consumers the chance to win a good or service creates invaluable feelings of positivity towards your brand. Even those who inevitably are not chosen as winners will likely feel a sense of nostalgia when crossing paths with your company in the future. A sweepstake is only a starting point with your ideal audience or consumer. Utilizing the finite period of time to build a relationship with your audience is key for future sales.
In addition, offering a product or service in a sweepstake speaks to an organization’s confidence in their brand. The organization is displaying their belief that their good or service is valuable to many and delivers on what is promised. In an age where many consumers are restricted to their homes, consider what products your company provides that will satisfy a current need.
We recently talked about demand planning and how now is the time to regroup, communicate with your consumers and plan for the reopening of businesses. What better time is there to build out your company’s lead list? We recommend working to build a new customer lead list now, so you’re ready to hit the ground running. A sweepstake is a fantastic way to gain such sought-after consumer data. How do you go about collecting such data? Create a sweepstake entry form and keep it simple! Sweepstake software provider, Second Street, recommends including the following fields in your entry form:
With this information, you will know more about who your audience is, where they reside and have the ability to deliver additional information about your business, service or products to them in regularity. As it takes roughly 6-8 touches to generate a sales lead, adding a sweepstake to your multichannel marketing approach can add a shiny, new touchpoint in a land of marketing monotony.
Typically, sweepstakes are a cost-efficient tool. However, the setup time to run a successful sweepstake, including the development of an adequate entry form that can be used for customer research and analysis and the development of marketing materials to advertise the sweepstake, can be lengthy. In addition, the good or service given away may also incur significant costs to an organization. We suggest considering the value of the prize given away, the rate at which you will give said prize away (i.e. once, twice per week, monthly) and any associated costs with getting the good or service to the sweepstake winner. But remember, with sweepstakes, perceived value is often more important that monetary value. Offering a prize that is of import to your desired audience is essential to get adequate sweepstake involvement and lead to future brand involvement.
New York has been on “PAUSE” for roughly 50 days now. People have been adjusting their lifestyles accordingly, but with summer drawing near and a definitive end not in sight, general morale is a bit low. We referenced the notion of “winning” earlier. However, simply having something to look forward to and participate in with fellow consumers is a pretty exciting notion at this point in time.
Promoting your brand, offering up a “sweet deal” on a good or service and getting the community involved is a fantastic marketing strategy and good publicity in this challenging time. People are more enthusiastic than ever to get involved and win. Your company should be as well!
Are sweepstakes an effective marketing tool? We think so.
Sweepstakes spur consumer involvement with a company’s good or service, raise brand awareness, speak to an organization’s confidence in their brand, are a fantastic lead generation solution, are low cost and boost community morale.
During a period of time when it is vital to advertise and communicate with current and prospective consumers alike, it can be challenging to get in front of the right audience and get ahead of your competition. A sweepstake offers an organization the opportunity to break the traditional advertising mold and set themselves apart in a way that resonates with US consumers.
Need help with running or marketing your organization’s next great sweepstake? The Times Union Media Group is here to provide expert level help to businesses as a trusted advertising partner. If you have any questions about the Times Union Media Group and what we do, please do not hesitate to drop us a line.