Contests tend to be very profitable. The best way to determine what your budget should be is to work backwards. Once you’ve determined a realistic goal for your contest, ask yourself what the outcome is worth to you. Is a $500 guitar worth 50,000 new social media followers or 50,000 email addresses? Don’t forget to factor in a small cost for advertising or creating a landing page for a specific promotion.
What are the rules of your competition?
This may seem obvious, but the rules and regulations of your contest are really important. You’ll need to set details like age and location restrictions, deadlines, and end dates. Will you allow entrants to leave more than one comment? Will the winner be chosen randomly or based on the number of likes? Can existing customers enter the contest or is it just for new ones?
What are the rules of your competition?
Read also: Distribution of elephants, or How to conduct a giveaway on social networks?
Launch of the competition
Once you have defined your goals, chosen a prize, and written philippines phone number data down the rules, it is time to launch the contest. A successful contest has several components. The main ones are promotion and a landing page for collecting participants' contact information.
Social Media Advertising Campaign
Social media is the most effective way to advertise your contest, both in terms of reach and cost. So create multiple posts about it for each social network. Be sure to include all the important details, such as how to register, a link to the landing page, information about when the contest ends, and who can enter. Don’t forget to include a photo of the prize – this will be a great motivator for participants. And make sure that your post text and images are optimized specifically for the social networks you are advertising the contest on.
Social Media Advertising Campaign
If you have a limited budget, you can launch your campaign without spending money on advertising. But this will come with certain limitations. First, the algorithms used by most social platforms will hide your posts from some of your audience. Another limitation is that most of your current audience may already be your customers, so your contest will not bring you any new leads.
If your budget allows, paying to boost your posts to a wider audience can significantly increase your reach. The cost of boosting these posts can vary slightly depending on how many people you want to reach and how granular your targeting is .