How many people know your brand name? Your product offerings? Your brand’s values? If you hope to grow your business, you must first nurture your overall brand awareness. Two-thirds of consumers are more likely to buy from familiar brands than to switch to a new one. Even if you provide top-notch products and services, consumers may be wary to take a chance on your brand if they’re not familiar with it. A strong focus on lead generation can raise your brand awareness and land first-time buyers.
What’s the best way to create brand awareness? One bankable method is to host a contest with enticing prizes. Branded giveaways can boost your bottom line by spreading the good word about your company. Here’s how.
Branded Giveaways Increase Social Media Metrics
A primary function of hosting an external company contest is to grow your social media following. When creating the guidelines for contest submissions, integrate branded hashtags into the requirements. Ask entrants to upload photos or videos on your targeted social media channels and incorporate your chosen hashtags.
By structuring your contest submissions this way, you’ll be able to permanently increase your total amount of followers, subscribers and likes across all your social platforms. To entice as many people as possible, make the entry requirements clear and offer an exciting prize. Choose a marketing goal from the onset. If you want to generate leads, require entrants to include their contact information and like your Facebook page or follow you on Twitter.
Branded Giveaways Establish Your Brand as an Industry Leader
Utilize your contest to establish your brand as an authority in your industry. Prospective buyers are more likely to buy your products or services in the future if you tout an exciting prize that markedly improves the winner’s lifestyle or business.
For example, if you own a small web design company, you could offer an SEO-optimized and visually-captivating website to the winner of your contest. Place a dollar amount on your prize so more people understand the potential payoff. This helps them see the value in investing the time to submit an entry. A prize that reads “a brand-new website valued at $3000” sounds more alluring than simply “a brand-new website.”
If you create a contest that puts prizes directly in the hands of the winners, you can further boost your brand’s visibility. We previously ran a trade show makeover contest in which the winners received new banners, table covers, display walls and branded company swag for their upcoming trade shows. This prize improved their operations and helped us demonstrate how effective our promotional products are in the trade show environment.
Branded Giveaways Foster Loyalty With Existing Customers
When you demonstrate loyalty to your existing customers, they’ll usually return the favor. Customers who are loyal to brands will spend up to 17% more if they feel heard and appreciated. You can run a branded internal contest to easily connect with your existing customer base and make them feel valued.
Maximize your purchases-per-acquisition by offering exclusive discounts, free services or early access to an exclusive product launch. Exclusivity makes an existing customer feel special and will keep them engaged with your brand.
Branded Giveaways Increase Impressions
Depending on the scope of your contest you can also reward runners-up with branded giveaways, whether it’s a calendar, t-shirt or office accessory. These giveaways make entrants feel appreciated and ensure the time spent entering the contest wasn’t wasted.
In addition, these giveaways featuring your logo act as long-term pieces of guerilla marketing that will raise your brand awareness. A single t-shirt can generate more than 2,400 impressions over the course of its lifespan.
Raise awareness, build brand loyalty and generate new leads by hosting a company contest with exciting promotional products as prizes. Need help planning your contest details? Contact your HALO Account Executive today.