Retaining customers with sweepstakes is an extremely cost-effective marketing strategy you should seriously consider.
One of the most important benefits of running an online sweepstakes is retaining your current customers. Based on today’s current climate, now is a more important time than ever to retain your current customers. According to Business.com,
“Retaining customers is important for the long-term success of your business, because it is far more expensive and difficult to acquire a new customer than it is to retain a current one. For example, SignalMindreports that the probability of a sale from a new customer is only 5% to 20%, whereas the probability of converting an existing customer is between 60% and 70%. Additionally, repeat customers spend an average of 33% more than new customers.”
Sweepstakes are a cost-effective way to retain customers. How you ask? Try opting to run a sweepstakes that are marketing only to your email subscribers. This will make them feel special and connected to your brand because you are providing them this opportunity to win. This an easy way to spark the relationship and keep your clientele engaged in your company or brand.
First, you need to figure out what type of prizing to award. There has not been a better time to offer gift cards for your products or services. You already know that your customers enjoy purchasing your products based on their behavior, but they just might not feel they can afford to do so right now. This will incentivize your customers to enter so they can continue to use your product or service. In addition, another great incentive is to offer everyone who enters a surprise and delight discount coupon.
Business2Community agrees that sweepstakes and contests are an effective strategy if done right.
“Engagement, traffic, and now sales are low, which means you might be ending the month far worse than you started it. It’s time to come up with something quick and effective to recover your numbers: why not run a giveaway or contest? When giveaways are done right, they can bring massive results and even help your brand to go viral. One way to ensure your own giveaway does just that is to make it a foolproof lead machine.”
If you are thinking of running a contest or sweepstakes even if you have a small budget and/or short turnaround, Sync Marketing is here to help. Our TurnkeySweeps by Sync solution is fast, affordable, and effective. In addition, our TurnkeySweeps 2.0 has upgraded security features to keep all of your consumers’ data secure. Contact us today.