Including Sweepstakes in Your 2021 Marketing Budget
So, 2020 just happened…Let’s try to quickly put it behind us and begin planning for all the positives 2021 will hopefully bring. With more certainty of a better year ahead, marketers can now put more of their focus on finalizing a marketing plan and budget for the new year. Today I will discuss three reasons why including sweepstakes in your 2021 marketing budget is a good idea.
1. Effective ROI
With a turbulent 2020 in the rear-view mirror, you should look forward to what will give you the best return on your investment in 2021. Low cost, high reward campaigns are a great starting point. Sweepstakes are known for being an affordable yet effective marketing strategy. Sweepstakes and contests allow you to engage with your consumers, obtain new email subscribers, and leave them both feeling appreciated.
“… marketers might prioritize ROI over other metrics and avoid high-risk options. Flexibility is key, and it’s time to reevaluate your marketing budget so that it actually meets your company’s needs.” – Hope Horner from Business2Business
2. Social Reach
Running a social media sweepstakes or contest can greatly increase your follower base, create buzz and produce usable UGC. And in a year people are using social media platforms to connect now more than ever, it’s a simple and effective way to build your base and connect with those already in your base. In the article, 23 Mindblowing Statistic on Giveaways and Contests in 2020, Outgrow mentioned that 34% of new consumers are acquired through social contests and brands gain an average of 17,500 new followers through organizing these campaigns on their page.
For 2021, I would recommend running social media campaigns where you ask your consumers to tell their story. People want to share and want to connect, so give them a platform to do so. If you’re still in need of ideas for what type of social media sweepstakes to run, check out this Sync article where we discuss the top 5 social media sweepstakes ideas to engage consumers.
3. Consumer Loyalty
There’s never been a better time to reward your loyal and dedicated consumers than after a year where a majority of people’s budgets were stretched thin. If they have stuck with you, now’s the time to give back. When running a sweepstakes or contest, we always recommend giving away many smaller prizes and a larger overarching grand prize. The large prize will attract consumers and the smaller prizes will give back to more people. In addition, for 2021 we highly recommend surprise and delight offers to every consumer who participates. This is the time to give back and thank your consumers for hanging in there with you. Here, Clickz discusses why customer marketing is important for 2021.
While we could list many more reasons as to why including sweepstakes in your 2021 marketing budget is a good idea, we feel that after a crazy year, simple is better. Connection is key…so connect, listen, and give back to your consumers.