When it comes to prizes, in the last 12 months we’ve given away the equivalent of thousands of pounds to online followers. The prizes we’ve given away in the past range from a free coffee voucher to a trip to Australia, and the lower cost prizes are just as popular, if not more so than the expensive ones.
It might seem that giving away a luxury holiday or a car is the key to gaining new followers or boosting the customer database, but in reality, the prizes that really catch the eye come at a low cost but pack a punch with their perceived value.
If a customer is spending £4 every day on their Gingerbread Latte, and also constantly seeing memes about how much they would save over the course of the year if they didn’t – the idea of a freebie is appealing, especially if all it takes is a comment on Facebook when they’re scrolling anyway.
Money can’t buy prizes like exclusive film merchandise are always popular, given the high perceived value and the chance to have something no-one else has.
Shopping vouchers, freebie meals and leisure passes can easily attract thousands of entries in the first few hours of posting.
But most people will happily tell you they never win anything. If the prize feels unattainable and the entry process is arduous, the payoff just isn’t there. If the stakes are too high, they will scroll on by. There’s a fine line to how much data they will give you in the hope of winning a prize.
Ultimately if a follower wins with you, they get a warm glow when they think about being the winner. They tell their friends. Those friends they tell have an improved perception of your brand. They seek you out because they can now believe in being a winner – after all, they know someone who is. The more that can be achieved with simple, low cost prizes, the better for the budget!
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