Giveaways and contests are the millennial generations of interactive content types. They’re not only extremely fun and engaging but also a great gift to marketers. They are cost-effective and the right way might extend your social reach by a great manifold. Now let’s talk numbers, shall we? Here are some great statistics on giveaways and contests that will tell you all about them.
Best Practices –
1. The best duration for your campaign is 25 days to 60 days.
2. The best time of the year to launch contest campaigns is in June and in November.
3. Contests have an average of 10 fields in their participation forms.
4. The social media auto-fill option in participation forms can increase conversion rates by almost 189%.
About The Market –
1. Entertainment is the topmost industry to run contests, followed by music and technology.
2. The average price of a contest prize is $369.
3. Travel offers are one of the most popular categories to be given as a contest prize.
4. Only 0.56% of all Instagram posts are Contests.
5. Contests with prizes of $1000 or more receive an engagement rate of 5.8% per 100 followers.
7. Active promotions have an average cost per click of $0.18.
Customer Behavior –
1. 33% contest participants are open to receiving information about the brand and partners.
2. Contestants spend an average of 2:30 minutes on a contest app.
3. Contests have a conversion rate of almost 34%, which is higher than other content types.
4. 94.46% of the time users share the promotion immediately after they register.
5. Of the total participants, 62.13% share the promotion with a friend in order to suggest that they take part too.
Benefits Of Contests –
1. An average of over 34% of new customers are acquired through contests.
2. Brands gain an average of 17500 fans through organizing these campaigns on their fan page.
3. Instagram accounts that hold contests grow their followers 70% faster on average than accounts that don’t.
4. Instagram contests get 3.5 times as many likes and 64 times more comments on average than regular posts.
5. Active promotions get 15–1769 clicks, with 226 on an average.
Looks like we learned a lot about giveaways and contests! They’re great as lead magnets and have proven to be great for brands and marketers. But statistics are not all. There’s so much about giveaways that we still haven’t talked about. And we’re sure you have the questions. So we’ll be waiting to hear from you!