Influencing with Giveaways: Separating the Myths from the Facts
Just how do social media competitions influence consumers? TAMBA conducted research with people who enter competitions in order to provide insight into the use of competitions as a marketing strategy. The results shed some interesting light on myths surrounding competitions and social media. This is what they found:
- A ‘typical’ participant in competitions is in their thirties and works full time.
- More than 60% of respondents do not have children under the age of 18. Those who do have children under 18 have one to two children.
- The vast majority of people who enter competitions are not bloggers.
- Social media was reported as the most popular platform for entering competitions, with 87% of the respondents saying they used this channel of participation.
- Facebook and Twitter are by far the most popular social media channels used for entering competitions.
- 68% of the respondents admitted to entering competitions on a daily basis.
- Interestingly, almost half of the respondents share brand content on their social pages every day.
- Competitions increase consumers’ interaction with a brand and increase brand content that is shared on social media. Importantly, competitions also significantly influence consumers’ awareness of new brands and their brand purchasing decisions.
- Competitions have a positive effect on brand perception and word-of-mouth recommendations. In fact, almost 3 out of 4 people are more likely to recommend a brand that offers giveaways and competitions.
- And the drawback? 72% of people are frustrated by unwanted spam from the brand following a competition.
These research results challenges many assumptions and myths that were previously associated with brand giveaways and competitions. It’s no longer about stay-at-home mums or bloggers. We can no longer dismiss competitions as having little significant impact on brand perception, awareness and buying decisions. In other words, luxury brands would do well to take this information into account when developing their brand strategies.
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Tags: luxury marketing, luxury marketing strategy, social media marketing