Your path to cheaper traffic, greater brand recognition, increased ROI and more starts with just one word.
And that word is giveaways.
In a recent speech, Goat Media founder and “King of Giveaways” Van Oakes shared the framework he’s used to launch profitable product giveaways for dozens of brands.
Why Product Giveaways? 🤨
First, giveaways are fantastic for getting attention and name recognition if you’re a new brand.
Second, product giveaways generate cheap traffic. After an internal audit, Van found that his clients’ average CPA in the US was just $8.49. More importantly, the last client that they onboarded increased LTV by 62% by running giveaways last year.
Third, giveaways force you to focus on who your customers are and why they buy from you. And they create opportunities to meet your customers in real life and give back to the communities you’re building on social platforms.
Legality 🏛
Every country has different rules for giveaways. In the US, for example, anything under $5,000 usually doesn’t need to be registered with the states. If the prize is more than $5,000, however, the states will want their share.
When you pick winners, you have to do it randomly, and you’ll also need a way for people to enter without making a purchase. You can add an option for people to send in a postcard and enter to win on your rules page to satisfy this requirement.
Pro Tip: If everyone has to pay to enter, that’s a lottery, not a giveaway, and that’s illegal.
Leveraging Influencers 🤩
Influencers are vital to running product giveaways. When you partner with a credible influencer in your niche, you’ll get the engagement you need.
Speaking of engagement, don’t hire influencers based on follower count! Look for high engagement rates – 4% or higher on Instagram, for example – and you’re much more likely to get traction.
Types of Content 🎨
Influencer content should be raw and user-generated. You want a five-second hook, because the average Facebook Ad view time is just seven seconds. According to Van, the best ads today are 20-30 seconds long and include subtitles.
Some agencies manage their content closely, but Van prefers not to provide much guidance beyond a few bullet points so that the influencers won’t sound scripted. They know what will work with their audience, and if they’re incentivized, they’ll produce great content.
Product Giveaways Follow-Up 🧩
Follow-up is arguably the most important part of a giveaway. When somebody doesn’t win, they might get buyer’s remorse. With that in mind, use videos of winners receiving prizes for remarketing. When people see that somebody won, they’re more liable to purchase again.
Giveaways are 100% tax-deductible, and they’re a fantastic way to generate cheaper traffic and build your company culture. Finally, giving back to your community makes a difference, and the impact that you can make matters.
The next Affiliate World is coming up fast! Get tickets now to learn from the world’s top performance marketers like Van Oakes. Each session and event will be full of exclusive strategies and tactics for native ads, Facebook, TikTok, Instagram, ecommerce and more.
