Date post: | 10-May-2015 |
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Entertainment & Humor |
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VOICES HEARD MEDIAThe Leader in User Engagement Applications
Increasing Contest ROI
OUTLINE
• Why Run a Contest?• Projecting a Contest’s ROI• Common Mistakes• Best Practices• Case Studies
WHY RUN A CONTEST
Traditionally companies run contests on their website or Facebook page and are looking to achieve one or more of the following goals:
• Capture Leads• Increase Word of Mouth Marketing• Increase Facebook Likes
PROJECTING ROI
ResearchA recent article came out in the September Harvard Business Review. The article is titled “Better Customer Insights – in Real Time”.
The article analyzed what increased a customers relative likelihood of purchase. The results may surprise you!
ConclusionsBased on this research, the assumption can be made that appearing on a users’ social network falls somewhere in between ‘Word of Mouth’ results and ‘Seeing the Product in Friends Home’ results.
Thus, when a user shares a brand’s content to their social network it directly impacts the bottom line.
Visit to Store
Visit to Website
Seeing Product Friends Home
Word of Mouth
TV Ad
Direct Mail
0 1 2 3 4 5 6 7 8
Likelihood of Purchase
PROJECTING ROI
Measuring the ROI• Number of New Users to the Website• Number of Email List Registrations• Increase in Search Engine Rankings
Calculating ROI:• Multiplying website new users by average
sale per web user• Multiplying new email registrations by
average sale per email list member• Calculating cost of buying leads and then
multiplying that number times the number of registrations
COMMON MISTAKESMistake Number OneContests on the web are typically simple entry forms with winners chosen by random drawing.
Why is this a Mistake?This type of contest accomplishes the goal of capturing leads. The problem however is that anyone that enters this type of contest is more likely to win when there are less entries.
Participants therefore are rewarded for not telling others about the contest. This is exactly the opposite affect that the business is trying to achieve.
COMMON MISTAKES
Mistake Number TwoLocation, Location, Location! Most companies select to run a contest on either their website or their Facebook tab. Why?
If the goal of the contest is to reach as many people as possible, why should the business self impose limitations? The goal is to be everywhere and reach as many consumers as possible.
When companies run a contest only on Facebook, three problems will occur that limit the ROI of the contest :
• Facebook Tabs cannot be viewed on mobile phones.• You never want to send traffic away from our website if
the user is already there.• There is no way to pull users back to the businesses’
website!• If the links do not direct traffic back to the businesses
website then there will be no SEO benefit
Winners Based on Number of VotesInstead of choosing winners at random, ask the user to enter by adding a photo, creating a video, or (as the example shows) “Tell Us Why You’re Alicia Keys #1 Fan”. The winner was determined by the number of votes.
The participant now has incentive not only to register to win, but to share their entry to their social networks and recruit friends and family to vote for them! This has the following effect:
• Dramatically increases sharing• Increases traffic to the website• Increases return traffic –
• Participants return to
the site to see where they are ranked
BEST PRACTICE – MISTAKE 1
BEST PRACTICE – MISTAKE 2
Be EverywhereBy placing a contest on a Facebook Tab, a website, and on a mobile site or app, a business is able to reach the user wherever they happen to be.
Testing Different Marketing Methods and MessagesDifferent marketing methods and messages can be used to see which location, method, and message provide the maximum results.
Examples:• Facebook Ads for the Facebook tab• Email Blast for the website• QR codes in store for mobile
Modify OptionsThe other option you have is the ability to make slight modifications in how the contest is set up.
Example:Website – only requires entry formFacebook tab – requires the participant to ‘Like’ the page and fill out the entry form
MEASUREProbably the most important item - and least done - is the measuring of results. This data can be used to optimize your next contest and compare results.
• Engagement Rate – How many unique visitors that viewed the page interacted with the application
• Sharing – what social networks and percentages• Return Visitors from Shared Links• Location – Which parts of the country or world were
reached• User Report – Collection of contact information and
agreement to future email newsletter
The Challenge Spark Magic! Moviefone found it could use the Voices Heard Media contest as a promotional tool to create a viral campaign across the web. Among its most successful social events was a contest inviting visitors to submit a video (embedded as a YouTube video) demonstrating why they were the Number 1 Harry Potter fan.
The Results• 30,000 unique visitors on the page in 7 days• 18,000 interactions (votes, comments and submissions)• 300 ‘shares’ on external social media sites (200 via
Facebook)• 37 video submissions
The leading video had 1.3 million YouTube views within 10 days! The winning video was featured on URLesque, Perez Hilton, and by many other sites and bloggers.
AOL Moviefone - Harry Potter Fan Contest
CASE STUDY
The Challenge Create an event to increase website traffic and promote Alicia Keys’ concert in New York.
The Results• 15,000 Shared Links• 40% of website traffic was from shared links• Surpassed Alicia Keys own website in search engine
results for the duration of the contest
Tell Us Why You’re the #1 Fan
CASE STUDY
The Challenge AOL Canada wanted to get users signed up to their newsletter.
They set up a VHM trivia product as a contest, requiring users to sign up for their newsletter in order to play the trivia game and also be entered to win a trip to see the Smashing Pumpkins. They placed the event on their website and Facebook Tab.
The Results• 52.71% of unique visitors entered• 1260 Registrations
Trivia as a Contest
CASE STUDY