All posts in “Competitions”

event marketing

How to use Event Marketing to Explode your Lead Generation results

Ask any marketer what the most important marketing objective they need to deliver for their organisation, and up on top of the majority of lists would be effective Lead Generation. There is a multitude of marketing tactics we can use for lead generation (at Peazie we should know, we created a platform to deliver the most innovative and effective conversion campaigns). However sometimes in marketing, especially for those us in the B2B space, you just can’t beat the personal effect you get from Event Marketing.     

 

What is Event Marketing?

Event Marketing is the process of developing an exhibit or display (eg. trade show), or presentation/speaking event, or a combination of both as a way for a business to promote their service, product or organisation. Event Marketing is super powerful as it allows a business to leverage in-person engagement.

 

How Does Event Marketing Work?

Events usually have participants, a host, and sponsors. As explained below each play an essential role in the execution of the event:

  • Participants or attendees are ideally the final consumers of the product or service that is being promoted through the event. Attendees to an event can be:
    • Individuals making a purchase for themselves (B2C), or
    • Representatives of a company making a purchase on behalf of the business (B2B).
  • Hosts can be defined as the owner of the organiser of the venue. You can host or attend an industry event with a third party host.
  • Sponsors can vary depending on the type of business event you are attending:
    • Trades Shows Sponsors are the companies that bring a product to sell and help to pay the expenses of the event.
    • Presentation/Speaking Event Sponsors pay to be featured in the promotional material, event banners and are usually mentioned by the organisers to the attendees sometime during the event.  

 

If you are hosting the event, you will likely be a sponsor, but you can also solicit other sponsors and limit attendance only to companies who choose to help with your budget. We actually did this ourselves last year when we sponsored and presented at ‘Perfecting your Promotion’, a fantastic event held by our friends at Plexus.

 

Why is Event Marketing Such a Powerful Tactic for B2B Lead Generation?

Event Marketing is the is the bread and butter of the startup or growing B2B-based company. The more that you get in the field, the better your sales will be. Most B2B reps like to create a personal connection to ensure the longevity of a relationship before committing.

 

Each type of event has different strengths as to why they are so powerful for lead generation:

 

Trades Shows:

  • At Trades Shows businesses send representatives to events for the express purpose of meeting good partners – there is usually no such thing as a window shopper at events that cost money to attend.
  • You also have a chance to really spread your message far and wide. Big banners, loud displays and expansive promo efforts work well at trade shows.

 

Presentation/Speaking Events:

  • At Presentation/Speaking Events if you happen to be one of the presenters you have the amazing opportunity to have the whole room of people attention focused on you. (Make sure to provide lots of value with your time on stage, and NOT be too salesy)
  • If you are not a presenter there are still plenty of lead generation opportunities open to you at these types of events. You can sponsor the event which is a great way to get your brand’s name out.
  • Make sure to take advantage of the networking opportunities. Networking is key, make sure to talk to the person sitting next to you, talk to people between breaks, and also make sure to mingle at the after event drinks.

 

At these events make sure you have a plan of how you are going to collect your leads contact information. Are you going to give away a free trial or sample of your product or service? Maybe you can give away a small gift, or give people the opportunity to win a major prize. Remember in order to receive a leads contact details like a name, phone or email you need to offer value in return.    

 

What Goals Should Your Event Marketing Strategy Have?

You are likely spending money when you engage in event marketing. Your number one priority should be extracting a return from the experience. Set a budget and an expected return, and stick to your plan so that you will have the best chance of meeting your ROI.

 

ROI does not have to be revenue generation; as a matter of fact, redefining ROI as a certain level of lead generation is usually a better strategy. Bigger sales usually have a longer sales funnel.

 

In summary, event marketing is great for lead generation as it allows you to gain clients more quickly, and you create a more personalised relationship. Not only that, but you end up spending less money generating leads because you can focus on business reps who are showing real interest instead of waiting on clickthroughs. Nurtured right these leads can turn into long-lasting relationships.

 

rolls of blueprints

Perfect Planning: Before and After the Promotion

The success of a promotion in any industry depends on the implementation of some general strategies that are relevant in all corners of business. Here are a few vetted tips that you can use to help improve the viability of a promotional campaign.

 

Before the Promotion

Are you sending the right traffic to your promotion landing page? You must be sure that you are optimising your target audience by streamlining it directly at a single source. Believe it or not, this is the way to expand your reach. You can also employ a multitiered strategy by using Facebook Ads, a PPC campaign and an email campaign that will bolster your overall exposure if executed concurrently.
Make sure that your traffic is targeted; the wide net strategy is not viable in any market. The more precise you are in targeting your niche, the better your promotional campaign will be. Make sure that you find your first responders at their preferred location as well.

 

During the Promotion

You must set the key performance metrics that you are looking to fulfill so that you can properly direct your promotion when it is in its active stage. This will help you to strategise your concept, making it more appealing to the audience that will be most likely to act like you want to fulfill your business objective.
Your campaign should also take advice from your previous campaigns – there is no reason to overlook the lessons that you have already learned in the past. Finally, remember that one of the most effective ways to create a higher conversion rate is to choose an engaging incentive and mechanic. Pay attention to how your audience responds to your lead ins!

 

After the Promotion

Do your customers know exactly what you want them to do after the conversion action? Are the directions on your promotion clear? Continue to direct your customers after the initial conversion, and make sure they receive what they opted in for.

 

Also are you using social media or emails to continue to drive customer engagement after the active promotion is over? Target the most enthusiastic of your new converts and empower them to spread your brand like an informal PR team.

 

These tips will definitely give you a leg up for your next promotion. However, here at Peazie we have run a few campaigns in our time. To create the ultimate competition that delights your customers and brings a value there are a host of things you need to think about from creative and data-driven campaign concepts, administration and permits, design and building, to tracking and optimising. Peazie has a reputation for partnering with top brands in many industries for creating premium promotion campaigns. With over 250 clients on board, Peazie has experience across the board as well, ensuring that your promotional campaign is built on the successes of the past!

 

Compass on spreadsheet

Campaign Tracking: What it is & How to use it

What is Campaign Tracking?

The modern methodology of campaign tracking goes back to a company named Urchin Software Corporation, a data management company that was acquired by Google in the year 2005. Urchin created the standard known as the UTM, or the Urchin tracking module. This tracking module sets today’s standard for campaign tracking, which is the organization of relevant data that comes from your social media pages and other promotional efforts.

Campaign tracking can take on any form that you wish depending on the key performance metrics that you set. If you are looking for the answer for how to increase company revenue, you will track a particular set of data. If your goal is conversions or impressions, the campaign of data that you track will be different.

Basically, you are putting eyes on the money that marketing says that you should spend. R&D and IT might have a point – those guys DO get carte blanche to say anything they want. No more! The data never lies.

 

How Do You Use Campaign Tracking?

Use campaign tracking to quantify your assumptions about how your key performance metrics are being met or not met. For instance, if you are trying to find out which social media network deserves more of your marketing dollars over the new quarter, then you should probably determine the network that drives the most traffic to your landing page. The secret is to focus your efforts on the data that is most relevant to the goal that you are trying to achieve.

Use tracking for bragging rights. If your marketing guys get into a friendly competition about who gives the best predictive analysis reports, bet on the next data tracking campaign – loser has to set up every report in Excel for the next month!

 

Why Use Campaign Tracking?

Not only does campaign tracking give you a benchmark for future predictions that are based in data, but you also give yourself a more effective platform on which to move in your current business efforts. When you are trying to sell a business, your tracking will come into question. Investors are just as interested in how you gather your data as they are in the data itself. Each channel that you are comparing can have its ROI tracked, so you can compare apples to apples for whatever metric you are trying to find.

Tracking solves arguments. Forget about office politics – take it to the spreadsheets. Data will shorten the time that your people spend talking about empty strategy and move people towards a singular goal, one that is agreed upon by the dispassionate computer. Save the emotions for the happy hour bar!

 

When Should You Use Campaign Tracking?

In short, use tracking whenever you can. It always costs a company less to analyse data than it does to play trial and error with marketing and development strategies. “A stitch in time saves nine,” as Aesop might say, meaning that “an ounce of preparation is worth a pound of cure.” Yes, it is bad form to define one pithy, taboo quote with another pithy, taboo quote, but you get the point.

Peazie is fast becoming an industry choice for promotional campaigns because of its ability to quantify analysis through quality campaign tracking. We organise campaign tracking for each promotion and competition we create. We manage the campaigns from end-to-end and advise how to optimise your traffic during the campaign to ensure the best quality leads, and highest amount of leads.    

 

perfecting your promotion

6 KEY takeaways from ‘Perfecting your Promotion’

A couple of weeks ago Peazie had the pleasure of presenting at the ‘Perfecting your Promotion’ event held by our friends at Plexus. It was a great turnout with many insights into how to leverage data to improve your promotions. For everyone who couldn’t make it here are the top 6 key takeaways from Peazie’s presentation:

 

1. Lead with the benefit

“Win XYZ” (what you win) should be your headline act, not “Buy XYZ” (the behavior you want to change).

Peazie has run thousands of campaigns, so we know what works and what doesn’t when it comes to writing headlines for a promotion. Clearly stating what a person will be gaining from entering the competition always works a lot better than using a headline that states why you want them to enter your competition. Remember everyone’s favourite radio station: WiiFM (What’s In It For Me)

 

2. Simple entry mechanics

Remove as many barriers to entry as possible. Do NOT run games of skill. You can ask for more effort or data from a consumer, but make it simple and fun otherwise your audience will ‘bounce’.

This is very simple to understand, the more barriers and friction there is to someone entering your competition, the less likely they will enter it. Our job as marketers is to design a promotion that removes as many barriers as possible.

 

3. Perceived attainability outweighs total prize pool

Counter intuitively, 10 x $10 performs better than 1 x $1,000… And instant win out-performs grand prize draws every day of the week – because we humans are impatient.

Having a large grand prize drives a lot of attention for a promotion, however we have examined the data from running thousands of campaigns and it consistently shows offering multiple smaller prizes actually gets more conversions. Reason being when people think the odds of winning is in their favour they are a lot more likely to enter a competition

 

4. Decide what’s more important – quantity or quality

Whilst cash drives the highest quantity customer acquisition, an incentive that is only of value to a good customer will drive better quality customer acquisition. If possible, measure the quality of your acquisition in real-time and optimise against it.

We have tried many different prizes over the years, we know cash works well with a mass audience. The freedom of choice that cash brings leads to a higher conversion rate. However when working with a niche target market, choosing the right prize, that is highly valued by the entrant will give them the incentive needed to supply their personal information to enter the competition.

 

5. Measure everything and optimise

3 banner ads targeted at 3 different audiences driving people to 3 pages = 27 campaign variants. Without exception, One of those variants will work MUCH better than another. Tech has made this level of real-time optimisation easy.

One of the biggest advantages of being a marketer in the digital age is that there are multitude options for advertising platforms. Platforms such as Facebook and Google Display Network allow great targeting, great reach, and multi-variant testing options. Ads should be tested, measured, and then optimised for ultimate performance to drive the best quality of traffic to ensure a highly successful campaign.     

 

6. Repeat your successes

Again, modern tech has enabled us to step-and-repeat great promotions. As marketers, we also know that frequency drives recall and saves us cash – so if you can avoid building a new promotion, step and repeat an existing success.

The reason Peazie can give any business a competitive advantage is that we have collected data on every single campaign we have conducted. We know what works, and what doesn’t, and you can be rest assured any campaign we create for you will apply the latest in data-driven promotion design.

 

Horn speaker for public relations sign symbol, vintage color - sun with blue sky

How to Promote your next Competition

Social media gives marketers more leverage than ever when promoting a competition. Organisations now have the ability to precisely target their audiences and present them with quite a compelling case for attendance complete with audiovisual advertising options and real time, two way communications. Here are some of the best modern platforms for promoting a competition.

 

Advertising on Facebook

As the number one social media network online with 1.5 billion profiles, Facebook is a must for any promoter. However, Facebook also allows promoters to drill down quite deeply into a niche audience using Facebook Groups and Pages. On Facebook, a promoter can set a budget and the target audience for a campaign with incredible detail, ensuring the highest ROI for the money spent.
Facebook also allows a promoter to build an audience organically based upon the success of an ad campaign. Not only can a promoter drive attendance for an individual event, but that promoter can also build a page of constituents that can be accessed directly, without any additional marketing spend.

 

Remarketing

Remarketing is a relatively new yet very popular technique that allows a promoter to “stalk” a potential customer online using the cover of anonymity. Remarketing actually ensures that your ads are placed on the other pages that a potential customer visits after leaving yours. This is a great way to follow up on people who bounce away from your website without purchasing a ticket to the event.
Remarketing is shown to save up to 90% when compared to other marketing techniques. Potential customers with initial interest but who do not convert simply need more time in some cases, and remarketing allows you to stay on their minds while they gather their funds, set their schedules, etc. Best of all, the ads are completely innocuous – they show up in the same places that ads normally show up on the pages that your potential customers visit. You also are relieved of the responsibility of following these people around the Internet – the algorithm does it all for you.

 

Email Techniques

As taboo as email may seem, it is still one of the most reliable forms of promotion available today. The response rate for email campaigns across the board is incredibly consistent. You can perform very precise calculations based upon your outreach, and you may even be able to predict turnout to a degree for potential investors to your company or sponsors to the individual event.
Emails are also more robust than ever. It is quite an easy thing to put in audio clips or video snippets alongside engaging text to draw attention to an event. You also have the ability to automate email campaigns more than perhaps any other type of campaign, meaning that you can set follow up emails to send themselves at a later date without using any additional manpower.

 

Social Influencers

Social media has bred many popular characters who cultivate their own audiences. In many cases, engaging the “social influencer” gives a promoter access to an entire audience. The social influencer is known for his or her discernment, and a word from that person usually carries more weight than a traditional ad. Some forward thinking companies are even inviting social influencers to host or MC competitive events, bringing attention to the event through the performance of the host.

Source of Strength.

4 Ways to Supercharge your Startup Marketing

For startups, finding budget friendly ways to supercharge your marketing strategy is crucial. Very few startups have the luxury of a big budget, and navigating the minefield of marketing buzzwords can lead to a whole lot of wastage, and very little ROI.

To point you in the right direction, here are 4 ideas to help supercharge your startup marketing.

 

1. Create regular, useful content to help, not sell.

Content marketing is one of the most consistently misunderstood elements of a marketing strategy. Traditional sales techniques and ideologies suggest any “content” should show off the best features of the company, the product, and the brand. But in this day and age, that’s simply not effective anymore. In a world where a quick Google can give you pages and pages of data on an individual, it’s more important than ever to cut through the sales talk and aim to help prospects and readers.

To find effective and impactful content, you need not hire a copywriter or professional writer. Instead, use the knowledge and expertise of your existing team to develop content that matters to your customers, and can position your team members as experts within the industry.

 

2. Use video to engage customers and leads

Video is one of the most versatile ways to engage with your customers and leads. The great news is, video has never been more accessible than it is right now. Whether it’s posting regular vlogs on YouTube, Stories on Snapchat and Instagram, or live streaming a Q&A, exploring video platforms is a great way to both engage your existing community and provide value to others.

 

3. Use competitions to drive awareness and build your database

When it comes to generating leads, and increasing brand awareness, few ways are as effective as giveaways, promotions, and competitions. Historically, if you wanted to build a database it would have cost you the earth, and taken a whole lot of manpower. The good news for startup marketers is those days are behind us, and with promotions and competitions, it’s now easier than ever to collect data and drive leads in your marketing funnel.

For us here at Peazie using competitions and promotions are some of our favourite techniques. We have used our platform to power thousands of successful promotional campaigns, helping companies across Australia to reach their database growth, lead generation and sales goals.

 

4. Be part of the conversation

One of the most effective and valuable marketing strategies to drive both brand awareness and trust is to engage in real conversations with prospects, leads, and customers.

Whether it’s commenting on customer’s blog posts or engaging in a discussion around one of your expert topics, your goal should be to have valuable conversations with the individuals who ultimately make up your community. There is no hard and fast rule here, and no secret to success. Simply be authentic, be yourself and genuinely want to have a two-sided conversation.

Close up of a happy young women working together

Does Prize Value Impact Conversion Rates?

Choosing the right incentive is crucial for your competition. It sounds obvious, but it’s surprising how many get it wrong, spending thousands on a single prize in the belief that value – in a financial sense – will lead to increased conversions.

 

It might surprise you to know this is simply not the case. In fact, our data suggests that a single, more expensive prize in the $5k – $10k bracket drives around 10% fewer conversions than a simple $50 gift certificate. So here are a few things to keep in mind before you drop your entire marketing budget on your next huge prize.

 

Perception trumps reality

 

Perception is everything, regardless of the facts. As a competitive species, we gravitate toward scenarios where we are most likely to win. So even if the odds of winning a car or holiday are the same as winning the $50 gift certificate, for some reason the perceived odds favour the less expensive prize.

 

Give it a go! In your next competition, try offering something simple, over something lavish and expensive and see for yourself.

 

Volume trumps value

 

Another interesting takeaway from our data is the impact prize volume has on conversion rates. Having more than one prize up for grabs, even if they are lower in value, has a huge impact not just on conversion rates, but also on referral conversion.

 

Thinking about it logically, this makes perfect sense. Although we are competitive, we love to share experiences. After all, there’s a reason social media is such a big business. So while a single prize plays on our competitive streak, multiple prizes play on our want and need to share experiences within our communities, and friendship groups.

 

Goals trump everything!

 

When it comes to any campaign, it’s important to keep your business goals in mind. The majority of our clients seek to drive conversions and optimize conversion rates. If that’s your goal, spend $500 on 10 gift certificates, rather than $5,000 on something outrageous.

 

You can read some of our case studies here!  

 

Sometimes you might want to give away something lavish and outrageous, be it for PR or simply to improve brand perception, and prestige. Let’s face it, a $50 gift certificate won’t carry the same prestige as giving away a holiday, or a car.

 

If your business goal is to increase prestige, you’ll likely do better with a more expensive incentive. However, if you are dead set on a lavish, expensive giveaway, but worry about conversions, up the volume with some less expensive consolation prizes.
We hope these little golden tips help you understand how competitions can be run better. If you are still hungry for knowledge, get in touch with us at Peazie!

 

 

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Why Use Social Platforms for Competitions

We already know that social media is essential to our digital marketing campaigns. Take a moment to process this: approximately 70 million photos are shared on Instagram every day, around 6,000 tweets are sent every second, and there are currently more than 1.5 billion active Facebook users.

 

With that in mind, it’s always a surprise when marketers have doubts about social. Particularly when compared with other avenues such as email marketing and inbound content.

 

Don’t get us wrong, email marketing and inbound content both have their place. However, when it comes to competitions, few avenues offer the reach and conversion rates that social media can. Here are a few reasons why social platforms are a great way to promote competitions.

 

Social is engaging

 

When we are consuming on social media, it’s fair to say we are not busy. In fact quite the opposite. We are actively seeking content to engage with. It doesn’t matter if it’s for entertainment and escapism, or something that strikes the right chord at the right time. The point is, as social media consumers we are poised and ready to click. All we need is to be convinced!

 

Social is trustworthy

 

Facebook is the most widely trusted source of branded content according to Acquity Group’s 2015 Next Generation of Commerce Study. Not only was Facebook ranked higher than all other social platforms, but it also crushed email, niche websites, TV and even print. What’s more, nearly half of all respondents aged between 18 and 50 admitted to trying a new product or service as a result of a social media campaign.

 

Social is shareable

A study by the New York Times found that “73% [of respondents] share information because it helps them connect with others who share their interests.” We have evolved to be a social species, and sharing helps reinforce our relationships. Conversion mechanics that reinforce and reward this natural sharing behaviour helps you cast a wider net. Campaign reach is by no means the decisive metric, but having a bigger pool to fish from can have a significant positive impact on the number of conversions your campaign yields.
So now it’s over to you! Social platforms have become a staple and trusted method of modern communication. By using social platforms to promote your competitions, you can significantly increase conversions and reach of your campaigns.

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Top 4 Analytics For Competitions

As marketers, few things are as important to us as actionable data. Data influences major campaign and strategy decisions. So if you’re approaching your next campaign, you’ll no doubt be keen to know which analytics you should be tracking.

 

Collecting and understanding the right data can help illustrate what works, and why it does. Having this knowledge means we can get the most success from all our campaigns, but knowing which metrics to track can be a bit tricky. So to get you started collecting the right data, here are the top 4 analytics marketers should track with competitions!

 

Traffic Source

 

Knowing where your traffic is coming from, means you can optimize your campaign more strategically. Data from the source highlights which of your promotion avenues drives the most traffic, offering you the opportunity to optimize and focus more on high traffic sources and increasing visitors to your campaign!

 

As a side note, understanding your traffic source data can be used for future campaigns too, because it offers a great way to show where your audience is most likely to engage with your brand.

 

Entries

 

The majority of competition campaigns aim to generate entries. It’s a pretty fundamental part of running a competition! So it makes sense that a metric showing the number of entries should be a partial indicator for success.

 

The crucial element here is tracking which is the right entry mechanic that aligns with your campaign objectives. For example, if your objective is to generate more leads, a ’25 Words’ competition might not be as effective as ‘Click To Win’. Similarly, if your goal is to increase brand awareness, a ‘Share For Entry’ mechanic might be your best bet. The hot tip here is to experiment and keep track of the results. This way you will learn what works best going forward!

 

Conversion Rate

 

Conversion rate is reliant on 2 other crucial metrics: Entries, and Visitors. And is often used as a go-to KPI to illustrate the overall and ongoing success of a campaign.

 

Conversion rates are the percentage of campaign visitors who entered your competition, in relation to the number of visits. Understanding conversion rates is also critical to A/B testing your campaigns, offering the opportunity to understand the impact of incremental changes.

 

Cheeky self promo: We are guns at improving competition conversion rates.. See for yourself here!

 

Visitors

 

Access to accurate visitor data is super crucial, more so than any other metric! For any marketing campaign, unique visitors are an essential foundation for analysis. It is the basis that every other metric is measured against.

 

Conversion rate is the relationship between converted visitors (entries) and visitor traffic. While traffic source would have less impact without knowing how many people actually visited.

 

Your campaign analytics hinge on accurately showing how many unique and return visitors your campaign has received.
Hopefully this has inspired you to improve your competition analytics tracking! Still have questions or need help? Get in touch with us at Peazie!

Low angle view of business team on starting line in the office,

Why All The Competitions?

By our very nature, humans are wired to be competitive. Competition is in almost every aspect of our lives, from sports and business, through to dating.

 

We’re surrounded by millions of brands, all asking us to ‘share to win’, ‘like to enter’, or ‘fill out this form for a chance to win’. With so many different competition ideas out there, if you’re not using them we understand if you think you’re missing out. Because you’re probably right!

 

If you’re stalling, and aren’t sure if competitions are for you, here are a few pros and cons to give you the inside track!

 

Pro: Generate brand awareness and engage with new customers

 

One of the biggest and most obvious benefits of running a competition is that it can generate a ton of new leads. After all, you’re tapping into our natural impulse. Everyone loves free stuff! For many this outweighs the potential barrier to entry that comes with sharing personal data.

 

Con: Some leads may only be interested in the prize

 

The caveat to generating new leads with your competitions is they may only be interested in winning. In reality, these are the “freebie hunters”. The people who have no interest in your brand, or purchasing from you. But the silver lining is running a competition offers you a way to make the freebie hunters work for you, and by leveraging competition mechanics – such as “share for increased chances of winning” – you can generate bucket loads of awareness through their networks and connections.

 

Pro: Improve SEO

 

One lesser known benefit of running online competitions is the impact it can have on SEO.

 

As you may know, a major aspect of SEO ranking is the number of genuine links that point toward your website. Asking entrants to share the competition on social media is a great way to increase the number of inbound links to your website.

 

Con: Rules and regulations

 

This is one of the biggest hurdles in running a competition. If this is a road you haven’t been down before, it can be a long process, and it is a bit of a minefield.

 

Knowing what is allowed, what is frowned upon, what is a breach of relevant state or international regulations, and getting it done quickly can be a bit of a headache.

 

Don’t worry though, all of this scary stuff can be easily taken care of by us here at Peazie!

 

Pro: Nurture your existing leads

 

Perhaps counter-intuitively, one of our favourite benefits of competitions is less about new lead generation and more about nurturing and converting existing leads.

 

We all have that percentage of our audience who don’t like filling out a form, avoid signing up to a newsletter, or might not be too keen on a white-paper. They are the little nuisances of our funnel who lurk in the shadows and consume, but are rarely engaging and are rarely converting. Cheeky little buggers!!

 

Running a competition is a great way to nurture and encourage stalled leads into action by appealing to their hard-wired competitive nature.

 

So if you haven’t run a competition yet, get in touch with us at Peazie! On your marks, get set, GO!