Executing a Facebook giveaway campaign is one of the best paid social strategies a business can implement to boost brand awareness, interact with consumers, drive site traffic, and generate leads that turn into sales. No matter the size of your business or the size of your prize, consumers love anything that is free and are willing to give their information for a chance to win. With the right goals, giveaways can be extremely successful and have numerous advantages.

1. Grow your network.

Promoting a giveaway campaign with Facebook ads is a quick and easy way to build your social media following, especially if the giveaway requires the consumer to like your Facebook page to be entered. Contenders will then be linked to your page and subscribed to upcoming updates at least until the winner is announced.

2. Generate leads.

Giveaways allow you to get valuable customer information in which most could be viable leads that turn into sales and even life-long customers. You now have helpful information about potential customers that you can use and take advantage of in your next marketing strategy.

3. Build audience or email list.

The contact information you receive can be its own audience you can target directly, especially if they were interested in winning your product rather than an unrelated prize. These emails can be added to your email marketing campaigns to keep them informed about your products and services, which this alone could grow your audience immensely. Targeting the leads directly doesn’t stop there! You can also build lookalike audiences based off the emails you’ve received and extend this audience further based on their data.

4. Save time AND money.

Giveaways are simple, straightforward, and do not require much time to plan or implement. In addition to their quick start-up, they are also low cost. Talk about a win-win! The generated results usually involve huge engagement in a short amount of time. This is because there is a deadline to enter which creates a sense of urgency to the consumer. This also contributes to a lower cost overall and cost per lead for the large amount of traction you can expect to receive.

5. Boost brand exposure.

Giveaways create buzz and also word of mouth about your company in a positive way. Sharing the giveaway will allow the company to be exposed to a whole other audience and many other markets which is great to expand your reach. Even if someone is not interested in winning the specific prize, they will now be familiar with your brand name and may be interested in other products or services you offer.

6. Drive site traffic.

You can drive your company’s site traffic immensely by sending them to your website to enter the giveaway. Once the participants enter the giveaway, they are likely to continue to explore the website to see what else the company has to offer and learn more about other products and services that might also interest them. It is common that web visitors will not want to wait for the winner to be announced or see something else they need and buy a product or sign up for a service then.

7. Increase engagement.

Depending on the rules of your giveaway, you can create a huge increase in engagement by having participants like a post, comment on the post, tag a friend, or share. Giveaways are also highly engaging content that encourage viewers to comment on and start conversations. Giveaways ultimately create and engage an online community and are also a great source of entertainment while informing people about the company’s products.

8. Gain a new customer.

Opening up a giveaway especially to everyone and not only your current customers can help you grow your customer base. New customers can potentially turn into life-long customers that will be extremely valuable to your business. Giveaways also easily grab the attention of new consumers rather than a generic ad that is trying to immediately sell them something. Additionally, it’s an effortless way to get visitors to view site and learn more about your company and what else you have to offer.

9. New product exposure.

Giveaways are a great way to launch a new product. Instead of taking the risk of launching a brand new product on its own, companies can easily gauge the excitement about the product and also who is excited about it that they can target further advertising to. Depending on the engagement, companies can then make decisions or optimizations to the product based on the feedback it is receiving.

10. Strengthen relationship between company and customer.

Giveaways build a positive relationship between the company and the customer and give customers a benefit for interacting with the company. The chance to win creates excitement and an optimistic feeling toward the company, which can then carry over to a brighter attitude toward the company as a whole.