27 Mind-Blowing Statistics On Giveaways And Contests In 2023
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Giveaways and contests are the millennial versions of interactive content types. They’re not only extremely fun and engaging but also a great gift to marketers. They are cost-effective and the right way might extend your social reach by a great manifold. Giveaways and contests help you generate leads, engage your customers and increase your audience reach, all at the same time!
They have become a common strategy in businesses across industries. And we have got our data to back us up. So now let’s talk numbers, shall we? Here are some great statistics on giveaways and contests that will tell you all about them.
Best Practices :-
- The best duration for your campaign is 90 days.
- The best time of the year to launch contest campaigns is in June and in November.
- Contests have an average of 10 fields in their participation forms.
- The social media auto-fill option in participation forms can increase conversion rates by almost 189%.
- The majority of social media giveaways run for less than 7 days.
About The Market :-
- Entertainment is the topmost industry to run contests, followed by music and technology.
- The average price of a contest prize is $369.
- Travel offers are one of the most popular categories to be given as a contest prize.
- Only 0.56% of all Instagram posts are Contests.
- Contests with prizes of $1000 or more receive an engagement rate of 5.8% per 100 followers.
- 78.4% of contest shares are done on Facebook. On mobile devices, Whatsapp devices stand out at 17%.
- Active promotions have an average cost per click of $0.18.
- Close to 89% of industries are using video contests to promote their products and services.
Customer Behavior :-
- 33% of contest participants are open to receiving information about the brand and partners.
- Contestants spend an average of 2:30 minutes on a contest app.
- Contests have a conversion rate of almost 34%, which is higher than other content types.
- 94.46% of the time users share the promotion immediately after they register.
- Of the total participants, 62.13% share the promotion with a friend in order to suggest that they take part too.
- 53% of participants of contests are male while 47% of participants are female
- 68% of the participants are above 18 years old. The average age of participants is 30.
Benefits Of Contests :-
- An average of over 34% of new customers are acquired through contests.
- Brands gain an average of 17500 fans through organizing these campaigns on their fan page.
- Instagram accounts that hold contests grow their followers 70% faster on average than accounts that don’t
- Instagram contests get 3.5 times as many likes and 64 times more comments on average than regular posts.
- Active promotions get 15-1769 clicks, with 226 on average.
- Contest emails have an average open rate of 8.8%. That is 5.5% more than the general average of commonly used email marketing campaigns.
- Contests have a 3.7% higher conversion rate as compared to other CTAs.
Looks like we learned a lot about giveaways and contests! They’re great as lead magnets and have proven to be great for brands and marketers. But statistics are not all. There’s so much about giveaways that we still haven’t talked about. And we’re sure you have the questions. But for now, you can click here to create your first giveaway!
Antara Agarwal is a full time marketing consultant at Outgrow. She can be found packing her bags for her next trip, often to the mountains. And in one of those bags you will always find a half finished book she’s been struggling with for months.