In a guest post, a very well known internet marketer Stefanos Bournias has explored Instagram’s marketing objective for e-commerce and, how your business can take the advantages of Instagram’s giveaways.
Just like the most e-commerce marketers, you also:
Use Instagram to increase brand awareness
Use Instagram as your sales channel
Run giveaways to achieve your overall Instagram marketing goals, but are not sure how to quantify it properly
Giveaways have become an integral part of e-commerce growth on Instagram. A quick giveaway on Instagram can grow your followers 70% faster than any other method.
But, do you know what are the key performance indicators to analyze and how to quantify the result?
The Objective Of Instagram Marketing:
You are probably fully not aware of the benefits of your eCommerce business can reap from running giveaways on Instagram.
So, here are the top marketing objectives outlined by Instagram-
At the top of the funnel, your marketing objectives are all about awareness and consideration. One thing you need to remember that vanity metrics like reach or even likes may not be beneficial for your business’s objective. Instead, your full focus should be building a genuine and active audience.
At the middle and the bottom section of your funnel, your marketing objective should be focused towards conversion. The exact conversion event will vary as it depends on your business’s conversion window and the product you are selling.
Make sure you are fully aware of which stage of your marketing funnel campaign is targeting so that you will be able to determine your objective and quantify your goals.
Setting a goal:
Your goal is very important as it will determine the rules an rewards of your giveaway.
Establish your key performance indicators. This will help you know what you want to achieve and determine if your campaign is successful.
For example, if you want to generate more sales, then your key performance metrics should be your conversion events like add to cart, purchases, etc.
If you have the historical data from the past giveaways, you should use it for benchmarking your goals. If you don’t have data, it could be a challenging job for you to set an arbitrary number. You must be realistic and don’t get demotivated if you are unable to achieve it right away.
Don’t make things complicated by setting multiple goals. Having a single goal is always good as you can focus all your energies and efforts on that particular goal- and you will be able to able to track your performance easily.
In this article, we are going to discuss the different goals that you can set with the key metrics and, the top tips for each one.
Here’s how to achieve your Instagram marketing objective with giveaways-
1. Create A Product Awareness: Showcase Specific Products In Your Giveaways:
If you have a great product to showcase, one of the most effective ways to generate awareness is through giveaways. You can find a lot of e-commerce businesses is doing giveaways where the prize is not the product they sell. Theirs is nothing wrong doing that when you know your community loves your products. At the end of the prize is the holy grain of the campaign and it should excite your audience. But, if your objective is to create awareness for your product and if you are sure that your audience will love your product, then you should consider a specific product of your business in your giveaways.
Get to know your audience and what they have in common. Try to know their needs and ask them what exactly they would like to have.
The internet-bred eCommerce fashion retailer, Dolls Kill, is killing it when it comes to their Instagram marketing. Their Instagram account is the 2,600th most followed account with 2.6M followers (which grew from 55%-60% from the previous year).
Dolls Kills often runs giveaway campaigns to showcase an item from their upcoming mini collection.
One of the most common mistakes that a lot of entrepreneurs make is offering a price that appeals to an overly broad audience.
Always remember one thing that generic prices produce short term results. A large number of audience may take part in your campaign, but they might only be interested in your prize, as opposed to your business. Once your campaign is over, they will probably unfollow you. You want to build a very focused audience unlike the bunch of followers who don’t take any actions and support your online shop.
2. Build A Very Dedicated Following: Run Giveaways To Reward Your Communities:
Building a list of dedicated followers is not easy. You would rather want to have 100 true fans instead of having 1000 of followers who are unengaged. Ultimately, the growth of your business largely depends on your followers.
Genuine giveaways help you to build you a tribe on the social media platform of Instagram. Giveaways are one of the best ways to increase your followers by giving back to your communities and making them feel like an important part of your tribe.
You can always make your giveaways fun and more engaging by adding a competitive touch to them.
When Dolls Kills first started out, they ran a photo contest for their followers who modeled their clothes and they later recruited the winner as their main influencer. This particular strategy has allowed them to grow extensively in an authentic manner.
3. Use Instagram As A Sales Channel: Run Giveaways To Promote Sales
Instagram is one of the most effective sales channels for e-commerce business because
The users are engaged millennials: 80% of the users follow brands
Its users are making purchases: Instagram boasts the second highest average order value out of all the social channels.
It keeps adding new business-friendly features
Using Instagram as a sales channel is an objective to consider once you’ve already raised product awareness and built a community with previous giveaways. Start with the first two objectives in this article – then move on to promoting sales with giveaways when you’re ready