A New Trend for Driving Revenue from Contests: Selling Facebook Contests to Your Advertisers

Why Contests?

1. Build audience, page views and awareness
2. Generate sponsorship & ad revenues
3. Build user database for email marketing
4.  Powers your social and mobile strategy

A Media Company’s Agency Model 

Facebook is an important core for an agency model.  The difference between a contest on Facebook and an “agency model” contest is that the “agency model” Facebook contests will be more focused on the company, and put advertiser in the center as opposed to media company 

If the Media Company Does Not have an Agency…

Facebook contests allow the company to offer a limited number of agency services easily and efficiently

&

Allows the company to participate in agency model without investing in other services.

Components of “Agency Model” Contests:

1.  Objectives are all about the client 
2. Runs on advertiser’s Facebook page
3. May run on the media company’s page as well
4. May include the advertiser paying for the media promotion
5. The media company can make it turnkey
6. Media company includes design services/help with rules
7. Prize correspondants with advertiser’s brand
8. Email opt-in is for the advertiser

Why Advertiser Facebook Contests?

• For many advertisers, building social media audience is a primary marketing objective
• Contests work! 57% of fans likes a business based on an offer and 38% because of sweepstakes* (eMarketer)
• Advertisers don’t have the time, know-how, design skills or promotion ability to make contests successful on their own
• Media Companies are the expert in contests
• Facebook has made contests viral
• Opportunity to build more revenue and develop a deeper relationship than if the advertiser just bought media from the media company

Prospects include restaurants, retail, hotel & travel, and local advertisers with good reputations and current social presence.

What should a Media Company include in a Sales Package?

1. Facebook contest
2. Like Gate for Advertiser
3. Online promotion on the media company’s site
4. Print/On-air promotion
5. Social media mentions from the media company’s Facebook and Twitter accounts
6. Eblast to the media company’s promotional database
7. Email opt-in for advertiser

What should a Media Company Charge for the Sales Package?

• Consider the value of the package
• Consider the value of the email list
• Not a performance buy-base cost on promotional buy
• Large market: up to $20K
• Mid market: $5-$15k
• Small market: $300-$5k

How should a Media Company Promote?

1.  Use featured “pinned” posts on the media company’s page
2. When posting make sure the posts are engaging
3. Move the contests tab to top 3 tans for the advertiser’s page
4. Customize the tab image
5. Send an Eblast to the media company’s promotional database
6. Include promotional ads in the media company’s print/on-air/online products
7. Promote a redirect

Best Practices

• Build the media company’s fan base and email list first
• Ask each advertiser, “what is the value of a Facebook fan to the company?”
• Point out that by using Facebook, the advertiser also gets a social database that can be re-marketed to
• Add “opt-ins” for the advertiser
• Keep sign up simple
• Use coupons or “mention Facebook to receive a discount” as part of ongoing promotions that convert fans to customers.
• Consider a multi-contest package for the advertiser
• Structure and price as an integrated package

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To read another blog about Facebook contests by Matt Coen click here.