Want more Instagram followers? You might want to consider the latest marketing strategy that more and more businesses are using: Instagram loop giveaways. 101 Management is so enthusiastic about this technique that we’re now available to host them for our clients. So let’s look at what a loop giveaway is, as well as the pros and cons of participating in one.
A loop giveaway simply involves more steps than your average giveaway. To initiate a loop giveaway, several accounts get together to buy a prize. All of them post the same image at the same time, with instructions in the image caption on how to play along. Unlike a normal giveaway, contestants are then asked to follow all of the accounts involved in the giveaway. They are instructed to “like” the image and follow the accounts involved in the LOOP. All those who play then become eligible to win the prize offered.
There are several pros and cons attached to this form of marketing. The biggest pro is that you can attract several hundred fans in a matter of hours, ultimately gaining you thousands of followers in a just a few days. There is always a risk of losing a few of the fans once the giveaway is over. But that’s to be expected, because a number of people will follow you and your loop partners just to have a chance at the prize. Nevertheless, those who’ve tried loop giveaways find that they hold on to the majority of these new followers after the contest is over.
- When you split the cost of the prize with other hosts, you can receive a substantial return on your investment for a relatively low cost. For example, say you’re giving away a $1,000 gift certificate or $1,000 worth of prizes. If you have 20 other partners, your investment is just $50.
- It can help increase visibility and brand awareness, especially if you partner with well-known accounts or influencers.
- Loop giveaways are a way to compensate your current followers for their loyalty to your Instagram feed.
- They’re also a way to make new connections with influencers or related businesses with whom you can partner in the future.
- If the contest isn’t run well, you can risk looking “spammy,” or worse, like a con. You should always check out the legitimacy of the rest of the participants before joining a loop giveaway.
- If you host or participate in too many loop giveaways, you risk annoying your followers with too much clutter.
- And, as mentioned, you will almost certainly lose a few new followers after the giveaway is over. One way to avoid losing as many is to offer them something in the way of a consolation prize, say a one-time discount on a future purchase.
It’s important to have complementary—not competing—accounts involved in the loop giveaway. This helps insure the new followers are actually interested in what the various accounts have to offer, and aren’t just playing for the prize. It’s also essential that all the accounts publicize the contest across all their social media.
The loop giveaway organizer chooses the theme, decides on the prize, creates the graphic, obtains the relevant accounts, and coordinates with all of them to ensure all the details are worked out and synchronized for the giveaway to run smoothly. The organizer also selects and announces the winner of the prize to all the participants and contestants.
Sound like a lot of work? Actually, it is, which is why 101 Management can set them up and run them for you. We can also help you find appropriate loop giveaways to suit your business that you can participate in. Just contact one of our expert marketing specialists to learn how to get in on in this rewarding new marketing strategy, and leave the work to us.