There are so many ways companies are now attempting to bring their product into the public domain as a means of advertising. One of these ways is through competitions and giveaways. Well known companies (especially in the technological industry) such as Apple, Samsung, Bose etc... will have many participants when they hold a giveaway, because who wouldn't like the latest IPhone, TV, or a new set of Headphones from these companies? Less well-known companies will also have giveaways / competitions to give the consumers an example of the product they are wanting to sell.
The hobby of 'comping' has become more popular recently. This hobby involves people entering lots of competitions that they find online, in magazines, on the television etc. with the hope of winning something.
At first, I thought the ides of 'comping' is a little crazy, however I was surprised to learn that a lot of people engage in it There are so many different groups and forums online to connect with people who comp.
The prize finder is the one website I know of that has all the competitions from all companies, so it is easier for people to enter what competitions they want. I was amazed to learn that on this web-site they actually give the answers as well, so this makes it so easy for people to enter the competitions.
I questioned my mum to try to find out from a consumer's point of view why she enters the competitions.
I asked the following questions:
- Why do you enter competitions?
- How do you enter competitions, what platform do you use?
- Out of all those different ways of entering, which do you think is the most effective, firstly for winning and secondly for actually advertising the product?
She replied.... To experience new products, also to receive products I may not be able to afford; also for the anticipation of winning.
She replied....There are several different ways: online, telephone / text, postal entries, social media, customer interaction (e.g. who can keep their hand on the car the longest).
She replied.... they are all balanced, it depends on what the competition is asking you to do. The more work you have to put into the entry (e.g. take a picture in a certain location, or make something) the less people are going to enter, so there is more of chance.. However it's just luck of the draw at the end of day.
Advertising wise, social media and radio make the best for advertising the actual product. Some companies don't actually advertise the prize, you are just entering with blind sight. I find images and knowing what product I maybe winning is more effective as it is more assuring to know what you will get.
The company and the product gain consumer attention through such means as competitions. They know that many people are keen to win something,and this generates interest in the product . Furthermore, this could be a way of collecting data to show how much interest and sales the brand could possible have.
As a small business owner myself, I have put on a couple of giveaways on social media to try and get my product more in the public eye. Who doesn't like free goodies? I did find the giveaways I put on were really effective for my business as it creates more interest and I began to gain customers and the public are more aware of the business I am involved in.
I believe that 'comping' and giveaways are an effective way for companies to market their products to potential consumers.