By Hannah Denson
From raffles to sweepstakes, there are many kinds of giveaways, all of which offer their own unique benefits. One such type is a leaderboard giveaway, which allows participants to compete against each other and earn their prize.
A leaderboard giveaway will typically have contestants earn points through various tasks. For instance, they might get a point for supplying an email address, another for their phone number as well as for sharing a social media post that your brand is tagged in. Then they might earn five points for referring a friend. By the end of the giveaway, the participant who has earned the most points and earned top rank in the leaderboard will be the grand prize winner.
This type of giveaway is great because it will encourage very active participation from entrants. It can help you to gain lead information, like contact information, that will make it easier to reach out to the customer with further marketing down the line. Plus, since potential actions include sharing posts and referring friends, a leaderboard giveaway is a great way to reach potential customers and help new people discover your brand as well.
Furthermore, it will also help build a connection between the brand and those that participate, since they are using many different avenues to engage, like exploring your company’s YouTube videos and liking Instagram posts. These steps will help boost sales by exposing those that are already interested to the benefits of your products and allowing them to learn more about your offerings. This way, if they don’t win, they’ll already be so excited for the prize, that they’ll be more inclined to just purchase it themselves.
There are also a few variations of the leaderboard giveaway, such as the sweepstakes with a leaderboard. This combines two types of giveaways, the leaderboard, with a sweepstakes. A sweepstakes is a random drawing, so by running it with a leaderboard, you can allow for a bit of competition to be introduced into a promotion that typically only relies on luck.
However, since the ultimate winner will still be chosen from all the entries, anyone, even someone that doesn’t take additional contest actions, could potentially win - they just are less likely to if they don’t have multiple entries. This allows for participants to engage with the contest at their own comfort level, and still feel like they have a shot at the prize, even if they aren’t ranking highly. So everyone has a chance to win by just entering. However, those that take extra actions will receive additional entries and rise up the leaderboard, making it more likely that they will win the drawing at the end. Potential contest actions may include directing participants to watch a video or visit the brand’s social media accounts, and each step they take will help them earn an entry.
If your products are highly coveted but aren’t available yet, you may also combine a leaderboard with a waitlist. With this type of promotion, the more activities that participants take part in, the higher they will rise on the waitlist. In addition to the benefits that leaderboard promotions generally offer, this will help to encourage and maintain anticipation and excitement for the product launch while customers are waiting.
Leaderboards are overall a great way to engage both existing and potential customers, and KickoffLabs offers the best way to run your leaderboard campaign.
You can trust that KickoffLabs will be able to improve your sales and lead generation by running a great leaderboard campaign, because we have been able to do so with numerous other companies. Esports One, for instance, has used the platform very successfully. They have received 14,500 new leads as a direct result of their leaderboard, while maintaining a $0 advertising budget and earning a 40% conversion rate.
Their implementation of the leaderboard is very interesting as well, because Esports One is committed to helping all of the entrants feel like they are benefited by participating, not just the handful that secure the top rankings.
To this end, they have different prize tiers: those at the very top get equity in the company, while someone that ranks around #10,000, might receive a badge. Everyone wins something, but there is still an incentive to try to win overall.
Another company with a great strategy for running their leaderboard campaign with KickoffLabs is Brainrich Kids.
Instead of rewarding everyone on the leaderboard with a prize, they ran two drawings. The first is for just those that rank in the top 10, so if you make it that high up the leaderboard, you have a 10% chance of winning.
Everyone else is pitted against each other in the second drawing. This way everyone still has a chance to win, but the odds are much higher if you secure a high ranking.
This has worked out well for Brainrich Kids, as they have been able to obtain a grand total of 9,000 new leads with the help of KickoffLabs. Furthermore, 16,000 contest actions have been taken along the way, and they’ve had a 20% conversion rate.
So a leaderboard campaign can be quite flexible. They can be run in different ways and tailored to suit your brand’s specific needs. However, no matter which way you structure your leaderboard giveaway, if you use KickoffLabs, we’ll help you make sure that it is a great success for your business.