First-party data is one of the most valuable types of data that a business or brand controls. It can help you create more strategic marketing so you can build direct relationships with your customers. It can also strengthen your overall brand and help your business model be more efficient.
But unfortunately, most businesses do not gather enough first-party data to make the impact they want. Collecting name, address, email, and purchase history is great information, but it’s not giving you the full picture of who your customers are, what they’re interested in, and how you can meet their needs.
What about insight into what products or services your clients want or don’t want? What about knowing when they are going to make a buying decision on something you offer? We know that information like that can be invaluable to any business if they have a plan in place.
So how can you collect data like that about your customers? One impactful option is an online sweepstakes or giveaway that includes a detailed entry form. Sweepstakes can be a great way for businesses to collect more detailed information from their customers while also offering them value.
Let’s say your business is a home improvement company. You could create a sweepstakes to give away a room makeover of a certain value. In order to enter to win, people must fill out an online form with their basic information, and they need also to answer two to three important questions. What room of the house are you remodeling? How soon do you plan to start your remodel? Would you like a free quote on kitchen cabinets? Asking the consumers these questions give you direct leads to some of the most valuable information for your business.
Keep in mind that for an individual to want to give you their data, there also must be an incentive on the other side of it so it is important that the prize is a big enough incentive to have them enter to win. It’s also important to make sure that the prize you’re offering is something valuable only to your target audience. For example, everyone wants to win a new TV, cash, or a gift card to a local restaurant. The home improvement company wants to reach homeowners, so giving away a prize like a room makeover is something only homeowners would be interested in.
As you can see, this can be a great strategy to grow your first-party data. It also has the added benefit of giving you highly valuable leads for your business. Ultimately, only one person will win the prize, but through the contest, you get connected to potentially dozens, hundreds, or even thousands of people who may be in need of your services — and you have valuable information about how your products or services can help them. Using that gives you the opportunity to build direct relationships with those consumers and help them convert into paying customers.
Want to learn more about online sweepstakes and how they can help you collect better first-party data? Federated Digital Solutions can help you set up a sweepstakes, advertise it to your target audience and utilize the data you collect to meet your business’s goals. Contact us today to start the conversation.