We all regularly see these types of posts on influencers' social media accounts, but is it a good thing? Are followers still as eager to participate in these contests on Instagram, Twitter, etc.? Do they still allow brands to achieve their goals, particularly in terms of visibility and engagement? And how can we maximize the impact of a contest?
Reech, an expert influence company that I don't need to introduce to you anymore, has looked into the subject and has carried out a very interesting study that can help brands make spam database the right decisions regarding the organization of competitions as part of their influence strategy. I would like to point out that this article is published as part of a long-standing Ambassador partnership with Reech, but those who follow me on social media are already aware of this.
The main results of the study, 7 figures to remember:
There were fewer competitions in 2022 than in 2020 (-14.5%).
Comments on “competition” type posts have plummeted by 70%, as have likes and shares (-57%).
The “Top competitions” with +20k comments have recorded a significant drop over the last two years (-52%).
90% of new subscribers are generated within 24 hours of the competition publication date.
The conversion rate of comments into subscribers increased by 5.7% between 2020 and 2022.
Subscriber retention rates increased by 67% over the same period.
The competition remains an extremely popular and requested format. It comes in second place (45%) behind promo codes.
How can this decline be explained?
Contests are on the decline, that's a fact. It may be interesting to analyze this phenomenon. First, it is obvious to say that the chances of winning are still quite small. The more subscribers participate, the slimmer the chances are.
Another important element to take into account: the conditions of participation. You must try to offer simple mechanisms, avoid asking to like, comment, share or follow certain accounts… at the risk of losing people along the way.
On the other hand, offering an engaging participation can bring real added value. We can ask to take a photo of a product and publish it on the networks with a dedicated hashtag to then feed the brand's UGC strategy.
Lastly, let's talk about the algorithms that push certain formats like Reels, which are not very suitable for contests. The average coverage rate of a Reel is 40%, while it is 30% for a post. Algorithms have a significant impact, and we must be aware of this. In particular, remember that content
