Selling Facebook Contests

Top Takeaways: The Agency Model: Selling Facebook Contests

April 30th, 2012 Julie Foley Leave a comment Go to comments

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Learn how to implement an agency model in your media company
We recently hosted a webinar that explores adopting an agency model to help you monetize Facebook by packaging social media into integrated campaigns and using contests to drive audience and revenue. Using all promotional assets at your disposal to sell a contest to your advertiser that allows them to increase their social audience and allows you to show off your powerful promotional chops.
Below, you’ll find the top takeaways from the presentation.

1. Understand what an agency model is. Selling advertiser-specific Facebook contests directly to your advertisers as a service. It’s not about having an in-house agency, its about approaching an advertiser and fulfilling a social media need while also offering services around promotion. The components of agency model package may include:
1. a. Objectives that benefit the client
2. b. Runs on advertiser’s Facebook page
3. c. May run on your media page as well
4. d. May include advertisers paying for media promotion
5. e. You make it turnkey for them
6. f. You include design services/help with rules
7. g. Prize corresponds with advertiser’s brand
8. h. Email opt-in for the advertiser
2. Understand the benefits of adopting the agency model. Here’s just a few to get you started, but the list goes on.
1. a. For many advertisers, building a social media audience is a primary marketing objective.
2. b. Contests work! 57% of fans liked a business based on an offer and 38% because of a sweepstakes. * (Source *eMarketer February 2011)
3. c. Advertisers don’t have the time, know-how, design skills or promotion ability to make contests successful on their own, but you do.
4. d. You are the expert in contests. You’ve been running contests in your local markets for years and most recently, online and on Facebook. You are the most logical answer to their needs in this area.
5. e. Facebook has made contests viral, so they are easily shared.
6. f. Opportunity to build more revenue and develop a deeper relationship with the advertiser than if they just bought media from you.
3. Target the right advertisers. Approach local advertisers that have good reputations, but aren’t able to run their own promotions. These types of advertisers will benefit the most from your powerful promotions package. We’ve seen restaurants, retail, hotel and travel advertisers work well for our partners.
4. Create a killer advertising package. With this model, you will build, design, host and manage a Facebook contest that meets Facebook guidelines. You will also build a phenomenal promotional package that includes a variety of these assets: a like-gate on the contest, online promotion on your site, print and on-air promotion, social media mentions, e-blast to your promotional database, and an email opt-in for the advertiser.
5. Show off your promotional chops. Use all promotional vehicles at your disposal to spread the word and drive participation to your advertiser’s contest. Here’s just a few ways you can do so.
1. a. Use “pinned” posts on your Facebook page
2. b. When posting, make sure you are using engaging language with your audience
3. c. Move the contests Facebook tab to top 3 tabs for your advertiser’s page
4. d. Customize the Facebook tab image
5. e. Send an e-blast to your promotional database
6. f. Include promotional ads in your print/on-air/online products
7. g. Promote a redirect to drive people directly to the contest on Facebook
6. Pricing can vary. Set your prices based on a package that includes the Facebook contest and the accompanying promotional package. The price you charge will vary based on components of the package. We’ve seen small markets charge anywhere from $300 to $5,000, mid markets charge up to $15,000 and a large market charge up to $20,000. Long story short – charge an amount that correlates to the value of the contest and the promotional package.
7. Grow your own Facebook presence. Building your own Facebook likes allows you to maximize your opportunities with an agency model. To build your own likes, run a contest on your page. Sweepstakes are the fastest way to grow your own database, but you can also select contest ideas from our 30 Contest Ideas in 30 Minutes webinar. You should select contests that target audiences that are attractive to the advertisers you are pitching for agency business.
8. Determine what works for you. Some local media companies are forming their own agencies. Their goal is to close the gap between what you currently sell – advertising – and
 what local merchants want– measurable results from a variety of
 digital platforms. If you have an in-house agency, Facebook contests can be an important core of your model. If you don’t have an in-house agency, selling Facebook contests is a great way to diversify revenue and build an agency-like model for your advertisers.
What highlights did you take away from this presentation? Drop us a note in the comments.
You can view the webinar in its entirety below.
Here's a video on how facebook contests work:

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