Data shows that incentives increase opt-ins by 400%. But picking the right prize is what helps target the right prospective customers and drive the right actions.
Prize options: Select from catalog or use a custom prize
When setting up your campaign, you have two options for choosing a prize:
Select product from catalog: Pick an existing prize from your store's product catalog. This is good if you have a specific product you want to give away. But if you can't find the product you want to use or can't select a variant, then you can use the custom prize option below.
Use a custom prize: This option allows you to manually enter a name for the prize you want to give away.
Both options above allow you to customize the prize name that your customers see and use whatever giveaway prize you want. The 'select product from catalog' option just automatically adds the product name for you.
Need help picking a prize? Here are some tips.
When picking an Instagram giveaway prize, you need to strike a balance between two key factors:
A prize that accomplishes your giveaway goals
A prize that attracts your target customers
The intersection of these two is our goal: Attract more followers in your target audience to ensure you get the right followers to keep your engagement high.
iPads and Amazon gift cards are bad examples of Instagram giveaway prizes in most cases (but not always!) because they may attract many followers, but they won't attract the right followers since they are generic.
If you're in the beauty niche, a make-up kit might be a much better example of a prize that will accomplish your goals and attract the right followers.
For giveaway prizes, your products and services are a great, cost-effective example that also attracts your target customer. For example, Hydro Flask drives huge engagement by giving away their $40 water bottles.
As another example, gift cards are usually a bad example because they're a generic prize that anyone would want. But here's an example of how gift cards can be a great prize: Gymshark ran a giveaway with their gift cards, which works because it's targeted to their niche.
Many things can be great giveaway prizes, but just make sure they 1) achieve your giveaway goals and 2) target the right followers.