This post contains affiliate links.
I have done a lot of tweaking to maximize the return on investment for sweepstakes or giveaways I run through DragonBlogger.com with Punchtab and created a template excel spreadsheet that helps show advertisers their return on investment.
In this spreadsheet, you simply enter the Sponsor’s name, how much they provided (either prize or cash value of prize they put as sponsorship) and then you add up the total number of followers they gained from the giveaway.
For our Lenovo Laptop Giveaway, Blog Engage put in $100 as a sponsorship amount, they earned a total of 5,188 new followers. 3,425 were on Twitter and 1,763 become a fan on Facebok. This means they had an ROI of .019 or just under 2 cents per follower gained.
Compare this to something like Featured Users which is a service by IZEA that features your social media profile and estimates how many likes and your ROI for advertising with them.
I went to buy a package to get more followers for my Twitter account and they offered 13,440 views with an estimate of 45 followers for $39. This is an estimated .86 CPF (cost per follower) and truthfully most services will offer between .30 and $1.50 per follower. So you can see the .02 cents per follower by being a giveaway or sweepstake sponsor of one of my contests is a better return on investment for any advertiser.
I can’t do true targeting however, I can’t limit by geographic location, but I can giveaway a prize that matches the niche of the advertiser, so that it attracts people who tend to like those types of products. If I giveaway a video game or gaming peripheral, it will attract the types of fans who will likely stay with a video game company or PC accessory company who sponsors for example.
It is this crafting of unique giveaways to help match my advertiser which helps me provide a better ROI and increase their following. I am still trying to develop methods to grow more than Facebook, Twitter following and eagerly looking forward for Punchtab to have the Subscribe to YouTube Channel entry method.