Social media contests could help you attract a big following online. That following could translate to profit.

Social media can be very rewarding once you attract a large enough following. But, in the beginning, it can be rough going to draw in the kinds of crowds that are required to truly be profitable. Many social media experts are beginning to recommend Facebook contests and Twitter contests to attract and engage your audience. But, how does that really help you bulk up your following numbers?

Contests Take Advantage of the Social Aspect of Social Media

People love contests. They love prizes. They really love winning most of all. Contests give everyone people (or one depending on the contest structure) the opportunity to win. But, they also love to share the news about contests with friends and family to help them compete. It’s the old “if I can’t win, at least it might be someone I know” mentality and it really works well in the favour of the person hosting the contest.

But what does that do for you?

As the person holding the contest, the more people who hear about it, from you, from your followers, and the people who suddenly sign up for the purpose of participating, is that more and more people are finding out all about you, your business, and your fan pages on the World Wide Web. You’ve probably learned by now that doing business online can be easier when you get numbers behind you. The more numbers who know about you, the greater the odds are that you’ll be able to win some of them over as customers, associates, and/or business partners—eventually. This is a huge way to get your numbers up.

Tips to Get an even Bigger Return from Your Social Media Contests

In all marketing efforts on the Internet you want to maximise your ROI (return on investment) whenever possible. When you’re hosting social media contests, these are just a few things you can do to get an even more responsive audience:

• Offer prizes that matter to your audience
• Reward sharing, retweeting, and reposting with additional entries
• Encourage them to return to your site each day of the contest for additional entries
• Give something of value to those who didn’t win (even if it’s a free report or silly video you share with your audience let everyone walk away feeling like a winner—even if they didn’t get the grand prize).

Little things can make a big hit of your social media contests and an even bigger windfall for your wallet.

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