Whilst many other industries have been running social media competitions for years, it’s still relatively new to the asset management industry, so I wanted to give you a quick overview of their promotion and competition guidelines.
You may be surprised to know they are slightly different.
We’ve all seen it, you’re on Facebook, scrolling through and you see someone has shared a post to win a Mallet’s mallet, but did you know, this kind of promotion is actually against Facebook’s promotion rules?
Personal timelines and friend connections must not be used to administer promotions (e.g. “share on your timeline to enter” or “share on your friend’s timeline to get additional entries” and “tag your friends in this post to enter” are not permitted).
Essentially your promotion cannot make it compulsory for people to:
- Share the post onto their timeline
- Tag friends
- Like their page
There are some “workarounds” to this, for you example you could say something a long the lines of ‘do like our page to keep up to date and see who we announce as the winner’ (and you can do similar with asking people to tag friends or share posts).
You can read Facebook’s rules in full here.
Firstly, it’s good to know that accounts that hold contests grow 70% quicker than those who just stick to standard feed/story posts. So it’s worth considering it as part of your strategy.
One of the main rules of running an Instagram promotion is to advise that it is no way affiliated or in association with Instagram.
Also please do ensure the T&Cs of the competition are accessible, these can be hosted on your own website, or via a contest host, but the link needs to be posted in the text of the promotion so potential entrants can easily find out the rules should they so wish.
Instagram’s promotional guidelines are a bit different to Facebook, in that you CAN ask entrants to:..
- Have your audience post a photo or a video to Instagram with a specific hashtag and a specific theme.
- Have your audience solely follow you or do so in addition to creating a post.
- Have your audience tag your brand in their post.
- Have your audience Like or comment on one of your posts.
You can read Instagram’s (short) rules in full here