Giveaways are free, digital opportunities to win stuff. What you win depends upon what's in the contest. Entrepreneurs and website owners regularly post giveaways, so their site readers could have something to value from. Since these giveaways are posted on websites/blogs, they are primarily about what the website is about. If a blog is about internet marketing, then the winning products will definitely be related to internet marketing like SEMRush, DropBox, CopyBlogger Rainmaker, etc. Whereas if the giveaway is on a recipes blog, the prizes should be cook books and culinary items.
The best part about these giveaways? You could participate in them. You just need an email address or facebook account. These giveaways are managed via Rafflecopter, Gleam and Punchtab. And they are equally beneficial for website owners, because they help attract a load of new people, who may previously not have known of the website. Since these giveaway-hosting programs, Rafflecopter, etc., incentivize participators by asking them to share, follow, +1 and comment on Facebook, Twitter, etc. it's often resulted into loads of social shares and blog post comments.
If you are a website owner, you should definitely try hosting a giveaway. The more prizes you offer, the more the signed up users and more competition between them. There are thousands of people pursuing one single prize. If you are afraid of losing money, you can simply ask some big product company in your niche, like WP sites will contact WP theme developers and recipes blogs can contact top chefs and ask them to promote their site in turn for their free books.
Whereas if you anything like me and like to win free prizes, you should most definitely try signing up to these giveaways. To find out latest giveaways in your niche, search for "[niche] giveaway" and results from "Past week". Simple, right?
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