| MAKING MONEY WITH GIVEAWAYS
The guy who thought of giving away free rolls of film
every time you have your films developed at his photo center - is a genius!
You know the rest of the story, and so do thousands of
other photo centers around the world who copy this excellent promotion.
STRETCHING DOLLARS
A budget conscious market is always out looking for a
free lunch.
For this reason, you can build a marketing system that
self-liquidates its associated cost, distributing gift certificates that
offer free this or free that - all the customer has to do is pay a minimal
shipping and handling charge.
FREE SOFTWARE
In Las Vegas, I met a poker player who sells software
he put together for $29 and higher.
To double the volume and reach other markets, he
decided to re-package his software. He gave it a new name, made a new floppy
disk label, and offered it at a ridiculous price: free.
To receive this software, all you have to do is fill
out the gift certificate and send it back to him with $8.69.
THEY WENT APE!
He was giving the certificates to schools, businesses,
and stores who give away the certificates as their own promotional gifts to
their customers.
Because the cost to produce and mail this disk is 69
cents, he was making $8 with every certificate that was redeemed for the
free software.
$800,000 IN 27 WEEKS
Take a snapshot of this picture: Say, a total of 1
Million certificates were circulated. Let's say you paid half a penny to
print and distribute these million certificates. Your cost is $5,000.
If you generate a 7% conversion, you'll earn $560,000
before taxes.
That's 70,000 certificates redeemed with an $8 profit
tagged to it - $560,000.00
NUMBER GAME
If you give other people permission to make copies of
and give away your certificates, your cost to circulate 1 Million
certificates will go down. But your opportunity to make money remains the
same.
1 % response =
$80,000
2 % response =
$160,000
3 % response =
$240,000
5 % response =
$400,000
10 % =
$800,000
A new industry
study conducted by NFO Interactive says that more than half of all online
consumers would buy more online if incentives were offered at e-commerce
sites.
The survey of 1,905 online consumers found that nearly 53
percent of online consumers said they would gladly increase the amount they
spent in transactions at a specific retail Web site if loyalty points or
incentives were offered.
Moreover, 47 percent of the online consumers said they would
return regularly to a specific e-commerce or retail Web site if they knew
they would receive incentives. Only 15 percent of online consumers indicated
incentives have no influence on their purchasing decisions.
"Web site effectiveness was once measured by the number of
hits. Today, it's measured by purchases. Online consumers have the 'Gimme
Factor.' That is, 'I'm here at your Web site. Now make it worth my while to
buy something'"
"Rewards and incentive programs, when used strategically
online, are among the most powerful tools marketers can use today to drive
customer retention and develop customer loyalty. And they are particularly
effective with consumers under 35 years of age."
This study also shows that more than half of the respondents
would gladly provide personal information in return for a reward or
incentive.
Steering away from sweepstakes, consumers prefer the
following types of incentives:
"Just as off-line retailers are looking to create life-long,
profitable customers, online retailers desire the same type of relationship.
Rewards and incentive programs are proving to be a successful tool to
cultivate customer loyalty on the Web," Smith said.
There is
simply no better way to add value to your website offer than to give away
free incentives. Give away free software with every subscription to your
newsletter. Give a way a free eBook with every product purchase. Give away a
free travel with every ... well, you fill in the blank.
No matter what response you are looking for from your website visitors,
you'll be more likely to get it if you give them something free that is of
interest to them. The key is to give your visitors the notion that the
perceived value of your special offer is zero.
By purchasing this
product, you you are on track to make significant profits. These giveaways
are provided by some of the world's best companies. These incentive
suppliers have made special arrangements to allow you to give away their
incentives, to increase profits for both you and them. Due to these
arrangements you are able to make big profits.
The first step towards
success is to become familiar with your site. As you market your free
incentives you will need to be prepared to answer questions of every kind.
The vast majority of the answers can be found on the site where you've
acquired the incentives from, but you need to know where. You are offering a
great deal, so good that many will be skeptical. You must be comfortable and
confident with your business. Your confidence must instill confidence in
them! Go through your site; click on every, link, read every word. Be
prepared to answer these questions.
Now that you are
familiar with your site it is time to start promoting your site. To do this
you need to decide what goals you have for your site. Is this a hobby? How
much time are you going to spend with it? How much money do you want to
make? Everyone is different with different ideas and goals. You need to
decide so that you can focus on tactics that will earn the desired profits.
If this is just a hobby, the free hosting is just fine, but if you want to
really build a business, consider upgrading.
It is very important that you submit your URL's to search engines so that
people searching can find your sites and help you make money! When people
are looking for specific information, such as travel savings programs or
money-making opportunities, they usually turn to search engines. We have
provided a listing of 10 of the top search engines, along with links to the
submission pages. Please take a moment now and list your URL's with these
companies by clicking on the links and following instructions:
Each month you will need to resubmit your site to search engines. Adding
a "testimonial" will bring a personal touch to your site. |
