If you’re not totally new to our newsletter, you know that on February 4th, 2021, our $25,000 giveaway in partnership with Flippa was wrapped up. Here are three early lessons from this experience.
People will try to cheat
Make sure you have clear rules in place against fraud, duplicates, misleading promos, and more. Most referral tools will have features to help you combat fraud. If you’re curious, we used SparkLoop.
Promoting the giveaway didn’t get new subs
Promos where we encouraged people to subscribe to our newsletter and take part in the giveaway were a failure.
We got much better results when promoting our newsletter as usual, then adding a dedicated email 24 hours after people subscribed where we explain the giveaway. And of course, mentioning the giveaway in every newsletter.
Examples beat the generic prize amount
Showing business examples worth up to $25,000 and explaining their revenue, monthly profit, margins, traffic, and potential provided much better engagement for the giveaway.
It made the prize more tangible and more appealing.
We’re also doing a deeper analysis into this, and we might share some interesting stats (and more lessons).
