The Proper Way to Giveaway Freebies to Your Audience without Losing Money

by josh on September 1, 2014

Question from a recent Entrepreneur:

I have a few questions I was hoping you could help me with. So I started this slap a stick campaign where I am willing to send people a free sticker if they take a picture with it somewhere and send us back that picture so we can post it to our site. Over the past 48 hours we have received over 5,000 sticker requests and they are still coming in. People are genuinly interested in stickers.
Looking into the future, I want to be able to monetize this and create a large viewership. The problem is I have to pay for the shipping which is not very much, but adds up when I am sending over 10,000 stickers. What advice could you give me going forward? How to monetize? How to cover costs of shipping? How to retain these customers and keep them coming back to the site?

My answer:

1. Definitely have them fill out all their info and use a system like aWeber or MailChimp to build a marketing database.
2. Partner with a relevant brand to send a sticker of theres out too. For example, Cabela’s (or a smaller local shop) agrees to cover the cost of shipping and printing for using your list to send out Cabela stickers in addition to yours. The customer wins by getting a freebie and Cabela’s gets thousands of eyeballs for pennies on the dollar.
3. Have them fill out an offer or survey to unlock their free sticker using https://www.trialpay.com/ or http://www.imgrind.com/monetizing-with-offer-walls/
4. Definitely use something like this for social media growth: http://kingsumo.com/apps/giveaways/

 

Josh Elizetxe is an award-winning serial entrepreneur and investor. He is based in Arizona, but frequently travels the West Coast.

josh – who has written posts on Joshua Elizetxe.


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