Giveaway stuff? I am sure you must have confused after reading the title of this money-making way.
You might be thinking, how can somebody make money by giving away something? But today you’ll learn a brilliant marketing strategy that very few marketers are using to make loads of money without investing lots of funds.
Now, let’s dive into the strategy.
This strategy consists of organizing a Giveaway of high valued physical products, software, eBooks, live event passes, online services, and so on.
Then promoting the giveaway to a specific interested audience and asking them to participate in the giveaway by registering via their email id and sharing the giveaway with their friends thus building a niche-specific targeted email list.
Next, choosing random winners from the pool of registered people and giving them the promised products or services for free.
Further, monetize the email list by promoting affiliate offers via email marketing.
Giveaway strategy works like a charm and helps you to build a targeted email list for free or at a low advertising cost which you can later on use to promote affiliate offers and make money.
Suitable For -
People who love to talk, write, explain, and have the ability to persuade.
Skills Required -
Ability to write promotional emails.
How to get started -
Step 1 - Research
Before you can start a giveaway campaign, you need to research and skillfully decide upon what are you going to offer in your giveaway.
The following are some tips that will guide you to conduct research and select the right product/offer for your giveaway.
1. Find out what are the most prominent pain points people have in your niche and how your giveaway can provide a solution to it.
Use the following points to dig out pain points in your niche.
- Visit Q&A sites such as Quora, Yahoo Answers, etc. to find out which are the most asked questions in your niche.
- Visit niche-specific forums and find which are the most discussed topics.
- Visit niche-specific blogs to find out the most popular articles and note down the topics on which the article is written.
- Visit social media platforms to find out influencers in your niche, then study what they share on their pages.
- Visit YouTube and find out which are the most viewed videos in your niche and which topics are discussed in them.
- Study comments on blog posts, YouTube videos, and social pages and try to understand what do people really want.
2. Find out where on the internet your audience is active and engaging. Is it on social media platforms, forums, YouTube, or blogs? If you know this, you will know where you should promote your giveaways.
3. Understand how your audience wants the solution, whether they want a physical product, software, service, online course, eBook, video, etc. It will help you to select the right giveaway which will appeal to your audience.
Step 2 - Get all tools for starting your giveaway campaign
You’ll need two important tools to start your giveaway campaign, a viral marketing application, and an autoresponder.
If you own a Wordpress blog, you can install a paid tool called UpViral.
This tool is easy to use, and you can easily set up your giveaway campaign without much need for technical knowledge.
Once the UpViral tool has been configured you need to connect them to an autoresponder so that you can store all the signup emails and for email marketing purposes.
Step 3 - Decide your giveaway strategy
A giveaway strategy is nothing but deciding on what actions you want visitors to take before they participate in your giveaway.
Depending on goals you want to achieve you can develop your strategy.
The strategy could be anything just to ensure that it’s according to the rules of the platform on which you’re promoting your giveaway.
For example: If you want to grow your blog’s subscribers you can ask your visitors to subscribe to your blog, like your blog’s Facebook page, and tag their three friends.
Step 4 - Promote your giveaway
If you have done the research right, you’ll have a complete idea about where to promote your giveaway on the internet. Depending on your research you can plan your promotion strategy.
For example: If your research suggests that Facebook will be the right place for giveaway promotion then there are multiple ways you can do it, I am mentioning a few below.
- You can start Facebook ads and drive people to your website.
- You can contact influencers and ask them to promote your giveaway for a fee.
- You can join niche related groups and post about your giveaway.
Step 5 - Monetize
Once you start promoting your giveaway, people will start participating, and your email list will grow.
Once you have an email list of reasonable size (250 - 500 subscribers), you can regularly start promoting relevant affiliate offers and products to your list via email.
People will buy products and offers via your affiliate link thus making you money through affiliate commissions.
Always remember that in the email marketing business the bigger the size of your targeted email list the bigger your commissions.
Hence always try to add new targeted subscribers to your list via running multiple giveaway campaigns.