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why you need a free prize

The Claw Machine And The Free Prize

July 12, 2014 by Marc Guberti Leave a Comment

Claw Machine

To children, the claw machine is the thrill of a lifetime. To adults, the claw machine is another money draining vortex. It’s quite obvious why claw machines lose their popularity as an individual becomes older. While some people happen to be really good with claw machines, most people never get a prize from the claw machine. You only have an 8.33% chance of winning something with a claw machine. In addition, as we get older, the stuffed animals in the claw machine that used to be attractive lose their appeal.

The problem with a claw machine is that it is very difficult to win, and most of the prizes in the claw machine are not even worth the trouble. The only prizes that are worth it tend to be all the way at the very back and bottom of the prizes. It seems as if the only way to get a prize is by smashing the glass (not recommended).

The reason why a claw machine works like this is because the people who offer the claw machines want to make a profit. These people make a profit at the cost of losing customers. In the end, people say that the claw machines are just a scam and then give up on it. For these people, it’s no longer worth continuing.

What the claw machine makers don’t want is a loss in profit. Many businesses will strive to make a profit at the cost of the customer’s satisfaction. If everyone had a 50% chance of winning the claw machine, they’d be in trouble. Customers would actually be getting what they want at the cost of a profit.

The claw machine is an example of a win-lose situation. If customers can’t get the prize, they lose, but the people with the claw machines win. If customers get the prize, they win, but the claw machine people lose. So many people live in a win-lose world in so many different ways of either winning or losing that they forget that a win-win world still exists.

What does a win-win look like? Distributing a free prize at no cost to you (PDF or video) and then sending a series of follow up emails that promote a paid product. You give away valuable information (your customers win), and some of your customers will tell others about you and also buy your paid product (you win). There are plenty of ways to turn a win-lose situation into a win-win solution.

The claw machine is a win-lose situation that gets left behind and becomes a dust collector, just like the prizes inside. The win-win solution shines bright and results in everyone being happy.

 

Filed Under: Marketing Tagged With: why you need a free prize

5 Ways That Having A Free Prize Can Help Your Business Grow

June 13, 2014 by Marc Guberti Leave a Comment

business growth

If you do not have a free prize, your chances of being successful in your niche go down. Free prizes have become more important than ever because more people offer them. Free prizes are not as rare as they used to be. In fact, it seems as if free prizes are expected. The occasional two for one deal is expected. Getting a free product after entering your email address is expected. Free prizes are expected, and therefore, you need to fulfill the expectation. I went more in detail in a previous post about how you can go beyond expectations, but having a free prize is going to set you apart from the people who still do not offer a free prize.

You may be wondering at this point where you would offer your free prize and why you would do so. There are numerous places where offering a free prize would do you good. Here are the big five:

  1. Blog subscribers. This one seems to be the most obvious reason why someone would want to offer a free prize. More people than ever before are offering free prizes to the people who subscribe to their blogs. This is the area where a free prize is almost expected. Visitors aren’t just going to subscribe to your blog so they can get emailed by you every day. They can just visit your blog every day. If you want someone to subscribe to your blog, you need to offer them more than an email every time a new blog post comes out.
  2. Facebook likes. There are not as many free prizes on Facebook, but they do exist. If you get emails from Facebook each time someone likes your Facebook Page, you will be able to reward the people who like your Facebook Page. By telling everyone that they get a free prize when they like your Facebook Page, you will be able to make your Facebook Page look (and become) more popular. Then, you will eventually be able to get hundreds of likes every day. Better yet, you can also offer a free prize when someone likes or shares one of your Facebook posts.
  3. Twitter retweets. Free prizes are a little harder to announce on Twitter which means you will surprise people when you give them the free prize. When one of your followers retweets one of your tweets, send that person a DM with their free prize. If you want more people to know about the free prize, you can pin a tweet announcing the giveaway at the top of your feed. Since a free prize for retweeting a tweet is so rare, some people will retweet you just to get the free prize.
  4. Email newsletter. If your email newsletter promotes a particular product, give away a free prize similar to the product you are promoting. If the product you are promoting is a 50 video series about Twitter for $497, make your free prize a 7 video series about Pinterest. In this case, the free prize is similar to the product that you will be promoting to all of the people who gave you their email addresses.
  5. YouTube subscribers. Offering a free prize to your YouTube subscribers will entice more people to subscribe. In addition, those subscribers will give you the leverage you need to go viral. Most of the videos and channels that go viral on YouTube are also the ones with thousands of subscribers. Offering a free prize may allow you to get thousands of extra YouTube subscribers.

Those are the five places where free prizes will allow your business to grow. When you promote a free prize at these places, you need to make sure that each of these free prizes are unique. Offering the same free prize to everyone does not encourage someone already subscribed to your blog to like your Facebook Page. In addition, by creating multiple free prizes, your potential customers will love you for it.

 

Filed Under: Sales, Success Tagged With: how to get more sales, how to get more subscribers, why you need a free prize

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I am a business freelance writer who writes for individuals, small businesses, and corporations. My content will help drive engagement and sales to your business. I have produced content for several companies, including…

  • Upwork
  • MoneyLion
  • Freight Waves
  • Westchester Business Journal
  • Property Onion

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