Know-How Exchange : E-Marketing

The primary question is, "What is the value to you of a new subscriber?"

Your prize sounds like it would cost at least $500, more or less, so how many subscribers would you have to get to make that expense worth your while? And then, is that number achievable considering that you're starting off with only fifty people?

Your big caution here is that you want people to make genuine referrals, not just tell everyone for whom they have an email address. And you probably want some sort of opt-in process to ensure that you're not just adding email addresses sent in by people.

For what it's worth, I'm not 100% sold on the viral aspects of newsletters. I think if you have a very specific, possibly underserved niche that people are passionate about, and if these people tend to know other like-minded people, the viral thing might work, but then it would be because people want to share great content with their friends, not because of the possibility of a dinner.

In all my years on the Internet, I can probably count on one hand the number of times I've suggested to a friend or colleague that they sign up for a newsletter, and never once has it been part of a promotion that would benefit me.

But that's just me and my $0.02...overvalued at that.

Obviously, valuable content will be the major motivator for people to pass it on. I forward my faves on to people all the time, for nothing.

If you did run a contest, maybe you could set a timeframe, and then send out a "standings" update, to foster the competition, and further motivate people to continue to strive for the prize.

I like the night out idea - but sometimes people like giftcards (like an Amex or Visa giftcard), so they can use the value for whatever they want. The fulfillment piece would be easier for you...

Good luck.

P.S. I'd be interested in seeing the newsletter - so that brings your total to 51. E-mail in profile.

1. You need to be sure that every email address submitted -- not just by the winner -- is verified as a different individual who really wants the newsletter. What would stop me from creating 100 email addresses and submitting them to win the prize, then unsubscribing the day after I eat your dinner and watch the movie?

2. Any prize should be directly relevant to the subject of the newsletter. I'm assuming your newsletter is about where to eat and which movies to see, right?

3. If the newsletter has real value, then your subscribers should be willing/eager to refer it to friends and acquaintances just because he/she will be doing them a favor. Bribing them with a prize could be insulting and cause them to tune out to the request. You want to be careful how you position the contest.

Hope this helps.

The very best way to generate more subscribers to your newsletter (and it's free) is to work with another newsletter provider for a service that is complimentary to your own.

Ask for the some space on their newsletter advertising yours and you do the same for them.

Its free and works well, and because hopefully the other newsletter provider has some trust with their customers and you get more people wanting to sign up.

This saves you the hassel of getting the right prize and measuring who has actually won.
Of course there is nothing to stop you offering the prize you have suggested for anyone new that signs up, that will increase your subscription rate anyway.

One last tip: Mke your your newsletter signup is prominent on every page of your website.

Good Luck

You will be able to create a buzz with your newsletter by offering content that is either not available now or is hard to find. Be real! Be short, sweet and to the point...no long, boring articles. Short snippets.

Give the honest scoop on restaurants, movies, stores, etc. And include real stories and quotes from people along with any information that can help people calm their crazy busy lives. How about a recipe from a well-known restaurant that is easy to make but incredibly delicious? How about the inside scoop on a sale or event at a shop?

I pass along things that I feel would help my friends or that they may be interested in.

Just some ideas for you to think about.

Hi,

I have been in publishing for over 14 years now and I really wouldn't advise you to spend money on a prize this early. You only have 50 people. Quality content will bring them in. Remember content is king.

I like R-A's advice on an inside scoop. That's really powerful if that's what your audience is after. You will find out if you track downloads, it will be a hint for you to pursue later as you grow.

Good luck to you and congratulations on starting the newsletter.

Cheers,
Ani Luxner