A giveaway entry is a relatively cheap, fixed-cost reward, as you know exactly how many prizes of how much value you will offer in each sweepstake. The reward is much higher than in a regular referral program as the winner takes it all. As the reward is higher, it may be more motivating than a small referral reward offered to all participants.
- Give a reward (entry) for each successful referral – this way you will motivate multiple referrals as well.
- Offer a generous reward for the winner.
- You can choose the frequency with which you will run the giveaway. It can be monthly, weekly, quarterly or daily. Depending on the amount of referrals and the size of rewards you want to offer to the winners.
- Ensure you track which referrals are successful, to prevent fraud (for example, inviting non-existing emails or customers inviting themselves).
- You can offer more than one reward, for example you could offer 5 rewards of $100 each one month to offer more rewards of a smaller value to the winners (increasing the chances of winning for the participants).