I want to work on aggressively building my e-mail database. From what I can tell, with paying only $249/month with Repeat Returns, if I can build up my database significantly, I can market to thousands of people on a weekly basis, for pennies per person per week.
So my thought was to go to the businesses in the area, and explain to them that we are doing a special promotion and would like to offer every member of their staff (and this is where I’m split) either a FREE Pizza or a $3 Large Pizza.
So I am stuck between the two options, and here’s my thoughts on each.
Free Pizza - This would be a free small (10") pizza with one topping. On the coupon it would state that they can upgrade to a Large for $5. The obvious selling point here is that it is an absolutely free pizza, which means a larger percentage of people would be willing to fill in their e-mail address to receive it (because everyone likes free). Another plus is that since it is a free items, the employers are more likely to include it with their payroll to all the employees. In addition, it is possible that the person trying it may also get an additional item or pizza for a family, etc. But this is the case with any free offer and is subject to complete randomness. The downside is obviously that it costs $1 per person (not that this is expensive, considering we are getting an e-mail address and product in a potential future customers mouth) but it is more cost than my other option.
$3 Large Pizza - This obviously is a very discounted product with one topping, just slightly above cost or at cost depending on the topping. The disadvantage here is that people may be less likely to fill in their e-mail address to redeem it because it isn’t a free item which would lead to less redemption. Also employers may be hesitant to give this to their employees because it’s not 100% a reward as much as it is just a special offer. I also worry as to whether or not this will “undervalue” my product as we are discounting it and not just offering something for free. The advantage of course is that I am virtually paying nothing for the e-mail list I am generating, (minus my operating costs which would be there anyways).
So I am looking to you fellow TTers to see which offer you think would work the best. In the end I know the decision will be split but at least it will give me some insights and perhaps other pros and cons that I may not be thinking about (perhaps maybe even someone may have tried this and it went bust or didn’t work near as well as planned).
All thoughts and opinions are appreciated!
Added note: Also, depending on the success of this I may advertise special days on Facebook and Twitter where I randomly post “Stop in today to redeem a coupon for a (insert option here)”, just to encourage people to also engage in the social media aspect.