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Cost/Email acquisition

Discussion in 'Making Money' started by youtalkmedia, Oct 25, 2013.

  1. youtalkmedia

    youtalkmedia Senior Member

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    Hey,

    I just started a contest where all you need is an email and name to join. This contest is for dog owners, and the prize is a dog item.

    I did this because I have a website with 30k unique hits per month and I wanted to start getting emails, but I am wondering how much should I spend to acquire each 1 email. As in, ATM my prize is a $10 item, how many emails should I be happy with when i give that out.

    Thanks.
     
  2. sashablack

    sashablack Elite Member

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    I'm confused :( is this a monthly raffle? if so just keep getting emails, and every month draw a winner with how ever many you have for that month, right?
     
  3. youtalkmedia

    youtalkmedia Senior Member

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    Ya, that is what I am doing, I am just wondering how many emails I should be happy with.
     
  4. sashablack

    sashablack Elite Member

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    the more the better :) then do a monthly newsletter with your last months winner and the prize so you entice people back to your site :) goodluck and hope all works out :)
     
  5. ExpressFans

    ExpressFans Jr. VIP Jr. VIP

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    Be happy with whatever you get at the start. After making a list which you think is large enough (5K+) try monetizing it.

    The see how much money you make monetizing it in the first attempt.

    Subtract cost from profit and you'll have general idea.

    You can't know for sure how much something is worth or if you're paying too much to acquire it. You'll just have to test.
     
  6. bigdog67

    bigdog67 Newbie

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    The more emails the better, and you can save emails from past draws and continually market to them. You need to figure out how much you're making each month then not spend more than say half that to get a nice profit.