Listbuilding with a Give-Away?

Hi,

I'm reading Lynn's 31 day listbuilding series and am really excited by it.

My idea for my opt-in incentive is giving something worth about $100 to one subscriber after 2 to 3 weeks. A draw if you will. No entrance fee, just an opt-in.

I'm certain I'll get a lot of opt-ins (my daily traffic is about 300 to 500), but I'm concerned I'll be attracting mainly "freebie seekers" as Lynn puts it.

I'd be grateful if anyone can comment about this strategy and whether I'll be attracting only freebie seekers which will render my list not very lucrative.

That could definitely be concern, but may also depend on your target market. I prefer to give away a report with some good actionable information that starts to build trust with my readers. Ideally the information will be "useful but incomplete". For example, if I was building a list on a link building site, I'd show them in a video or report how they can find out how many backlinks they have right now and then show them how much their competition has.

After they are signed up for my list, I'll then start to teach them about and offer them products on link building strategies.

Thank you for your thoughtful response. I agree with all your points and your approach sounds solid. The last thing I want is to spend money and time building a "freebie-seeker" list. I'll have to give it some thought. Again, thank you for your response.

I think giving a freebie to get signups is a norm. Always make them confirm before receiving the freebie. Have a good sales leter on the freebie download page so they will want to stay on your list to learn what you will teach them.

Thanks a lot Boomerang for the info and the tips. Much appreciated!

I have seen cash prize contest work pretty well. One of them was "Put More Cash In Your Pocket Contests with Loral Langemeier", here's a link showing how she did it http://www.youtube.com/watch?v=Kvc-9KDshGQ. Observe how she plugged her book.
This is a link of a video of one of the entrants, which I think is funny ;-) http://www.youtube.com/watch?v=5BNN_kKjyq0

Another person who's running a contents right now is Brendon Burchard, for his "Total Product Blueprint", teaching people how they can create products from what they are an expert at.

Here's his Facebook page which explains it http://www.facebook.com/pages/Total-...34425496630143

Thanks a lot Hakan. More excellent ideas and approaches. I appreciate it.