How I Built My Business By Giving Away Free Money
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Summary
Building a following or community online is a pretty tough ask these days as the competition for the attention of users is fierce. Everyone seems to be offering more and more in terms of content and value to try and keep people on their sites long enough for a community to develop. As a result, many of us have become cynical towards sites that offer a great deal and don’t seem to ask for anything in return. Our guest on this episode of the number one small business podcast has faced an extreme version of this issue with his site as he’s giving away free money! If alarm bells are going off and you’re thinking of e-mails you’ve received from deposed princes in far off countries, don’t worry! Chris Holbrook has created his own spin on the lottery format with Free Postcode Lottery. His users simply enter their postcodes and prizes are awarded every day through a number of different draws. A dedicated community of users has grown up around the site and Chris now has an army of brand ambassadors who help spread the message and bring new users to the site. As the business grows through advertising revenue, so too do the prizes that users are able to win. How was Chris able to overcome some of the cynicism that greeted him in the early days of his business? And how was he able to create an environment that was suited to growing a powerful following? Chris is going to talk us through these points on more on this episode of your favourite small business podcast. Issue Challenged in this Small Business Podcast: How can I build a loyal and trusting following in today’s noisy world? About Chris: Chris Holbrook has worked as a freelance web developer for such high profile clients as Nokia, BT and the BBC. It was while working as a developer that he struck upon the idea for his site, Free Postcode Lottery. The site is a lottery but users needn’t buy a ticket, they simply enter their postcode. Prizes are awarded every day through a variety of different draws. Through advertising revenue, Chris is able to grow his business at the same time as sharing success with his users. Actionable Tips: * Be visible, transparent and authentic. If people can see the person behind the business, they’re less likely to be cynical about it. * Cultivate your user base. Allow your users to become part of the website and part of the movement. Always exploit opportunities to delight your users or customers. * Persevere and be patient. It’s very difficult to be heard online and it’s tempting to give up if things aren’t going well. Don’t become disheartened. Top Quotes: * “The very first mistake I made was choosing April 1st to launch the site!” * “You do get lots of cynicism but at the same time I also get lots of people who go the extra mile and constantly surprise me.” * “Public negativity is an inevitability. I’ve been lucky so far in that there hasn’t been a bad review or article or any negativity from anyone who matters. There has been negativity from trolls though.” * “If I can make a living from the website in a way that means that there are no losers, why would I change what I’m doing to make money? What really excites me is that the model benefits everyone and it’s scalable so the mutual benefit grows.” * “Having a community like mine is like having an army!” Chris’ Links: * Free Postcode Lottery (http://freepostcodelottery.com/) * Chris’ LinkedIn (https://www.linkedin.com/pub/chris-holbrook/11/34/911) * Chris’ E-Mail ([email protected]) Key Timestamps: * 01:04 Challenged Issue
First published
10/12/2015
Genres
Duration
34 minutes
Parent Podcast
Learn Marketing Interviews
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