Wanted to ask the IH community for advice on how to pursue a persistent idea that I have. It's mostly a thing that I wish existed but, with proper execution, I think many others would enjoy it too.
However, it is almost entirely entertainment value it doesn't solve any problem. So, I'm not really sure who my ideal user is, or how to determine that. It's a mass market type product. My thought is the value/appeal would grow with user count but getting the first users is going to be tough and I don't see many channels working out.
I can explain it, create landing pages, and optimize conversions but it's not something where I think blogging/content marketing/SEO would work to drive traffic. Honestly, there's not much to write about and even if I got creative it's not something people are searching for. They probably need to be told about it via word of mouth or just stumble on it, which I know is unlikely.
How can I drive traffic without a massive ad budget?
Edit, to elaborate on the idea. Imagine there was a monthly video series where a random person was chosen to spend a pile of money, say $1M, in a day. The video is the entertainment part I mentioned. It probably sounds stupid but with the right amount of creative storytelling etc I think it would actually make for an interesting 3-10 minute clip that many people would watch each month.
We could learn about the person, their finances, their family, how the money would be used (buy a car/house/yacht/college), etc, etc. and generally how it impacts their life. In my mind, the show/videos is a medley of Ashton Kutcher's Punk'd (the surprise factor), the PCH give aways (the money part), a documentary (story telling), and MTV Cribs (bling).
I know this probably raises other questions like, legal issues (is it a lottery?) and money issues (where does the $1m come from?) But I have solved those questions already and just need to figure out how to promote/would people have interest in subscribing to this like I would.
Sounds like a TV show format to me ;-)
I like the idea since it would have potential to go viral (telling your buddies you participate). I would actually pick up @thomas1964 idea here. You could even do a few Test drives with students and less money before going big with 1M
Btw. adding a time limit is genious, for the 50k student version it could even be like 2 hours. It increases the chance of "stupid purchases" and thus the motivation to talk about it and spread the word.
The Draw chance needs to be much higher than usual lottery (which is probably no problem in the first rounds due to smaller participant groups)
I think you either spend 1M in advertising ahead or you piggiback off big media brands (TV) for upfront exposure.
Traffic for the big bang could come from videos of the test run + the possibility to participate for the 1M. You better make sure it comes across as legit and not like those "500 iPhones" giveaways on Facebook...
Btw. Andrew Warner (Mixergy) once did a "Billion Dollar lottery" backed trough a insurance company with his former Email company ... and got a shitload of PR coverage ... You might find some inspiration from it:
https://m.youtube.com/watch%3Fv%3Dj6RSaqf9NsI&ved=0ahUKEwiz5s3346DXAhWobZoKHRtJDAsQwqsBCCUwAQ&usg=AOvVaw1Cry18MQ0TARiKXEnNiazN
My vision for it is very much like a TV show format & I agree with you the viral potential is something that is exciting to me. However, getting started is the hardest part. Sounds like you guys suggest since it is a mass market product, to just focus on a sub market that is potentially easy to reach and has a high probability of propelling it forward. That's great advice since I don't have a $xxM ad budget to reach a wide audience.
Thanks for the feedback and ideas, I will definitely study this Billion Dollar Lottery, not sure how I missed that back when it was live.
This comment was deleted 7 years ago
Thanks for the advice. I agree, and the mass appeal is what confuses me. This is definitely a possible strategy, to focus on one segment of demographics like students. Out of curiosity - why is it you advocate for targeting college students? Is it because they are hyper social and likely to spread the word? Or something else?
This comment was deleted 7 years ago
This comment was deleted 7 years ago
Thanks, Thomas. I added context to original post.