There various ways in which companies can earn a profit. There are conventional methods that are pretty much known by everyone, and then there are less conventional approaches to business which oftentimes can go wrong. But when they don’t go wrong, they can be a tremendous source of income and innovation for the market.
A new money earning method as far as startup companies are concerned revolves around a rather interesting concept. If you apply it well, you give away free products and make money as a result. This is a type of win-win situation, where both parties are satisfied.
“So how does it work? Surely, just handing over free stuff on the street to people won’t result in having money pop up in your bank account.”
Indeed, it’s a little more to it than that. Basically, startups have the option of striking deals with advertising companies, and uses free goods as a way to make people watch ads. The rundown of it is this: The startup company offers a platform on which ads are displayed. By watching that ad, users are enrolled for a chance of winning great prizes. This differs from similar initiatives you might have seen online, in the sense that the company offers real chances, and the prizes are also real prizes.
“What classifies as a real prize?”
Many companies or organizations will give out cheap, inexpensive tokens to try and entice people, but those are just symbolic offerings. Real prizes are truly useful and not quite cheap goods that users will truly be happy about getting. These can be quite an investment for the company, but it’s all about the return. Ad revenue has been around for a very long time now, and many can attest to its potency. Although not nearly as strong as it used to be due to ad blocking tools and people’s general disinterest in ads, companies can still make a pretty penny off of ads.
Getting people to watch ads is the really tricky part, but by offering them sincere (and free) goods that bring real value, users can more easily sustain the concept of sitting through ads. This business method has not yet been adopted at a mainstream level, but as time passes there will surely be more successful cases of enterprises looking into this philosophy.
There aren’t that many requirements for this business initiative, but a starting capital will be needed. After all, all the goodies that go out to faithful ad watchers have to come out of someone’s pocket. Later on, deals could be struck with various product and service companies so that the expenses of prizes are lessened or even completely covered.