Pondering Money

I will teach you to be rich has a contest where you can get up to $2,001 to pay next month’s rent, click here to enter.  

I’ve followed Ramit’s blog for a long time back when he was blogging regularly, these days he is mainly making classes.  I haven’t taken any of them so I can’t speak to their quality, but his blog was very good.    You might wonder how he can afford to give away up to $2,001?

What he is doing is a brilliant internet marketing campaign for his financial classes.   He really wants a lot of people to view the page with a pitch for his course to sell more courses.  Here is how he is going to get a ton of views: He sent out an initial invitation to his mailing list.  I clicked on his link saw the post about one of his classes and got one entry to the contest.  He also notified me that I could get more entries by sharing a link with friends.  The more I shared the link the better my chances to win.

If a friend clicks on the link they get one entry and I get one too benefiting us both.   Again the friend is encouraged to increase their chances by sharing a link of their own with their friends.    The $2001 prize is almost certainly a small fraction of the cost to set up the software to create and tack all the links- but he can reuse that software again and again.  For Ramit’s $2001 he is going to get a lot of traffic by leveraging the power of twitter, Facebook, Linkedin and other bloggers as well.     This is a masterful implementation of the ideas from Seth Godin’s Idea virus.    Seth describes it this way: Instead, the future belongs to marketers who establish a foundation and process where interested people can market to each other. Ignite consumer networks and then get out of the way and let them talk.

This entry was posted on Thursday, June 14th, 2012 at 20:54 and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.