The Powerball Effect…

How I turn cold, hard skeptics into “rabid buyers” online without wasting a ton of money on ads.

There I was, in the checkout line of the Cumberland Farms gas station.

I never went inside gas stations, I hated them, I was more of  a “pay at the pump” kind of guy.

So, why today?

You see, Powerball had hit $920 million...

Like going inside gas stations, I also never played the lottery

Years of calculating odds in my head at a poker table enlightened me to just how much of a “sucker’s bet” it really was.

1 in 292 million...

Only an idiot would take those odds!

The guy in front of me picked up his 12-pack of Buds, carton of Marlboros and - you guessed it - his pile of Powerball tickets and headed for the door.

I was next

“I’ll take ten Powerball tickets, please,” I heard myself say.

It felt like I was standing beside myself, watching a stupider version of “me” make one irrational decision after another. 

The cashier dragged his body, sloth-like, to the big, yellow lotto printer for the 374th time that day…

“Better make that twenty,” I said, before the sloth-cashier-man could push the buttons.

Better make that twenty? What the f$#& is wrong with me?

My odds of 1 in 292 million had just jumped to...still 1 in 292 million…

...even though I had just DOUBLED the amount of money I intended to spend!  

There I was, throwing money away and I decide to double down?!

I gave the cashier my $20 bill and accepted my useless slips of paper that would inevitably become tomorrow’s night stand clutter. 

Then it happened…

When I stepped outside the gas station something had shifted.

The air was crisp and fresh, taking the place of the “gas-soaked pavement” stench that greeted me on the way in.

My self-judging attitude turned into a lighthearted optimism.  

”What if?” I thought. 

I mean, I have just as good a chance as anyone else, right?

The daydreams poured in…

I thought about the Lamborghini that I’d drive…

...the private planes I’d charter for vacations with friends and family…

...the beach mansion I’d live in.

The rest of my life was being mapped out inside my own head like I had already won!

That night I laid in bed, eyes glued to my iPhone screen, browser open to powerball.com...

...refresh...nothing…

...refresh...nothing…

“The numbers were drawn three minutes ago, so they should post any second now,” I thought.

My fantasy life was only one “refresh” away!

I slid my thumb down again for the next refresh and...THERE THEY WERE!

03...20...48...54...59...and Powerball is 04.

I thumbed through my stack of tickets, eyes moving back and forth between screen and paper, looking frantically for something to match up.

NOTHING!

Not...one...goddamn...number.

My lighthearted optimism faded as quickly as it had arrived. 

I tossed the useless stack of papers onto my nightstand, rolled over and went to sleep.

DID YOU SEE IT?!

There is a lot of gold in this (true) story, so let me break it down, piece by piece…

1 - Disarming the skeptic

“I never played the lottery

Years of calculating odds in my head at a poker table enlightened me to just how much of a “fool’s bet” it really was.”

I knew how utterly stupid playing the lottery is, but I did it anyways. 

A recent study concluded that the “chance” of winning real, monetary value altered the brain activity of participants

The part of the brain controlling logic “turned off” while the emotional, impulsive part of the brain “lit up like a Christmas Tree.” 

Casinos know this - and they use it.

Lotteries know this - and they use it.

I know this - and I use it...here’s how:

I may not have $920 million to give away but it’s incredibly simple to create the same feeding frenzy by giving away ANYTHING of material value.

In fact, I’ve run giveaways where the prize is valued anywhere from $100 to $3,000+

In both instances, my signup rates were relatively similar - 80%+!

The key is to get the participant to envision a better life with whatever is being given away!

Got it?

Good...let’s move onto

2 - Delivering the “Unfair Advantage”

““Better make that twenty,” I said, before the sloth-cashier-man could push the buttons.”

Increasing the odds of winning moves your participant to take further ACTION.

“What action?” you might be asking.

Any action you want!

In my case, I was willing to suspend my disbelief and buy even more tickets simply because my emotional brain thought it would give me a better chance of winning. 

By increasing the chances of winning a giveaway, you can ask participants to…

...follow social media accounts…

...take a survey…

...share the signup page for the giveaway with friends and family…

...the possibilities are endless!

With numbers 1 and 2 firing on all cylinders, we are…

3 - Opening the “Window of Attention”

“That night I laid in bed, eyes glued to my iPhone...

...refresh...nothing…

...refresh...nothing…”

A funny thing happened between the time I bought my Powerball tickets until the time the winning numbers were announced...

My attention was tuned in to ANYTHING that had to do with winning the prize!

I call this the “Window of Attention” because during this timeframe you have your participant’s undivided attention for ANY message you want to deliver.

Hint: this is a GREAT time to educate participants about the products you’re giving away (and hopefully selling, after the winners are announced).

During the timespan between sign-up and winner announcement, I’ve noticed substantially higher:

• email open rates
• click through rates
• video views 
• ...everything!

You...have...their...ATTENTION!

And like Gary Vaynerchuk always says,"The currency of business is attention."

In fact, “Opening the Window of Attention” makes it a great time for:

4 - Making the Sale

“Not...one...goddamn...number.

My lighthearted optimism faded as quickly as it had arrived. 

I tossed the useless stack of papers onto my nightstand, rolled over and went to sleep.”

I bet you were expecting a different quote, weren’t you?

The Powerball tickets may have been the thing that I purchased but the thing I “bought” was this…

“I thought about the Lamborghini that I’d drive…

...the private planes I’d charter for vacations with friends and family…

...the beach mansion I’d live in.”

During my “open window of attention” I sold myself a better life. 

Could I still own these things even if I didn’t win them?

Of course!

Now, think about this concept on a much smaller scale.

What would have happened during my “open window of attention” if I entered a giveaway for a $100 product? 

I would STILL be thinking about how my life would improve if I won!

The only difference is this:

If I don’t win the $100 product - I CAN BUY IT!

This last point is the GOLDEN GOOSE!

Before announcing the winner of your giveaway, make an offer to giveaway participants. 

The most effective offers are a discounted or bundled version of the product(s) being given away.

Let's recap:

1 - Disarming the skeptic

2 - Delivering the “Unfair Advantage”

3 - Opening the “Window of Attention”

4 - Making the Sale

Are you using giveaways to their full potential to sell your products? Let's talk about it...