by HB
What is it?
OK, but... what is it?
What do they win?
Prizes vary, typically one "big" prize and several small.
For example, one drawing might award:
1 grand prize: KitchenAid hand mixer
10 Yummly t-shirts
100 Yum stickers
Spending $100 or less per drawing could produce a much greater return in terms of user value.
How well does it work?
Summary
Treasure Hunts and Scavenger Hunts are proven to increase retention and revenue, and even a small amount of spending on prizes can result in widespread participation.
But even with only 1% participation: