Do you think giving away cash on a daily basis is good business ?

Question

Recently my company has been giving away cash up to $50,000 to customers. When they purchase , their names / info is entered into a daily raffle. we hoped that this would bring more online shoppers. What do you think ? should we stop ?

http://www.officialmystorespace.com

Answer 1

Wow, generous and good gimic.  If it brings more customers then yay!!! However, good business?  Maybe not.  Is your turnover enough to justify such a large giveaway?  Why not give away an item that costs you a coulpe a  hundred dollars instead..  I got a free MP4 with my compy and was rapt.

You don't want to be giving away more than you making.

Good luck