Well last week’s little competition (the first of many, I think!) was more of a success than I could have hoped.

I was a little worried that it would sit there with no entries, but it only took a couple of days for all 10 prizes to be given away.

I would definitely recommend this kind of giveaway if you want to increase subscriber numbers and reader loyalty on your blog. Not only did I increase subscriber numbers with the $100 giveaway, but I also got 10 inbound links to Money Blogger. Everyone wins.

Of course, you don’t need to give away cash prizes. Look around the house to see what you have that you could give away as a prize. An unused gadget… a mousemat… a memory stick.

The kind of thing that would usually get lost in the back of the cupboard - or sold for a few dollars on eBay - could make the perfect prize.

If you only have a single prize, you’ll probably need to come up with a slightly different format for your competition. Set a time limit and maybe pick the best entry.

It’s also worth noting there are tons of “prize finder” web sites out there that list just about every competition on the web. If you add your competition to a few of these sites, you can easily draw in new traffic for your blog.

I’ll be running another competition on Money Blogger very soon, so if you want a chance to win, just subscribe to the RSS feed!

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