I don't think you will need a lot of money for an referral contest.
But the money you put in these contests definitely help on creating a buzz and that is what you need.
Holding a referral contest is a correct way to begin.
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I don't think you will need a lot of money for an referral contest.
But the money you put in these contests definitely help on creating a buzz and that is what you need.
Holding a referral contest is a correct way to begin.
if the amount of money is less then less people would take part in the contest, definitely some good amount of funds are required.
I believe if the contest is done in a legit way, it can be very successful, referral contests are the most easy way to boost the forum/website, especially if you offer a good winning prize. If you spend $500 on other various advertisment, investing the same amount on referral contest will be more beneficial and less time consuming.
The best way according to me to win a referral contest is "Word Of Mouth". This is the most legitimate way and brings real visitor!