Also posting this here. I know i’m late to this party, so something to consider in the future:
So I know this suggestion is quite late seeing as we are already voting on prize distributions, but I was talking with some people yesterday about PT and they reminded me that there are research companies that specifically study optimal prize distributions vs. public perceptions to ultimately tell lotteries/prize distribution companies the optimal mix of prizes and prize tiers to maximize user behaviour.
Additionally, we all seem to be guessing at what we THINK are the optimal prize distributions, but we don’t really have any data…only our gut. That’s when it clicked…why don’t we take a more data driven approach to this decision by either:
a) engaging one of these companies to research and provide a recommendation on the optimal prize distribution? (I believe we should do this as any investment would pay for itself, but I can understand hesitation against this)
or
b) with our three prize distribution options why not spend one month each with all three options and see if there is a difference in the rate of user acquisition?
or (the cheapest option)
c) Why not create three sets of facebook/twitter ads promoting the three different prize distribution tiers. Spend $500 promoting each ad and see which prize distribution tier generates the most clicks.
Ultimately, what I am saying is I believe the total amount distributed and how it’s distributed are both extremely important to user acquisition. While it is probably too late to gather some data on this prize distribution tier…it certainly makes sense to get some market data on which is the most likely to generate new depositor activity and use that to inform our decisions going forward