I started a new site and I need some advice on the best ways to drive traffic...
My new site (Raffles4Watches.com) sells digital posters, a fancy term for downloadable JPG, for $10. For each poster you buy, you'll be given a free entry to win a new watch. Winners can choose from brands like Rolex, Panerai, and IWC. The posters are one-of-a-kind, and limited editions to 1,200 pieces. Once we sell 1,200 posters, a winner is chosen and we immediately begin selling a new poster with entries into a new raffle.
The winner's picture, choice of watch, and a recording of the phone call to say "YOU WON" will be posted on the site as well.
I have tried most of the basic stuff, SEO, facebook page, linkedIn, etc. My problem is that after subtracting the cost of the watch, we only make about $1.60 per poster. The CPC for adwords like "cheap Rolex" is more than we would make, even if everyone who clicked bought a ticket (which we know is really only 1-3% most of the time).
So if anyone has any insight on marketing techniques based on the financials I mentioned, I would be very grateful.