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08 June 20120 Comments by Jon M

Giffgaff payback hits £1 million

Golly goodness! Big news from Giffgaff towers this week. The network run by you claims that they are paying out a million smackeroos this June.

For those of you who don’t know, Giffgaff works slightly differently to the other networks. They don’t run expensive call centres or pay for price high street leases. Nor do they splash out on billboards and big bucks advertising. Instead they rely on their loyal customers to field the majority of customer support queries and to spread the word about their amazing offers. By saving all this money, not only can they offer the best value deal in the UK, but they also are able to give back to their users by paying out money every six months.

Last December they paid out a total of £250,000 as well as a huge charity donation but they’ve really outdone themselves this time. No matter how you look at it, it’s pretty amazing that they’ve hit seven figures already. We crunched some numbers and ran some polynomial extrapolations and have actually managed to predict how much they’ll pay out next payback period in December this year. Assuming things carry on pretty much the way they’ve been going, we reckon there’s a good chance Giffgaff users will be cashing in over £2 million in six months’ time. Astonishing, eh?

Check out this graph we’ve made:

Wanna get involved and earn a share of the cash next time round? One lucky member actually made over sixteen grand! Can you say “cha-ching”? If you want in, simply order a SIM and sign up and you will be able to start earning as soon as your activate your SIM card.

Did you think that this would ever be possible? Are you a Giffgaff member and if so how much did you earn this time round? Do you think our prediction is accurate? And finally, will this revenue model be able to last?

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