This is a site idea I've had for a while, but the success of mmmzr has encouraged me to give it a shot. GetYourFreeAd.com I've tried to avoid the "ponzi" label (valid or not) that people have been putting on some recent sites by only offering to refund an advertiser's money - not double or triple it or whatever. Also, you don't have to buy the top spot - as long as you're on the page, you can pay whatever you want. My questions: 1. How easy do you find it to use? 2. Any suggestions on the look of it? 3. Other thoughts? Thanks! Mickey
The refunds scheme takes a bit of thought to understand, might put people off... Also if you are refunding the full amount to your advertisers, who is paying the transaction charges? If you're paying them then this whole thing is going to cost you money, not make you money!
Fair enough. I'll work on simplifiying that a bit. The full amount won't always get refunded - it's a matter of how much is spent as time progresses. I lay it out in detail on the how it works page, but 50% of each new ad purchase is used to refund previous advertisers. The other 50% goes toward PayPal fees and then the leftover is profit. Any other thoughts?
Well if that's the case, you'll only be making money on the highest advertiser's sales - once they get pushed down they get refunded, and it stands to reason that all advertisers (or at least the vast majority of them) will get their money back at some stage. Take some sample sales figures and work it out for yourself on paper... I think you'll find that you gonna need some seriously large sales figures to get anything out of this one. And if that happens the tax man will take most of that from you too! If you can, change your payments structure (your existing advertisers may refuse). Or maybe I'm missing something?
I think you're still missing something. On each purchase, half of the price (minus PayPal fees) goes into my pocket. Forever. The other half of each purchase is used to pay back previous advertisers. Simply put, I'll get to keep half of what's spent by users on the site. However, since prices will keep going up, most of the users will get their money back as well. In theory it should work pretty well...
Ok, I guess I didn't fully understand the concept... Since I'm running a similar site would you be interested in trading a $5 ad on your site for a $5 ad on mine?
Great idea. To avoid getting too off-topic, let's discuss that via e-mail: mickmel (at) gmail.com Anyone else with suggestions for the site?