Advertising £1!

Discussion in 'General Business Forum' started by Fisher Consultancy, Nov 20, 2008.

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  1. Fisher Consultancy

    Fisher Consultancy UKBF Newcomer Free Member

    141 1
    I have just started setting up a website which will advertise local businesses in my area, and it will also let people leave reviews about the businesses in the area. Please take a look at a website it will be very similar to www.fabulousplaces.co.uk or .com.

    I will be running this website to start with at cost and just charging enough to keep ticking over. This is to get the site populated with lots of content. I have just been made redundant from my 9-5 job with the credit crunch and am struggling to make ends meet, and have come up with an idea! Its nothing new i'm affraid.

    Please dont look upon this as a charity case but just bear this in mind. How about i set up a website like 'UKBFmillionpixelwebpage', it will have 10,000 boxes for advertising. I will charge just £1 per box for advertising. I will be going to businesses daily promoting my new business venture so i would include 'telling everyone about the pixel site'.

    This is a very popular business forum, and im sure you would all be up for some advertising. I will be visiting businesses daily that maybe able to use some of your services but dont use this forum, they could have a look at your advertising and then even see this forum and register.

    What do you think? Get advertised to more businesses for just £1 and help a victim of the credit crunch in the process! I would promise to keep the site open for as long as possible and promote it whilst selling the services of my other venture.

    Please post and let me know your thoughts.
     
    Posted: Nov 20, 2008 By: Fisher Consultancy Member since: Oct 8, 2008
    #1
  2. Chris-Bateman

    Chris-Bateman UKBF Newcomer Free Member

    135 25
    £1 per month or £1 forever? Allowing more than one ad for the same company? I would give it a go :)
     
    Posted: Nov 20, 2008 By: Chris-Bateman Member since: Sep 28, 2008
    #2
  3. Fisher Consultancy

    Fisher Consultancy UKBF Newcomer Free Member

    141 1
    Without sounding too much like a charity because of what has happened to me... £1 for 1 box for ever (forever being as long as i can keep the site live, atleast 2-3 years), i thought getting everyone onboard from this site would be great, £1 is nothing and it will help me out over the next year whilst starting a new venture. As i said i speak to roughly 20-30 businesses per day monday to friday, i would also show them the pixel site and tell them about this forum as a place to network and bul business relationships for the future.
     
    Posted: Nov 20, 2008 By: Fisher Consultancy Member since: Oct 8, 2008
    #3
  4. Fisher Consultancy

    Fisher Consultancy UKBF Newcomer Free Member

    141 1
    You can have as many boxes as you wish and as many different adverts as you wish, however t will be £1 per box, so if you has 10 boxes thats £10. Still great!
     
    Posted: Nov 20, 2008 By: Fisher Consultancy Member since: Oct 8, 2008
    #4
  5. sourcing168

    sourcing168 UKBF Newcomer Free Member

    9 0
    it sounds a great idea...
     
    Posted: Nov 21, 2008 By: sourcing168 Member since: Nov 2, 2008
    #5
  6. streetslocal

    streetslocal UKBF Newcomer Free Member

    3,046 363
    What i dont like is the phrase is:

    As long as i can keep it going maybe 2-3 years.

    You will have to give a set time period especially if you want to take payment by cards.
     
    Posted: Nov 21, 2008 By: streetslocal Member since: Nov 27, 2007
    #6
  7. LINGsCARS

    LINGsCARS Banned

    1,774 414
    So, why will it fail after 2-3 years? Either this is viable or not.

    For £1, I would expect to get very little. I would never consider spending just £1.

    Why say "I will be running this website to start with at cost and just charging enough to keep ticking over." - why not make it a success. I have no interest in things at cost, obviously they won't last.

    I am proud to call myself a friend of Alex Tew, who was the young man who invented the http://www.milliondollarhomepage.com. If you look you will see I am on that page.

    As soon as I heard about him, I spent £900 dollars on a 30 x 30 advert (900 pixels), and the returns from that have been fantastic over the past 3 years. If Alex's offer had been an advert for £1 I probably would not have bothered.

    If you have a good product, you should be able to make money, if not, you won't.

    Your suggestion to use the UKBF name is wrong. Why would you want to trade on the back of this forum, and why would they allow it?

    \
    But it IS a charity, or at least a non-profit making business. The costs of administering 10,000 adverts will far outweigh £10,000 in turnover. Pay tax and you will make £7000. How can you possibly do this while speaking to 20-30 businesses a day? You will be doing it yourself as you will not be able to employ anyone with that turnover.

    You will a) starve, b) fail, c) waste your time.

    You are constantly posting ideas where you want people to pay you money. You are rarely offering a worthwhile service, it just boils down to "so people pay me money for... X".

    What is the benefit to anyone of visiting such a website of 10,000 adverts lumped on a page?

    Alex Tew created a MASSIVE traffic base, that was his benefit that people queued up to take part in. He was mentally over all the press, BBC, everywhere. He did not just offer to speak to 20 businesses a day and "mention" his site.
     
    Last edited: Nov 21, 2008
    Posted: Nov 21, 2008 By: LINGsCARS Member since: Feb 16, 2007
    #7
  8. LINGsCARS

    LINGsCARS Banned

    1,774 414
    For anyone's interest Alex Tew created the Million Dollar Home Page to fund his university course. He lived in Swindon, he did not like the idea of taking the Student Loan. He generate massive publicity and sold 1,000,000 pixels at $1 each = $1m gross.

    He did not spend months canvassing opinion, he had the idea and made it work.
     
    Posted: Nov 21, 2008 By: LINGsCARS Member since: Feb 16, 2007
    #8
  9. Fisher Consultancy

    Fisher Consultancy UKBF Newcomer Free Member

    141 1
    I think you may have read my post ling. I have set up another business where people can write reviews about them. That is the business i would be running at cost for the first year just to generate listings and traffic. This pixel site would be totally seperate.

    Just thought it would be pretty good to have a site like that advertised with everyone from this forum. Even if you got 1 contract from the site it would be well worth the £1 investment!
     
    Posted: Nov 21, 2008 By: Fisher Consultancy Member since: Oct 8, 2008
    #9
  10. Fisher Consultancy

    Fisher Consultancy UKBF Newcomer Free Member

    141 1
    2 takers! Maybe not the best idea then... :)
     
    Posted: Nov 21, 2008 By: Fisher Consultancy Member since: Oct 8, 2008
    #10
  11. SLR

    SLR Guest

    76 6
    Ling, out of interest, whats he been up to since the milliondollar homepage and pixelotto?

    Any new projects i havent heard of yet??

    Cheers
     
    Posted: Nov 21, 2008 By: SLR Member since: Feb 10, 2008
    #11
  12. Martin P

    Martin P UKBF Newcomer Free Member

    343 80
    ^Same as above
     
    Last edited: Nov 21, 2008
    Posted: Nov 21, 2008 By: Martin P Member since: Nov 20, 2008
    #12
  13. ThePrintBarn

    ThePrintBarn UKBF Newcomer Free Member

    192 32
    ^ me three (*waits intently*)
     
    Posted: Nov 21, 2008 By: ThePrintBarn Member since: Jun 9, 2008
    #13
  14. LINGsCARS

    LINGsCARS Banned

    1,774 414
    Hahahaha, well, he is keeping his project close to his chest. To be honest, with his income form associated stuff (he has just sold 1000 prints of the MDHP, I bought a numbered and signed copy - a piece of internet history - for £75), so there is another £75k he has made! Very nice it is too on my wall. He would not let me have No. 1 poster, he says he is keeping that for himself.

    He does not tell me his project at the mo, just says:

    "Latest project, I have something I'm working on, hopefully launch in
    couple of months. No pixels this time round though :0"


    Reason I know him is that we had the double coincidence, I paid a $900 ad and he saw Dragon's Den. So we kind of met online in a strange way.
     
    Posted: Nov 21, 2008 By: LINGsCARS Member since: Feb 16, 2007
    #14
  15. BeautyScientist

    BeautyScientist UKBF Newcomer Free Member

    287 18
    Great idea, lousy pitch.

    I'd pay £1 for an advert on a site like this - I saved a couple of quid buying some plates today so why not have a bit of a flutter. As Ling's experience shows, a punt like that can pay off and the stake is so low as to be not worth worrying about.

    What would influence whether I would give it a go would be

    a- it would have to be really easy to sign up for. And I mean really easy. If I have to spend more than a few minutes doing it I would give up.

    b- it would have to feel like a genuine chance, not a scheme.

    I would be uncomfortable about the idea of it being a charity. I take giving money to charity seriously and spend time looking for how best to make a contribution. I am afraid one guy struggling with redundancy doesn't even get on the radar. I don't spend money with businesses on the basis of how much they are struggling.

    The other problem is that you haven't actually done it yet. I don't know how much you are planning to invest in this, but I would think you can get a reasonable website created and hosted for a few hundred quid. Wouldn't it be worth setting it up before pushing it? I understand that this post is asking for opinions on whether or not it is a good idea, but is the feedback from a forum really going to decide whether you try it or not?

    But yes, I think it is a good idea and if the site looks okay I'll probably be in for a fiver's worth.
     
    Posted: Nov 21, 2008 By: BeautyScientist Member since: Jan 5, 2007
    #15
  16. spigwell

    spigwell UKBF Newcomer Full Member

    654 180
    Not a bad idea really although some more thought does need to be put into it.

    Interesting to see you would be selling for £1. You know and I know that there would be very very few takers at that price, most people would be going for between 5 and 10 boxes to give it a try, so your £10k turnover has just grown to between £50k and £100k. If you were charging £10 per box you may of got 1000 interested people after a lot of hard work. Charging just £1 per box will get you 10,000 people interested all spending a lot more than your asking price.

    As someone has already said good idea terrible pitch. Ditch the sob story and the charity angle and go for it. Done right and at an acceptable price where the customer instantly wants to spend more, you could make a great success of it.

    Good Luck

    Gary
     
    Posted: Nov 21, 2008 By: spigwell Member since: Mar 7, 2008
    #16
  17. PointandStare

    PointandStare UKBF Newcomer Free Member

    940 192
    I'm assuming that you'll accept payment only by paypal.

    In that case you'll have paypal fees:

    1.00 GBP
    - 0.03 GBP (3.4% PayPal transaction fee)
    - 0.20 GBP (PayPal fixed fee)
    = 0.23 GBP (PayPal Fees)
    1.00 GBP = 1.00 GBP (1 GBP = 1.00000 GBP)
    - 0.00 GBP (2.5% Currency Conversion Fee)
    = 0.77 GBP (Amount Received)

    Minus tax etc and you'll probably make around 50p

    As for getting the site up and running.
    It'll probably take me about an hour to register the domain, build the site and get it hosted.
    After that it'll cost pennies to run.
     
    Last edited: Nov 21, 2008
    Posted: Nov 21, 2008 By: PointandStare Member since: Apr 20, 2008
    #17
  18. streetslocal

    streetslocal UKBF Newcomer Free Member

    3,046 363
     
    Posted: Nov 22, 2008 By: streetslocal Member since: Nov 27, 2007
    #18
  19. BeautyScientist

    BeautyScientist UKBF Newcomer Free Member

    287 18
     
    Posted: Nov 22, 2008 By: BeautyScientist Member since: Jan 5, 2007
    #19
  20. LINGsCARS

    LINGsCARS Banned

    1,774 414
    The "great idea" bit just goes over my head. Tell me what I am missing.

    I don't understand where the traffic comes from.

    M$HP: Apart from an emotional sell (a REAL fired up kid - as opposed to the 16 year old talking heads on this forum who spout bullsh1t) Alex Tew and the Million Dollar Home Page really got massive media interest. He knew that was the key and he went for it with total commitment, he put his neck on the line. Traffic figures to die for, a PR sensation, daily updates on the BBC, on TV every 5 minutes, and apart from the fact that you FELT like contributing (big names like The Times also advertised) to show the system what a fired-up British kid could do to pay his uni fees... the last few pixels were sold at way over $1 a pixel, in an ebay auction!

    ...Alex was brave enough to set a massive target ($1m), make it worthwhile for advertisers, he priced it well - actually damn expensive - and had full confidence.

    The suggestion we have here is totally lacking in confidence, I cannot see why anyone would ever visit the project, it is being done by an adult who seems verging on the desperate/desperately unconfident (sorry!), there is no page, no mock up and it's just a rather weak idea. Then you get this slightly pathetic "I will keep it up as long as I can manage... maybe 2-3 years" What is THAT all about?

    Can't anyone else see this?

    I just don't know why everyone is saying "good deal", "great idea", "not a bad idea".

    It IS a bad idea, because there is absolutely no point to it. What on earth is the point of a page full of £1 adverts? Where's the sexy catch? Where's the sizzle? It's as flat as a pancake.

    Tell me what I'm missing?
     
    Last edited: Nov 22, 2008
    Posted: Nov 22, 2008 By: LINGsCARS Member since: Feb 16, 2007
    #20
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