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When to monetise your site?

by technoreabit
14 replies
Hello, i opened a social community website for electronic music producers about 1 month ago, so far i have 130 members, so i just wanted to ask you, When does one start to monetise thir site? By monetising i mean allowing users to sell their content, pay for subscription services, etc...
#monetise #site
  • Profile picture of the author Psst
    Banned
    When I build niche sites, I usually wait a couple of weeks, till I get some visitors and SE rankings before I completely monetize them.

    But in your case, I'd start trying and testing what works in terms of monetization.

    Thanks!
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  • Profile picture of the author matt5409
    Originally Posted by technoreabit View Post

    Hello, i opened a social community website for electronic music producers about 1 month ago, so far i have 130 members, so i just wanted to ask you, When does one start to monetise thir site? By monetising i mean allowing users to sell their content, pay for subscription services, etc...
    Just go for it. You'll hear a lot of people recommend you hold off until the site has grown, but then you'll just p*ss off returning members. You might as well make it transparent from the outset - everything has a monetary goal (otherwise you wouldn't be here). Good luck!
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    • Profile picture of the author bzz
      Originally Posted by matt5409 View Post

      Just go for it. You'll hear a lot of people recommend you hold off until the site has grown, but then you'll just p*ss off returning members. You might as well make it transparent from the outset - everything has a monetary goal (otherwise you wouldn't be here). Good luck!
      Totally, and this way you can also design everything as holistically as possible up front. You can easily upset your userbase if you've been ad-free for months or years and then suddenly jam ads everywhere. They might wonder if you were bought or taken over. IMO, an obviously monetized community makes it look more stable, like it isn't some cheap thing that will only last for a month. And with what you're doing, you might get more traffic and users from people who are specifically looking to use your services.
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  • Profile picture of the author fazlerocks
    Wait until you are high on Alexa ranking. More ads may harm the impression on the website. So you have to very careful while deciding when to show and where to show ads.

    Wishes
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    • Profile picture of the author matt5409
      Originally Posted by fazlerocks View Post

      Wait until you are high on Alexa ranking. More ads may harm the impression on the website. So you have to very careful while deciding when to show and where to show ads.

      Wishes
      what alexa ranking got to do with anything...?
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      • Profile picture of the author fazlerocks
        Originally Posted by matt5409 View Post

        what alexa ranking got to do with anything...?
        I meant, A high Alexa rank also indicates that one is getting higher traffic. Thus, placing ads will be beneficial. Though there are many sources to track traffic. But this is will be easy way to decide.
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  • Profile picture of the author Anonymous Affiliate
    I would go for it. Why continue growing a site that you don't know whether it's convert into money for you? Start doing it from the beginning so you can know pretty much from the get-go whether it's a project worth developing.
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  • Profile picture of the author bzz
    Yeah really, hobbies don't buy you lunch
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  • Profile picture of the author Jenny4u1
    You can start. If members increased your revenue will be increase that's all.
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  • Profile picture of the author George Tee
    As you are building a community rather than a seo site, and what you are offering is of value to your members rather than "monetize" for yourself, you can just start opening up the service and see where it takes you.
    Signature

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  • Profile picture of the author technoreabit
    WOW!!! Thank you all for the great info, joining this forum has been the smartest thing ive done in a while , i Have chosen this approach for the future:
    The site has had ads from the launch, and the users dont seem to mind, so i will just keep them there,

    I introduced a method for artists to sell their digital goods and physical merch, (introducing a 0.50$ service charge along with 15% from their sales.

    When the site reaches 500 users, i will introduce one time free membership fees, (existing users will receive this free)

    Are there any ways to thank you guys for the answers besides my worthless wriitten thanks? +1 or something? (im a newbie)
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  • Profile picture of the author davidoriol101
    once a week is fine
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  • Profile picture of the author handy
    I waited till I had an email list of 3000 before monetizing...
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