Kind of a broad question, but I am planning a project in a niche that I have a very personal connection with, and that would lend itself beautifully to either a specialized social networking site, or a membership site that essentially offers services and community features, in return for fees. When I first thought of it, and came up with the domain, I thought "blog" to promote related offers and CB products, maybe creating a CB product of my own. Giving it some time to gestate, I think that would be wasting the opportunity.
Niche Social Network or Membership Site?
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Kind of a broad question, but I am planning a project in a niche that I have a very personal connection with, and that would lend itself beautifully to either a specialized social networking site, or a membership site that essentially offers services and community features, in return for fees.
When I first thought of it, and came up with the domain, I thought "blog" to promote related offers and CB products, maybe creating a CB product of my own. Giving it some time to gestate, I think that would be wasting the opportunity.
The broad market is HIGHLY profitable, and my niche is essentially a micro niche, not all that competitive but with decent demand, and presumably will soon grow in demand, and get overly exploited by savvy marketers (thus I want to move fast.)
My questions are:
1) Is monetizing a social network site as easy as it may sound? I have seen a hardcopy book (title and author escapes me) professing that starting social networks (presumably free ones) is one of the hottest and best routes to financial freedom online.
In that case, would the revenue come just from ad revenue and CPA offers, etc?
2) Looking at it from the "online real estate" perspective - which one would make a better "investment" long term? I would think that either model could be grown sufficiently and then flipped for large dollars. I am just interested in figuring out which one stands the best chance of building and keeping equity (both in ramping up quickly, and long term equity.)
I realize there are probably no absolute right/wrong answers. Just looking for some perspective here, especially from those of you with experience in launching either model.
P.S. The niche has nothing to do with those in my signature, just FYI.
When I first thought of it, and came up with the domain, I thought "blog" to promote related offers and CB products, maybe creating a CB product of my own. Giving it some time to gestate, I think that would be wasting the opportunity.
The broad market is HIGHLY profitable, and my niche is essentially a micro niche, not all that competitive but with decent demand, and presumably will soon grow in demand, and get overly exploited by savvy marketers (thus I want to move fast.)
My questions are:
1) Is monetizing a social network site as easy as it may sound? I have seen a hardcopy book (title and author escapes me) professing that starting social networks (presumably free ones) is one of the hottest and best routes to financial freedom online.
In that case, would the revenue come just from ad revenue and CPA offers, etc?
2) Looking at it from the "online real estate" perspective - which one would make a better "investment" long term? I would think that either model could be grown sufficiently and then flipped for large dollars. I am just interested in figuring out which one stands the best chance of building and keeping equity (both in ramping up quickly, and long term equity.)
I realize there are probably no absolute right/wrong answers. Just looking for some perspective here, especially from those of you with experience in launching either model.
P.S. The niche has nothing to do with those in my signature, just FYI.
- Jared Alberghini
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- dou9las
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