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[Question] - They Like Idea, BUT....

by example123
8 replies
So I got this idea that I want to turn into a private forum for like-minded people. I've talked to around 30 people who fit into the 'target-market' that I want to be a part of the site, all 30 of them are my friends, etc. So to make it short and quick, they love the idea, infect a lot of them give me ideas on how I can make it somewhat better, etc.

But the second I mention a price of $14.95/mnth, they all say that no one would pay for it, etc.

What am I doing wrong? Am I not giving them enough value for the site, or I'm just not explaining things properly of where the $14.95/mnth will go, or what are the benefits of the site, etc?

Any comments will be helpful
#idea #question
  • Profile picture of the author JacksonPollock
    You may not be explaining it so that the value of the forum is conveyed. If I had to guess (as you didnt mention who you are targeting), I'd say your market doesn't have the desire to pay for a message board. I can't think of any message board I'd pay even $5/month to be a member of.

    Alternatively, you may be targeting a market of people with no money. What jumps to my mind is a product that focuses on students; people that are notorious for having little expendable cash. Especially for something intangible like access to a message board.
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  • Profile picture of the author Sue McDonald
    I think this is a case of what is in the name. If it is a forum I think it should be free. If people are just exchanging ideas with one another. You may charge a one off joining fee. If it is a membership site where you are providing something of value up front then you can charge a monthly fee but you must continue to provide each month other wise people will cancel.
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  • Profile picture of the author AlTheGr8
    Not sure if I understand this correctly. Are you thinking of putting together a membership site or a closed circle site for people to discuss things, exchange ideas, etc.? Is $15 a membership fee (per member) or a monthly fee to host and maintain a site?

    If it's a membership site than I am not sure why you are limiting it to 30 of your friends, why not find more like-minded people and subscribe them too?

    If you think it will take you $15 to maintain a membership site then consider Google Groups or Yahoo Groups. Those are free and you as a moderator can control membership - who can subscribe, post messages, share files, etc.
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  • Profile picture of the author SurviveUnemployment
    Listen to your friends: The days of paying for content are coming to an end. I can find any information I want for free. Why would I pay for your little forum?

    Provide good free content. If you can get traffic, you can make money.
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  • Profile picture of the author Tsnyder
    Originally Posted by example123 View Post

    So I got this idea that I want to turn into a private forum for like-minded people. I've talked to around 30 people who fit into the 'target-market' that I want to be a part of the site, all 30 of them are my friends, etc. So to make it short and quick, they love the idea, infect a lot of them give me ideas on how I can make it somewhat better, etc.

    But the second I mention a price of $14.95/mnth, they all say that no one would pay for it, etc.

    What am I doing wrong? Am I not giving them enough value for the site, or I'm just not explaining things properly of where the $14.95/mnth will go, or what are the benefits of the site, etc?

    Any comments will be helpful
    One, or a combination of, the following three:

    1. Wrong target audience
    2. Wrong business model
    3. Failure to effectively communicate value to audience

    Tsnyder
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    • Profile picture of the author Tina Golden
      Listen to your friends: The days of paying for content are coming to an end.
      You really think so? How far away do you think that is so we can warn Clickbank and the various other sites to get ready to shut down?:rolleyes:

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      • Profile picture of the author Kay King
        What am I doing wrong? Am I not giving them enough value for the site, or I'm just not explaining things properly of where the $14.95/mnth will go, or what are the benefits of the site, etc?
        That's only a partial list - perhaps the idea isn't as good as you think - perhaps no one would pay more than $5 a month for this. Perhaps, as mentioned above, the profit needs to come from something other than joining.

        Your friends will tell you it's a good idea - because they like you. If they aren't willing to pay for the idea, that says more than their approval.

        Have you looked to see what free forums are already available for this target market or this niche? Have you checked the memberships that might be available - and their cost?

        kay
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