[Constructive Rant] ANYTHING Can Be Monetized!

Jeremy Kelsall

15 years ago

I tend to agree with you unless it is a subject or niche that has a massive amount of free information.

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Daniel Molano

15 years ago

Originally Posted by Jeremy Kelsall

I tend to agree with you unless it is a subject or niche that has a massive amount of free information.

I think if you find a way to monetize it creatively you can still strike a gold mine. Look at that guy who is literally selling shit (yes, as in poop) and making big bucks out of it.

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Jeremy Kelsall

15 years ago

LOL - true, it is a novelty

Originally Posted by Daniel Molano

I think if you find a way to monetize it creatively you can still strike a gold mine. Look at that guy who is literally selling shit (yes, as in poop) and making big bucks out of it.

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SullyUI

15 years ago

Good points, thanks for keeping an open mind for us

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Killer Joe 15 years ago

Thank God for this timely post. My website selling Cactus handled glovebox knobs for 1959 Edsels hasn't made me the kind of money I was hoping for so far.

Right when I'm about to throw in the towel I read this and think "Bingo! 15 more Squidoo lenses, 23 more Hub pages, a bakers dozen of YouTube clips, and social bookmark that bad boy at the top 300 social bookmarking sites and I'll be off and running.

Thanks Daniel, I owe you one.

KJ
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Nick Brighton

15 years ago

Hey Dan,

I agree entirely, but on a different angle/level. The reason most people say to go for in demand markets and hungry crowds is because it's easier/safer approach to make money.

Yes, innovation can make you rich, but have you any idea how many inventions get thrown out with the trash every single day, online and offline?

The truth is, most of us aren't Thomas Edisons or The Wright Brothers. Many just want a proven market that we can dip our little paws into and extract enough cash to make a (more than) good living from...HOWEVER...

The way in which I totally agree with you is that YOU CAN monetize pretty much anything online, BUT providing you have one core ingredient:

A large group of people who's demographic can be measured and identified. Then you have a platform for trade. You have space upon which companies might wish to advertise their products. You have eyeballs, and that's where money is...through advertising or selling the site, or leveraging the traffic into bigger and and better ventures...

...you also have the start of a portfolio which could make a KILLER CV or track record as you move into other ventures.

Cheers,

Originally Posted by Daniel Molano

People keep on making the statement that NOT everything can be monetized.

That there has to be a huge demand and a hungry market for something to be monetized effectively. This is a common trend and I see a lot of experienced marketers make this statement.

I tend to disagree and I'm here to dispel the myth.

My plan to dispel it was making a solid argument here in this thread, but I just stumbled upon a blog that will do that for me.

Living Proof: Weird Facts: Dumb But Profitable. Really Weird Facts, 10 Million Dollar Ideas That Shouldn't Have Worked.

So yeaah... I bet there was a hungry market for Antenna Balls and Dog Goggles... NOT!

If people tell you that your idea can't be monetized to great profit they are plain out WRONG! All those ideas in the blog above make millions and there was NO demand and NO hungry market. The demand was all created through innovation.

This makes me want to look back at world history. People laughing at Colombus for saying that the world was round, people laughing at the Wright brothers for saying that man could fly or people laughing at Edison for recording sound. Yeaah... I rest my case.

It's not only about a hungry market or high demand (although that does work obviously), it's also about how you approach the monetization of anything.

And if people want to disagree with me, tell that to the guys who are making millions out of the silly ideas shown in the blog above were there was ZERO demand and NO hungry market.

Anything can be monetized into millions. It's just a matter of HOW you plan to monetize it.

Think outside the box,

- Dan

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Daniel Molano

15 years ago

Originally Posted by Nick Brighton

I agree entirely, but on a different angle/level. The reason most people say to go for in demand markets and hungry crowds is because it's easier/safer approach to make money.

Yes, innovation can make you rich, but have you any idea how many inventions get thrown out with the trash every single day, online and offline?

I agree with you there Nick, high demand markets and hungry crowds are definitely the safe approach and of course it works.

But you will never know if an idea of yours will work unless you give it a shot.

I mean seriously, I bet the guys that said "I'm going to be rich by selling Antenna Balls" or "I'm striking it big with my Dog Goggles" or "My online poop business is going to go viral!" didn't have it easy for them, I bet all their friends and family laughed at them when they mentioned it.

Well, who's the last one to laugh? They are making millions.

"You miss 100% of the shots you don't take!" - Wayne Gretzky

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Ouroboros

15 years ago

Joe Karbo relates a story about door viewers, you know those things you look through to see who's on the other side?

He had two hundred of them stashed in a storeroom and the time had come to throw them out. He brainstormed the idea and came up with...

Super-Spy Let's You See Through Walls, Fences, and Locked Doors!

Got him all kind of interviews and press, plus he sold 140,000 DOOR VIEWERS!

It's all in how you push the buttons.

Steve

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Daniel Molano

15 years ago

Originally Posted by Ouroboros

Joe Karbo relates a story about door viewers, you know those things you look through to see who's on the other side?

He had two hundred of them stashed in a storeroom and the time had come to throw them out. He brainstormed the idea and came up with...

Super-Spy Let's You See Through Walls, Fences, and Locked Doors!

Got him all kind of interviews and press, plus he sold 140,000 DOOR VIEWERS!

It's all in how you push the buttons.

Steve

Perfect example Steve, I love it.

If that can be monetized, what can't?

You said it "It's all in how you push the buttons."

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datingloot.com

15 years ago

Often times it's about EXECUTION.

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DougBarger

15 years ago

Yes, even breathing has been monetized.

Think air purifiers. Lol.

Water sells for $1 a bottle in most gas stations.

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GrantFreeman

15 years ago

This is good motivation.

There was a story a few years back about a couple that sold tumbleweeds on the net. Ya. The kind that grow in the desert.

It worked because it's a product that filmakers and the like wanted, and it was a rare product that you can't find anywhere.

I think about the pet rock. That's got to be number one for the absolute dumbest idea that people pay money for. Entertainment & Social proof are the only two reasons I can think of that would make someone want a pet rock.

Edit: Just wanted to add this true story for those into Psychology:

Silent film/comedy star Charlie Chaplin once entered a Charlie Chaplin Look-a-Like contest. He came in 3rd place.

Sometimes you just never know what the hell people are thinking.

Grant

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Daniel Molano

15 years ago

Originally Posted by GrantFreeman

I think about the pet rock. That's got to be number one for the absolute dumbest idea that people pay money for. Entertainment & Social proof are the only two reasons I can think of that would make someone want a pet rock.

The pet rock! I can't believe I missed that one. LOL

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Killer Joe

15 years ago

Daniel,

What is intersting about this thread that nobody seems to grasp is that all the examples used are *exceptions* to the rule. That is to say they are the 1 in a million that actually panned out.

As someone who spent a good portion of my career in product design I can tell you that even some of the best ideas that I have seen absolutely failed in the market place. Many of these had multi-million dollar budgets behind them, backed by major players and still lost a ton of money. If the phrase "It seemed like a good idea at the time" has any meaning, it sure applies here.

If anyone here was to do some in-depth research on the actual percent of ideas that were successfully monitized verses the number of ideas that have been tried you would see that the fallacy of believing that anything can be monitized has ruined many peoples lives.

Sure, it's fun to say it, and there is no immediate harm in believing it, but just don't bet your bank account on it.

And for crying out load stop using exceptions to the rule as absolutes.

KJ

P.S.

Add smiley faces where necessary. This wasn't a rant, I just wanted to bring this thread back to reality.

Cheers

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Daniel Molano

15 years ago

That would be correct KJ, BUT (big BUT here) all those "exceptions" as you like to call them would've never have happened unless the people that came up with them hadn't risked it all and went for it.

And I'm pretty sure they had a lot of doubts in going through with these.

Of course, any succesful product be it digital or physical ventures into the market on a very small scale to first tap the waters and see if it will make it, after that, if the response is correct then go full force. (Brands or names with a big position and recognition in the market can overlook this to some extent).

I just think it's stupid to venture into a market with million dollar budgets behind if the waters haven't even been tapped yet.

- Dan

P.S: The point of this thread is to state that anything can be monetized, and those "exceptions" prove me right.

Originally Posted by Killer Joe

Daniel,

What is intersting about this thread that nobody seems to grasp is that all the examples used are *exceptions* to the rule. That is to say they are the 1 in a million that actually panned out.

As someone who spent a good portion of my career in product design I can tell you that even some of the best ideas that I have seen absolutely failed in the market place. Many of these had multi-million dollar budgets behind them, backed by major players and still lost a ton of money. If the phrase "It seemed like a good idea at the time" has any meaning, it sure applies here.

If anyone here was to do some in-depth research on the actual percent of ideas that were successfully monitized verses the number of ideas that have been tried you would see that the fallacy of believing that anything can be monitized has ruined many peoples lives.

Sure, it's fun to say it, and there is no immediate harm in believing it, but just don't bet your bank account on it.

And for crying out load stop using exceptions to the rule as absolutes.

KJ

P.S.

Add smiley faces where necessary. This wasn't a rant, I just wanted to bring this thread back to reality.

Cheers

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datingloot.com

15 years ago

"It's very easy to think of a good idea," Jason Wall says. "But I think success really comes down to execution and perseverance."

This confirms my thinking.

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steve m

15 years ago

also one red paper cilp also would of sounded pretty stupid to me but he got his house for it didnt he...

steve m

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lexilexi

15 years ago

Haha yes, the pet rock, I was going to mention that.

It's all about creative marketing.... firing people's imagination... and creating something that for whatever reason - whether it is ultra cool or ultra ridiculous - people will tell their friends about.

Doing something remarkable, as Seth Godin would say.

The other one that springs to mind was the headline "xxxx swears under oath that their new yyyy perfume does not contain illegal sexual stimulant."

Of course, the product went ballistic.

A great place to go for ideas of this kind is the "most viewed" section of Youtube. You can see right off the bat what captures people's imagination and goes viral.

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Glen Kirkham

15 years ago

Really enjoying this post :-)

Its amazing how these guys made millions from something so stupid as selling rocks or poo !

If thats the case,

What can't we market ?

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cherman 15 years ago

I read through a lot of this post and wasn't going to reply until I read the post about selling tumbleweeds. I just laughed, but it's also a little inspiring because I live in Arizona!

No, it really did inspire me.

People keep posting!

Clint
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obiswill

15 years ago

Of course anything can be monitized...I still laugh about the hula hoop, pet rock, and even the Chia pet is making a comeback. Any niche can be monetized. As an entrepreneur, your mind should always be focused on 'How can I monitize this situation?' 1. Understand the flow of money (in any industry 2. Understand and develop a market 3. Monitize it to your advantage.

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[Constructive Rant] ANYTHING Can Be Monetized!

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