IM ideas that DIDN'T work for me :\
I'm in a reflective mood today, so I thought I would share with you a list of internet marketing ideas that just didn't work for me. I hope in some way, that knowing what didn't work for me might help you create something really successful.
EDIT: Due to popular demand, I've decided to include the reasons WHY I think these IM ideas failed. I'll also include a few of my projects that were actually successful!
The following projects were spread over a 5 year period.
1. Forum promotion website FAILED
This project started off well, I posted a thread in the SMF forum offering forum owners the chance to promote their forum on my website, in the hope of attracting more traffic and new members. Within 3 weeks I had over 100 forum owners submit a listing! Before I could monetize the website the listing started to drop as forum owners became disappointed with the low amount of traffic being sent to their forum. I didn't have any more ideas to make the concept work, so I dropped the project after a few months.
2. General music forum FAILED
I had high hopes for this project. I purchased soundbuzz.co.uk just after the popular online music store soundbuzz.com went bust. This immediately gave me lots of traffic to the parked domain, so I decided a music forum would be relevant. I spent close to $1,000 on vBulletin, SEO plugins, custom template design and all sorts of other extras. After 4 months I had only 2 active members. I decided that starting a forum was impossible without a team of friends to populate it with content.
3. Selling keyword domain names FAILED
I had just started University and armed with a $10k student loan I splashed out on a ton of keyword domain names that I thought could be easily flipped on SEDO. I was wrong! I will admit I gave up on this project too quickly, but I've learned that domain flipping doesn't interest me in the slightest.
4. Website template editing FAILED
I spent ages creating a templatetuning.com rip-off that offered the same services at a fraction of the price. I just couldn't attract any customers!
5. Website flipping blog FAILED
This project didn't really fail, it just evolved. I decided to take all of my blog posts and create an e-book. The blog was dropped and the e-book wen't into development.
6. Humor image website FAILED
I still love the domain name... 'FATBAP.com' haha! Although, I found it difficult to find content for this and eventually gave up (it just wasn't fun!). If you have the time to find hundreds of funny pictures and rank them on Google images then this could work for you.
7. Student web hosting FAILED
This could have been a nice little earner, but my first (and only) customer created a clone of a driving instructors website and ended up being taken to court. As I was the host and the domain name was registered through me I was caught up in the whole thing. It's put me off hosting for life!
8. Website template re-seller FAILED
I became a templatemonster.com re-seller (which took AGES to set up and be approved). I found that many customers don't trust template re-sellers as they are fearful of buying an illegal copy, or not having any after sales support. I think it would take A LOT of time and money to create a reputable brand.
9. Domain parking portfolio FAILED
I created a domain sales page for each of keyword domains. I had a few offers, but I am rubbish at negotiating and found it very difficult to actually make any money.
10. Forum owners wiki FAILED
This was another half-failure. I created a wiki style website full of tips and tricks for forum owners. I ended up losing interest and sold the website on digitalpoint. I made $20 profit wooo!
11. Facebook like website FAILED
This could have been/should have been a big success, but a technical glitch screwed it all up. I purchased 'insultbox.com' and set up a facebook like style website where users could create and share funny insults. I had over 1k Facebook likes, a PR2 homepage and ranked on the first page of Google for "best insults" within 2 months, but the script I was using broke and I couldn't afford to fix it! The site quickly died after that, but I still managed to sell it for $90.
12. Paid to click website FAILED
I spent a lot of money on paid traffic for this website and it worked pretty well. Yet again, it failed because of a poor quality script causing issues and eventually rendering the website useless. It was after this incident that I decided "I can make better scripts that actually work!".
13. Video game community w/ server FAILED
This was my first (and only) successful forum with over 100 active members it had the potential to grow into something big. I even had a go at machinima as a way of promoting the forum/server!
The problem: servers are expensive, and the work I put in wasn't worth the small return.
14. Viral video review website FAILED
I thought this was a novel idea back in 2009, create a website that reviews all of the trending viral videos and gets all the background info on them to add more value. I'm just not cool enough to keep up with it.
All of the above ended up costing me significantly more time and money than they ever made, but that doesn't mean they might not work for you!
Okay now for some IM ideas that did work for me!
1. Selling website scripts SUCCESS
I purchased A LOT of website scripts. After being left disappointed time and time again I decided that I could do a better job. The concept is simple - think of a new website script (or clone) and pay a freelancer to make it for you. I started selling my own scripts 2 years ago, my e-junkie transaction log says that I have racked up over $20k in profits in that time. Not bad!
2. Creating and selling e-books SUCCESS
If I'm honest, I've only made one e-book so far. It was launched as an WSO and made over $200 in a week. I then sold the sales website for $350. I was pleased with this for only 2 weeks work.
3. MP3 Search Engine SUCCESS
This project was complete fluke. I used my abandoned domain name 'soundbuzz.co.uk' as an mp3 search engine I then left it alone. Within 3 months I had 12k organic visitors per day. To make it legal, songs could only be previewed using Amazon API, along with a button to purchase the song (earning me commission).
PATIENCE - Is over-rated. An experienced IM can tell within a week if any idea has potential. Those who want to wait it out in the hopes of getting lucky are just wasting time in my humble opinion.
Persistence is vital, but so is knowing when to stop and move on to your next project. Otherwise, you could spend all of your time and money on something that will never work. Once you have the correct balance, you will succeed.
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