In April I mentioned that I wanted to create some sort of a social network. I left that description intentionally broad such as to not tip my hand too much. But the idea was a social ad network.
I had a good idea, but hate the idea of having employees and running a company. I want to be able to travel and explore the world, so the idea required a partner. ;) I brought my idea to Andy Hagans, and he was up for running the show. The idea is to create a blog advertising platform that allows advertisers to contact related bloggers to ask if they would review their products or services. Our network is called ReviewMe, and will be launching soon!
While I got into the web as an SEO, I tend to think of myself more as a blogger and viral marketer than an SEO. Viral marketing was the idea behind ReviewMe. It took us a while to get the model and infrastructure down. Since we started working on the projects other blog ad networks launched and one even got VC funding, but I believe our model is going to be somewhat unique and offer a high value when compared to other businesses in the same space.
I think writing a lot and reading a lot about marketing put me in a unique position. After acquiring Threadwatch, while still building this site and others, I started getting pitched more and more frequently. It made me think that there could be a formal marketplace which made it more efficient to ask bloggers for reviews, and also removed some of the potential risks associated with pitching to bloggers. The last thing you want is a popular blogger calling you a spammer, because that stuff tends to rank well.
Four elements which will work nice in our network to filter out bad products and bad offers are
- bloggers will disclose their relationship with the advertiser
- bloggers only review things that are interested in
- we encourage brutal honesty
- the comment sections on popular blogs will help keep advertisers and bloggers honest
Fraudsters and advertisers with junk offers will not want to risk paying people to write reviews that may expose their business flaws. But, if you have a good product honest feedback and conversation about your business should only help you. Getting great feedback early on in a product's life-cycle can save millions of dollars in the long haul.
I also think this is a more efficient way of selling cost per influence than some of the other networks. Buy a sitewide ad in the right rail of a popular blog. Compare how much traffic that sends to the amount of traffic sent to links in the content area of the blog, and you will see that the influence is in the content area of the site, not near it.
In addition, I think the real value of blogs is the unique feedback you can get from the blogger. Do they like your idea or hate it? And why? What advice can they offer you on how to improve your business?
We are not going to try to create the largest and most efficient ad network in the world. That's Google's job. Rather than trying to squeeze a few more cents out of an ad space, our idea is to extend the value of advertising by coupling it with reviews and conversation on popular sites. Brand building is much more about conversation and community involvement than it is about targeting keywords and displaying ads.
ReviewMe hasn't even launched yet, and I am more excited about it than any site I have ever worked on. You can read Andy's official announcement here, and read up on the latest developments on the ReviewMe blog.
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