April 7, 2009
Feedback on a business idea.please be brutal (but not rude)?
Today I bought the domain “paymyfans.com” & set up preliminary web details. As I am not open for business yet I think I am allowed to get feedback w/out violating any yahoo polices. You can view the preliminary concept at:
http://www.dollhousex.com/pmf
The forwarding hasn’t kicked in yet, nor metatags for searching yet.
The basic concept is to get unsigned bands to make available their albums (on a non exclusive basis) for purchase at $12. They get a cut of that and any advertising/affiliate revenue the site makes.
For ‘fans’ they buy the music & as a benefit they get the right to earn money from referrals. $5 for any direct referrals, $1 for once removed referrals, $1.50 for twice removed referrals and $2.50 for three times removed referrals, sort of like a MLM. Also if they refer just one other fan they get a free download of a second album. The fan gets a renewable income to purchase more music & possilby an income stream for life as they support more bands. Sound good?
Agree $12 a little steep however CDbaby sells many unsigned for this price. For less money, it forces the reward incentive to be a lot less and I think that would be worse and not better. Any thoughts on that, too?
Kansieo.com
Filed under Other - Advertising & Marketing by Administrator
Comments on Feedback on a business idea.please be brutal (but not rude)? »
The price of $12 for a CD by an unknown band is way, way high. Music distros more often sell them for $5 - $8.
I agree. Even a signed band is prob going to balk at that price.
You don’t have to sell your soul for this:
‘You don’t get rich fast you get rich slow’
There’s usually a reason they are unsigned. I think if I were in your position I would be re-evaluating my business plan.