To share with you the excitement of this day, we are offering iPod Touch, iPod Nano, and 8 Flash Drives as prizes in the contest that starts today, December 3, 2007. You can find the launch announcement and official contest rules at Buxr Blog here. Also, the press release about Buxr launch is available here.
It is not the contest and the prizes that I want to talk about though. I want to bring up for discussion our idea, the idea that brought Buxr to live. If I only had to use one sentence to explain it, it would be “Let people with web presence share hot deals and earn money”. Here is how it was born.
How Buxr.com was born
I started ProBargianHunter in September 2006 eager to share with you my thoughts about the deals & coupons business. One of my first posts was about how deal sites make money. The realization that the entire business is based on commission sales came rather quickly.
I don’t have many affiliate links on this blog yet during this holiday season my affiliate sales easily beat revenue from Google Adsense. I can imagine that popular forums like SlickDeals make millions during November-December shopping time.
The success came to FatWallet when they pioneered revenue sharing business model on a deal site. Everyone with an account at the FatWallet forum could use special links and get so called FatCash which is essentially cash back from the sale commissions. Bravo Tim and others from FatWallet team! One day I must visit Rockford and play some ping-pong with you. Isn’t it what you guys do all day long? ;-)
Why it will be a success
Now, tell me what was the most significant event in your life related to Internet? For me it was starting this blog. Guess what, over 120,000 of them are created every day, according to Technorati State of the Live Web report for April, 2007. I am sure some of these newly baked bloggers love sharing hot shopping deals like I do. And if freeing hot deals is not a compelling enough reason, Buxr.com offers half of the sale commission to the publisher.
Monetizing a blog about shopping deals and frugality is not a trivial task. I post occasional bargains on my blog but I gave up on linking each and every one via appropriate Affiliate network. With less popular blogs this is just too much effort that doesn’t pay off adequately. The blog software (WordPress in my case) is not designed to support it naturally, and the plug-ins I tried didn’t solve the problem either. The Buxr Widget offers bloggers to be a part of the show and not spend much of their precious time doing so.
I will write more about Buxr Widget in the coming weeks, I will also share with you some of our future plans with the project. Meanwhile, check out the widget I embedded in this blog post and tell me, why do you think Buxr.com is going to succeed or fail. Shoot it out!