We’re trying an Amazon affiliate experiment
OK everyone, here’s your chance to weigh in on an important issue: how Biznik can continue to grow and generate revenue in a way that works for everyone. We tried an advertising experiment more than a year ago that taught us an important lesson: advertising doesn’t work on social networks. At least not on this one (MySpace, which just laid off 400 people, is another luminous example).
We’ve been thinking about this, and have decided that on articles, many of you may be interested in further exploring the topics of articles that get your attention. So yesterday we deployed an experiment - we’ve added a list of books that are relevant to the topics covered in the articles. These link you to Amazon, and if you purchase the book, Biznik collects a 4-6 percent commission.
We don’t want to clutter up the interface unnecessarily, especially for something that simply doesn’t work. So we’ll be listening to your feedback, as well as watching closely to see whether members like you are actually following the links and completing purchases, which of course, is the only way it will be worthwhile to us to continue. Check out an article or two and let me know what you think. Intrusive? Helpful? Relevant?
Note: we’re conducting an A/B test (to determine which is most effective) of where to put the book links. On some articles, it’s located at the end of the article just above the comments, which appers like this:
On others, there is a sidebar on the right column, which looks like this:
July 6th, 2009 at 10:11 am
Hi Dan,
Nothing wrong with a pilot program! I rather like the idea of having links to books that people recommend. I think that a small percentage to Biznik is fair, being that you guys do all the work, maintain the site and make this all possible. And since not everyone is a supporting (meaning paid) member, this is one way to offset that cost. I’ll be interested in seeing how this goes.
July 6th, 2009 at 10:24 am
All of these books in the current list are books that I personally recommend. I’m thinking it would be much more interesting to have this list be continually updated with a list of relevant books that Biznik members recommend. Of course, that’s much more complicated to build…but might be worth it.
Members could create lists of their favorite business books, and rate and review them separately from Amazaon, so that we’d have our own “Biznik recommended” list. Thoughts? Might be a great conversation starter, too, and possibly feed into events - I’ve always wanted to see more book events and have been surprised that business book club events haven’t been more popular on Biznik.
July 6th, 2009 at 11:40 am
I love this idea! I’ve been contemplating starting a Biznik Group to cover topics on business book reading, recommendations and reviews. I’m curious as to what folks are reading and their response. And inspirations, too.
I just hadn’t quite sorted through the best presentation in the group format… and I’d like to have a co-moderator to split the group duties. Think we can add this into the pilot somehow? Maybe a book club option as a read and meet? That could be fun. Anyone interested? What a great way to drive sales, get us thinking, and another fun Biznik network event.
July 6th, 2009 at 5:14 pm
I think it’s a great idea. I love books, and in this age of information overload, it’s harder and harder to know what to spend time reading. I welcome the book recommendations and I’d be thrilled to be able to support Biznik with my purchases. The book club option is a neat idea too!
July 7th, 2009 at 10:57 am
Dan, I totally applaud the way you, Lara, et al. come up with fresh ideas to grow your business. Way to go! Lynn
July 8th, 2009 at 4:20 pm
Hi Dan,
I think this is a great idea!
When I noticed the widget on my article today, my first thought was, “cool - the books fit the topic. How much cooler would it be if I could have picked the books myself!?” And as you point out, that’s a whole different level of complexity. The only thing I can think of is to add an optional field to the article submission form that says “recommended books” and the author can choose to list some titles (maybe up to 5?), and you all could plug those into the widget for that article. Still labor intensive, but author-driven-and-Biznik-supporting. Aside from that, I’m all in favor of a “Biznik Books” recommendation page, where we can list, rate and review books we’re reading.
As for book groups, I’m experimenting with a book discussion over a bridge line, with Wayne Dyer’s “Excuses Begone!” on July 20. Since it’s not Biznik-exclusive, it’s not in the main events calendar. If my experiment is successful, I’m going to do it again as a Biznik-only event, since the telephone platform is great for our wide geographic reach. Stay tuned!
Thanks for all you and Lara do to make Biznik great!
July 13th, 2009 at 6:12 am
Hi Dan,
Sounds like a good idea to try. One thing to consider adding: make sure the article author’s books are highlighted in the list, maybe in a separate box above the other books. I have two listed on Amazon and other Biznik-ers probably do as well!
July 13th, 2009 at 9:26 pm
A fantastic addition, a great way to share good reading. I am glad to see it on Biznik. Thanks Dan and Lara!
July 15th, 2009 at 6:37 pm
This is a fantastic idea; way to be creative about revenue streams! I think you should promote this elsewhere on the site, as I hadn’t seen it until perusing your blog.
August 31st, 2009 at 3:01 pm
Love the idea, has it started to work?
August 31st, 2009 at 4:46 pm
Karen,
It’s a great idea - but the reality has been less great. During the month of August, for example, our total earnings were $9.19. So if you’re looking to get free lunch at McDonads one day a month, go for it. But if you’re looking to add significant revenue to your business, forget it.