Peter Andersen wrote:
Of course the main selling point was that everyone had paid and was therefore going to be more receptive to my advertising but I think time has proven that to be a load of nonsense. People joined early to make commission and then the exchange would stall as they moved onto the next. Can't blame them for 'exploiting' the exchange to make some quick cash and moving on but it did nothing to help keep the momentum going.
The 'paid' argument was made even more nonsensical by the last couple of pro exchanges I seem to remember that offered discount coupons allowing membership for something like $1. What was the point of that as it killed the main selling point (which was false to start with).
I have to disagree here... That all the members have paid to be there (even if it's just $1) shows
that they have a funded Paypal account and are willing to spend money online - that is extremely
powerful information and the foundation of list and product building in many other niches. Just
look at Gary Ambrose's Nicklemania => Butterfly Marketing promotion.
The selling point is good... the problem is/was in the lack of difference. The Pro TE members are
also members of other exchanges so you can just as easily reach them there (e.g. Dragon Surf has
more paying customers than most pro TEs have members). And because pro TEs tend to lose
steam after the launch you can't reach those buyers anyway.
If you could have a pro TE that would offer something substantially different than free TEs and
keep up the steam - then the advertise to paid members only would be a valid selling point.
To me the really funning thing has been looking at the pro TE owners - They have been sitting
on a gold mine. A list of hundreds (even thousands) of buyers but none of them have turned
it into the income any other "mainstream" marketer would.