Million Dollar Homepage with a twist... giving it all away...

[The Equivocate]

I'm not trying to advertise but I'm just wondering what you all think of the idea. Basically its similar to the milliondollarhomepage.com except if I reach a million, it will be randomly given away to one of the advertisers.. kind of like a free gift to the advertisers :hehe:

The link is in my signature if you want to check it out...

 

[ammo]

Bad idea, dont think youll reach it, its been done. Sounds good in teory, but it wont happen.

 

[Echelon17]

What's in it for you if you give the money away?

 

[The Equivocate]

What's in it for you if you give the money away?

Well I'm going to be running some ads on the site, mostly Google. I also plan on giving advertisers spots as Featured Site of the Day for a little extra cash. Also the $52 after PayPal fees comes down to about 50.50 I think, and I bet that .50 on every transaction will go towards hosting because that image is huge. But the other advertising will help pay for bandwidth and whatever is extra, I keep. I'm not out to make a lot of money, just try a new experiment.

 

[spaggle]

I don't think it will succeed only because its been done too many times. (The Million Dollar Homepage spin-off)

 

[etraffic]

It is hard to say if it will work or not...

 

[The Equivocate]

I don't think it will succeed only because its been done too many times. (The Million Dollar Homepage spin-off)

Yeah, but look at what everyone's doing... all they're doing is giving you different things to buy spaces on. At least this one, you have a shot at winning a million bucks and advertise your site at the same time.

 

[spaggle]

Well, to put it to you straight; it's hard to trust people on that internet. How would your visitors know that the advertiser you give you million to is legit?

 

[Echelon17]

Yeah, but look at what everyone's doing... all they're doing is giving you different things to buy spaces on. At least this one, you have a shot at winning a million bucks and advertise your site at the same time.

Hate to try and sound like i'm putting a downer on this, but I'd be very careful with the concept actually.

It's possible your idea may be considered gambling, a bit like the lottery. If this is the case then you *may* need a license for it. Yes, granted, you're offering advertising once payment is received, but your fundamental incentive behind that is the chance of winning $1million.

Just a thought.

 

[Canopie]

What if you end up spending most of the money you generate from those sales? Are you really going to be able to resist spending any of the $1,000,000.

Unless you have total self-control, I think it's a bad idea.

I know I wouldn't be able to resist spending that money, at least some of it. :imho:

 

[The Equivocate]

Hate to try and sound like i'm putting a downer on this, but I'd be very careful with the concept actually.

It's possible your idea may be considered gambling, a bit like the lottery. If this is the case then you *may* need a license for it. Yes, granted, you're offering advertising once payment is received, but your fundamental incentive behind that is the chance of winning $1million.

Just a thought.

Yeah, that's why I was trying to be very careful with my wording of everything on the site...

 

[Echelon17]

Yeah, that's why I was trying to be very careful with my wording of everything on the site...

Just had another thought, I'm pretty certain that you won't be able to actually do what you want to achieve. I'm not sure on US competition laws, but i'm pretty certain in the UK at least that in order to offer $1million to one of your advertisers you actually have to have the money to do so in the first place, as a legal guarantee. Otherwise it becomes similar to a pyramid scheme which nobody likes.

Even though you're stating that you will only give the $1m away when all your slots are full, it makes no difference. What if you end up making $999,000 and fall short by a grand? You keep all the money?
Surely that's a con?

I would be VERY careful with this concept in general, you have little/no terms and conditions stating the specifics of this 'competition' and I hate to be the bearer of bad news but I'm pretty sure what you're doing may be illegal.

 

[AGS]

Why not just give out random prizes every month or so (say $100 a month)

Might be a better idea than the original idea.

 

[The Equivocate]

Why not just give out random prizes every month or so (say $100 a month)

Might be a better idea than the original idea.

Thats also what I was thinking - maybe when 100 slots get filled I'd give away the proceeds of that, and so forth. So, it would total up to a million, but not a million in one straight shot. I think more people would be willing to buy spaces that way, knowing they have a better shot at winning.

 

[FluxAds.com]

if you go through with this, make sure it's worth your time and money and effort. If you are expecting to make thousands from this, you may be reaching.

perhaps if you create a niche site and feature it permanently on the takemymillion.com, and hope to get some high volume traffic to that other site which you own, that perhaps you promote stuff on, or provide a service or info that will keep the traffic coming back, then it could be worth it. I'd say right now, structured as is, you are mostly wasting your time. You have a decent concept that you should brainstorm some additional ideas other then selling some featured ad spots along with the pixels. Best of luck.

 

[Echelon17]

Hence illegal and you must have the money up front before offering something like this, to prove that you have the ability to give it away and are willing to.

See competition laws.

 

[ben51959]

If this site takes off I will give you a million!

It's just played out...

 

[jeter4982]

I agree with the idea that it would be a better idea to give away the money in $1000 increments to keep the odds of an advertiser winning as high as possible. Best of luck!

Tom

 

[stscac]

Its definitely an interesting concept. I'm not sure if its going to go through but I do beleve that it has the potential with the right marketing.

-Steve

 

[Epic]

Interesting idea, but I think most people realize that its not likely that you'll make it to 1 million, and therefore wouldn't throw their money away.