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Here's an account of a start-up that has made millions even before its formal launch, which is slated for September 2009.
"The only people in the world who can change things are those who can sell ideas," Lois Wyse, the popular American writer and columnist, once observed. With a belief in himself, and backed by this adage, Dushyant Bhatia decided to let go of his safe job in a multinational company and leap into the entrepreneurial ocean - a world of wide open horizons, but also uncharted waters. He set up BlogertizeWorld.com-an online portal that sells adspace to bloggers in the form of pixels, and in turn promises them avenues to monetise their blogs without any effort.
Pixel advertising is a form of display advertising on the Web, in which the cost of each advertisement is calculated on the basis of the number of pixels it occupies.
"The objective is to divert a chunk of the traffic coming onto Blogertize to these blog advertisers. This will help the latter to dig up a couple of loyal readers, which in turn would assist them in monetising their blogs," says Bhatia, CEO and founder, BlogertizeWorld.com.
To draw traffic, Blogertize offers an extensive suite of services such as an online marketplace, podcasting facilities, an online community (discussion board), the ad exchange network, promotional quizzing and a contest portal, Blogertize ROI (return on investment) analytics, exposure via a newsletter, and most importantly, profit sharing.
According to Bhatia, the value proposition that the portal will offer its bloggers, unlike other blogger communities, is that they will not be required to invest their precious time surfing the Internet to promote their blog. "A link to their blog (in the form of an image) will be placed on the website for a minimum of three years and without spending even a single minute on Blogertizeworld, they can potentially make thousands of dollars per year via their blogs by using our services smartly," adds Bhatia.
The concept of the website is similar to that of a mutual fund where the cost of running this website is distributed among a large pool of bloggers. A chunk of adspace proceeds are reinvested in various revenue generating avenues, which in turn, helps all stake holders to earn revenues, says Bhatia.
A collaborative model that works well for all
"Bloggers advertising with Blogertize also have an option to open an online store for free, during the first year of operations. No yearly fee or commission on final sales will be charged for the first year and so bloggers can sell their products via our website, free of cost," shares Bhatia.
The portal aims to offer an advertising network that enables blog and social media publishers at every level to maximise online advertising revenues. Bhatia explains how that would happen: "Bloggers/social media publishers can take control of their online inventory to increase their earnings, and advertisers can run better campaigns because they know where traffic and even each conversion is coming from." According to Bhatia, the revenue split is 70:30 between general bloggers and the Blogertizeworld team, and 80:20 between bloggers advertising with Blogertize and the portal.
Leveraging the social media
As far as the marketing budget is concerned, the team is expecting to sell off all the pixel adspace blocks by September 2009. "The adspace proceeds that we have by then would take care of the operating and marketing needs for at least 18 to 20 months," says Bhatia.
A few promising statistics!
Bhatia reveals that out of the total of 2,860 spots, the team has already received registrations from over 1,800 bloggers. "Adspace worth $50,000 has already been sold. We are planning to double the prices once we reach the 2,500 mark. The remaining 360 pixel blocks would be sold post September 2009 when the portal is formally launched," he adds.
Now, how many seven-month-old Web start-ups can boast of that kind of progress, Bhatia proudly asks. Not many, we concur!