Project Payday Update

Note: As of Sept 2007 the Project Payday eBook is now available for free. You can get it by simply trying out the system and filling out an offer on the Project Payday site and make 1 dollar in the process. I have cautioned against paying for this material in this post and several others but now that you can get the material without paying for it I would recommend you sign up and read it. - Grizzly

The name of this system is more accurately described as "Making Money with Incentivized Freebie Websites" or just "Freebie Websites".

The people behind "Project Payday" were smart enough to zero in on one of the few "real" opportunities to make money on the net. I say "real" as in the sense that this system is really just a job and you will get paid if you do the work. At first I promoted the eBook but after sober second thoughts, I came to believe that they were profiting ($35.00 per person) for selling little more than a few instructions and a few links. Don't get me wrong - the info and links are quite true and valid - it's just that you can get all the info for free simply by joining one of the forums involved. (I have explained the system in previous posts on this Blog - Check the Project Payday Labels below this post)

Over the past few months this system has become widely talked about and the number of people now making money from IFW's has skyrocketed. With most online systems it is the case that once too many people start doing the same thing - competition increases and effectiveness is severely hampered. Not so with Incentivized Freebie Websites - in fact the opposite is true. The more people that join the better it is for everyone else. Why? Simple. Offers can only be filled out once - once everybody has filled out all the offers the system comes to a standstill until new people are recruited.

Freebie sites are popping up faster than just about anything else on the net at the moment and that is a good thing. A word of caution though - stick to the main forums to avoid the scammers. The forums track all the sites and quickly list all the bad players.

A note to all non - Americans. (OK - that would be the other 5.7 billion of us.)

This system only works for people with an American IP address and an American Postal Address. Sadly the advertisers who are paying for this system are only interested in selling to the American market.

The one exception to this is that Canadians can also join in but you will find far fewer offers in which you qualify. ( Note - there are now a lot more Canadian offers available as of Jan 08)

The IFW Forums

The following forums are all you need to get started

FiPG Forums

A very popular message board for everything related to IFWs. The trading sub-forum is very active and you can quickly and efficiently network with others who are looking to buy, sell or trade "greens". You'll frequent this forum often, but be sure to familiarize yourself with the rest of the site as time allows.

Anything4Free

Another very popular community message board, covering everything related to IFWs. Their trading forums are awesome and make it a snap to buy, sell or trade "greens". The trading post has been broken up into three separate sub-forums.

Referral Swapper

A network of people who are looking to buy, sell or trade "greens". Allows you to quickly and easily find possible matches and then initiate a trade, and then monitor all aspects of your trades, whether it is a proposed trade, current trade or past trade.

For Complete Beginners (There's something for you experienced folks below)

As expected since the popularity of "Project Payday" has taken off, there are now several others trying to cash in on IFW's by selling more eBooks that essentially explain the same thing as I have outlined for free in my previous posts on this subject. Do not spend your money on these! Read my posts and join the forums - the experienced people will help you out. They need your referrals - they will be nice to you and best of all they will pay you.

I want to mention one of these info sellers and suggest you check them out. At the moment you can get the info for free but they are claiming that they will be charging $17 for it soon. I doubt that they will but if they do - don't buy. I mention them only because they have set up an easy system for beginners to start with and they will pay you for your referrals. Right now - today.

The site is instantpaypalcash.com

I have not used hypertext for the link for a couple of reasons. I am not affiliated with this site and I can not vouch for their history when it comes to paying for completed offers.

If you give them a name and email they will let you into the site which does a good job of explaining IFW's and lists all the links you will need. They also offer to get you started by having you complete offers for them - $115 if you complete 10 offers that they have listed. I have not done their offers as I have already completed them elsewhere so I can not verify their claims to a speedy payment. You might want to ask about them on the forums and see what the history is.

If anyone has trouble with this site please let me know.

Experienced IFW Members

I am starting to get a few emails from people who want to take this system to the next step. Actually 2 steps really. Once you have mastered getting paid for filling out offers most of you have begun paying others in order to get the bigger prizes and cash. This is the logical next step.

Once you have exhausted this step where do you go.

If you haven't figured out the whole "Big Picture" yet then let me fill you in.

What are incentivized freebie sites actually doing? I mean besides paying people for completing offers. What is really going on behind the scenes is that large corporations are buying leads - something that they have been doing for decades. The difference now is that they are finding that the internet is a far cheaper means to getting leads than standard print and television methods.

In effect these organizations pay people to send them new leads. The people sending them the leads have created a whole network of Freebie sites that pay end users to become the leads. The end users make a little money and this is great until the offers run out. When this happens the end user starts paying others in order to claim the bigger payouts offered by the freebie sites. This is great as well and can continue as long as they don't run out of bigger prizes or new recruits.

So who makes the most money?

The freebie site owners of course. What you don't know is how much they get directly from the corporations. You have probably done the math and realize that it costs them a pretty penny to offer the kinds of payouts they have. If they can payout $300 for 10 leads then you know that the corporation is paying them considerably more.

Now before you run off to set up your own freebie site hear me out. I am not suggesting you do this at all but go ahead if you know how. I began to look at doing this myself but as I was learning how to do it I began to see the real "Big Picture".

What I found out is that these Incentivized Freebie Sites are really just small players in a small pond. Essentially these sites - hundreds of them - are all collecting leads using the same offers for the same handful of companies - and American companies at that. This limits your earning potential to just these products and companies and limits your lead collections to just Americans.

So what?

This is what. Every company on the face of the Earth wants leads. And not just American leads.

To make a long story short I found out that there is a far bigger market than IFW's, a market known as Un-Incentivized Lead generation. This market gathers leads and sells them to every profitable niche business out there.

This is a quick overview of what I am taking about.

Let's use a company that sells Paris Bus Tours as an example. I am making this up but I have researched other tour companies and will use the stats I have for them.

The Paris Tour company is competing with a dozen other operators. They all have websites and they all have adsense ads displayed when people search for "Paris Tours". The average cost per click on these ads is $6. They get little free traffic because their websites are not optimized for Google - they run tour buses and know little about SEO.

The highest ranked page in the Google search is for a website that is optimized for the Keyword "Paris Bus Tours" and this site doesn't sell bus tours. This site gets most of the clicks though.

The site is a squeeze page that gives out a ton of info on Paris bus tours but doesn't sell anything. Google just loves sites like this.

The site then asks the reader if they want more info on available Bus Tours of Paris - Name and Email - we'll send you what you are looking for. Every person that gives their name and info becomes a lead. The website then simply contacts one or all of the real Paris Bus Tour Companies and sells them the lead. Do they buy it? Wouldn't you want the name of someone that has shown an interest in taking a bus tour of Paris and you just happen to provide this tour?

In a nutshell this is lead generation. It can be done for just about any business that exists. Every business from Real Estate firms to Scrapbooking Supply shops need leads and will pay for them.

How much you ask?

$5 to $5000 per lead depending on the business. The higher the product sale the more the lead will make.

I admit that I haven't been at this for very long but I have set up some squeeze pages in some very refined niches much like the tour bus example. One site has made the 1st page of Google and brings in 2 or 3 leads a day for free. I am using adwords to collect leads for a second site as it has yet to rank well. The second site is averaging 8 leads a day and costs me about $25 daily in pay per click costs.

This is the important part - I found a company to buy the leads from my first site and agreed to a price of $12 per lead. Yahoo I would get rich soon! Not exactly - by the end of the first week the company canceled my order saying that they hadn't converted enough of my leads - sorry your leads suck. Back to square one. In the end I realized that the company was not the most suitable business for the type of lead I was recruiting. I approached several other businesses with my leads and after several failed campaigns (still no conversions) I finally found 2 businesses that could convert my leads. They are still buying from me and I have even increased my asking price to $15 per lead. At the moment my site is making me between $60 - $90 per day from the 2 or 3 leads generated.

The second site is still pretty new and I have only found 1 buyer so far. I'm only getting $5 per lead but it's enough to cover the PPC and leave a few dollars in the kitty.

This type of online business is not for beginners. I only mention it as an option for those of you that have asked me about expanding your IFW empire. If you know seo and can set up squeeze pages then this might be something for you to look at. There is more to this than what I have covered and I must warn you that you could spend a few bucks tracking down all the info needed to pull this off successfully. I bought several very pricey books and paid for a mentor to get started. If you are interested then stick to Mark Vurnum's "Lead Generation Videos" as they are the best single source of info I have found so far. It's not available from the usual sources but you can get it through this link - "Lead Generation Videos" He provides the videos for free but as usuall you will have to give a Name and Email.

One last note;

I get 2 or 3 emails a week from people promoting their new Freebie Site or rather wanting me to promote it for them as I get a lot of Project Payday traffic. Please stop sending these to me - if the forums don't have you verified then I am not going to mention you to anyone. No offense but I have no way of knowing how legit you are and don't have the time to find out.

That's it for now,