With prizes like gift cards and mini laptops on the line, there’s been a long line of applicants to Market Leverage in order to participate in the contest. (Note: for this specific contest, you have to be Singapore-based in order to qualify).
The sticking point has been getting approved – to date, there’s only 1 eligible contestant in the contest.
One of the “risks” in making this contest only for Singapore-based affiliates is that there might be zero participants in the contest – not because there’s no interest, but because international affiliates in general have to take number of additional steps in order to get their affiliate applications approved, compared to their US counterparts (a point I highlighted during my appearance on Missy Ward’s TheSpew Episode “The SpewGirls Go Global” ).
Here are a couple of tips to be successfully approved as an affiliate (more…)
If you’re outside of the US, you’ll know that twice a year when the US goes on and off Daylight Savings Time, it can play havoc with appointments you’ve arranged, teleseminars, etc, when reality get shifted forward or backwards an hour.
For the record, the US is on DST as of March 9 and go off DST on Nov 2.
Singapore which is in a GMT+8 timezone is now 12 hours ahead of Eastern Standard Time (EST).
And you’ve been reminded, so showing up an hour late for a voice conference will not be so cool now that you’re aware…
This past Wednesday I joined a number of Facebook Application developers and sponsors on a “Marketing and Monetization of Facebook Applications: Hype or Goldmine?” at the second Singapore Facebook Developers Garage organized by the Entrepreneur 27 Singapore and Singapore PHP users group.
If you’ve spoken to me or exchanged emails, you’ll know that I’m a pragmatist at heart. Having see the rise of the dotcoms and dot-crashes soon after, I’m certainly not in this application if the end result of facebook monetization is mere “hype”.
Talking to Jason Bailey, whom I’m helping to launch his $uperRewards FB monetization system, I’ve seen the applications and case studies of successful FB applications which are making $100,000 – $200,000 a month.
These applications are probably in the top 5% of Facebook applications that turn a profit and a huge profit at that…and the reality of any capitalist society is that you must benchmark yourself against benchmark yourself against the leaders, rather than the other 90% of Facebook developers who are merely scrambling to find two nickels to rub together…
A business must be able to generate positive cashflow and must be able to sustain a comfortable lifestyle for the application creators. Anything less and you’re running a charity.
Let’s break this down for a moment…
An “average” application might generate $10,000 to $15,000 a month, which could be fairly reasonable…until you break that $15,000 by 30 days, or $500 a day.
$15,000 a month or $500 a day, with an assumption of 50,000 daily active users means you are generating 1 cent per daily user…that’s pretty pathetic…
Instead, if you want to go big with Facebook Applications, you need to define your goal and reverse engineer the process.
I think $100,000 per month is a decent benchmark. (as a starting point…)