I love observing unusual behavior. One thing that I saw both in the UK and in the US is that gamblers like to rip up their losing tickets. There is a mindset shared among them where if, on the off chance they made mistake and discarded a winning ticket, they don’t want someone else to benefit from it. Of course, what you are saying is that you would rather the house kept the money instead, and after a certain period of time waiting for the claim just absorbs the funds back into profits. In other words, they would rather a corporation benefited rather than a fellow human being.
I was ‘chatting’ today on Twitter with Gary Leff, who pens View From the Wing. We had a disagreement about a post where I felt there were too many affiliate links, and he disagreed. I want to say that I think Gary seems like a stand up guy, and I think his blog is a fantastic resource. However, we do find ourselves constantly with the elephant in the room… Monetization.
I still haven’t really figured out how to properly monetize Saverocity, and I am not overly concerned at this stage. I think that if we keep on trying to bring out good content readership will grow, and eventually something will emerge to reward that. In the interim we too have tried the classic methods, such as Credit Card affiliate links, and we have made some money from that-thank you!
Recently, I personally decided to not embed links into text anymore as I think a Credit Card is serious thing, capable of harm. I want anyone that clicks on my affiliate links to do so by going through the Tab at the top of the page. I feel that the extra step makes it less likely to be a random click vs a conscious effort to apply for a card from me. Who knows whether that actually makes a difference at all though.
Some people have the attitude that no reader should use an affiliate link from a blog, because doing so encourages bad practices to occur. Such as broadcasting delicate things in exchange for readership, or selling tricks for clicks as I call it. Yet again someone has released something major this week, and the lemmings are out in force. For those of you interested, there is a great article by Million Mile Secrets on the Evolve card. Wonderful information, that may or may not be best broadcast. Again, I will link to it rather than duplicate it in order to reduce exposure while sharing it with my readers. I will state that I like Daraius, I think he seems like a really nice guy, and we just need to appreciate his approach to sharing stuff is different to others.
Back to the ripping of Lotto tickets, I feel that is what we are doing when we decide to not use affiliate links. They are there, and while they cause some bloggers to go to extremes, they actually support the good work of others. We run our card ads through the ‘banner program’ which is an advert on the side of the page and a tab on the menu. We offer cards from American Express, Citibank, US Bank, Barclay’s, Capital One but not Chase. Please note this is not a curated list, so there are often better offers available than we can offer.
When we ran #milemadness we lost Chase links. The affiliate manager I worked with was concerned we spoke too much of Manufactured Spending. I felt strongly that I wouldn’t let the threat of losing Chase links affect my content, and sent them on their way. Since then I have been approached by several readers who have asked me where Chase links are, as they want to support the site by signing up with them. Again, rather than say I don’t have them and end it there I try to direct them to someone who would benefit.
If you are looking to support a blog, and are looking for a Chase card, I suggest heading over to Travelisfree.com he has a tab on the menu called ‘best cards’ which is like mine plus it has Chase! Drew who writes that site is a really nice guy, who puts a lot of time and effort into his content and doesn’t overtly push the card side of things. I think a nice way to support good people in the community is through using links, rather than cutting them all off, it means your decision to use that card link endorses his decision to put out solid content not influenced by revenue.
I saw that interaction this morning – I enjoyed reading it. Its nice that you were able to at least raise awareness; perhaps it will result in him changing the frequency at which he pushes cards. I don’t think you’ll see the kind’ve behavior that you, Drew or Frequent Miler do though on the cards.
I think a nudge every now and then to share feedback is useful, but I also think that he is a good man, trying to figure out the balance between content and monetizing that we all are.
I was thinking about this a lot lately because it seems like when “pimping” is started by one blogger, it acts as a catalyst for the other bloggers to start it too, so they don’t loose out. Perhaps there are too many eskimos, not enough seals?
Do you not think that jealousy plays a part too? I really wonder how much money FM leaves on the table by not linking credit cards on the blog posts. There must be some sort of a metric that shows how much more applications as processed when you link a card versus not linking.
At the end of the day each blogger (and potential applicants) will have to decide who they support. Having stated that, I assume most old timers like me who played the game long enough will not be affected by the “pimping” and bloggers like MMS will gain more “newbies” than lose the “oldies”.
The money is huge, the difference between not linking in a post and linking from my perspective is seeing about an 80-90% drop in revenue. That just makes me think that many of those people were clicking through randomly and not really giving the application due thought.
Not the case for all certainly, but I think that there is a LOT of conversions that perhaps aren’t thinking enough about the impact.
You guys are saints! ;-(
I suspected the ratio was high but did not think it was THAT high. That kind of explains the increased “pimping”. IMHO, If I was a blogger, I would probably divide my posts to real content (strictly no pimping) and sometime – perhaps once a week – add a “I gotta feed the family” credit card post with a disclosure.
I bet some of the newbies do not realize that this is what keeps the lights on.
You know, I think that people should have a real job to feed the family… the blogging stuff can take over but it shouldn’t bring in that sort of money until the site is very popular (more than ours is now) and the money will come. Too many people are trying to enter this space as ‘easy money’ but in order to make it you have to sell out, which isn’t worth it for some money from a credit card company.
Oh, I forgot to add that I admire your decision to say no to Chase.
And thank you! I wouldn’t change anything, but if they do come back and let me keep my content I wouldn’t complain either 🙂
Here’s a story that came to mind when I saw the headline about tearing up lottery tickets:
http://www.nytimes.com/2009/12/08/sports/08otb.html
One man’s garbage is another man’s industry.
Yeah for sure- and people would rather destroy than let this guy earn from that… strange world we live in!
I think New York Off Track Betting went under in 2010, though I am not sure if it was due to a failed business concept, competition from expanded other legal betting avenues or other factors.
The story of Jesus, who made finding thrown away winning tickets a business, is to me a true core story of American ingenuity.
I’m not totally sure, there is a really seedy block in NYC between 34th and 35th and 8th that I think may have off track on it – or it may just have had that back in the day… but I agree it is great. On a similar note I have a lot of respect for the people who recycle (cans, bottles etc) for nickels.
Just started reading your blog, and I just have to say, your such a pimp! Keep up the good work.
In other thoughts, I’ve considered blogging but I’m mainly interested in manufacturing spend, and I doubt I would be able to earn any affiliates if my whole blog is about working the system.
*you’re* garrrrrrrrr!!!!!!! I saw it right after I hit submit!! I really need to work on elevating my discourse (or better yet, my grammar checking).
This is not a place for Grammar, as you will find out. Mine is the worst! Thanks for stopping by, and I know what you mean about that balance between wanting to blog and wanting to ‘play the game’ there is a bit of a conflict but I think there are ways to figure it out.
Respect!
I don’t know if you’ve met Gary before. I certainly haven’t so I’m in no position to speak on his character in any meaningful way. That said, I know what kind of impressions I get about a blogger when I see them interacting with their readers in the comments section. Take that post, for example. He’s always written his posts in a contrived, roundabout way so that he can fit in as many affiliate links as possible. Sometimes it feels like I’m reading an over-cited legal document. But that’s okay! He’s a competent adult, he’s entitled to carpetbombing his blog post with affiliate links. And if this monetization scheme is working well for him, I’m glad. Hell, I’m jealous. Good on you, Gary.
What bothers me is his self-deceptive attitude about it all. Sure, some of these links won’t give him referral credit but many still do. Why does he twist the narrative to make it sound like he’s a persecuted writer who merely wants to share his honest opinion with the world? We all know that’s not the case. If people are calling you a “used car salesman” or a “pimp,” there is an implication behind the name calling that you need to address. This way you invite others to elevate themselves and JOIN you in a higher level of discourse.
I had no idea there was a connection between your losing the Chase links and your planning #milemadness. I am sorry that happened.
BTW I think the grammar has been improving.
Question for you – I stumbled on these two links recently. It appears they lead to the same CC. Do you know anything about either bank? Is there a reason to prefer one over the other?
http://www.citizensbank.com/cards-and-rewards/credit-cards/cashback-platinum.aspx
http://www.charterone.com/cards-and-rewards/credit-cards/cashback-platinum.aspx
I am eager to get more cashback cards, esp. ones that will give me 5% at grocery stores. Can you suggest any? I have Discover, Chase Freedom, and Arrival and will apply for Fidelity. And I will figure out which Amex to go for. Too bad there isn’t a card with 5% or 5X at groceries stores 100% of the time!
I think they are the same card, haven’t checked the fine print, might be worth doing so as one may have longer 5x than the other… I personally like the Amex Blue – old version which is 5% after $6500 and the Wells Fargo offers 5% for 6 months
Good tip about checking the fine print. Will do if I add them to the next churn. Thanks.
I’ve basically switched all my reading content from Boarding Area to Saverocity with a couple of exceptions (like FM). This site is so refreshing. I hope you find a way to monetize it without compromising.
Keep up the good work!
Thanks Jessica! Appreciate the support, hope to keep things fun and interesting for you.
I have a friend that collects up those non-winning lotto tickets every year, she is convinced that if she ever hit it big she could use them to off-set her tax liability. It is a harmless hobby.
I think affiliate links can be an honest buck.
I’m also not opposed to the organizer and speakers at a DO at least having their expenses covered.