How to Make Money with the Income Share Program and Why it is the Right Thing for Epinions as a Whole
Apr 04 '00 (Updated May 05 '00)
Being a very analytical person, and wanting to make money, I have devoted a lot of time today to reviewing my income share bonuses and trying to draw some conclusions on what will work under this new program.
I've also been humbled by the end of expert bonus eroyalties, which I honestly enjoyed very much. I've stepped back and taken stock of Epinions. Here's what I think, for what it's worth (which I hope is more than a lone cent!)
What are the Big Changes and why are they a Good Thing?
• Let's Level the Playing Field
The greatest thing about the end of Expert Bonus Eroyalty rates, and the institution of the same Eroyalties for all Epinionators regardless of status, is one of the best things to happen to the Site. Why should I say that? I am an expert after all, in Home & Garden as well as Finance. Do I miss my $.30 a hit? Damn straight I do, but you know what? It's the right thing to do for the Site and so I am behind it 100%.
It simply is not fair for some people to get paid more for what amounts to the same job just because they were fortunate enough to get the status of Expert. Period.
• The Demise of Cliques
Think of the temptation. You get $.30 a hit, no matter what you write or how helpful it is. You develop a great reading list of people you hit, who will come back and hit you, again, no matter what you write or how helpful it is. You trust, perhaps, with ulterior motives in mind.
Do you see the dollars flying around from computer to computer? For What? Who is benefiting? The consumer, or an elite few? Will this quid pro quo system lead to the betterment of the Site for the consumers who are seeking advice in order to make a decision? No! Will it lead to Epinions growth as a business? No!
If Epinions cannot be allowed to grow as a viable company, we might as well can this whole thing. With the Income Share Program, this is no longer a popularity contest among reviewers, but rather a usefulness contest among reviews.
• What is our Goal?
As far as I understand it, our goal at this Site is to provide consumers with information and unique experiences to enable them to make informed decisions. It makes perfect sense then to let the consumers decide the pay scale.
Just because someone is designated as an expert does not mean that they inherently write reviews that are more helpful to the average consumer. Expert and Newbie alike are held to the same standards, that which are set by our audience, the ultimate judge of our success. We get paid for what the public wants to read, not just because we feel like writing about it.
• Have some Whine with Your Cheese
Who loses? People who don't write what the consumers want. Is that fair? Absolutely! Let's be realistic here... Epinions is in business to make money. Yes, we have developed a community here. Yes, we like to read about our friends and what they think and feel. All that is well and good, but the Site does not owe us compensation for simply stating our opinions on things.
In this regard, the name "Epinions" somewhat of a misnomer. It's really not about opinions so much as it's about advice. If we don't write useful, consumer friendly reviews, the Site will not make money. Then we all lose. Then we all have nothing.
What is the Strategy to Reap the Most Benefit?
• Begin with the End in Mind
What reviews got you the biggest bonuses? What is your niche and your special talent? What experiences and knowledge do you have that most consumers frequenting this Site will find the most useful?
Before you begin to write a review, set your eyes on the prize and spend some time evaluating what to write. Check out the category and see what else is there first. If you don't have something new or germane to contribute, move on to a different topic. It's for your own good as well as the good of the Site.
• Partner with Epinions for Success
Remember, what makes money for Epinions now makes money for us. Consequently, what does not make money for Epinions will also not make money for us. So, it is to our advantage to analyze our own contribution to the bottom line. We are, in effect, a partner in this business. We need to use our best business judgement when evaluating our contribution in order to obtain the maximum payout.
• Ok, but How do I Know what is Really Making the Money?
Epinions has provided a list of the top ten income bonus earning reviews in each category. It may be wise to read these reviews and come to your own conclusions of what makes them stand out. Then incorporate what you have learned into your own reviewing strategy. According to Epinions: "These opinions aren't necessarily the most popular; they are the opinions used most often to make a decision."
To see the top ten in each category, go to your user page and click on the Eroyalty column of any of your reviews (it's all the way on the right). Once transported to the next page, look in the text box in the upper right hand corner. There you will find links to the top ten in the category of your review and also the top ten in all categories.
Or, here is an address to the top ten by category:
http://creditexpert.epinions.com/topreviews.html?reviewid=total
I'm sure Epinions has gone through some convoluted programming in order to roll income share down to a per epinion level. Take advantage of the information to target your audience!
• Get On Board and Enjoy the Ride
Hey, this is not my real job, and I have a life outside of Epinions. When I lose my enjoyment of the Site, I know it will be time for me to rethink my participation. I hope that day never comes. What we see depends mainly on what we look for. What are you looking for at Epinions? What do you choose to see?
Time out for some thank yous:
• For the Nonexperts:
Thank you for your continuous commitment, especially in the face of the greatly disproportionate amount of compensation you have put up with until the Income Share kicked in. Just living for a few days in your shoes has humbled me to the predicament you found yourselves in with the end of Bonus Eroyalties for nonexperts. It is to your extreme credit that you have been able to maintain your focus and commitment to this Site by writing high quality thoughtful reviews. It's not easy to spend several hours crafting a review only to see your pennies add up so slowly. I thank you for hanging on and setting a great example.
• For the Experts
We have been given the privilege of expert status at the Site. With that comes responsibility. Our commitment and fortitude is being tested by the changes. We need to look at the greater good of the Site and gracefully accept the sacrifice of some of the financial advantages to which we have become accustomed. We need to lead by example, knowing that the new Income Share Program is better for the majority of Epinionators and even the Site itself.
• For the Staff of Epinions
Do not be disheartened by negativity. There are so many here among us who are truly grateful for your efforts in the building and maintenance of this Site. You have established a place that is much more than merely the sum of its reviews. Be proud and stay the course.
• For All of Us TOGETHER
This site will not thrive without us, all of us. We are, each one individually and as a team, an integral part of its success. Please look at the big picture. The future of Epinions, and therefore all Epinionators, rests on US.
That all being said...
Why on Earth am I writing in a category already chock full of other Epinions, for which I will be paid $.01 a hit and probably not qualify for an Income Share Bonus? Because I wanted to! But I went into it with my eyes wide open, and I made an informed decision. And you know what? I will not regret it for a moment!
Epinions is still one of the best Sites on the Internet, both for the Writers and the Readers. We are fortunate to be a part of its beginnings.
I look forward to reading your Epinions. :)
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Epinions.com ID:
netKat
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 - Top 200 |
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Member: Kat
Location: Maryland
Reviews written: 166
Trusted by: 887 members
About Me:
Analytically inclined mom, bank officer, freelance writer, and internet addict.
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