The Social Millionaire: Can It Be Done?

Pat Hankinson, the man behind the site thesocialmillionaire.com, has an idea…a big idea. An idea so big, it makes some people question it.

So what is this idea?

Pat sells keywords on his site. These keywords are then linked to the buyer’s website. The catch? His site is really only promoted (as far as I can gather) on social networking sites.

The concept sounds pretty good, considering the popularity of social networks, such as MySpace, Entrecard, and Twitter. But the question still remains as to whether this is a good idea or not. Naturally, a project of this type is going to have both supporters and those who question. For example, John Chow.

Promoting The Social Millionaire on the various social networks seems like a solid idea, but I don’t think that it’ll be enough for Pat to rake in seven figures. I encourage him to prove me wrong though! — JohnChow.com 3/14

John also pointed out that with keywords selling for as little as $1.00 each, it might be slow-going at best.

On the other hand, word-of-mouth has its advantages. In just one day (after the post on Mr. Chow’s blog), Pat’s sales have gone from $213.61 to $1,005.08. That’s a pretty staggering amount of change for just one day.

My prediction, while not nearly as ‘valid’ as John Chow’s, is that Mr. Hankinson will make a nice fat paycheck when it is all said and done. Social networking or not, word of mouth might just push this idea right to the finish line.

Why didn’t I think of that?

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March 15, 2008 | Filed Under Blogging

Comments

2 Responses to “The Social Millionaire: Can It Be Done?”

Pat Hankinson on March 16th, 2008 9:42 am

Thanks for the post! Looks good. Best of luck to you and your blog.
Wakish on March 21st, 2008 10:26 am

You have spotted this right on!
” Social networking or not, word of mouth might just push this idea right to the finish line.”

That’s how things are done for the big guys.. pushing each other up by rambling and rambling about each other at the right to hit the maximum traffic.. They do a real good cooperation, but only among them the “big ones”..
so obviously if you see the picture..

- Wakish -