Your AdgateWorld Information Resource by Faith Sloan
Surf Industry Thoughts - 31August2009
Surf Industry Failures
Hello,
It was another sad day for the fledgling social advertising industry late last week upon hearing the news of a competitor closing their rebate program. Over the last 18 months government intervention, scam operators and unreasonable member expectations have led to this point. The question must be asked. Does this signal the death of this business model before it even had a chance to blossom?
Let’s review the problems and then allow each reader to come to their own conclusion. The original developers of AdGate believed in the advertising rebate concept that was popularized by a predecessor in the United States. They actually had a far grander vision that encompassed other opportunities and entertainment components. The problem even before the full launch of the site was that most members still had no understanding of the rebate program or the math that supported it. Other copycat sites emerged with unsustainable bonuses and promises. These sites gave 200% Ad Pack incentives without any concern for future ‘inflation’.
Team AdGate tried to educate and explain the pitfalls that this exercise in virtual money creation would cause. No one listened. Promoters and members alike continued to push for matching bonuses and threatened to ‘run’ with the site that offered them the most. Of course, this competitor’s rebates crashed within a short period of time and the mob mentality wondered how this could happen? Meanwhile AdGateWorld continued to work on improving the ease of payment processing by discontinuing the exchanger system. During this time a new and improved rebate logic surfaced and our accounting and programming staff reviewed its merits for sustainability. It was decided that it was a vast improvement on the ‘old ASD style’ rebate math. A huge undertaking in converting to the 200% expiration took place at the same time as the introduction of a custom new front end. Since the debut of the website in January rebates were based on REAL revenue numbers. Members shared in profits that matched the whims of the community. These whims were proven to be easily swayed once again by the originator of the new rebate logic. Despite warnings, this program was hailed as the ‘best’ of the bunch and everyone flocked to this competitor. A competitor that still did banking in the same country that froze millions of dollars just a year ago. A competitor that miraculously was able to pay out an outrageous 14% a week like clockwork. Did anyone take the time to ponder how this percentage could be maintained? Could a program such as this have ‘record days’ every single week? Now their ‘record weeks’ have abruptly come to a halt as this surf program has rode off into the sunset.
Where does that leave AdGateWorld and the social advertising arena? The question can only be answered by those that continue to search for the holy grail. AdGateworld is still here despite the vanishing act of all the high yield surf programs. It is true that no rebates have been given for several weeks.
Our programming staff is attempting to find a solution that will reward ACTIVE weekly participants with a higher percentage of the revenue generated. If this is accomplished members that understand the mechanics of a vibrant social community will reap the lion share of the benefits. Without this change it will prove impossible to overcome the three million Ad Packs and those members that would still be looking for free money. New marketing can only be successful if those ACTIVE members are not ‘burdened’ by those that still do not get it.
We feel terrible for those that lost money and are now distraught (again) over the collapse of this recent surf program. In light of this development AdGate will be offering a new surf ratio that provides three ad credits for each site surfed. We hope to have an answer regarding the tiered rebate participation model very soon. Once this is coded we hope to re-launch the weekly rebate program. Can we offer a guarantee of 14% rebates and record revenue days? NO. This pipe dream hallucination has never been part of the AdGate story. Maybe we could not provide the ‘Kool-Aid’ that this crowd was looking for. After the failures in this industry we think and hope that people want a REAL advertising rebate program based in reality. I guess we will find out by the response to our re-launch.
Thanks,
AdGAteWorld
====
God Bless
Faith Sloan
Administrator, TEAM JOINT VENTURE GROUP
Remember to sign up for PeopleString
Tazoodle launches in October! Tazoodle
Hello,
It was another sad day for the fledgling social advertising industry late last week upon hearing the news of a competitor closing their rebate program. Over the last 18 months government intervention, scam operators and unreasonable member expectations have led to this point. The question must be asked. Does this signal the death of this business model before it even had a chance to blossom?
Let’s review the problems and then allow each reader to come to their own conclusion. The original developers of AdGate believed in the advertising rebate concept that was popularized by a predecessor in the United States. They actually had a far grander vision that encompassed other opportunities and entertainment components. The problem even before the full launch of the site was that most members still had no understanding of the rebate program or the math that supported it. Other copycat sites emerged with unsustainable bonuses and promises. These sites gave 200% Ad Pack incentives without any concern for future ‘inflation’.
Team AdGate tried to educate and explain the pitfalls that this exercise in virtual money creation would cause. No one listened. Promoters and members alike continued to push for matching bonuses and threatened to ‘run’ with the site that offered them the most. Of course, this competitor’s rebates crashed within a short period of time and the mob mentality wondered how this could happen? Meanwhile AdGateWorld continued to work on improving the ease of payment processing by discontinuing the exchanger system. During this time a new and improved rebate logic surfaced and our accounting and programming staff reviewed its merits for sustainability. It was decided that it was a vast improvement on the ‘old ASD style’ rebate math. A huge undertaking in converting to the 200% expiration took place at the same time as the introduction of a custom new front end. Since the debut of the website in January rebates were based on REAL revenue numbers. Members shared in profits that matched the whims of the community. These whims were proven to be easily swayed once again by the originator of the new rebate logic. Despite warnings, this program was hailed as the ‘best’ of the bunch and everyone flocked to this competitor. A competitor that still did banking in the same country that froze millions of dollars just a year ago. A competitor that miraculously was able to pay out an outrageous 14% a week like clockwork. Did anyone take the time to ponder how this percentage could be maintained? Could a program such as this have ‘record days’ every single week? Now their ‘record weeks’ have abruptly come to a halt as this surf program has rode off into the sunset.
Where does that leave AdGateWorld and the social advertising arena? The question can only be answered by those that continue to search for the holy grail. AdGateworld is still here despite the vanishing act of all the high yield surf programs. It is true that no rebates have been given for several weeks.
Our programming staff is attempting to find a solution that will reward ACTIVE weekly participants with a higher percentage of the revenue generated. If this is accomplished members that understand the mechanics of a vibrant social community will reap the lion share of the benefits. Without this change it will prove impossible to overcome the three million Ad Packs and those members that would still be looking for free money. New marketing can only be successful if those ACTIVE members are not ‘burdened’ by those that still do not get it.
We feel terrible for those that lost money and are now distraught (again) over the collapse of this recent surf program. In light of this development AdGate will be offering a new surf ratio that provides three ad credits for each site surfed. We hope to have an answer regarding the tiered rebate participation model very soon. Once this is coded we hope to re-launch the weekly rebate program. Can we offer a guarantee of 14% rebates and record revenue days? NO. This pipe dream hallucination has never been part of the AdGate story. Maybe we could not provide the ‘Kool-Aid’ that this crowd was looking for. After the failures in this industry we think and hope that people want a REAL advertising rebate program based in reality. I guess we will find out by the response to our re-launch.
Thanks,
AdGAteWorld
====
God Bless
Faith Sloan
Administrator, TEAM JOINT VENTURE GROUP
Remember to sign up for PeopleString
Tazoodle launches in October! Tazoodle
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