Jul 17 2009
Have you been invited to join various specialized Facebook groups lately? For example, “Malaysia Badminton Network” for badminton lovers and “Malaysia Web Designers” for web professionals?
Yes, I have been joining some of these groups. Also learning about this new way of making money – building recommender community groups on Facebook.
Correct me if I’m wrong. But it works like this:
- Decide on your passion, such as table-tennis or reading books.
- Create a Facebook group around your passion, such as “Malaysia Table-Tennis Network”. Decide on what you can offer your group members.
- Invite your friends on and off Facebook to join your group. Aim for the number.
- Keep posting useful messages to group members to build your credibility, and make sure they get something beneficial out of joining your group!
- Once you have reached a critical mass, such as 1000 members in your group, start leveraging the number to make money!
For example, you can contact sport organizations and companies to sponsor events, contests and prizes for your table-tennis sport group. You can help these sponsors sell their products. In return, you may get a cut of the profit.
Another example I’ve witnessed a book love group are doing. They leverage on their high number of members to negotiate with MPH to gain discount for their members.
I don’t know exactly yet how to translate number of members into profits, since I’m not there yet. But since you are leading your many group members now, you have the influence over the group members and “recommendation power” to talk to businesses interested in your group as their target customers.
And once you have achieved success with one niche group, start another group (better be related, I supposed), and leverage on the first group to promote the second!
Just announce to the first group that you have created a second group, then many of them will join you since they already trust you!
Does this business model work? I don’t know. But according to one Internet guru, building recommender community groups is one of the most profitable ventures on the Internet.
And what do you think?