I thought it would be a good idea to start with the basics and answer the question: What Is Project Payday? So, here goes...
What's an IFW Anyway?
Project Payday is an online money making scheme that involves Incintivized Freebie Websites (a/k/a IFWs). IFW's (you know, "Sign up here and get a free plasma TV!") are a specific kind of Internet marketing websites. They get you to sign-up with your name and email and then "get just four more people to do the same thing" and you get your free TV...or something like that. These sites are legit and pay out on what they promise and you can work them without Project Payday if you want.
Enter Project Payday
Project Payday organizes these widely dispersed sites and makes them easy for you, and all the other members, to find. This save a TON of time and as we all know...time is money. By having them all in one place it is much easier to step through them every day to see what each one has to offer. Signup with Project Payday is free although they will try very hard to get you to signup with one of their "partner programs" and they do cost. More on that in a bit.
So how does Project Payday make money if their website and service is free? Well, only the basic stuff is free, they charge a fee for the premium stuff they call the Bonus Pack. They also make money off those "partner programs" you sign up for. See, they get paid for every referral they make to one of these "partner programs." Now it may only be a few cents but...
According to Alexa, ProjectPayday.com averaged around 3 MILLION page views per day in the last 30 days (as of Apr 22, 2008). A swift dance around the calculator says that if they convert only 1% of that traffic, that's 30,000 signups/referrals. Now multiply that time a really low referral fee of five cents (30,000 x .05) and you get $1,500 A DAY! That's $45,625 per month just off referrals during sign up. If only 1% of those sign-ups also purchase the "Bonus Pack" at $19.95 each that comes out to (300 x 19.95) another $5,985/day or a whopping $182,043/month. THAT my friend is how Project Payday makes money! That's over $2.7 million a year off a FREE website! Wow!
So How Do I Make Money With Project Payday?
Well, there are a lot of ways. So many in fact I'll have to write another post about it, but you will not want to miss it.
Thanks for stopping by and check back often for updates.