How innovative and sustainable is myLot method of paying for using their site
By eastways
@eastways (3)
India
January 14, 2007 9:33am CST
Even though lot of people might feel at first thought that paying for using a service is an absurd and unsustainable idea I feel this is a revolutionary and a very innovative idea. My reasoning for this is the best way to make money over the internet would be through advertisements. For this the site has to have a large customer base as well as popularity. In the beginning lot of sites and service providers became popular and later on went on to rake in lot of profits by giving away their service for free. Since then a lot of things have changed and now everbody is giving things away for free so the the best way now to attract users is to provide the users with incentive to use their service and what better incentive do we have than money!! The number of users mylot has been able to attract in such a short while speaks for itself. Ofcourse that said the quality of site would matter a lot beyond a certain limit and I am sure that is why the payment system here is variable and related to quality of posts than quantity. The rating systems, abuse reporting, etc all would help the system to be clean and sustainable. I am sure in the coming years this is going to be the new trend and mylot the trend setter.
3 people like this
4 responses
@mvsrao (4365)
• India
14 Jan 07
It is a good analysis . And welcome to
Mylot , the online community for fun ,
friends and money .
I can say that Mylot has been really paying
its contributing members for the past 5 months .
However , we cannot consider this site as
an online job for regular income to live .
As you said , the payment system is
variable . Mylot says the quality is
more important on this site . we donot
know how Mylot monitors the quality of
each and every post .
Although this site has many good features ,
it consumes lot of our time , and most
of us become addict to this site ...
2 people like this
@eastways (3)
• India
14 Jan 07
Thanks. Good to know that this enforces my belief that this is a sustainable model.
This I am sure cannot become an online job but definitely can become a supplement it though. One of the main reasons I feel that this cannot become an online job is that mylot would have structured into it's payment calculation algorithm the number of posts one is posting in a particular duration. For example mylot may be paying 5 cents for first 100 quality posts by a person and 2 cents for next 100 and so on.
Technically the tools that mylot has to determine quality are other users input such as rating a particular post, marking it as the best response, reporting of abuse, number of new referals joining through your link, etc. All in all it seems to be a refreshing and innovative idea.
btw does anyone know if the company is listed in any of the stock exchanges?
@dextrophobia (155)
• United States
15 Jan 07
Indeed. I raise my internet hand as a new user (only a day or so) and declare myself addicted. But I can honestly say that I'm simply not responding for money. I truly enjoy the discourse.
@ten_tons35 (177)
• India
15 Jan 07
i agree with you with in short time this
has grown up very largely
i hope it would increase enormously in the near future
