#182208 by
Kramerguy
Thu Aug 16, 2012 3:08 pm
I've always felt that the biggest anchor in the Bandmix business plan was the pay-to-chat features. I'm sure they don't make a lot of ad revenue simply because the traffic is minimized, and traffic would considerably boost if they opened the chat features.
It's a double edged sword as their existing memberships would probably go into the toilet, unless they had some extremely worthy content within the site that people would be willing to pay for. On that level, I don't really know what kind of content would make me want to whip out the wallet with gusto.
Also, the monthy fees are a bit high, even considering the chat. There's some sites that charge $4.99 (for other similarly simple services) and it seems like a brilliant price point.. many people are far more willing to drop $5 a month than $10.. I don't understand the psychology behind it, but it's a fact.
In the end, there's two leading national and major sites for connecting musicians- Bandmix and Craigslist. To say CL is killing Bandmix in the race is an understatement. In my area, There's probably anywhere from 3-10 ads daily for bands looking for members or vice-versa. In nearby Philadelpiha, the figure is closer to 75-100 daily posts.
Add in that CL also offers (for musicians) the buy/sell listings, etc..
And it's all not just free, but AD FREE.
Bandmix CAN compete with that, as the site is dedicated to musicians and has far more depth and content. The key is for Bandmix to drop their pants and open chat for a year or two, accept the losses, and compete for that #1 spot and rip it from craigslist, and during that time, program some worthy and exclusive content and develop a members only section where benefits can have a better value vs. the non-members sections.
In my mind, the differences between member and non-member sections would be simply along the lines of non-members being able to use the public forums, band pages, and private messaging.
Members could enjoy members-only forums, buy/sell gear listings by city, enchanced private messaging (maybe longer history, bigger inbox, instant messaging?), enhanced band pages, member-only invites and free or discounted access to workshops, contests, benefits, etc.. you name it- there's 1000's of things a site can do to sponsor members-only exclusive content and outings.
The sky really is the limit. The only problem is traffic. Bandmix can't take CL's market share with the current model, it's that simple.