The Real Truth About Mobile Monopoly

If you don’t want to read much – here’s the summary.

Mobile Monopoly exaggerates the possibilities without providing enough details.  On the plus side, the mobile squeeze page generator BeastMobi is pretty good.

In a nutshell

The author’s favorite and most lucrative method of mobile marketing is using the Admob platform with a mobile optimized squeeze page targeting IPhone / Droid users (51M phones – not 5 billion) and selling Clickbank products to those people.

For example.

Mobile Monopoly Clickbank

Where I have a problem with this is the math.

If you listen to audio associated with the Clickbank module, the author says:

Let’s say you spend $50 to get those email addresses with the campaign you ran and you made $100 that means you just made a $50 profit.  Now you do that over and over and over that starts to add up.  You see what I am trying to say here?  This is huge.

OK, yes I see what you are trying to say here.

I just don’t believe it.

My experience to date shows that getting those 51M Iphone / Droid (yes, I was just targeting the 35+ Iphone woman) isn’t that easy.

If you don’t mind watching paint dry, then sure, you can get Iphone users to click on your ads.

paint dry

(2 clicks in 16 days doesn’t cut it for me).

Let’s Do Some Math

I have 35 Aweber subscribers from the Admob campaigns I have run to date for one product.  The number of clicks was 1834 at a cost of $105 using a mobile optimized squeeze page.

mobiles queeze

Caveat: Yes, I know.  I am NOT targeting just Iphone/Droid users.  Maybe my results would be better if I just targeted those users (2 clicks, no subscribers in 16 days – I don’t think so).

Each subscriber cost me $3.  So far, the revenue is $0 from one email to each subscriber.

Keep in mind, I am using the author’s favorite and most lucrative method of mobile marketing.

My Suggestion

Adam, why don’t you show a campaign start to finish, A-Z, spare no details.

When you talk about spending 50 bucks and making 100 bucks, ramping it up and this is big … I just don’t get it.  Setup a “sacrifical” campaign for your customers showing the good / the bad / the ugly.

Beastmobi

Like I said, this is good.

I’m a fan of automation that makes sense.  And this does.

This script takes your Aweber code, Youtube embed code, optional tracking code (or you can use the tracking code provided), mashes it up and creates a basic mobile optimized squeeze page.

beastmobi

Is it worth $67 / month.

If you are making bank with Mobile Monopoly, hell yes.

If not, no.

The End

I consider Mobile Monopoly and introduction to mobile marketing.  If you don’t know about Aweber and Clickbank and want to know how to signup and use those, the videos are useful.

The introductions to the mobile advertising networks are beneficial if you don’t already know about them.

The key to the whole thing is spelling out in the first Update – split test.

I think I have said enough.

P.S. – I’ll have my own mobile squeeze page generator available soon.  UPDATE: Mobile Video Squeeze page generator available, CLICK HERE

{ 10 comments }

Barry

Hi Dave

Few of these types of opportunities will work right out of the box. What I suggest you do, if you want a warts and all overview of a mobile campaign, is look at the videos on offermobi and see a campaign from start to finish, including CTR’s, conversions, profits, copy and more. The profits are there….but sending them to a clickbank sales page won’t cut it. Most people making bank are doing CPA. If you want to build a broad list in a broad niche like dieting, I can see list building working well with a good series of Autoresponders. How many follow up messages have you sent? What has been your open rate and CTR from these messages?

Have you tried CPA, ringtones, email submits, click to call offers, banners, split testing copy or other variations?

I think that to determine that this isn’t a good opportunity after 35 subscribers doesn’t giver you enough time to take (bad) luck out of the equation and come to a statistically significant conclusion.

Also, why are you getting a lot of clicks and so few subscribers? The ratio of click to subscribers is horrible. If you tell them on the advert that they have to subscribe, you will almost certainly get fewer clicks, but if opt ins hold steady, you’re cost per opt in could fall dramatically giving you a better chance to monetize on the back end.

A quick survey monkey survey wouldnt do any harm with this type of marketing as well.

Keep at it Dave…I think you’re dismissing this far too soon and giving out some potentially poor info to your readers.

Barry Walls

Also Dave, I know what a techie you are…so I’d definitely be interested in your mobile squeeze generator…and agree $67 a month is a lot.

admin

Barry,

Good to hear from you and thanks for the feedback. This is the kind of conversation that adds value, lots of it.

My comments:

>> Few of these types of opportunities will work right out of the box.

Agree.

I made sure to pick what the author presented as the “best” – his favorite and most lucrative method – and apply it. That includes using Admob, targeting Iphone/Droid users and squeeze them into a autoresponder then following up with a Clickbank offer. Yes, I have only sent one email. Ten hops and no sales.

I’ll certainly agree that the data is limited. How much time and money do I need to spend to figure this this out? I’ll check out offermobi (thanks).

>> Have you tried CPA, ringtones, email submits, click to call offers, banners, split testing copy or other variations?

No.

>> Also, why are you getting a lot of clicks and so few subscribers?

Not sure. I *suspect* it has to do with what the visitor sees on their phone (refer back to my previous post about what screen resolution and phone types visitors are using, http://www.davewooding.com/the-ongoing-truth-about-mobile-monopoly/ ). I’m using the mobile optimized squeeze page the the author is creating using the Beastmobi software. He says it works … my results aren’t so hot.

I’m getting very few (fraction of a percent) of my clicks from Iphone users. This is the user base that the author claims is most lucrative.

>> Keep at it Dave…I think you’re dismissing this far too soon and giving out some potentially poor info to your readers.

Yes.

Thanks Barry.

Dave

Barry Walls

Dave

I think you can make profit in $50 with only a little knowledge of CPA. If you know what you;re doing, this budget will almost certainly give you a home run. Its all about the offer and the targeting.

In terms of how much you need to spend to figure it all out…I’d normally go with an order of magnitude greater than the expected response rate to take luck out of the equation. So if you expect 3% conversion from CB, then you need @33 optins for one typical sale, so I’d be looking for 330 as a test. This might be overkill to some…but its close to statistically significant. I still think your greatest opportunity with this campaign is getting rid of the tire kickers in the actual advert itself.

Cut your clicks right down if possible and test your copy or a new banner.

I honestly think approaching this and sending a pitch in the first email from a list that doesn’t yet know you is doomed. Among other things, you haven’t yet invoked the law of reciprocity. If I was building a list here…I’d send three really strong value adding emails to keep the open rates high, then send an offer…and rinse and repeat.

I agree the product is slightly over hyped, but still…this is going to be a big part of the future IMO.

All the best

Barry

Brian

Dave,

I will be looking forward to using your mobile squeeze page generator.

Can you add short video clips to a mobile squeeze page?

Alan

Dave,

You stated, “Not sure. I *suspect* it has to do with what the visitor sees on their phone (refer back to my previous post about what screen resolution and phone types visitors are using”. I don’t know if they have a mobile version but I do know that http://browsershots.org/ will show you what your pages look like on different browsers.

Check it out, you never know.

Alan

Gearhead

Well, as I’m new to internet/mobile marketing, this all sounds pretty confusing.
But what I do appreciate here is the actual trial and review of a product (mobile monopoly). And the back and forth conversation about that trial and review. I went through 9 pages of supposed reviews about mobile monopoly, and it was obvious these reviews were written by people that were simply trying to peddle the product, and hadn’t actually used the product themselves. What a breath of fresh air this website is! And from now on, I’ll have a folder bookmarked as “Dave Wooding Reviews”.

Thanks Dave

admin

Glad you like it.

Hopefully you found the Google search tip in the other related post helpful when you want to review the author.

http://www.davewooding.com/the-ongoing-truth-about-mobile-monopoly/

Dave

Christine

Hey Dave, I’ve had the same experience with Mobile Monopoly. I think he’s onto something but if you look at the ‘products’ he was choosing to use, their CTR was much higher than they are now so using those same campaigns DOES NOT pay out. Spending $150 for admob and making under $50 after a month of lots of trial and error is discouraging. I’ve been looking for new info because like I said, I think this can work but it’s a changing, growing method. I’m looking forward to trying your squeeze page software. I’m not giving up on the concept but I am giving up on Mobile Monopoly and BeastMobi.

Christine

admin

Hi Christine,

You might be interested in this:

http://mobilovesme.com/survey/

I’m going to run another AdMob campaign – this time “live”. Like I wish the Mobile Monopoly author would have done.

Dave

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