We've tried to build this in the past with Looria.com, where we aggreagted and summarized reviews from the most trusted sources, e.g. Reddit: https://www.looria.com/reddit
Couple of challenges:
- Astroturfing is everywhere
- The data sources, especially social media, become more protective with their data
- Monetizing this is super hard. As an aggregator, you're always just the intermediate. The glory times of ads and affiliate marketing are over.
Vetted.ai is working on something similar and they raised $14M in 2022. For all consumers, I really hope one of you will succeed!
Thanks! Super interesting how many different approaches there are to this problem. Definitely encountered these challenges, and we think there's solutions to them eventually that we have to build towards. I'll drop a message sometime, would love to chat :)
Over time affiliate programs like the Amazon one have become a lot less generous. On the other hand though from running an ecommerce site I'd be happy to work with an affiliate like this that isn't just a coupon website that basically adds no value.
That's what I've heard as well. Also, the lag to when you actually get paid is super painful.
Also curious - how do you think about affiliates as someone who runs an ecommerce site? Are there any reservations about whether services like us take search traffic or ads revenue?
Is the implication here that you need to charge and users will leave you once you do? If you can make a product that's significantly better, then you should be able to charge. The thing I'd note for affiliate marketing as a business model is that for it to generate significant revenue, you need to have a lot of traffic while other business models can generate that much faster (subscriptions) or make you money based off of that traffic (ads) instead of how many products are purchased.
Your note on affiliate marketing is what makes your first statement potentially unachievable. How does a consumer "know" that a product is significantly better to the point of "worth paying for"? There's always another free (potentially ad supported) affiliate marketer (or 5) around the corner. (Also considering the "worst" version of this
"product" is an unskippable ad").
Fair. The best solution we've seen is building the product in some way where it's somewhat defensible, either through data, features that bigger players won't build, etc. and then using a subscription based model if users are willing to pay for that and value the searches high enough or using an ads based model if you're optimizing for traffic rather than pure value on each search.
We've looked a bit into CR and Wirecutter, not that deeply into CR yet though. I definitely used Wirecutter for a bit of things in the past, and they have a high level of trust that we'll need to seek to replicate.
Couple of challenges:
- Astroturfing is everywhere
- The data sources, especially social media, become more protective with their data
- Monetizing this is super hard. As an aggregator, you're always just the intermediate. The glory times of ads and affiliate marketing are over.
Vetted.ai is working on something similar and they raised $14M in 2022. For all consumers, I really hope one of you will succeed!