My first (and most successful) "directory site" is BetaList which I started in 2010.
It started off without any intent to monetize. I just wanted to provide a collection of up-and-coming startups because nothing like that existed back then.
People liked it, they signed up for the newsletter and kept coming back to the site everyday to discover new startups and apps to try.
Because I grew this captive audience of early adopters, companies started to notice and were willing to pay to get in front of those early adopters. Typical advertising model.
I didn't really market BetaList except for sending out a press release which got picked up by TechCrunch and got the ball rolling.
This type of website is really easy to start as the code is very simple (mine started out as a Tumblr blog) and the content is easy to get (just aggregate from various sources and/or ask people to submit their resource). Getting traffic (and later monetizing that) is a lot harder. As you will need to offer something that 1) enough people want, and 2) they aren't already being served. The fact that it's so simple to start a directory site means that it's hard to find opportunities that qualify. I think that's why most new directories fail.
The exception is when a new type of resource suddenly becomes relevant. Vision Directory (my most recent directory website) is such an example. When the Apple Vision Pro came out there was a sudden and unserved need. I tapped into that, got press coverage, and established the site as one of the go-to directories for Vision Pro apps. Anyone that's starting one now will have a hard time getting press coverage or mindshare, which means it's harder to get traffic, which means it's not that interesting for developers to submit their apps, which mean it's hard to monetize, etc, etc.
FWIW, I haven't monetized Vision Directory yet, because I don't think the numbers work yet (not enough people have an Apple Vision Pro and not that many apps are released), but I did start it with experience of running BetaList and knowing that as long as I'm one of the big players and get the traffic, there's a chance to monetize.
If you don't mind sharing, I'm curious about ballpark metrics on when you think Vision Directory would be able to monetize. Do you give create a specific deadline as a "trial" of sorts?
And what do you do if it doesn't hit that metric/deadline? Just leave the project hanging? Abandon it? Revisit later? etc.
I just play it by ear. No deadlines or goals. I think every project is different.
Vision Directory's growth is largely dependent on the success of Apple Vision Pro and the number of apps being developed for it. Right now, that's lower than expected. So I don't spend a ton of time on developing the site. But I keep it running in the hope that Apple Vision Pro will gain popularity and so will the site.
As for ballpark metrics, you can look at industry CPM rates. For example, if your industry has a $5 CPM that means you can charge about $5 per 1,000 ad views. So if your site has 50,000 pageviews per month, you can expect a ballpark of $250/mo in advertising revenue if you were to show one ad and have an advertiser lined up for the full month.
It's not a perfect science, especially at lower numbers, but it gives you a ballpark for advertising revenue.
For other types of revenue is really depends on your unique situation.
My first (and most successful) "directory site" is BetaList which I started in 2010.
It started off without any intent to monetize. I just wanted to provide a collection of up-and-coming startups because nothing like that existed back then.
People liked it, they signed up for the newsletter and kept coming back to the site everyday to discover new startups and apps to try.
Because I grew this captive audience of early adopters, companies started to notice and were willing to pay to get in front of those early adopters. Typical advertising model.
I didn't really market BetaList except for sending out a press release which got picked up by TechCrunch and got the ball rolling.
This type of website is really easy to start as the code is very simple (mine started out as a Tumblr blog) and the content is easy to get (just aggregate from various sources and/or ask people to submit their resource). Getting traffic (and later monetizing that) is a lot harder. As you will need to offer something that 1) enough people want, and 2) they aren't already being served. The fact that it's so simple to start a directory site means that it's hard to find opportunities that qualify. I think that's why most new directories fail.
The exception is when a new type of resource suddenly becomes relevant. Vision Directory (my most recent directory website) is such an example. When the Apple Vision Pro came out there was a sudden and unserved need. I tapped into that, got press coverage, and established the site as one of the go-to directories for Vision Pro apps. Anyone that's starting one now will have a hard time getting press coverage or mindshare, which means it's harder to get traffic, which means it's not that interesting for developers to submit their apps, which mean it's hard to monetize, etc, etc.
FWIW, I haven't monetized Vision Directory yet, because I don't think the numbers work yet (not enough people have an Apple Vision Pro and not that many apps are released), but I did start it with experience of running BetaList and knowing that as long as I'm one of the big players and get the traffic, there's a chance to monetize.
If you don't mind sharing, I'm curious about ballpark metrics on when you think Vision Directory would be able to monetize. Do you give create a specific deadline as a "trial" of sorts?
And what do you do if it doesn't hit that metric/deadline? Just leave the project hanging? Abandon it? Revisit later? etc.
I just play it by ear. No deadlines or goals. I think every project is different.
Vision Directory's growth is largely dependent on the success of Apple Vision Pro and the number of apps being developed for it. Right now, that's lower than expected. So I don't spend a ton of time on developing the site. But I keep it running in the hope that Apple Vision Pro will gain popularity and so will the site.
As for ballpark metrics, you can look at industry CPM rates. For example, if your industry has a $5 CPM that means you can charge about $5 per 1,000 ad views. So if your site has 50,000 pageviews per month, you can expect a ballpark of $250/mo in advertising revenue if you were to show one ad and have an advertiser lined up for the full month.
It's not a perfect science, especially at lower numbers, but it gives you a ballpark for advertising revenue.
For other types of revenue is really depends on your unique situation.