How to monetize WatchCrunch
This is going to be an insane post, but I quite enjoy the experience on WatchCrunch so far so this thought experiment might be helpful for Max and his future plans.
Right now WatchCrunch.com is Max‘s pet project, but I could foresee the user count getting to a place where he will need to hire more employees to keep the website performant, differentiated, and engaging. Eventually, he will be faced with the decision of how to monetize this site so that it can be self-sustainable.
The worst-case scenario will be display ads plastered throughout the feed selling me on watches like the Hodinkee app does (it showed me the same watch ad three times in the space of 5 list entities). So I wanted to start a discussion and crowdsource the problem solving: have you seen any monetization strategies executed on other sites that WatchCrunch could adopt? The only thing I can think of is a WatchCrunch shop but that is a high lift in effort and operating costs.
Building a collection of different case materials and dial techniques
Can we make it an exclusive club? Yearly subscription without ads?
I’m fine with paying, but I’m not sure if the economics of that. Are there enough people who will pay, and how inclusive is the site at that point? This is a philosophical question about what this site is and what it should be. I’d love to hear what @Max has to say on the subject.
I generally don't subscribe to websites such as this, but I think I would for this.
I'd like to see the what's at the end of the path the rest of SM didn't take.
I realize there might not be enough of us willing to pay to make this a reality.
I would pay a subscription fee though I admit I don't know if the majority of folks would. I would also be concerned that we're locking some folks out based on budget (which probably makes for a less good community in general).
Maybe something patreonish? Specific privileges (custom badges, etc.) But make sure everyone can participate because that makes the community.
I'm a member of several groups in other areas of collecting, this is a common issue requiring a careful approach. In two cases we successfully monetized certain areas of the website (subscriptions, buy & sell section, & a shop) while allowing other areas free access to bring in new collectors and other interested parties. The two that come to mind for me are:
The Antique Phonograph Society https://www.antiquephono.org
Vintage Volkswagen Club of America https://vvwca.com
Craigslist stopped this back in 2010. I think WC should definitely bring it back.
https://www.bbc.com/news/technology-11330704
I go into a bit about this topic on the 40x20 podcast from today 😁
https://watchclicker.com/4020-the-watch-clicker-podcast/