- Tram Ho
How can I become a millionaire?
How many of us ponder this question. When we see someone pop up through a single creative advertisement overnight, do we think “if only I had that idea?”
For me, that thought flashed when I heard a story about Alex Tew – a 21-year-old student in the UK. Alex needed money to go to college, and he came up with a simple but very clever idea to help himself earn $ 1 million in less than 5 months. It surprised the world – why didn’t I come up with this?
Million dollar idea
Alex wants a source of income to pay for college without borrowing more. His idea is very simple.
Alex has created a website called milliondollarhomepage.com. The homepage consists of one million pixels arranged in a 1000 × 1000 pixel grid. Alex will sell pixels in 10×10 blocks to companies that can use these blocks as advertising spaces. Each block will be an image, link to the website of the business. In fact, they are small advertisements and Alex’s website is a giant billboard. Each pixel will cost $ 1 and the minimum spend is $ 100. Minimum spending is to make sure photos show.
Alex limits the site to 1 million pixels or $ 1 million.
The first smart marketing strategy is to use USD as the base currency. Although living in the UK, Alex feels charging in GBP would make the site more expensive – at the time one GBP was equivalent to 1.82 USD. He also felt that $ 1 million sounds better than £ 549,451.
Alex also put the tagline and perfect domain name for his website. Alex invested $ 50 to buy the domain name and two days to build the website. Now it’s time to market it.
The effect is spread
With no advertising budget, Alex had to start like many other small startups with the goal of family and friends. He lobbied them to buy pixels to fund the company. After two weeks, he sold 4,700 pixels, bringing in $ 4,700.
This amount becomes the advertising and PR budget. Alex hired a PR company to write the press release. With its unique plot and interesting camera angles, this story was immediately sought after by both BBC and The Guardian. On the release date, Alex sold $ 3,000 worth of pixels.
Since then, Alex has become known for his unique social media, bloggers, and chat forums. Over the next two weeks, Alex earned $ 250,000 and this simple website received 65,000 visits per day. Catching the information, Alex has been reported by the media in 35 countries.
In just 2 months, Alex earned 500,000 USD. At this stage, Alex needs help keeping the site up and running. He recruited two people to maintain the website’s database and deal with customers. He also recruits a press staff to design advertisements to increase sales in the US.
Alex’s only rule for advertisers is not to advertise for pornographic companies. Ironically, the largest pixel block was acquired by a company called Pixellance, which spent $ 10,800 on pixels.
As of December 31, just 138 days after launch, the site reached $ 999,000. To maximize advertising, Alex auctioned the last 1000 pixels on eBay. The auction lasted 11 days and the winner, MillionDollarWeightLoss.com bid $ 38,000.
Alex surpassed his target and earned $ 1,037,000.
Why is the strategy effective?
Unique selling point
Alex created a unique advertising proposition. There are many websites that sell advertising space, but Alex comes up with an innovative solution. Alex’s model is different enough to capture the attention of the media. This turned out to be beneficial for those who first adopted Alex’s advertising model – as they benefit from the increase in website traffic. As more media are interested, the site will become more attractive.
“The key to getting the media’s attention is the idea; it has to be unique and quirky enough to stand out. newspaper as a catalyst. This interest, together with social media and traditional word of mouth, has created a real buzz. “
At the top of his website, Alex left the content: Owning a piece of Internet history – this also promotes businesses to advertise here. All companies want to be part of this initial project.
Advantages of pioneers.
The idea is not so important. Anyone can think of it. But Alex was the first to do it.
As soon as the site launched, many imitators followed suit. Within a month, there was another Million Dollar Home, the Million Penny Home, the Million Euro Home and the Million RMB Home. However, none of these sites are working very well.
As Alex said at the time: “They appeared almost instantly; there are now hundreds of websites selling pixels. Imitators are all competing with each other. The idea is only one and it depends on it. timeliness and creativity “.
An idea and a simple tagline.
The website name says it all. The idea is very simple. This makes the marketing message easy to convey: one million pixels = one million dollars. No more detailed marketing is required as no further explanation is required.
This is the key to success. Site has testimonials from advertisers. Many of these companies buy pixels for fun, but then find the amount of traffic they get for a fraction of their budget.
Source : Genk