A few weeks ago I gave you a positive review of ReviewMe, the 'review network' that pays bloggers a set rate to post relevant reviews to their blogs...
I received my first payment from them last week: $50 for one review. It was actually the review of ReviewMe (which I linked to above), as that was the only review opportunity there was when I initially created my account with them.
The way the site works is that advertisers choose your blog, and give you the opportunity to write a review for them (at your set rate). This means that you wont have any reviews until/unless someone specifically chooses your blog.
It's been over 3 weeks now, and I havent received a single review opportunity through ReviewMe since the initial opp to review their site. I had wondered what type of response to expect, and maybe its too early to tell considering they just launched last month... but here are my initial observations:
ReviewMe is owned by Patrick Gavin, the same man that runs Text Link Ads. They already have a substantial database of advertisers, and Patrick is very well connected in the industry. I expected this would have a positive impact on the launch of ReviewMe.
That said, if you look at it from an advertisers perspective, it doesnt make much sense to pay the ReviewMe rates for advertising or creating a buzz in the blogosphere...
It's no secret that ReviewMe keeps 50% of the revenue, so a blog that is listed at $100 means that the blog owner receives $50 for writing the review and ReviewMe keeps $50 for brokering that deal between the advertiser and the blogger.
As an advertiser, if you knew that, why in the world would you pay the rate listed?? Would it not make more sense to contact the blog owner directly and make them an offer? Sure it would. You can simply browse through the blogs listed at ReviewMe, even sort them by specific criteria, and then contact the writers by email or through their contact form.
If ReviewMe plans to be anything more than a directory where people can make connections themselves, they are going to have to make some changes to their brokering model.
First, they'll need to change their pricing structure to a more reasonable cut - such as 80/20. And I believe they'll also have to lower the prices across the board. There are just too many competing advertising brokers that are targeting the blogosphere for the current model to succeed...
UPDATE - See: ReviewMe Expands