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An Entrecard Credit is worth $.006

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I mentioned in my previous post that 10000 ECs sold on ebay for $61. Yesterday, the same seller got $31.99 for 5000 ECs. So, if an EC is worth 6/10 of a cent…

…offering someone 20 ECs to comment on your site is like offering them 12 cents.

…200 ECs ($1.20) to design an ad is a steal.

…a Contest Prize of 500 ECs is a whopping $3.

…advertising on The Chow’s site at 250 credits would be a bargain at $1.50.

…don’t quit your day job if you’re counting on making money at 300 drops ($1.80) per day.

Even if the amount you pay to buy ECs is double what the price was on ebay, you can see that using ECs to purchase ads and services can be a smart move!

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Entrecard Credits Market Value

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I sold out. I closed EntreBank after just a few days and sold 10000 credits to Entrecash for $55, which was their advertised buy rate. As of the moment, it will cost you $80 to buy those 10000 credits from Entrecash. And seeing as how I didn’t get a single nibble regarding borrowing ECs, I decided to cash out and walk away from the table. And if the folks at Entrecash can make $25 profit on the transaction, then more power to them.

I expect that Entrecash will make a profit on my ECs. And I also expect the value of ECs will continue to drop. Here’s why:

1) Fast clicking chaindroppers can cruise through 15-20 card drops a minute. Keep that pace up and drop 600 cards (between two accounts) and you might end up with 800+ ECs (after the return drops) for your efforts. Do it every day for 2 weeks and end up with 11000+ ECs. Now what? Buy ads? Spend them in the Shop? Continue to accumulate ECs? Sell off what you have? Because it’s easy to get ECs–lots of ECs–and lots of people are getting lots of ECs. And if more people are wanting to sell them than are wanting to buy them, the price (and corresponding value) is going to continue to fall.

2) The current ranking system is driving up the price of ads as more people join Entrecard and are dropping cards left and right. My Internet Marketing Adventures account had a sticker price of over 300 ECs for an ad last week. Why? I was dropping cards like crazy! I got an added boost from some well placed ads featuring my Entrecard on sites that have real traffic and not just chaindropping traffic. And once I made the Most Popular page I got additional card drops from those who figured it was a good strategy to drop on all the cards in the Top 30. Success begets success. Did the value of an ad on my site change much? Probably not, even though the cost to advertise on it went through the roof. We’re paying more because more people are in the game and even when the laws of supply and demand are in play (no wait time), the price of an ad stays artificially high because of card drops.

3) I suspect (sorry, no data) that many Entrecarders enjoy watching their credit counts go up, even when it makes more sense (to me) to spend most of one’s available credits on today’s ads instead of tomorrow’s higher priced ads. Assuming that two sites have equal traffic and the biggest difference in their ad price is when they joined Entrecard and started actively card dropping, the newer and less expensive site would be the better value. Waiting another week to advertise will likely cost you more and will weaken the value of your ECs.

It’s worth mentioning that 10000 ECs were just sold on ebay for $61. As it turns out, the seller got a couple of dollars more than I did for my 10000 ECs…with a lot more risk and effort. But the ebay auction validated the price that Entrecash was offering on their website. (Chicken and the egg?) $55 per 10000 isn’t enough to quit one’s day job over, but I expect that we’ll start to see more services in the Store and Entrecard related transactions start to reflect the current prices. We’ll also see some opportunities arise where market information isn’t perfect and sellers of goods or services are unwittingly providing bargains due to the dropping value of Entrecard credits. For example, BloggersShowroom.com is offering to put your 260×154 ad on their site for $10 OR 100 ECs a month. That’s a great exchange rate! Even if you had to buy (and who would?) the 100 ECs for $1, your ad cost is only about 3 cents a day.

Of course, Graham could change the ranking system or otherwise manipulate the flow of ECs and then this post would be moot…and I’d have to write another one!

Entrecard Dropping Tips & Hints

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Not yet the seasoned blogger, I don’t have a list of ideas for posts to write each day. Fortunately, (at least for this blog) there is enough going on in the evolving Entrecard community that I can usually find something that tickles my fancy. Today my interest is back on card dropping strategy, with a pinch of advertising strategy thrown in. My first post on this blog was about chain dropping and I thought it was interesting that a few folks disagreed with my approach. (Note: I have several previous posts about Entrecard on My Internet Marketing Adventures blog.) There are many paths up the mountain and I’m trekking on one that works for me, although it might not work for others. As such, I’m not attempting to be an expert or suggesting that others follow my path.

One of the paths that I followed as a new member of the Entrecard community was that of an upright guy with the unlikely handle of Turnip. His response to my post about chain dropping can be found in the comments section, but is worth highlighting here in its entirety:

Thanks for mentioning my list. I wanted to make a few comments about the history of it. I created it by going through every single entrecard at the time. It was an excercise in trying to be more efficient with my time. Every single card. Those above the fold got in, those who weren’t even close didn’t. If people want to play “where’s waldo” with their entrecard, then I want nothing to do with them, and certainly don’t want to advertise on a hidden card. When I finished my first list, I considered selling it. Only problem was the shop wasn’t open yet, and I had an A-hole in the forums campaigning against my blogs. I released the list for free, and kept adding names from the “most recent” category until I had nearly 350 names. I then deleted all blogs that hadn’t posted in over 30 days. I also deleted obvious spam blogs. That dropped me under 300 again. When my blog got popular, some people started asking how they could get on the list. I had always added anyone who asked, but decide to ask for a technorati favorite or subscribe to rss as a return favor. There never was any clique as I here some people claim. Recently I created 2 new categories, favorites and new blogs. By dropping blogs that seem inactive, and adding hungry new blogs, my list should give you a very high return drop rate. The problem is you have to do it every day, comment, and post in the forums so people actually notice your name.

Coincidentally, I just raised the question in the Entrecard forum of creating an Inactive Status for Entrecard accounts that are dead in the water. Why? For the reason that Turnip points out…by not dropping on Inactive accounts it should improve the return drop rate and increase one’s efficiency. Not a big deal if you are only dropping 5-10 cards a day (which when some folks recently mentioned in a forum post, I promptly took them off my chain drop list), but if you are dropping 300 cards each from multiple accounts, efficiency gets to be really important.

I have further posited that separate lists based on the location of the Entrecarder might eventually be of value. Not now, but if there are 2500 ACTIVE Entrecarders and you have plenty to choose from, why not have separate lists that would have your Entrecard being dropped at the time of day when it would have the highest probability of being returned? The day of the week comes into play also. I’ve noticed that Friday afternoon and evening are SLOW and Saturday can get really busy, reflecting how many people are sitting down at their computers versus doing something else. And while it’s possible to capture all the cards dropped on you via a feed reader pointed at your inbox, wouldn’t you want your card to be “fresh” and not the last one on the list to get a return drop?

And what about those chain droppers who dropping on your site every day? As I mentioned in an earlier post, do you need to drop a card back on them every day? No. I’ll bet once a week would do it. They aren’t going to notice and they’re not going to take it personally. (There goes my card off of everyone’s list.) Eventually I plan to have a list of chain droppers and a list of return droppers and time my drops on each list accordingly.

For what it’s worth, I prefer to subscribe to a blog via email. For some reason I can scan it and archive it (bless you Gmail) and move to the next one without having to wait for someone’s site to load or deal with their ads. I have also found that card dropping with images and page colors turned off is faster and more conducive to reading content. To each his own.

Finally, my tip for the day about advertising:
When looking in the Category listings, roll your mouse over the Entrecards and check out their “http://entrecard.com/details/XXXX” number. Higher numbers are reflective of newer Entrecards, but not necessarily newer Entrecard accounts, as each time you submit a new Entrecard design it is given a new number. However, if you see a lower number that has available ad space and is in the middle or lower part of the Category, it’s very possible that that is an inactive or disinterested account and your ad won’t be approved or you won’t get any real benefit from it if it does. I’m in the process of removing these accounts from my chain drop lists as there is very little chance that I will get a return drop.

EntreBank on It!

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In case you hadn’t noticed, the Biz Beacon group of blogs expanded yesterday to include The EntreBank. Due to a flurry of card dropping, I’ve already gotten quite a bit of traffic to The EntreBank and plenty of complimentary comments. No borrowers as of yet, but I have a feeling that that will change shortly. Perhaps people are giving me too much credit, in that my intent was to be able to use the EntreBank as a community-building tool more than a business proposition. I remember what it was like to have few EntreCredits and not be able to advertise on the higher ranking sites. Now that I have plenty of credits and find that most of the blogs are overvalued (especially mine), and considering the small percentage of the ad price that actually goes to the blog owner, I decided that it might be a good thing if I offered to help out some of the newer EntreCarders by lending them some of my EntreCredits. This was intended to be a non-cash transaction and repayment would be on the honor system.

Coincidentally, a new Entrecard account called EntreCash also debuted yesterday. From their website:

“EntreCash does one thing only. We buy and sell Entrecard Credits (EC), that’s it.”

What an interesting day for the Entrecard community! Now you can buy, sell, and borrow EntreCredits from fellow members.

The fact that I didn’t go right to buying and selling of EntreCredits when I was thinking about the EntreBank is probably why I have spent more time as a strategic planner and consultant than I have spent as an entrepreneur. It’s just not in my nature to look for ways to make a buck…something that I would like to change a bit. So, in that spirit, I’m thinking of having The EntreBank offer EntreCredits for sale at 90% of whatever the going rate is elsewhere. Just message me on the Entrecard system and if you’re really serious about buying EntreCredits instead of just borrowing them, then you can send some cash to my paypal account.

In the meantime, I’m banking on the Entrecard community to continue to double in size a couple more times and that’s part of the reason I’m trying to manage multiple Biz Beacon blogs. Yeah, I know…I should probably be spending some time figuring out how to make money with my time. But old habits die hard and I’m having too much fun to worry about such mundane details just yet. Tomorrow. I’ll start tomorrow!

Bloggernoob is Laying Out Some Cash…Soon!

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I might even be too late with this post, but check out Bloggernoob’s progressive jackpot contest, with a minimum $50 payout.

Contest rules are pretty easy. Mention the contest, Link to Bloggernoob, and leave a comment.

The Entrecard Community

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If you have arrived at this post with absolutely no knowledge of what an Entrecard is, my suggestion is that you go to Entrecard.com and watch the video. Entrecard is creating a lot of buzz and thousands of bloggers are joining and participating in the adventure. And as there are hundreds, if not thousands, of posts about Entrecard that can be googled, my intent with this post is to give you my 2ECs worth.

1) Entrecarding can become addictive and you might find yourself spending more time managing your account (ads, comments, and dropping cards) than you do actually writing content for your blog. Depending on the stage of your blog that might be a plus or a minus. I bring it up here because I have to constantly remind myself that Entrecard is a tool and that even though I have a good time messing with my Entrecard accounts, the main reason I participate isn’t to have fun.

2) The Entrecard community is experiencing rapid growth and it is likely that there will be more members that join Entrecard in the next 6 weeks than have Entrecard accounts today. The site continues to change and evolve and that will suit some people more than others. Imagine what things might have been like way back in November when one would have had to visit a good percentage of the active sites in order to reach 300 Entrecard drops a day. I joined in the last week of December and could sense a camaraderie that existed amongst some of the “older” Entrecarders that will be impossible to replicate when there are 5000+ accounts.

3) The Entrecard opportunity can result in lots of new traffic to your site and that can be pretty thrilling to many newer bloggers. No, chaindropping does not result in “quality” traffic right away, but most quality blogs will increase their readership over time. Not everyone stays active with Entrecard, as there are likely many folks who decide that the results they got did not justify the time and effort spent on Entrecard.

4) It’s about community. There are numerous methods to increase traffic to and readership of your blog. If you don’t like belonging to a “community” then my guess is that you will tire of Entrecard within a month or so. Human nature seems to be we get out of things what we put into them. If you like reading other blogs and interacting with other bloggers, then you’ll have a good time with Entrecard. If not, maybe you should focus your efforts on SEO.

Comment posted by M. Apip
at 2/12/2008 12:41:00 AM
Thank you for your inputs.

http://mydreamvillage.blogspot.com

Comment posted by biz beacon
at 1/29/2008 6:34:00 PM
I enjoyed the climb onto the Most Popular page, at one time reaching the 16th spot with My Internet Marketing Adventures blog. The thrill was short lived. Now I am looking for a long-term Entrecard strategy that is less about credits and more about connections.

Comment posted by Dreampunchboy
at 1/29/2008 5:16:00 PM
I’m so sick of trying to stay on top. I just gave up, not worth it. Takes way too much time. But don’t depend on card droppings etc. I never drop unless I am on a blog where I read an article.

You have to really think “out of the box” to go upwards in the rankings.

Comment posted by Mo
at 1/26/2008 4:39:00 PM
My first visit here, via Entrecard!
I’m brand new there, but am enjoying what I’ve seen so far!
cheers,
mo @ It’s A Blog Eat Blog World

Comment posted by peterahon
at 1/25/2008 4:14:00 AM
yeah entrecard is addictive… well I think it is but proper to acknowledge and return back those who visited/dropped their card to you, so it is another of those internet time that I spend, good thing most are into blogcatalog also. So writing sometimes take the back seat… ugh…

To say about addiction this is another addictive site that I am so much caught up with:

http://peterahon.qassia.com/

well I like to maintain being on
the top 15 so I am addictive to it… another… ugh…

Affiliate Lounge Non-Contest Follow-up

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The best part of the Affiliate Lounge’s non-contest wasn’t earning an easy 500 Entrecredits, it was exchanging a few messages with site author Phillip van Coller. Nice guy, and considering that it was 3am his time (South Africa), a very generous guy indeed!

Xavier Media Contest Winner….Me!

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Xavier Media holds frequent contests and I scored 350 credits from their most recent one. Thanks guys!

The Uncanny Broadcasting Brain Blog…Thanks!

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Chalk up another contest win for the BizBeacon! Mark Dykeman of The Uncanny Broadcasting Brain awarded me the 500 Entrecredits for winning his contest. (Read my review of his blog at my companion site.)

The Uncanny Broadcasting Brain Blog

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A bit of a coincidence, but the first two blog reviews that I’ve done both have interesting avatars/logos where the character is wearing dark glasses. (In the case of The Uncanny Broadcasting Brain Blog I think the glasses help out his X-ray vision.) A visit to this site, which is authored by Mark Dykeman, with the occasional guest author chipping in, isn’t complete without going to his About page and getting a richer glimpse into why he is writing. Mark mentions that he is an ISTJ and I’m an INTJ and so we share some similar personality traits, at least according to the MBTI. And while you are tooling around the Broadcasting Brain’s site, take the time to visit the “old site”, The Mark Dykeman Web Niche, for some additional posts and entertainment.

You have to like a guy that uses Superheroes in his posts! Green Lantern aside, Mark compiles some very good information about Social Media and how best to utilize StumbleUpon, Reddit, Digg and other popular sites. And if you’re in the mood for Beef Stroganoff, Mark’s your guy. Mark is establishing a niche lens on Squidoo with more info on the tasty dish than I have ever seen in one place.

So, extend your antennae and pick up some of the brainwaves that are being sent your way by Mark Dykeman at The Uncanny Broadcasting Brain!