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10 LinkedIn Groups, 13000 members, 0 revenue

Discussion in 'Making Money' started by lifegauge, Jan 3, 2011.

  1. lifegauge

    lifegauge Newbie

    Jan 2, 2011
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    I went through the forums to see if anyone posted anything about LinkedIn, and couldn't find any so thought I'd start and hopefully others get to learn from this thread as well.

    About 3 years ago I started my first niche group on LinkedIn, the Asian Investors Group. The initial idea was just to create a group which has investors, entrepreneurs, and anyone else who was interested in Asian-based investment opportunities to exchange deals and ideas. I then moved on to create 9 other groups, all with their geographical niches (European Investors Group, USA Investors Group, etc.) and everything started growing organically from there. I even went to the effort of "branding" the groups so that every group had a different logo, but had a similar feel to them.

    The groups organically gets about 20-30 new applications a day, and I approve each and every single application. When someone applies to join a group, an email (which I can customize) is automatically sent to them from LinkedIn. Once the application is approved (or denied), another customized email is also automatically sent by LinkedIn. The only time I spend on managing these groups is just to go through the profile of the members who apply. Basic turnkey stuff.

    Occasionally, I use the Group Manager function to send out a weekly group message to all members, usually promoting a press release or sharing an interesting piece of news that I find that is relevant to each group. I've tried ways and means to think of a revenue model around these groups that I've built in the past 3 years, but nothing came up.

    The only success I have made so far was to build an automated data gathering process. Basically, as a group owner, you can set Templates which LinkedIn will automatically send to all new members who request to join the group. Another template can be set to those who have been approved/denied access to the group.

    What I did in September:
    1. Create a Google Docs form to gather data from new members who bother to complete a sign-up form (non-compulsory). This means that whether members complete the form or not does not affect their ability to join the group. I will tend to approve most requests anyway!
    2. Put a link to this form in all the groups' Templates (joining and approved messages), and write a convincing paragraph for all members to complete the form. If you're curious what the form looks like, here's the link: Global Hedge Funds Groups on LinkedIn (I'm using a URL shortener just to see how much response I get from WF, no other hidden agenda)
    3. Forget about what I did.

    Below is a screenshot of the Google docs form, as you can see from the data, I am getting on average 1 submission every 2 days with no effort.

    Screenshot here: -----> goo.gl/9B7t0

    I wonder if anyone here on WF has any thoughts on this and could share a tip or two?


    TBEASE Registered Member

    Sep 3, 2010
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    thats some great success with memberships.
    You could sign up to various online retailers and start recommending books with an affiliate link to earn commission.

    DO a similar deal with various magazines and see if you can get your group members a special deal. As always, ask for a commission for every subscriber you sign up.
    Of course, you could always raise capital from your members for a business idea. You are an authority of sorts since you own the group!

    I'd love to hear more about the various tactics you have tried.
  3. facebookdude

    facebookdude Elite Member

    Feb 28, 2010
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    Did you post this straight from WF? Might wanna change that lol.

    Other than that I don't know what you can do, that personally wouldn't have been the types of groups I would make but yeah. Good luck with it!
  4. klaxxon

    klaxxon Junior Member

    Oct 23, 2009
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    try to add some cpa offers. :)
  5. lancis

    lancis Elite Member

    Jul 31, 2010
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    Milky Way
    Home Page:
    I believe I know what group you are speaking about. As upon joining I did experience all the mails you describe. Asian, European, USA investors groups do ring a bell as well.

    I cant point to the solution of your problem. However, the problems are very clear:

    - You do not understand your audience. I, for instance, joined the group in order to be able to contact other members directly. The mails from the group go to garbage bin automatically.

    - Your audience is a tough one, these are not naive people. And to convert them you need to be very original in your approaches.

    Hope that helps.
    Last edited: Mar 12, 2011