Forum Credit/Currency and paying members

[Shawn Gossman]

How do you feel about integrating a credit system into your forum that pays members to post?

If any of you are doing this, tell us how you have implemented it and if it actually works? How do you do it and not go broke yourself?

With all the custom currencies being made, do you think forum owners should jump on this trend?

 

[Mike30]

My point of view...
I believe it's imperative to incentivize your forum's members, one way or another.
The quickest way is offering monetary incentives to keep your forum with fresh content that attract your desired target users.

It's good to give those incentives in a constant basis until the forum gains the adorable network effect.

It's not about going broke, but expect to spend if you really are into building a community.
Look for ways to offset those expenses. But don't avoid spending in your community. -- It will reflect directly on what you are building.
Rome was not built in one day, but i wasn't built for free or "cheap" either.

Use money as a tool, don't try to save on every corner(that look really bad and stop you from getting bigger), just look for ways to make more so you can spend more with pleasure.

With all that been said, yes, I am doing it, and it's working like a charm. I strongly suggest it. (give incentives, and the more the better)

 

[AWS]

I used a credit system on my old off topic forum.

I am getting into IPB commerce. It's a build in marketplace. I believe I can use it for credits. I've been gradually re-learning everything with IPB again.

 

[Shawn Gossman]

I used a credit system on my old off topic forum.

I am getting into IPB commerce. It's a build in marketplace. I believe I can use it for credits. I've been gradually re-learning everything with IPB again.

You could probably make a regular store with it as well, right?

 

[AWS]

You could probably make a regular store with it as well, right?

Yes you can. Buy and sell goods and services. It looks like you can do a lot with it.

 

[Shawn Gossman]

Yes you can. Buy and sell goods and services. It looks like you can do a lot with it.

Interesting.

I'll keep that in mind when I try to talk myself into getting a license. LOL I'm sure a community idea will evolve where I need a good marketplace.

 

[Mike30]

Interesting.

I'll keep that in mind when I try to talk myself into getting a license. LOL I'm sure a community idea will evolve where I need a good marketplace.

I would say that a marketplace is a must on any community. Members all the time have something to sell or buy. But this area needs special attention to prevent scams.

 

[Shawn Gossman]

Yep - being able to recognize and mitigate fraud is ideal.

I do that professionally, LOL. It's not always easy, but I recommend learning it.

 

[gwolf666]

I think it's an excellent idea as a reward for all users, the problem is that you would have to calculate whether you can cover the costs of paying the forum users or not.