What Is Project Payday?
by Phil Donaghy
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Loading ...Project Payday or A Journey Down The IFW Super Highway
You might already understand how GPT sites work and how you can make money online with them. If not, in a nutshell, a GPT site (or Get Paid To site, as in get paid to try products or services) is the online middleman between advertiser and consumer. The site gets paid by the advertiser to find leads (you) and in return pays you to take part in the offers of the advertisers. Usually this means you give out some info (name, email address, sometimes a phone number) in exchange for a payout, no purchase necessary. The advertiser then puts you into a database and proceeds to flood your email with spam about their products or services.
Payout usually comes in the form of a monthly check or through a service like PayPal and oftentimes you have to earn a minimum dollar amount in order to get paid. But it isn’t hard to reach that goal and it’s an easy way to help eliminate your debt to become debt free sooner.
As I’ve already mentioned in another post, Cashcrate is a great GPT site for someone wanting to make some extra money online.
Incentivized Freebie Websites (or IFWs for the acronym lover) are similar in concept to GPTs. You’ve seen them. Get a free iPhone or Macy’s Gift Card. The Macy’s Gift Card offer was spammed on MySpace recently. Basically you sign up for the free gift card, complete an offer from the sponsor and the website sends you the gift. You just pay for shipping and handling and oh, refer 10 of your friends and have them sign up to get their free gift card as well.
That’s the kicker. Getting the referrals. It’s like that shampoo commercial, “they tell ten friends and they tell ten friends and so on and so on…” I wouldn’t get to friend ten before being laughed away by the others. It sounds like a pyramid scheme and in a way I guess it is. But it’s a legal pyramid scheme, fronted by corporations.
But let’s back up a minute. How can these companies just give away free stuff? First off, I’m talking about large corporations, like Blockbuster, for example. What it boils down to is these large companies have enormous budgets for advertising. Since this is the age of TiVo addicts and Satellite Radio junkies where commercials can be skipped over or avoided altogether, less money is spent on those media and companies can now focus their mountains of advertising moolah on a much more lucrative and cheaper source: the internet. They pay a website to host an ad promoting their product or service and as a bonus to the consumer they offer a free gift if they sign on for a trial period of sorts. But what’s written in the fine print is in order to get the free gift they have to refer others that will also sign up for the trial period. Often enough it doesn’t get that far. Some poor yokel signs on for a trial period and never gets the referrals and the company keeps its iPhone or whatever freebie it might be giving away.
With IFWs, entire websites are built around these advertisers and their owners are getting paid nice sums in referral fees whenever a member completes an offer. After the member completes the required number of offers and gets the required number of referrals, he gets the prize. When, and I stress “when” a member doesn’t complete the requirements for the gift, well that’s a plus for the website. They’ve generated some revenue and got off without having to give anything away. Something they don’t pay full price for anyway because they buy the gifts in bulk.
If you want to see what one of these sites looks like:
http://yourhugerewards.com/index.php
Just copy and paste the link into your browser. I’m not supplying the HTML for the link because I’m not affiliated with them in any way. I don’t want anyone to think I’m promoting them. It’s just an example.
While I’m on the subject, one thing you might notice about the links in my post is that they either link to my other blog pages or are referral links. One way make money online is through referrals. You won’t make money online overnight with referrals, but enough will trickle in to help you make some money sooner.
Now back to IFWs and how to make money online with them by beating the advertisers at their own game. If you click the View Offers link on the website above, you’ll see that offers are broken down to tenths of a point or tenths of a credit. The required number of offers varies according to the point worth of each offer. Do enough offers to get a point and then you’ve just got to get your referrals…
So how does any of this relate to making money? I sure as heck didn’t see the angle when I first learned about it. Until I read how to make money online with IFWs through Project Payday.
Basically, you join a forum built around a network of players who will either pay you to be their referral or who will sell themselves as referrals. Let’s say someone signs up on an IFW to get a cash gift of $600 and that they need 10 referrals to get the money. This person is considered the buyer. Then let’s say the buyer offers to pay $25 a head until his referral count is met, $25 being the typical payout for a referral. The referrals are the sellers. They sign up to the same IFW using the buyer’s referral link, go through the same process of completing offers as the buyer, but they don’t bother with finding referrals because they’re getting paid to do this. It stops for sellers at completing offers. Once they fulfill their credit requirements the buyer gets his $600 gift. The buyer then forks over $25 bucks to each seller via PayPal, making a profit of $350. Now, knowing you’d never make the 10 referrals on your own, that sounds like a sweet way to make money online if you ask me.
And if you’re thinking what’s to stop someone from screwing you over and taking your $25, there are a lot of politics surrounding the forums to ensure everyone plays nice. An eBay-type rating system is used to handle complaints and all transactions are made through PayPal so it’s damn near impossible to screw someone over.
To date, I have only been a seller. It’s the easiest way to start making money as there is no shortage of buyers. Each buyer has a thread on the forum with a list of IFWs they are “working” on. Once I found a buyer that looked trustworthy I spent about two hours sifting through offers trying to find the cheapest ones to complete. Every offer required a credit card (I can hear the EEKS already) or a bank card — which is what I used — for shipping and handling charges, which didn’t bug me so much until I started subtracting my fees from what I was getting paid by the buyer. But in the end it worked out pretty well. The first site was for a $30 payout by the buyer. It cost me $10.73 for three offers. The second site, which the buyer paid out a $15 bonus for completing it that same day, brought in $35 minus $8.86 in fees. Then I did two more sites while I waited for the first two sites to “green”. Greening means you are credited for completing offers and the buyer gets credited for your referral. These sites brought me $25 for $5.95 and $25 for $6.95.
So let’s do the math: $115 in offers minus $32.49 in fees. I made $82.51 in about three hours or roughly $27.50 an hour. And it only took that long because I didn’t know what the hell I was doing. Once I went green on my offers the money was sent to me through PayPal. By the way, you can get a PayPal account here:
I haven’t done many offers since my first day. Nine offers was enough to start. That’s nine free trials I have to keep track of and is a little too much work for me. That’s the hook of this game. If you don’t keep track of what offers you’ve completed and when the trial periods end, you’ll find yourself being charged for everything that you signed up for. This can mean losing everything you made and more. Lots more. And if you don’t scrutinize every page you’re directed to when completing an offer you might find your credit card billed for a product you didn’t see checked off in the corner and have to go through all kinds of hell to be reimbursed. Ask me how I know that one…
Overall, using IFWs is a great online source for making money online. And for that alone it’s worth it.
Where Project Payday comes in to all of this is the step-by-step guide they offer when you sign up to their website. They break down everything you need to know about how to be a buyer or a seller and there are several videos you can watch to see how it’s all done. And it’s free to join. They will try to sell you a Bonus Member Pack with all kinds of goodies in it once you’re on the site, but you don’t need it.
You can sign up for Project Payday at this link:
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