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6 Comments

How to monetize product comparison website?

Hey everyone!

First post here!

I recently came with the idea of creating a directory for medical services in my area. I recently had the need for such a service but noticed that this doesn't exist at where I live. However, the idea is still in its infancy and I still have a lot of validations to do.

One of the biggest challenges I have is what is the best way to monetize such a service? Some obvious answers I have are:

1 - Take a cut from bookings

This would require integrations with medical providers and thus I would need enough traffic to begin working with providers, (as I need to prove my worth first). Thus this would be further down the road.

2 - Advertising from medical service providers

The problem I see here is unless the app/website gets a tremendous amount of traffic, otherwise the income would be very modest. It might be better to keep the app/website ad-free to make it look less spammy and provide a better visitor experience.

Are there other methods that I can monetize this? Does anybody run a directory service here and would care to share your experience?

Thank you!

posted to Icon for group Ideas and Validation
Ideas and Validation
on July 6, 2020
  1. 3

    So with directories, you need to build the traffic a decent amount. Focus only on SEO and boosting that. After you are getting good traffic, you can contact the providers to basically be an affiliate for them (longer and harder).

    I personally would have sponsored listings. Enable the providers to claim their account and then pay to have their listing at the top. With this type of business, you have to prove it first.

    1. 1

      Makes sense. Thanks for your input!

  2. 2

    Heyhey, good idea, want to assist you with the brainstorming!

    It won't be easy .. because you will be a step between Google SERPS and the contact details / website they are searching for. Google wants to lure the providers (and their ad $$s) to their own services (eg. Google My Business, Adwords). Providers will want to work directly with Google, because that is what they know and trust.

    This is the problem of all directories . Which directories do you typically use?

    There might be an opportunity for services where people don't know exactly what or who they need (eg. I have sleep bruxism, who can help me?)

    1. 1

      Sorry for the late response (I missed the notification, still new to posting here) and thank you for your reply!

      The directory that I'm thinking of is to give comparison on existing service providers and allow the user to see clearly the difference offered by different services providers.
      Each of the providers currently put these information on their website, but in their own format such that it's hard to compare between them.

      A simple analogy is that it is not easy to compare a phone from Apple and Samsung based solely on their official websites.

      Phone comparison websites like GSAArena makes this really easy.

      I can also add simple filtering as a start and expand on that.

      1. 1

        heyhey, sorry for the late reply from my side :-)

        I can see some merit in what you propose. Comparing service providers is of course more difficult than comparing products. You refer to a product comparison website, do you have a service comparison website as example of what you would like to do?

        1. 1

          Hello Rodeo,

          https://www.canstar.com.au/

          Canstar is an example closest to what I want to do so far. They allow you to compare insurance, investing and banking services in Australia.

          It seems there're quite a few insurance product comparison tools out there (part of the e-broker business I suppose), though I can't seem to find any that sites/apps that compare medical services from hospitals and clinics.

          Perhaps this could be a sign that there isn't enough demand or that it is not easy to monetize such a product. 🤔

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