$50,000 Marketing budget, how should i spend it?

I have $50K for marketing a new social media barter site that we are officially launching tommorow… I need a quick way to generate lots of traffic online that will have a huge impact on our membership rates. Or site already has 400 members from just 3 days of our own marketing on LinkedIn but im looking to get at leas 6,000 new members day and have the budget for it. We are converting 9.4% of our traffic to members and have obtained proof of concept, now we just need a way to bring in lots of traffic. I have considered E-Mail campaigns but am weary of un-reputable services. Im really interested in finding someone who can manage an Affiliate program for us. Any ideas would be greatly appreciated.

I don’t think he’s asking because he wants it to be up to him. You’re a part of the team… what’s your suggestion?

Why?

Using $50,000 is really up to you. I would highly suggest using a team approach to marketing because you most likely have a team or a board that you can go to.

Have each member give a unique idea and then put them all together and see where that takes you.

With that type of money you can invest in more long term strategies like some serious seo. I’d stay away from the pay per click model.

The ting about marketing is to be clear what who your audience is and what need(s) you fulfill. List where your audience hangs out (on and off line) and what communities that already exist can you tap into so that you are not reinventing the wheel. List those places by reach and cost and that will give you a sense of what your plan of attach should be. A $50 000 marketing budget, if used smartly, can get you a long way.

In terms of email campaign, checkout Campaign Monitor for a paid service and MailChimp for free service. Make sure to get folks to opt in to avoid a spam designation.

You weren’t clear about what your timetable was to find “a quick way to generate lots of traffic online.” Your timeline many decisions you make about how to reach folks most efficiently.

50k is enough to have some fun but not enough to go wild in testing.

You’ve got two paths here… direct and viral. With direct you can create a campaign across Google’s AdNetwork, Facebook and perhaps a few other ad providers to target your ideal demographic with some low CPM ads. You’ll get decent CTRs and hopefully be able to drive users at a cost of a few dollars at first, scaling down as you learn more and your site grows to be more attractive to new members.

The alternative is to do something more organic and seed a viral promotion that ties back to whatever your social site is about. Presumably you have a niche which can be exploited with video, a big contest, or some sort of stunt to get people hyped up and excited. Ideally your concept will be shared around more and picked up lowering the cost of traffic significantly.

This is something that the community can help out with more but you’ll have to divulge a little more info on to get more direct suggestions as it’s a pretty broad question right now.