Small Business Consulting – What would 10,000 subscribers to your site be worth?

So I've developed a plan on how to add 10,000 real subscribers to my blog. It's not as expensive as you would think. The problem I'm having is quantifying the value of those subscribers.

I recently was planning to attend an internet marketing conference in Austin, TX and in the 'puffery' of their sales offer was an exclusive opportunity to attend the event because I had participated recently in one of their courses.  The second part of the offer was a warning that they were going to send out regular admission tickets to the general public via there subscription base of 200,000 people.  This made me take a step back and ask - "How in the world did they get so many subscribers?"  Then I had to ponder about how to grow my subscription base quicker.

I started looking around for programs or services that did this but all I found were people wanting to upload the same only list they had sold to 1000 people before me.  All that would have done is get my domain blacklisted as a spammer.  So then I looked to organic feeder systems that I could use to drive traffic to a page that enticed people to register.  I tested it and the people came - but very few converted to subscribers.

So what am I doing now?  Well, now I've created a hybrid system that I'm going to implement with the newest version of my blog that is coming out in a few weeks.

Here is my formula

Paid Focused Traffic + Special Offer + Pay Only for Subscription

The goal here is to bring people in from two different feeder systems that direct traffic based on specific niches and then give those visitors and exclusive offer for a free download of course they only get it when they subscribe.  So I'm taking the general viewer and narrowing them down to niche specific viewers and then again narrowing them down based on their want for the free offer which is specific to my industry.  I think by doing this I can get people with a real interest in future offerings.

Cost:
Content for Project: $450
Coding for Project: $500
Lead Generation Cost: $1000
Total $1950

Here in lies the problem.  The project sounds great.  Anyone would want 10,000 subscribers for their site especially if they are niche specific.  But is it worth $2000 and all the work it will take to get done?

Here in lies the question - Would you do this if it cost $2000?

I'd like to see what everyone has to say.  Also, subscibe below because no matter what I have a special offer coming for my members!