Hard & Fast Rules to Confidently Do a Quick Market Validation

cobblepot

cobblepot

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What are the some hard & fast rules to confidently do a quick market validation?

For example
  • Some people typically run a PPC ad traffic to a landing page and use some rough metrics to estimate demand.
  • Another common trick might be simply do a keyword research using terms related to the the product, software or the problems the crowd is having and then sort of use a certain number to determine if its worth pursuing.
  • Third one am aware of is simply typing related terms on Google Trends to determine activity as regards it and also know exactly which GEOS are exactly hyper about it. (that doesnt say too much to me)

Giving that my product is say $20 should you be typically looking @ 100,000 search volume?
how about when the product is $600 ?

Am curious how everyone does it,

How Would You Solve This 4 Exercises?
Gut Feeling Hypothesis 1 "Internet Marketers are typically basement dwellers who SIT DOWN a lot, how about i sell em some branded ergonomic chairs as a magic pill to bad backs?" (before i put up a site have it manufactured & all)

Gut Feeling Hypothesis 2 "XXX Commercial industries is very hazard prone so they will need cut resistant gloves at the very least for compliance" you might be familiar with your own profit per unit sale but how do you estimate a turnover per month range?

Gut Feeling Hypothesis 3 "A SaaS platform for tracking crypto currency price alerts as an example"
how estimate how many people will pay? what they will pay?

You See A Potential Competitor "Company X is already doing a product or service that you are interested in taking a go at for another GEO" do you try to guage adwords spend? organic traffic? how do you easily guage what the operation is worth in your geo?

Seems like i got enough for everyone
 
Last edited by a moderator:
Throw up a site, run PPC ads to it.

Make the site be the best you can, without too much money or time. It can be 1 pager

Pick the best keywords you can, so you don't have waste

Spend enough money so there is no question the data you have is the right data.

Lead people to a checkout page, when they get ready to put in their CC.. tell them "oh no's we ran out". Keep them on an email list though for later

Test out different pricing while doing this, to gauge response to pricing

See what response you get for the whole shebang

??

Profit by getting the product made/sourced or Pivot to new idea




Also, you could run a trial on Kickstarter or ProductHunt and also gauge response.



There are no hard and fast rules. Every industry is different and unique.

If there were hard and fast rules, we'd all be billionaires by now, right?

.
 
depends.. is it s $10 product with 1 kw?

You might only need $100 spent.

Is it a $1200 product with 26 keywords, 4 adgroups, and 12 ads total?

You're looking at $10k at the min and that's not really enough.
 
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