Hi everyone,
I have an idea for a physical product and am in the process of assessing need/doing market validation. Many versions of this product exist already and the TAM is about 50-100 million people, however there is a problem customers have (and that I had myself) that none of the existing options solve.
My idea (if executed correctly) would solve this problem and also be an improvement over existing alternatives. Currently I'm trying to gauge how common this problem is to determine whether the idea is worth taking further. So far I have:
1) Is 30-50 instances of people complaining about a problem online out of a TAM of 50-100 million a relevant number or is it way too few?
2) I'm thinking of creating a sales page with a mockup image of the product and directing paid traffic to it - people could click to order but it would say "Sold Out" or "Coming Soon". Does anyone have thoughts on the utility or effectiveness of this strategy?
3) Any further advice or recommendations for assessing demand / need?
Thanks!
I have an idea for a physical product and am in the process of assessing need/doing market validation. Many versions of this product exist already and the TAM is about 50-100 million people, however there is a problem customers have (and that I had myself) that none of the existing options solve.
My idea (if executed correctly) would solve this problem and also be an improvement over existing alternatives. Currently I'm trying to gauge how common this problem is to determine whether the idea is worth taking further. So far I have:
- Asked ~5 people I know in person about this idea, they all think it's good
- Found ~30 instances online of people complaining about the problem my product would solve (and several asking for the specific solution I would provide)
- Found ~15 instances online of people complaining about a problem that looks like (but is not for certain) the problem my product would solve
- Went to the store where existing products are sold and spoke with 2 employees about this problem, but this didn't yield much useful information. I'm planning to do this again.
1) Is 30-50 instances of people complaining about a problem online out of a TAM of 50-100 million a relevant number or is it way too few?
2) I'm thinking of creating a sales page with a mockup image of the product and directing paid traffic to it - people could click to order but it would say "Sold Out" or "Coming Soon". Does anyone have thoughts on the utility or effectiveness of this strategy?
3) Any further advice or recommendations for assessing demand / need?
Thanks!
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