Kill or develop?

[WiktorW]

Hi, I recently came up with an interesting business idea that meets the CENTS premise, and I needed a soft proof if my idea would appeal to the market mind. I conducted a survey in which about 60% of the respondents said they would be interested in my product. I wanted to further test the interest in my product by creating a landingpage and setting up Facebook ads. Unfortunately, after spending $45, I have no results. The problem is the low number of hits on the page - it was 10. The product is aimed at industries such as business, marketing, real estate agents, etc. I am wondering what I should do in this case. Should I keep trying with advertising on AdWords or LinkedIn, for example, or look for another product?

 

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[bray]

I do not know what your product is so I am not sure if it’s a good idea if you should kill it or develop it.

 

[fastlane_dad]

Hi, I recently came up with an interesting business idea that meets the CENTS premise, and I needed a soft proof if my idea would appeal to the market mind. I conducted a survey in which about 60% of the respondents said they would be interested in my product. I wanted to further test the interest in my product by creating a landingpage and setting up Facebook ads. Unfortunately, after spending $45, I have no results. The problem is the low number of hits on the page - it was 10. The product is aimed at industries such as business, marketing, real estate agents, etc. I am wondering what I should do in this case. Should I keep trying with advertising on AdWords or LinkedIn, for example, or look for another product?

What results were you looking for? Likes? Sales? Email Leads? Video Views?

10 hits is WAY too limited to gauge any potential market feedback - especially depending on what you are selling, and what you expect your conversions to be.

Additionally - your product must be priced high enough to make sure to include an advertising budget so you have room to experiment.

It's very hard to give any thorough advice based on the limited info you give, without knowing anything about your business including what you are selling, your landing page, and who you targeted (how do you even know you're reaching out to the correct demographic?). In general though you probably would want on the magnitude of 100s of hits before deciding which route to go.

You might need to try other routes of advertising as well - and any ways in which you can potentially market the product for a lower cost.

@NeoDialectic and I had this exact thought exercise spelled out in a post earlier. Check it out!

Good Luck!

 

[WiktorW]

What results were you looking for? Likes? Sales? Email Leads? Video Views?

10 hits is WAY too limited to gauge any potential market feedback - especially depending on what you are selling, and what you expect your conversions to be.

Additionally - your product must be priced high enough to make sure to include an advertising budget so you have room to experiment.

It's very hard to give any thorough advice based on the limited info you give, without knowing anything about your business including what you are selling, your landing page, and who you targeted (how do you even know you're reaching out to the correct demographic?). In general though you probably would want on the magnitude of 100s of hits before deciding which route to go.

You might need to try other routes of advertising as well - and any ways in which you can potentially market the product for a lower cost.

@NeoDialectic and I had this exact thought exercise spelled out in a post earlier. Check it out!

Good Luck!

Thank you very much for your reply, I have read your posts, they bring very much value and thank you for wanting to share your knowledge and advice with us. My product idea is: mastermind group creation platform. The way I am trying to find out if the market wants my product is to sign up for the newsletter to receive a 3-month trial period and information about the launch of the platform. So far I have advertised my product on fb ads and ad words and the results are not knocking me down :/ I am still trying to promote my product on LinkedIn because I think there I will be able to reach interested people more easily and it will be cheaper. At the moment (fb ads) it costs me about $2.5 to click a link from an ad and it costs me about $10 to sign up for a newsletter. At this point I still plan to mess with my ads, maybe different graphics or different headlines. If there aren't a lot of signups in the next 2-3 days, I'll probably give up on this idea and start looking for something else.

 

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[Roli]

Hi, I recently came up with an interesting business idea that meets the CENTS premise, and I needed a soft proof if my idea would appeal to the market mind. I conducted a survey in which about 60% of the respondents said they would be interested in my product. I wanted to further test the interest in my product by creating a landingpage and setting up Facebook ads. Unfortunately, after spending $45, I have no results. The problem is the low number of hits on the page - it was 10. The product is aimed at industries such as business, marketing, real estate agents, etc. I am wondering what I should do in this case. Should I keep trying with advertising on AdWords or LinkedIn, for example, or look for another product?

Check out @Andy Black's thread on Google ads, should help you.