How to Validate Demand for Your Product – Part 2
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How to Validate Demand for Your Product – Part 2
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Re: How to Validate Demand for Your Product – Part 2
#2This isn't validating demand or even a business model, it's just "Get to the front page of HN". And if 15,863 people visited your site and only 13 registered your conversion rate is 0.08% not 1.8%.
Re: How to Validate Demand for Your Product – Part 2
#3Can somebody clarify, is he validating the demand for his product by actually selling it? What if it's not profitable and you have to pull out I.e. only subscribes 2 students ?
Re: How to Validate Demand for Your Product – Part 2
#4Can somebody clarify, is he validating the demand for his product by actually selling it? What if it's not profitable and you have to pull out I.e. only subscribes 2 students ?
I can chime in here :)
I'm validating demand for the course before actually recording lectures. If only 1 or 2 students signed up and subsequent tests failed I would have refunded them their money. But so far it looks good so I'm planning on recording courses in late January.
You can learn more about the course here -- upupgrow.com
Re: How to Validate Demand for Your Product – Part 2
#5Can somebody clarify, is he validating the demand for his product by actually selling it? What if it's not profitable and you have to pull out I.e. only subscribes 2 students ?
I can chime in here :) I'm validating demand for the course before actually recording lectures. If only 1 or 2 students signed up and subsequent tests failed I would have refunded them their money. But so far it looks good so I'm planning on recording courses in late January. You can learn more about the course here -- upupgrow.com
Thanks
Re: How to Validate Demand for Your Product – Part 2
#6Earlier quoted context omitted.
I can chime in here :) I'm validating demand for the course before actually recording lectures. If only 1 or 2 students signed up and subsequent tests failed I would have refunded them their money. But so far it looks good so I'm planning on recording courses in late January. You can learn more about the course here -- upupgrow.com
Thanks
No problem! Happy to answer any other questions.
Re: How to Validate Demand for Your Product – Part 2
#7This isn't validating demand or even a business model, it's just "Get to the front page of HN". And if 15,863 people visited your site and only 13 registered your conversion rate is 0.08% not 1.8%.
That's certainly one way of looking at it.
I calculate conversion rate based on the number of people that hit the course page. That's industry standard. My goal was to test how many people that read about my course signed up. The blog post drives traffic to the home page, but I don't count blog readers if they don't hit the home page because that wouldn't be testing the right metric.
Conversion rates vary by business. A media company tracks the number of readers that click an ad. A mobile app tracks the number of visitors to the home page and download the app. This was the metric I picked to see if people were interested.
Re: How to Validate Demand for Your Product – Part 2
#8This isn't validating demand or even a business model, it's just "Get to the front page of HN". And if 15,863 people visited your site and only 13 registered your conversion rate is 0.08% not 1.8%.
That's certainly one way of looking at it. I calculate conversion rate based on the number of people that hit the course page. That's industry standard. My goal was to test how many people that read about my course signed up. The blog post drives traffic to the home page, but I don't count blog readers if they don't hit the home page because that wouldn't be testing the right metric. Conversion rates vary by business…
Don't those companies have established business models they are simply repeating at a profitable level?
I think all you have shown is HN is a source of extremely ineffective marketing for that idea. Your "what's next" seems premature too because HN can't get you "10x more traffic" and even a 10x better conversion will still be barely 1 registration per thousand visitors.
Tomorrow your old front page posts will send you almost no traffic, or ever again, so where is the business model let alone the validation? Still in the testing part, imho. $900 up but no closer to sustainable.
Re: How to Validate Demand for Your Product – Part 2
#9This is just shilling for a marketing course, using the same technique (sell vaporware, build it out if there's interest) that it describes at tedious length.
Re: How to Validate Demand for Your Product – Part 2
#10So I have a side project that was created as 2 businesses paid $3k a piece for me to create it. They also agreed up front that once delivered they would pay a monthly fee.
I am about ready to release it to general public. But my main tactic to gain customers was to leverage the initial customers to help market and sell to their network. As they are well known in their niche this is working well. As we have real world data on how it has improved their operational efficiency. So far have 10 more people awaiting on boarding.
Long story short find people who have a problem they are willing to pay money to solve right now. I do this by having varied hobbies and traveling to partake in them.