How to Kill a Startup Idea with Google Keyword Planner and AdWords: A Case Study
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Re: How to Kill a Startup Idea with Google Keyword Planner and AdWords: A Case Study
#2This is very useful insight that I want to apply to my own planned side-projects (like 30-something domains registered as ideas...) Too often I've thought "that's a great idea" and then focused on the tech of implementation rather than the viability.
At that point it's just a hobby, or skill-sharpening exercise.
Regarding the example shown, I would think that "uber for" ideas (meaning facilitate a connection between service provider X with service need-er Y, take a commission on the transaction) sound as though possibilities are unlimited. However the reality may be that not everything can be disrupted in this way.
Re: How to Kill a Startup Idea with Google Keyword Planner and AdWords: A Case Study
#3So these guys have to read up on some articles about multisided marketplaces which what they were testing. Starting a matching platform between consumers and teachers is not a feasible plan because this is a longer term relationship and a platform is easily cut out. A platform like uber works because nobody has a regular cab driver. Supply and demand matching is also terrible for dog walking platforms. Don't spend time testing all kind of startup ideas with complicated technique when you don't know what multisided marketplaces are and network effects.
Re: How to Kill a Startup Idea with Google Keyword Planner and AdWords: A Case Study
#4@treblig any advice on usually how much percent increase you see once you move up funnel with fb advertising (optimize)? I'm guessing the cpc you got are based on bottom funnel and highly targeted hence the high cpc. I find really difficult to estimate costs with fb, because it takes me a fairly long time (1-month+) to build the content and ad strategy to lower costs. But I'm wondering at what point do you know if its a bad business idea vs bad ad strategy?
Re: How to Kill a Startup Idea with Google Keyword Planner and AdWords: A Case Study
#5A "startup studio" and a "venture capital fund" ???
no conflict there !!
Like, great, please send us your detailed startup plan and then come pitch and answer our questions, and then.... well, its not a good match and we pass 99% of the time, but hey, look at this back office studio we got going here, trying out new ideas we have never heard of before.
Re: How to Kill a Startup Idea with Google Keyword Planner and AdWords: A Case Study
#6Wow, didn't realize adwords and FB ads are so expensive. How do small businesses compete? are there any alternatives for those with smaller ad budgets?
Re: How to Kill a Startup Idea with Google Keyword Planner and AdWords: A Case Study
#7This is very useful insight that I want to apply to my own planned side-projects (like 30-something domains registered as ideas...) Too often I've thought "that's a great idea" and then focused on the tech of implementation rather than the viability. At that point it's just a hobby, or skill-sharpening exercise. Regarding the example shown, I would think that "uber for" ideas (meaning facilitate a connection between…
Reading this article and seeing these replies, I feel like a communist who accidentally walked into a Davos hotel lobby during WEF.
What about just making a website to connect learners and providers? This commission-taking, the Uber model, such effing rent-seeking.
I mean I also don't work for free, but things like "Uber-for-dog-walkers, but we'll fine you much money if you arrange dog walks outside of our service. Also we don't vet our walkers so they might kill your dog[1]."? Come back to reality please.
1) Top result when I google "dog walker kills dog" https://nypost.com/2019/12/01/embattled-dog-walking-app-wag-...
Re: How to Kill a Startup Idea with Google Keyword Planner and AdWords: A Case Study
#8Wow, didn't realize adwords and FB ads are so expensive. How do small businesses compete? are there any alternatives for those with smaller ad budgets?
From my experience with adwords/fb ads, this is not normal. The reason the cost is so high is because they're targeting ads to things like "bass" instead of "learn bass from scratch" in Sacramento, CA. The more specific you are, the less competition and the easier to target and win on keywords. The tough part is that being a strong force in the Sacramento, CA Bass market for new players from scratch is not a billion dollar idea.
Re: How to Kill a Startup Idea with Google Keyword Planner and AdWords: A Case Study
#9It's crazy how markets saturate quickly online. You really need a large marketing budget and/or network effect to triumph nowadays, product quality is not differentiating enough. I am scared for the future, this will inevitably lead in harder-to-break monopolies.
I worked for an entire year on a next-gen comparison engine (picked.cc if you want to check it out), and even with exciting user feedback and crazy conversion rates, it probably will never scale because of those reasons.
Re: How to Kill a Startup Idea with Google Keyword Planner and AdWords: A Case Study
#10I really liked their methodology. How can I learn more of it?