4 ms·

An honest question. How do you gauge demand? Do you go to different forums and ask. Local mixers etc?

benzor 8y ago
You could try A/B testing the demand for 2 different products / websites with Facebook ads. You'll need: - A small amount of money for the ad campaign itself (e.g. $50-$100) - A compelling image (buy a stock photo, or get a graphic designer to whip something up) - Some compelling copy (one liner for your pitch) - Some time spent tuning the ad targeting to focus on your target market (or your best guess of who those people are) I know Facebook isn't exactly popular on HN right now, but I suggest them because their ad targeting is probably the most precise at the moment.
claudiulodro 8y ago
Basically yeah. You're on the right track. It will depend on your product. Here are three example methods I have personally used: e.g. If you're starting a consultancy/dev shop, do you have people already trying to get you to do work for them or complaining to you about difficulties finding good freelancers? If so, there is clear demand for your specific services. e.g. One of my most successful side projects was a web browser for the Roku that I developed after reading a bunch of people complaining there was no web browser in the Roku forums. The browser went on to get over 500k active installs (there are ~10mm active Roku devices). e.g. Another popular way to do it that works great for local businesses (or SEO-based businesses like OP's Keto business) is to use the Google keyword research tool and see what sort of traffic your keywords get and how much people are paying for clicks on those keywords. If it costs a lot to buy search ads, the niche is likely too competitive.
- pragmatic 8y ago
  Were you able to monetize the Roku browser?
  - claudiulodro 8y ago
    Not really (just like $40 in donations from a donation button on the site). Releasing it for free captured basically the whole market, but I had no real way to capitalize on those users. That was my big learning lesson with that project. In retrospect, I should have probably used it solely to get user data like Google does with Chrome and then done something useful with that data, but this was before I realized that (somewhat shady) business model.
- soulnothing 8y ago
  The problem I have is assigning monetary value to it. Or how much is it worth to another person. For one of my ideas, I shared a prototype at local group events. A lot of people liked it, but again not sure the valuation. I've learned the hardest part of a project. Is the one you've not been exposed too. While working on a startup idea. I'm hitting a lot of roadblocks on sales / marketing etc. When I did consulting/freelancing, that was easier. I know how much a project is worth, the value provided etc.

You could try A/B testing the demand for 2 different products / websites with Facebook ads. You'll need: - A small amount of money for the ad campaign itself (e.g. $50-$100) - A compelling image (buy a stock photo, or get a graphic designer to whip something up) - Some compelling copy (one liner for your pitch) - Some time spent tuning the ad targeting to focus on your target market (or your best guess of who those people are) I know Facebook isn't exactly popular on HN right now, but I suggest them because their ad targeting is probably the most precise at the moment.

claudiulodro 8y ago

Basically yeah. You're on the right track. It will depend on your product. Here are three example methods I have personally used: e.g. If you're starting a consultancy/dev shop, do you have people already trying to get you to do work for them or complaining to you about difficulties finding good freelancers? If so, there is clear demand for your specific services. e.g. One of my most successful side projects was a web browser for the Roku that I developed after reading a bunch of people complaining there was no web browser in the Roku forums. The browser went on to get over 500k active installs (there are ~10mm active Roku devices). e.g. Another popular way to do it that works great for local businesses (or SEO-based businesses like OP's Keto business) is to use the Google keyword research tool and see what sort of traffic your keywords get and how much people are paying for clicks on those keywords. If it costs a lot to buy search ads, the niche is likely too competitive.

pragmatic 8y ago
Were you able to monetize the Roku browser?
- claudiulodro 8y ago
  Not really (just like $40 in donations from a donation button on the site). Releasing it for free captured basically the whole market, but I had no real way to capitalize on those users. That was my big learning lesson with that project. In retrospect, I should have probably used it solely to get user data like Google does with Chrome and then done something useful with that data, but this was before I realized that (somewhat shady) business model.
soulnothing 8y ago
The problem I have is assigning monetary value to it. Or how much is it worth to another person. For one of my ideas, I shared a prototype at local group events. A lot of people liked it, but again not sure the valuation. I've learned the hardest part of a project. Is the one you've not been exposed too. While working on a startup idea. I'm hitting a lot of roadblocks on sales / marketing etc. When I did consulting/freelancing, that was easier. I know how much a project is worth, the value provided etc.