I have spent a lot of money developing products, services and ideas that nobody wanted to buy.
A huge waste of resources, specially if we consider in how many other “bad” ideas the people continue and will continue developing and spending their money.
If you understand how to use google AdWords, never ever you will need to invest a huge amount of money, just a few dollars… in the worst cases just a couple of hundreds if you still insist in an idea that does not work.
If you have a product idea and the product developing costs around U$2.500 and you are sure that these product is a good idea and it solve a complex problem.
So now write a little electronic manual (it does not have to be extended) about whom to solve that problem. Create an opt-in web page (this is optative register) where people can get your manual free, just they have to share their contact information. Then just buy a few key words, write some ads, send people to that information webpage and look how many people register to get that report.
Now, if nobody registers in that page… sincerely it is a great sign to abandon the project or reformulate it completely, before to spent more money. But when people register, you can communicate with them and ask for what they are looking for. This can give you a great feedback!
This process will help you to validate if the problem that you are trying to solve is relevant to the consumers, or in the worst case it will allow you to see which problems are most important to them.
Another application for AdWords. Market Investigation.
Just buy a few key words, write two ads (one for every key word). After one week or a month you will have 5.000 clicks that they would have cost you no more than U$750.
Now you will have information about your consumers: what they really made in relation of your proposals.
Just better and cheaper than a market investigation made by a company “specialized” in that area.
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