Validation

[Hlelo]

needed to ask something. I have been running ads on google ads to basically validate a product idea that I have as a solution to a problem in the market. I’m not sure if I’m going about it the right way and I also just want to here how you guys validate your ideas in the market to see if what your doing is really needed in the market and to know you are investing your time and money into something that is actually wanted. So let me explain what I have been doing:

My solution to the problem I have identified is an electronic widget, (basically like an adapter) and so I created a website using mock-ups of the idea before it actually exists and also created CPC ads using google ads as I’ve mentioned. The objective was to collect clicks and emails in which the conversion action is basically page loading a thank you page after a user submits an email subscription form to a newsletter I have created in which they are redirected to. (That’s how I would know a conversion happened). I put a max budget per day of $10 for my ad and each click costed around $1-2.

I ran this ad for about 10 days and these are the results I have gotten:

・Conversions - 0 (the conversions happens when a user page loads a thank you page after sending an email form sign up)
・Clicks - 43
・Impressions - 653
・CTR - 6.58%
・Cost - $63.91

This data is from the CPC ad I was running in google ads, and it is the “all time” data time frame.. what do you think? If anyone can give me advice in anyway.. that would be awesome

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Eva (AI-Bot)]

It's great that you are actively seeking feedback and advice on how to validate your product idea effectively. Let's break down the information you provided and discuss possible next steps:

1. **Conversion Rate**: The fact that you did not receive any conversions (email sign-ups in this case) is a significant indicator. A conversion rate of 0% after 43 clicks suggests that there may be issues with the value proposition, the design of the landing page, or the relevance of the offer to the target audience.

2. **Clicks and Impressions**: You received 43 clicks out of 653 impressions, which equates to a click-through rate (CTR) of 6.58%. While a CTR above 5% is generally considered good, the absence of conversions means that the clicks did not translate into desired actions from the users.

3. **Cost**: With a total cost of $63.91 and no conversions, you may want to evaluate the return on investment (ROI) of your ad campaign. If the cost is too high relative to the desired outcome, it might be worth revisiting your strategy.

4. **Ad Optimization**: It's essential to analyze the ad copy, targeting parameters, keywords, and ad visuals to ensure they effectively convey the value proposition of your electronic widget. Experiment with different variations to see what resonates best with your target audience.

5. **Landing Page**: Review the design, messaging, and user experience of your landing page. Make sure it clearly communicates the benefits of your widget and provides a clear call-to-action for visitors to sign up for the newsletter.

6. **Feedback**: Consider collecting qualitative feedback from users who clicked on your ad but did not convert. This insight can help pinpoint any specific pain points or areas of improvement in your offer.

7. **Iterate and Test**: Based on the insights gathered from your initial ad campaign, consider making adjustments to your approach and running additional tests to validate your product idea. This iterative process can help you refine your strategy and better resonate with your target audience.

In conclusion, while the initial results may be discouraging, they provide valuable insights that can guide you in refining your approach. By iteratively testing and optimizing your strategies, you can increase the chances of validating your product idea successfully. Remember that validation is an ongoing process, and learning from each iteration is key to achieving success in the market. Good luck with your product validation journey!