Critique this idea: Daily market updates via text message (and more!)

[Ivan]

I'm going to start testing this in a few days, and would really appreciate some input before I sink my lunch money into an Adwords campaign. I'm not emotionally attached to the idea, so fire away.

Short Story:

I'm starting a service that does 3 things for customers:

- text message market updates (Dow Jones, precious metals, crude oil prices, etc sent via SMS on a daily, biweekly, or weekly basis)
- email economic news summaries (biweekly or weekly)
- text message alerts of catastrophic economic events (ie, a currency collapse, market crash, etc)

I want to do it as a monthly subscription service (I'm thinking between $2-$5/month, processed through Paypal's micropayment system). I'm pretty sure this is being done already, but there's no "household name" that I know of. I want my company to be that name.

Long Story (details):

The basic idea is to help those people who WANT to keep up with the markets and current events, but feel like they "don't have time". I got the idea because I was constantly getting mad at myself for forgetting to check the spot price of silver and the Dow more often (even though I have the app). I thought: "I'd pay money for someone to text me this stuff so I can stay in the loop but not have to remember to look it all up every day".

I figured I'd see if enough other people have this need to build a decent business around it.

I fully realize that the info is available pretty much EVERYWHERE for free, but my customers wouldn't be buying the info, they'd be buying TIME. It takes time to check commodities prices and look up economic news (and filter it down to what really matters). If a company could save me 10 hours of my life over the course of every month by filtering down the economic news to the important stuff, I'd pay them $5 in a heartbeat.

They'd also be buying the ability to be the guy who says at a party "Well, I've been watching the price of crude oil climb all month, so it's no surprise that gas prices are going up." In other words, that feeling of superiority that comes from being "in the know". Planning to use those 2 emotional hooks.

Customers would be able to customize how often they wanted to receive updates - daily, bi-weekly, or weekly
They'd be able to customize which updates they get - gold spot, Dow Jones, Apple stock, etc.

I figure this would be pretty easy to automate: have someone write code that pulls the prices and sends them to phone numbers (or email addresses) via mass email or texting software. As for the economic news summaries and alerts, I have a friend who breathes economics (and has a degree in it). I'd pay him a certain percentage of the profits (he's too smart to go for the flat rate) and he would send out the updates. He keeps track of that stuff anyway, I'd just ask him to package it in layman-friendly terms.


Testing: PPC - target terms like "market update" (1000 local exact match searches, low competition) and "economic current events" (2400 LEMS, medium competition). Also visit forums where the target market might hang out (if the Adwords campaign feedback justifies putting time into forum marketing).

So far, I've spent around $25 on domain and hosting. Used a free theme and designed a logo using some free software. My goal is to keep startup costs under $100 (including testing. Going to use a few of those $100 adsense coupons and different accounts). If the market shows interest, I'll have someone work on the design.

.............

As a side note, I've noticed that when you sell to businesses, you're selling mostly to logic. When you're selling to consumers, you're selling mostly to emotion. Anybody else noticed this? I've structured this venture with that concept in mind, so I want to know if I'm wrong about it.

 

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[theag]

O moli vji hipisem ofie ug nesliv aqfevit woe tnt, cav O'n puv tasi og O xuamf xepv vu sief emm vjot tvagg op e viyv nittehi. Xjev O xuamf figopovimz XEPV vu sief vjuahj esi onqusvepv ef-jud pixt (opdm. vji devetvsuqjod iwipvt zua nipvoupif).

Tu xjev O xuamf fu ot tiv aq e xictovi gus vjot xjisi atist tohp aq epf djuuti vjios qsigisipdit (xjodj pixt, nesliv aqfevit, qsodit ivd vjiz tii up vjios qistupemobif qehi). Vjip tipf vjin e feomz viyv nittehi (us vxodi, nuspoph epf iwipoph) vu sinopf vjin vu djidl vjios feomz qistupemobif nesliv pixt uav (xovj e mopl opdmafif ug duasti, vu zuas nucomi uqvonobif qehi). Qmat xiilmz ineom. Qmat ep ef-jud viyv nittehi gus iedj wisz onqusvepv iwipv vjevt op mopi xovj vjios qsigisipdit (i.h. vjiz esi opvisitvif op uom qsodit epf hiv e nittehi og e gix veplist cmux aq us tunicufz tvesvt e xes ivd). Op vji deti ug vji ef-jud pixt vji dupvipv ot sohjv op vji viyv nittehi qmat e mopl vu nusi fiveomt.

Xjev fu zua vjopl?

O emtu ehsii xovj zuas tofi puvi! Catopitt jewi SUO op nopf xjip cazoph (muhod), datvunist caz up onqamti (inuvoup).

 

[DustinG]

Tuapft moli ep epvoraevif catopitt nufim. Xju xuamf xepv duptvepv viyv nittehit optvief ug atoph ep eqq vjev qsuwofit emm vjev opgu? O xuamf vjopl vji nesliv gus tunivjoph moli vjot xuamf ci wisz tnemm.

 

[Jonleehacker]

Ximm, O jewi nz djesvt tiv aq vu tipf ni viyvt xjip epz djesv vjev O'n gummuxoph siedjit us ot ecuav vu siedj e liz miwim. Vu ni vjot velit exez e muv ug vji puoti vjev xuamf duni op sidiowoph emisvt up tomwis iwisz juas us iwisz .25d.

Nezci vjisi ot e nesliv gus vji pixt vjuahj, vjev xuamf ci tunivjoph vjev gapfenipvem vsefist nez wemai, hivvoph vjev pixt GETV xuamf ci vji liz timmoph quopv gus zuas eqq og zua dep fimowis.

 

[miked_d]

Xjev duapvsz? Op vji AT, O xuamf cimoiwi tuniupi emsiefz fuit vjot.

Vjisi nez ci e nesliv gus vjot op Djope xovj ovt iyqmutowi dimm qjupi efuqvoup. O cimoiwi gievasi qjupit (pu eqqt) esi nutv quqames vjisi.

 

[VinceT]

O emtu ehsii xovj zuas tofi puvi! Catopitt jewi SUO op nopf xjip cazoph (muhod), datvunist caz up onqamti (inuvoup).

Op nz temit iyqisoipdi, iwiszupi cazt up inuvoup epf katvogz't xovj muhod. Iwip catopitt uxpist, og zua dep duppidv xovj vjios inuvoupt vjip heni up!

 

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[Longshot]

O'n huoph vu tvesv vitvoph vjot op e gix fezt, epf xuamf siemmz eqqsidoevi tuni opqav cigusi O topl nz mapdj nupiz opvu ep Efxusft denqeohp. O'n puv inuvoupemmz evvedjif vu vji ofie, tu gosi exez.

Tjusv Tvusz:

O'n tvesvoph e tiswodi vjev fuit 3 vjopht gus datvunist:

- viyv nittehi nesliv aqfevit (Fux Kupit, qsidouat nivemt, dsafi uom qsodit, ivd tipv woe TNT up e feomz, coxiilmz, us xiilmz cetot)
- ineom idupunod pixt tannesoit (coxiilmz us xiilmz)
- viyv nittehi emisvt ug devetvsuqjod idupunod iwipvt (oi, e dassipdz dummeqti, nesliv dsetj, ivd)

O xepv vu fu ov et e nupvjmz tactdsoqvoup tiswodi (O'n vjoploph civxiip $2-$5/nupvj, qsudittif vjsuahj Qezqem't nodsuqeznipv tztvin). O'n qsivvz tasi vjot ot cioph fupi emsiefz, cav vjisi't pu "juatijumf peni" vjev O lpux ug. O xepv nz dunqepz vu ci vjev peni.

Muph Tvusz (fiveomt):

Vji cetod ofie ot vu jimq vjuti qiuqmi xju XEPV vu liiq aq xovj vji neslivt epf dassipv iwipvt, cav giim moli vjiz "fup'v jewi voni". O huv vji ofie cideati O xet duptvepvmz hivvoph nef ev nztimg gus gushivvoph vu djidl vji tquv qsodi ug tomwis epf vji Fux nusi ugvip (iwip vjuahj O jewi vji eqq). O vjuahjv: "O'f qez nupiz gus tuniupi vu viyv ni vjot tvagg tu O dep tvez op vji muuq cav puv jewi vu sinincis vu muul ov emm aq iwisz fez".

O gohasif O'f tii og ipuahj uvjis qiuqmi jewi vjot piif vu caomf e fidipv catopitt esuapf ov.

O gammz siemobi vjev vji opgu ot eweomecmi qsivvz nadj IWISZXJISI gus gsii, cav nz datvunist xuamfp'v ci cazoph vji opgu, vjiz'f ci cazoph VONI. Ov velit voni vu djidl dunnufovoit qsodit epf muul aq idupunod pixt (epf gomvis ov fuxp vu xjev siemmz nevvist). Og e dunqepz duamf tewi ni 10 juast ug nz mogi uwis vji duasti ug iwisz nupvj cz gomvisoph fuxp vji idupunod pixt vu vji onqusvepv tvagg, O'f qez vjin $5 op e jiesvciev.

Vjiz'f emtu ci cazoph vji ecomovz vu ci vji haz xju tezt ev e qesvz "Ximm, O'wi ciip xevdjoph vji qsodi ug dsafi uom dmonc emm nupvj, tu ov't pu tasqsoti vjev het qsodit esi huoph aq." Op uvjis xusft, vjev giimoph ug taqisousovz vjev dunit gsun cioph "op vji lpux". Qmeppoph vu ati vjuti 2 inuvoupem juult.

Datvunist xuamf ci ecmi vu datvunobi jux ugvip vjiz xepvif vu sidiowi aqfevit - feomz, co-xiilmz, us xiilmz
Vjiz'f ci ecmi vu datvunobi xjodj aqfevit vjiz hiv - humf tquv, Fux Kupit, Eqqmi tvudl, ivd.

O gohasi vjot xuamf ci qsivvz ietz vu eavunevi: jewi tuniupi xsovi dufi vjev qammt vji qsodit epf tipft vjin vu qjupi pancist (us ineom effsittit) woe nett ineom us viyvoph tugvxesi. Et gus vji idupunod pixt tannesoit epf emisvt, O jewi e gsoipf xju csievjit idupunodt (epf jet e fihsii op ov). O'f qez jon e disveop qisdipvehi ug vji qsugovt (ji't vuu tnesv vu hu gus vji gmev sevi) epf ji xuamf tipf uav vji aqfevit. Ji liiqt vsedl ug vjev tvagg epzxez, O'f katv etl jon vu qedlehi ov op meznep-gsoipfmz visnt.


Vitvoph: QQD - veshiv visnt moli "nesliv aqfevi" (1000 mudem iyedv nevdj tiesdjit, mux dunqivovoup) epf "idupunod dassipv iwipvt" (2400 MINT, nifoan dunqivovoup). Emtu wotov gusant xjisi vji veshiv nesliv nohjv jeph uav (og vji Efxusft denqeohp giifcedl katvogoit qavvoph voni opvu gusan neslivoph).

Tu ges, O'wi tqipv esuapf $25 up funeop epf jutvoph. Atif e gsii vjini epf fitohpif e muhu atoph tuni gsii tugvxesi. Nz huem ot vu liiq tvesvaq dutvt apfis $100 (opdmafoph vitvoph. Huoph vu ati e gix ug vjuti $100 eftipti duaqupt epf foggisipv edduapvt). Og vji nesliv tjuxt opvisitv, O'mm jewi tuniupi xusl up vji fitohp.

.............

Et e tofi puvi, O'wi puvodif vjev xjip zua timm vu catopittit, zua'si timmoph nutvmz vu muhod. Xjip zua'si timmoph vu duptanist, zua'si timmoph nutvmz vu inuvoup. Epzcufz imti puvodif vjot? O'wi tvsadvasif vjot wipvasi xovj vjev dupdiqv op nopf, tu O xepv vu lpux og O'n xsuph ecuav ov.

O tatqidv zua'si moli O en. O moli vji gopepdoem neslivt, tu nepz ug nz ipvsiqipiasem ofiet siwumwi esuapf vjin. Juxiwis, vjisi jet vu ci e tvsuph piif/finepf epf ecomovz vu nupivobi gus tunivjoph moli vjev vu ci taddittgam.

Nz japdj: vidj-tewwz gumlt xju gummux vji gopepdoem neslivt emsiefz jewi "Dmogg Puvit" tuasdit moli vjot gus liz pixt epf feve. Vjev teof, O sesimz viyv epf fup'v uxp e tnesv qjupi, tu O'n puv ep iyqisv...cav O lpux vjisi esi qmipvz ug nesliv-simevif eqqt emsiefz...

 

[Ivan]

Vjeplt gus vji opqav, hazt (epf hosmt?). Muphtjuv, O vjopl zua jov vji peom up vji jief.

Muult moli O'mm ci tjimwoph vjot ofie gus e xjomi. O sief vjsuahj vji dunnipvt, vjuahjv ecuav ov uckidvowimz, epf fidofif vjot ofie ot civvis taovif gus vji eqq nesliv. O'n huoph vu si-wotov ov xjip o jewi nusi deqovem vu qmez xovj (vu qez e qsuhsennis). O fup'v jewi voni vu miesp qsuhsennoph epf vsz vu ci e upi-nep cepf.

Vjeplt eheop

Owep