Questions

I developed a MVP and we launched 5 months ago. Only 4 usd/day in adwords Should I keep trying or close it and try another idea? (see details)

Around 200 leads. Only 7 users paying around 10 usd in a monthly basis.

3answers

Ad words is not marketing. It is just the beginning..

Web marketing includes SEO, SMM, ads, facebook marketing, twitter marketing, youtube, limkedin..etc. besides, it is more important to get engaged to people.

Interaction in blogs, forums , discussions..

You may also think of having sales people to work with you, do some tele marketing, have promotion codes..

Depending in your target market, you may need to have printed ads on magazines, flyers, newspapers..etc or even radio or tv ads...

You need to know where your customers and go to them.. Either online or offline..

Besides, you need to work on branding and also on showing how differentiated you are from the comparatives. Or if no comparatives, then show you have a solution that doesnlt exist.

The 200 leads you reached, you need to talk to them and have their feedback.. Give them trials ..etc.

Most people think they will make a million $ sales after making the MVP which doesnt happen. The effort you need to do on marketing and sales is even more than what you did till you reached your MVP.

For a 10$ thing, you need at least to reach 20000 leads , before thinking of takin anything down. Coz till now, you dodnt reach your customers.

It is time to start :)

I'll be there to help...
Good Luck!!!!


Answered 6 years ago

You should definitely not rely on Adwords to give you an indication as to how viable of a business this will be. You'll need to test a handful of different marketing channels and determine ways to look for early indicators of success. This includes defining specific goals and making sure you understand the metrics that you'll need to hit at each point in your funnel to achieve the revenue goals you're after.

It sounds like you're also early-stage enough that you should also be doing some price sensitivity testing, iterating on your MVP based on early customer feedback, and doing plenty of user testing to ensure strong product adoption and a smooth onboarding and usage experience.

Happy to give you some more pointers if you'd like to discuss in greater depth. Best of luck!


Answered 6 years ago

Thanks for your question.

I've spent years initially testing new businesses using Google Adwords and have a good understanding of what we should be looking for, and what happens next.

I think its awesome that you're only spending $4 a day with your test, and actually learning, so tell me more about what we are tracking.

So we have acquired 200 leads, and of those 7 have paid up. What do we know about the others? What information have they given us. Do we know if they come back to the site to look around? Are we engaging them in any other ways?

For $4 a day we can do lots and lots of things to figure out if this channel works, or indeed if our MVP is the right one to go with.

What I love about Adwords more than any other channel is the speed at which we can learn about our users. Are we talking to those 7 paying users yet?

Your question has inspired me to ask many more questions, but I'm hopeful answering all of this, and more, should allow you to squeeze out every last drop of value from this test, before doing anything else. And there is lots of other things we can start testing too, but first up, lets go really deep in to our Adwords test.

I can help you understand your data if you need, and get down all of the other items I mentioned in to a logical actionable work plan so you can make progress really quickly. Give me a shout if you need to. Best of luck.


Answered 6 years ago

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