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Welcome to another episode of Growth Bites. Today we’re going to talk about how you can validate your new idea for a company that you think will be a big hit.
- The reality is, your friends will always support you and you’ll always think your idea is great, so the question is how do you really validate your idea? [01:29]
- Run Facebook ads to your target demographic to see if the interest is there. With $50, you can run some ads to a landing page with tools like LaunchRock and Unbounce. [01:40]
- Run traffic and try to collect emails to see if people are interested. [02:35]
- Better yet, get people to put in their credit card information to show more of a commitment from their side. [02:38]
- If you’re doing keyword research with AdWords, you can figure out if there is search volume for your specific niche. [02:55]
- If it’s a brand new category, you’ll have to run Facebook ads because Google search is about satisfying demand rather than demand generation. [03:17]
- Survey your email list to see if they’d be interested in your specific product idea to gauge the overall sentiment. [03:33]
- Validation from your friends won’t mean much, you need to have feedback from people who are potential customers. [04:02]
- If you have a blog or a website, you can use QualaRoo which will pop up questions in the bottom right hand corner of your website. [04:14]
- If your product isn’t completely new, look for competitors. If there are competitors, your idea is already validated. But rather than creating a “me too” product, you need to create something that’s outstandingly better than your competition. [04:28]
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