If you caught my last video, you'll remember I talked about the weekend's keyword research that led to some insightful findings about our primary product's demand. Turns out, there was more to learn, which pushed us to revisit some of our priorities.
Our initial plan was to refocus on our AI product, which had taken a backseat, while continuing our support for Pop Invoice to cater to our amazing existing customers. However, that plan was open to change because new opportunities emerged during our follow-up research.
Revisiting Our Strategy
I decided to take another look at the keyword research, but this time, I widened our lens. Imagine asking, "What if we expanded our invoicing product's scope?" I pitted the market for invoicing against our AI offering, expecting clear results for one over the other. But surprisingly, the demand was neck and neck! The search traffic was similar, and the market's monthly spend was on par for both products.
This got me thinking—why not test both avenues? Each product comes with unique strengths and challenges, and now, we have an opportunity to explore them without rushing into commitments. Market demand seems level, but the real test is in market fit and user response.
Taking the Next Step: Testing Before Building
We've learned from past experiences that jumping straight into development without thorough market testing often leads to missed opportunities. So here's what we're going to do: rather than deciding on a singular focus, let's test both products comprehensively. We'll create new landing pages, generate engaging content, and explore a few promising channels for distribution. The goal is to learn which product garners more user interest and adapts better to varied value propositions.
Testing will involve tracking the audience's behaviour and preferences as they interact with our website and ads. By observing which product receives more traffic and leads, we'll be better positioned to tailor our strategies. This approach allows us to iterate and adjust swiftly, minimising the time and effort spent on building features that might not resonate with users.
Learning from Experience
It's a classic entrepreneurial misstep: building for the sake of building without solid evidence of demand. Many founders, including me, have been through this cycle—even after gaining some success. It's a lesson we're determined not to repeat.
So, there's the plan. We're back to square one, testing the waters for both our AI and invoicing solutions and focusing heavily on distribution before jumping into extensive development work. This approach not only helps in understanding user needs but also accelerates our journey towards a product with genuine growth potential.
Until the next update!
Farez
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