Five Days to Success with Google AdWords
– with Perry Marshall Day 4
The Fastest, Easiest Way to Test New Ideas
(And How To Not Go Bankrupt Launching a New Product)
I don’t know about you, but I’ve spent a lot of money in the past developing products and ideas that nobody wanted to buy.
What a horrendous waste – especially considering how many other ideas there are that people will spend money on!
If you understand how to use Google AdWords, you should never need to invest more than a few thousand dollars (worst case!) – pursuing an idea that won’t work.
Let’s say you’ve got a product idea. The product itself costs $50,000 to develop, and you’re sure it’s a good idea because it solves a really thorny problem.
So here’s what you do: You write a report, e-book or white paper about how to solve that problem. You create an opt-in page where people can get your report in exchange for their contact information.
Then you buy keywords, send people to that page and see how many people you can get to opt in.
That alone will tell you something.
And if you absolutely cannot get anybody to opt-in to your white paper – or if you can’t find keywords that anyone is searching for – then that’s a good sign you should abandon the project before you throw any more money at it.
When people do opt in, you can send them an email (or even call them on the phone) and ask them what they’re really looking for. If your report is any good, they’ll be happy to talk to you, and you’ll get LOTS of input about the kinds of problems they’re trying to solve.
It’s impossible to do this and not learn some major things that you did not know or anticipate.
Not only will this process validate that you’re solving a worthwhile problem; it will also fine-tune your efforts so that you’re dealing with the real problems that real people have!
It’s worth repeating: after testing your concept on Google AdWords, you’ll never throw good money at a lousy product idea. And when you need assistance or investment money, you’ll have proof that people are looking for what you have to sell.
Test Traffic First, THEN Build The Product
Let’s say you’re about to start manufacturing a $1,000 bicycle. You’re trying to decide whether to do the first production run of 100 units, which will cost you over $50,000. In ‘normal’ business thinking, you have to build the 100 bicycles before you start selling them.
That’s backwards. Sell the first one first.
Now… that may very well mean the first Bike actually costs you $5,000 to build by hand ‘cuz you’re selling prototypes. You’re taping $4,000 to every one that goes out the door.
Well that’s OK. You can take the web page down right away if it’s a hot seller. And remember, selling a few bikes at a several-thousand dollar loss is way cheaper than building 100 bikes nobody’s certain they can sell.
And there are many ways to test in Google AdWords.
- You can test on mobile users only (warning, be sure your ads are set up to be mobile friendly!)
- You can test in specific geographic areas before you spend more money rolling out to a larger audience.
- And much, much more.
The ability to test cheaply is one of AdWords great powers. Use it wisely.
Tomorrow’s tip is called:
Why the Most Important Success Ingredient Has Nothing to Do With Google
Talk to you then.