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Old 06-25-2012, 06:02 PM   #16
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Re: A new project I am working on (feedback please)

Hey! I've seen your name around betapunch and betali.st a lot recently. Congrats on getting out there and building. I really like your recent pivot with this. Quick question: would the entire site be able to see statistics on what others are willing to pay or would the product owner be the only one able to see those stats. Keep up the good work man!
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Old 06-25-2012, 06:40 PM   #17
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Re: A new project I am working on (feedback please)

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Originally Posted by wompwompwomp View Post
Hey! I've seen your name around betapunch and betali.st a lot recently. Congrats on getting out there and building. I really like your recent pivot with this. Quick question: would the entire site be able to see statistics on what others are willing to pay or would the product owner be the only one able to see those stats. Keep up the good work man!
Considering offering this feature to privatize the stats but for now everyone will be able to see the results of each pricing campaign. Here is what the stats will look like on a campaign page:



I am also re-branding and just bought a new domain called: http://getpriced.co. I will be switching a lot of the content around obviously for everything to coincide with this new branding.
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Old 06-25-2012, 06:54 PM   #18
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Re: A new project I am working on (feedback please)

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The problem with this sort of goes back to the traditional reasons startups fail; they hear from everybody around them that its a great idea and that they would use it, but then they dont actually buy it. The problem is that somebody saying they would pay $X is nowhere near the same value as somebody actually paying $X.

It also ignores the market that the startup is entering which has a huge impact on pricing. If I am entering a market full of old, clunky, expensive enterprise software then I will probably price mine significantly cheaper than the alternatives, but a prospective client would base their price on what others charge. While you may get a few people at a high price, to compete with established brands and actually build a business you typically need to resegment the market by establishing an entirely new price point. The opposite of this also holds true if you are building something uniquely valuable when compared to the market. Think about it, if Apple were to ask what people would pay for a Mp3 player before debuting their first iPod, nobody would have said anywhere near what Apple actually charged because everything they could compare it to was barely functional.

In my opinion this sort of targets "old school" startups that dont want to fully commit to a lean methodology. The best way to get pricing data is to throw something functional [even minimally so] and see what people actually pay for it. The business needs to set a price point, get people to pay it and then adjust from verifiable data. The underlying reason why you see this as important is correct; getting pricing right is crucial to success in most businesses. I just think there is a fundamental problem with this approach in that it doesnt generate reliable, actionable data.
This is really great feedback, and offers a completely different perspective. It's something I honestly really didn't think about. Obviously there is way more value to actually having a customer pay for a product vs. saying they would pay for it.

But for startups I think there is a market for this. Web based services in a "launch page" stage might be able to add something like this to their landing page and use it go gauge interest on pricing for their service.

You hear all the time about startups putting up MVPs that lead to broken "pay now" links but I have never actually seen them in real life. I would think for people who actually set up these MVPs it could be a valuable tool in which to collect pricing data.
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Old 06-26-2012, 03:45 AM   #19
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Re: A new project I am working on (feedback please)

You guys seem to be hung up on the idea that businesses go into business blindly and then hope that whatever they are selling, someone will buy. That's just not true, never has been, and never will be. Internet startups are no exception.

Secondly, just because someone tweets that they will buy your X for $100, it's still pretty useless info unless you capture their credit card. It's the lowest form of communication, very unreliable, and I doubt that even a fraction of those people will even remember that X weeks ago they said they would buy your product for $100.

If I was starting another business, I would do real surveys, talk to potential customers, and possibly do a focus group, instead of spending a massive amount of my time trying to promote a viral campaign to figure out what my non-existing product might sell for. I don't see how this could be useful without very large numbers - and very large samples are not easy to get. Might as well figure out my margins and post on Kickstarter at a price that turns a profit and let it sink or swim that way.

If you keep plugging away at this, I'm sure some people will use it. But I think you should pivot into some other angle... not sure where... I really do think you're onto something with this project... I feel like you have a foundation for something big here, but it's not where it needs to be.
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Old 06-26-2012, 09:50 AM   #20
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Re: A new project I am working on (feedback please)

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Originally Posted by dc_publius View Post
You guys seem to be hung up on the idea that businesses go into business blindly and then hope that whatever they are selling, someone will buy. That's just not true, never has been, and never will be. Internet startups are no exception.

Secondly, just because someone tweets that they will buy your X for $100, it's still pretty useless info unless you capture their credit card. It's the lowest form of communication, very unreliable, and I doubt that even a fraction of those people will even remember that X weeks ago they said they would buy your product for $100.

If I was starting another business, I would do real surveys, talk to potential customers, and possibly do a focus group, instead of spending a massive amount of my time trying to promote a viral campaign to figure out what my non-existing product might sell for. I don't see how this could be useful without very large numbers - and very large samples are not easy to get. Might as well figure out my margins and post on Kickstarter at a price that turns a profit and let it sink or swim that way.

If you keep plugging away at this, I'm sure some people will use it. But I think you should pivot into some other angle... not sure where... I really do think you're onto something with this project... I feel like you have a foundation for something big here, but it's not where it needs to be.
Thanks for your feedback. I understand that tweeting about what someone would pay for X might not hold a lot of weight. But at the same token, I don't really see how organizing a focus group or handing out surveys would be any better. To me, this would be a ton of work that many people just wouldn't have time for. Especially for someone who works a full-time job and wants to build a startup on the side, they need an easy way to test the waters for not just a product but also a service they are considering to offer.

With GetPriced I am trying to take advantage of a powerful communication medium in Twitter where the possibilities for results is truly immense. I believe a large sample of results is much easier to get via twitter than organizing a focus group where I might be able to recruit 20 people (friends and family) to participate (if i am lucky). Of course, advice from your friends and family is going to be biased and give off the wrong impressions.

And even if I get 20 random people to be involved in my focus group, that is entirely too small of a sample size anyway. It will be a waste of time to have to sit down and interpret their thoughts and answers.

The more I think about it, the more I am starting to see this type of widget go alongside a launch page of some kind. Think about for an iphone app that is still in the development stage.

I set up a page for my own BetaPunch widget as an example. Once the GetPriced widget is released I will actually be able to place it on my own site to start gathering more results from people who visit my site. I would appreciate it if people could send a couple tweets from the page so I can test my analytics charts. I don't care if you put $0, it won't hurt my feelings.

I completely understand the value and power of Kickstarter. I know there is way more value to selling out a kickstarter campaign versus some people tweeting what they "would" pay for a product or service.

There are few points where this idea holds some ground:

1. Simplicity of creating a pricing campaign

2. Plugging the widget into your own website

3. Viral reach via twitter

4. Analytics
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Old 06-27-2012, 10:38 AM   #21
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Re: A new project I am working on (feedback please)

I just created a campaign for the .Co Domain company. I would appreciate it if 2+2ers would help me test it out by tweeting a price from the campaign page.

Or if you have something you want to charge for could you please test out the process of creating your own campaign?

I would really appreciate it.
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