Originally Posted by dc_publius
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.
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