Failed product idea validation? Need your thoughts!

Hey everyone! So I finally launched my product Landing page for Coinlectic and am currently doing a couple of ad campaigns on Reddit to see how many forms I can get.

And it looks like my product idea is failing... (But I hope you can tell me otherwise!). Let's get to the bottom is this.

What's Coinlectic?

It is a small browser extension helping numismatic auction participants create alerts for lots they want to follow. It's really specific and targets a very narrow audience :) It sends out simple notifications via your Browser or Google Calendar to warn coin collectors when they gotta go bid!

A little background first:

Prior to designing and building a landing page, I went on Reddit and started a couple of discussions where I gathered feedback on coin collectors' pain points.

Back then I got some traction among numismatics subreddits and tested 5 different pains. The "Lack of Auction Sales Visibility" stood as #2 on a "frequency" + "pain relevancy" scale.

In total, there were about 30 respondents, of which about 50% chose that as their main pain. So, that got me thinking – "Well, I better start articulating my features, create a landing page, and work on v1 of the product's UI." That's what I started doing. These poll results got me really excited, I thought I was onto something. Shortly after that, I had finished 90% of the UI + website. With the website design ready, I thought – "Heck, I should start building the actual product." 😎

I almost fell for this trap. But decided to hold off a bit, and took a leaner approach. So instead I launched my Coinlectic website (https://coinlectic.com) + started some marketing campaigns around it.

My main goal here was to see how many people would actually convert by signing up for my waitlist.

I launched a Reddit campaign and configured relevant audiences by targeting subreddits I've been engaging with before. And guess what? So far there are just two (2) conversions so far. With 240+ overall clicks to my website, it shocked me.

I've even launched a 2nd campaign which I configured for Reach and targeting specific Keywords. Still, it brings people to the website, but none convert!

Still, things don't look too shabby. 🧐

I don't understand the causes behind such poor results. There must be something wrong, but I can't figure it out yet... Design looks good, Ad design also looks good, easy clear CTAs, and straightforward cope, etc...

---What do you think is wrong with my campaign/product/idea?

✌️👀 I'd appreciate your feedback, fellow indie hackers!