Is this enough validation to release a product? (Feedback Needed)
I recently made a post on Reddit about an SMS texting tool that allows you to text it describing the food you are eating throughout the day, and it tracks your calories for you to help you stay in a calorie deficit.
(https://www.reddit.com/r/caloriecount/comments/12kr3u7/sms_texting_tool_that_allows_you_to_text_it/)
The post has 50 upvotes in r/caloriecount and 56 upvotes on r/fitmeals with a lot of positive responses.
I edited the post and added a Google form for people to fill out to validate my idea.
The result is that in 2 days, 18 people have filled out the form, and most are willing to pay around $6/mo-8/mo for the premium plan of the product.
My initial goal was to get at least 50 people to fill out the form and show interest before I release it but I am curious to see if this validation is enough or if I should keep waiting to see if 50 people will fill it out within 2 weeks.
Will appreciate some feedback. Thank you
I would get early sign ups via payments and see how many people are ready to pay.
Hey,
Based on the feedback you've received so far, with 18 people willing to pay around $6-8/mo for the premium plan, it's a promising sign that there is demand for your product. However, it's important to keep in mind that 18 responses may not be statistically significant enough to make a conclusive decision.
I would recommend continuing to promote your product and gather more feedback and data from potential customers. Keep monitoring the response rate and engagement over the next couple of weeks to see if you can reach your initial goal of 50 responses. This will provide you with a larger sample size and a more accurate picture of the potential market demand for your product.
In the meantime, you could also consider reaching out to some of the respondents who expressed interest in your product and explore further conversations with them to understand their needs and preferences in more detail. You could also do early signups to check if they would actually pay or it's just verbal agreement and then take feedback of the product and take their feedbacks for promotions and improvements.
This could help you refine your product offering and pricing strategy based on real customer feedback.
How long would it take to build the product? If less than a few weeks, it seems worth it to me!
Let's see if those people are willing to put their money where their mouth is. I'm not super confident that they will because talk is cheap, but my sense is that spending a week or two to find out is fine. Maybe you get 10 users out of that. From there, keep hustling to see if you could get to 100.
Well, actually I'm not sure. You'd need a good customer acquisition strategy. Given the upvote to filled-out-your-survey ratio, it doesn't seem like super node websites will do the trick.
It's possible that online ads would work. For that you typically want revenue per user to be at least $100. Hopefully more so that you have healthy profit margins. For you it seems a little borderline. Ideally it'd be something that spreads via word of mouth. Which seems at least plausible to happen. So I think it's reasonable to pursue this.
It's good to see people are interested. But just try to get a few more signups before you build it. That would make things simpler and less pressure when you start building product.
It's half way validated, verbal promise isn't enough, you need to get people to put their card details in to really test whether it worth paying for. Build a super minimal mvp, something that will take you a week tops. And then get people to pay for early access. You've done great work up until now. Keep us updated, all the best