Hey everybody I've been inactive from IH for a while but I want to share an idea I've been playing around with. Well it's actually more of a strategy and its definitely probably not new.
The idea is to take the principles of keyword research (I'll link to a good video on that at the end) to find things that either get searched a lot or that have high cost per click (or both). By doing this you get a pretty solid gage of the commercial value of an idea.
The best example I can think of is looking at keywords that contain "calculator", and examining which ones have either high search volume or high cpc. If you have one with high volume it means there is clearly demand for it. If you find that one has a high volume and high CPC. It probably means that there is not only demand for but that it could potentially be profitable since a company is willing to pay that much for a single click for the person looking for it.
Once you've done your research and have the business model fleshed out (that's profitable - you may even be able to reverse engineer one from some of the advertisers) , the next step would be to build an mvp of it and get some traffic going to it to test it. The quickest way to do that is probably through facebook or google ads. (you could do seo but if it's a competitive keyword it's going to take a looong time) to see any traffic from that. Then boom you have a validated and tested profitable side project. Or not. At the very least you have something that people are somewhat interested in!
But yeah thats the theory I'm working with. I'm using it to launch a job board soon so I'll keep yall posted on that. And I'm using Ahrefs for keyword research! (thanks
@timsoulo ) But I'm curious. Has anyone tried this approach and had any results with it? Let me know what yall think.
And here's the video I promised (its from Ahrefs): https://www.youtube.com/watch?v=x5IJ0APR0EQ&list=PLvJ_dXFSpd2u5JCtiYWfvnSvAkoPwg5VY&index=2&t=318s