14 % conversion rate thanks to SEO & consulting to find product opportunities
One of the best sources of downloads for my Notion system for capturing product ideas is an article I wrote a while back.
Welcome to this week’s edition of What The Product, where I share actionable insights on building and growing products.
This week I’ve got 7 things to share with you:
Weekly update: getting to 14% conversion rate with SEO
Personal observation: consulting to find opportunities
Actionable insight: reposition the product & 8x your price
Resource: Massive comparison of payment providers
Resource: AI tool for keyword research
Reading this week: Creating online doesn’t have to be lonely
Listening to this week: Seth Godin on the Indie Hackers podcast
1. Weekly update
Building up my content marketing
I’ve spent the past few days building up SEO for What The Product. Over time this seems to be one of the most reliable channels.
One of the best sources of downloads for my Notion system for capturing product ideas is an article I wrote a while back.
In the past 30 days, it drove 35 unique visitors to my site and generated 5 template downloads. That’s a 14% conversion rate. You don’t get that with paid channels.
So I’m doubling down on content marketing.
I’m deep in keyword research, trying to identify long-tail keywords that are relevant to my audience.
I’ll write a guide on what I learned and share it with you.
2. Personal observation
Consulting as a way to find product opportunities
I like what Greg Isenberg is doing over at You Probably Need a Robot.
Going into companies, listening for problems, and identifying what can be improved with AI. It’s a great way to find product opportunities.
Identifying problems: being embedded in an organization makes it easier to recognize the challenges and inefficiencies within.
Understanding a new domain: if you are strong in tech, understanding a second domain will unlock opportunities you are uniquely positioned to address.
Validation: your consulting client can also be your first product customer.
3. Actionable insight
Repositioning your product allows you to 8x your price
I read a great piece from A Smart Bear on pricing and positioning. Here’s the gist of it:
Pricing is much more about positioning and perceived value than about cost-analysis.
The way you position your product can significantly influence the price your customers are willing to pay.
Customers have a paramount goal: Growth.
Increasing growth is much more valuable than decreasing cost.
Instead of positioning your product as a tool that helps spend less for the same amount of growth, position it as a tool that enables spending more to create more growth.
To illustrate, suppose a customer generates 200 quality sales leads per month from a $40,000/month spend.
If your fictitious lead generation tool can double the number of leads (to 400), at a cost of $200/lead, the customer may be willing to spend $80,000 to generate 400 leads.
The goal is not to save money but to generate more growth at a similar unit cost.
3. Resources
Payment Providers Comparison
This is a massive comparison of payment providers for all kinds of online businesses. From selling digital goods, through memberships to e-commerce.
You can compare how your current provider stacks up, and use this to pick a new one.
KeyWI - Using AI to find content opportunities
I’m testing out a new approach to keyword generation for my SEO efforts. It’s all thanks to this tool called KeyWi.
It analyzes your existing content, and the content of your competitors and suggest new content opportunities.
4. What I’ve been reading this week
📗 Creating online doesn't have to be lonely
A great Substack by Chao Lam on how MidJourney, an AI service that operates within a chat app, allows users to learn from each other in real time.
This process of watching, learning, and iterating upon others' work not only enhances the user's skills but also drives a sense of community and collective growth.
Chao suggests that integrating this model of social learning into the design of future online products could be a powerful strategy for user engagement and product distribution.
🎧 Indie Hackers Podcast interview with Seth Godin
The legend of online marketing has been on one of my favorite podcasts. He talks about finding business ideas, freelancing vs bootstrapping, and meaningful jobs.
5. Whenever you are ready
The User Interview Toolkit - helps you ask the right questions to uncover real insights.
The IdeaPad - a Notion system for capturing and ranking product ideas