Hey guys,
I have two ideas for startups I'm thinking of building.
Idea One: The problem: firms often struggle with which copy to put on their websites. (Better copy significantly improves conversion rates.) If a firm has the infrastructure to run A/B tests, then that's great, but I thought of an independent solution.
This is my product: The customer/firm enters in two different phrases. They are loaded into my product's database. Workers from Amazon's Mechanical Turk service are then recruited and paid one or two cents in order to view a webpage and click on either of the two phrases, which are displayed on the webpage in a random way.
Customers are instructed to click, following a gut
reaction as to their preferred phrase. Measuring reaction time and click proportions would give some measure of users' preference and willingness to click/act on given text.
Customers would pay approximately $5/month + $1/campaign (or so). This could especially increase CTR on anything, like a craigslist job ad. If you pay $75 to post an ad, wouldn't an extra $3 be worth it to attract a few more applicants? Any ebay ad, sign, headline, etc? As the product matured we could collect even more detailed demographics, for better targeting and making the sample more representative of specific populations.
Idea Two: It's hard to come up with ideas for company names/domain names. A good company name/domain name will be better for a young business, because the product/etc will be more memorable - people will be more easily able to recall it. So, you give us a few different possible names, and we take a significant # of people in for a study and pitch them your company with the possible name combinations. A week later, we test them, and figure out which ones performed best with either cued/uncued recall. Rates per name test undetermined presently.
What do you think?
The best way to test something is to try it on people that actually want something and voluntarily are picking something and going towards a goal... and don't know they're being tested. The proof is in the pudding: if the copy works better than a control, it should produce a sale/signup/whatever.
Asking a bunch of people who are working for pennies if they want to buy some product that they have no clue about and are not in the market for, based on a copy they don't even understand well, is a waste of money and would even do you some damage since your customers might be more sophisticated.
Now, if you positioned it for simple, general websites, it might work better. But then again, those sites are not high paying customers.
PS: Look into Google Optimizer: http://www.google.com/websiteoptimizer