This is the third article about Phassive – a passive income project. I will work on reaching $10K/mo passive income while documenting my journey. If you are here for the first time, you might want to check THIS blog entry first.
My resolution is helping others to complete their resolutions.
Over the weekend, I have released a small personal project based on one of my new year resolutions:
-to build a free service that will help the community
The project called “Finish Resolutions!” helps others to finish their new year resolutions by putting money on the line. If they fail to complete it, they lose the money. If they succeed, they get the money back + bonus (paid from failed goals).
The project is a non-profit; there are no plans to develop it further. At the end of January, deposits will not be accepted anymore.
Just a fun side project that was developed in my free time.
I have tested a niche marketing strategy to get some attention to the product itself, and I have got amazing results! I have reached #1 Product Hunt for a day.
All this with the spice of outside of the box marketing.
The concept of “finish goal or pay” is not unique. Multiple services have this business model – Stickk, GFDI, Beeminder – to name the few.
The difference between them and FR! is that my project is non-profit, and it is just a seasonal one. I have built it for three reasons:
-get my resolution completed
-help others while building a brand
-test new marketing strategies
When it comes to marketing strategies, I am a total nerd – I love marketing, especially non-linear, out of the box one. Creating a campaign overnight to send thousands of visitors to a project of mine is surprisingly satisfying for some reason.
An old strategy that lazy won’t do.
With FR! I have tried to utilize small communities to get the results you would expect from a single large one.
The issue with large communities (most of the time) is that they receive a lot of spam and are heavily moderated.
If you post a link to your project, it can be removed/rejected right away.
While building your marketing strategy based on large communities is smart, using small and fragmented groups can often be even better.
The method was simple – find a few dozens of tiny groups on Facebook/Telegram/Skype. Join them beforehand and build some recognition (give something to the community before taking back). On the launch day send posts to all groups informing that you have released the product. Don’t ask for upvotes, don’t ask for any kind of interaction. Don’t be intrusive – just something along the “Hi! This weekend I completed Finish Resolutions! – a service, where you lose money if you fail to complete tasks, but you earn bonuses for resolutions completed. Any feedback?”
I have posted similar messages across all the groups (17). I have written a unique message for each group so that I won’t trigger a spam recognition algorithm that will weaken my visibility.
Altogether, this took around 5 hours (including researching groups, being active on them, and then finally, asking to check my project out).
On the launch day, it got FR! to 100 upvotes really quickly. This way almost instantly, I’ve got #1 spot, which gave me momentum to stay there for the rest of the day.
This was 5 hours well spent.
I like to compare the results to CPC and check how this would translate to paid hours.
To buy advertising and drive people to my PH page and vote, I would probably need 1,000 targeted visitors. At $0,5 CPC, that’s $500 spent (+ the risk, that there will be not enough people that could be targeted within a few hours window).
My 5 hours spent translates to $100/hour + pretty much-guaranteed results (which is invaluable).
I call it a good investment.
As of now, I have 613 upvotes, 70 more than the next product, and 300 more than the 3rd. For typical Wednesday (one of the three most active days besides Tuesday and Thursday), I think the day was kind of slow. But still, I have received a lot of traffic from it:
FR! received so far 1,533 visitors and counting (it’s 3rd day, I am getting 5-10 visitors an hour now – I expect around 500 more visitors by the end of the week).
During the launch day, I have received 1,000 visitors.
Being #1 on Product Hunt means that you will be featured on the official Twitter account of PH. This gives you another bump of 300 visitors. And then natural organic visitors of 200 more next day from the ProductHunt site.
There were additionally close to 50 visitors from aggregates, and associated sites.
Stats are misleading, though. There was more significant traffic. I have noticed that a huge chunk of visitors is unaccounted for (probably due to the adblockers installed).
Cloudflare stats show:
But again, I think they are way too optimistic (I assume they count some of the scrapers/bots as well).
I think the right number lies somewhere between them. I estimate that there were around 2,000 visitors in the last three days (I came up with this number by comparing GA, CF, and server data).
As of activity – 114 unique visitors got to the end of resolution form submission (6 steps). It means that 5,7% of people completed it.
19 people finished the deposit (0,95%). The low payment rate was to be expected due to the unorthodox way of how FR! works (and because our payment processor is PayPal, which is not popular in this kind of service). I think for typical service/product, 2% for the visitor-to-paid ratio should be expected with PH traffic (all depends on niche and execution though).
Tips for the launch
Here are a few things I would make sure are present when launching on PH:
-have an animated gif as a product logo. Out of top5, I was the only one utilizing it – this is an obvious advantage. I have used a simple web animator and created a super simple gif with logo animation. Nothing too flashy, but not to lazy either.
-create a catchy phrase – there are only 60 characters, so use it wisely. Using generic description will hurt your results.
-be a human. You have the right to the first comment on PH. Be real, be human. Write how it is, don’t try to sell anything blatantly. Don’s speak the corporate language. People are often visiting PH as a part of their relax time. Make them feel comfortable.
I think this was a good launch. I could cross off one of my many resolutions off my list.
I have managed to test the power of micro-communities and confirm that they still work amazingly (they require you to be “aged” member, 1-week minimum).
I have helped 19 people to start their resolutions, and I’ve collected $2,740 in just two days. While FR! is non-profit, it is still a significant figure for one small campaign!
This launch is vital for motivation. This is my 3rd launch on ProductHunt. For each launch, I have used a different marketing strategy, and yet all of them had outstanding results. It means that in the future, I can combine them to do a massive launch of a product I desire to succeed. It’s reassuring that so many lesser-known methods are virtually untouched by others.
I will keep launching, testing, and reporting!
See you in a week or two!