Step by Step Guide to MVP Part 3 – Data Driven Decisions

Part 3 – Making your first data driven decision

Given what you have discovered so far in your experiment, what’s your next step in investing in your MVP and this idea? Because it’s easy to spend reach cash on advertising it’s important to have a thesis on why you’re investing in this idea.

What I’ve outlined in the following section are tasks that you can continue to develop and learn about what your potential customers are searching for on the web and how you can stand in the path of their search to monetize your startup idea.

  1. SEOYoast Setup
    1. Google Search Console Setup, also known as Webmaster Central  
      1. Authentication – this process is dependent on your Domain Name Provider
      2. Use this tool to test your content for Readability and SEO. It will score your post and give you tips of what you should improve.
  2. Google adwords initial review – Hit Pause
    1. What did you think?
    2. What did you learn?What are you going to do about it?
  3. Quality Score – my average quality score on starting keywords was a 2/10 or 3/10. After doing the items listed below, I was able to get them to a 5 or 7.
    1. Start at Google for where to start – here. This includes a live chat channel, by the way. Quality is based on three factors:
      1. Data Relevance – how does the ad map to the website for content?  
      2. Landing Page Experience – this is more about the speed of the landing page vs. the content of the landing page
    2. Performance Testing – I used the free 14 day trial of Pingdom to test speed.

venturereadymodels_ads_-_http___www_venturereadymodels_com_building-financial-models

  1. Click through rate – this will have to change over time – but as it improves, your costs for those keywords are likely to go down.
    1. Matching
      1. Broad Match
      2. Exact Match
      3. Phrase Match – I shifted all of my adwords to Phrase Match which caused the quality score to start over
    2. Duplicate keywords
      1. You don’t need to list a plural “s,” e.g. “model” vs. “models” will show as a duplicate key word
  2. Outcome: I need to work on Landing Page Experience more – improve the speed and on page experience.
    1. For speed, I’m working through these 19 things.
    2. For experience, I’m using A/B testing tools and looking for plugins.
  1. Restart the broader keyword search and try the campaign again. Remember, testing keyword spend is always good for Google. So unless you want to feel like you went to Las Vegas and walked away with nothing, you should plan on micromanaging the process for now.
    1. Bounce Rates – here’s what you need to know
      1. Startup with Search only and avoid Display ads. For me, at least, the display ads only created a huge bounce rate
  2. At this point, you could either buy traffic at reasonable economics or not. Time for another decision – do you keep pushing ahead with this idea?
    1. Google will calculate your Average CPM or Cost per Thousand – (M represents the Roman Numeral for 1,000. I know, couldn’t they have referenced something from a digital decade?)
      1. This CPM rate will help you understand other advertising alternatives like Facebook ads or Display Ads for blogscampaign_management_-_google_adwords
    2. Have more cash to spend on Google? You can spend it there.
      1. Ad Groups – what did you learn about categories of adwords that aren’t directly tied to your core campaign? In this specific example, I learned there were two different groups that I need to follow up on at a later time:campaign_management_-_google_adwords
        1. Cap Tables
        2. Valuations
        3. You can use the “Get keyword ideas” tool to understand the traffic and potential costs.
  3. Take some time to build out SEO traffic through building content. This is going to take time, so block out an hour, three mornings a week to write unique content.
    1. Write more content and get those pages indexed – by the way, you will always be writing more content
      1. If you are unsure of the content as main website or Page content use Posts (blog posts) to test the content.
      2. Use your keywords in the Titles (H1s) and top paragraph, but write it to be read by a person not a machine
  4. AppSumo is installed. Start using these tools to test building your email list. More on this later, there are a lot of features here.

Leave a Reply

Your email address will not be published. Required fields are marked *