Does this product have potential or should I scrap it?

6 replies
I set this project aside a few months ago to work on other things.
Now I am back at it and I am looking for some guidence.
This will be my first product ever, and I would like your opinions as to whether or not this product has potential to generate some income.

If so, could you make reccomendations?

www.thedefaultsystem.com
Thanks!
#potential #product #scrap
  • Profile picture of the author TiffLee
    Originally Posted by pseudonymble View Post

    I set this project aside a few months ago to work on other things.
    Now I am back at it and I am looking for some guidence.
    This will be my first product ever, and I would like your opinions as to whether or not this product has potential to generate some income.

    If so, could you make reccomendations?

    www.thedefaultsystem.com
    Thanks!
    I would argue that it is in a decent niche -- lots of desperate students in need of help getting their loans paid off.

    However, one has to wonder, if a student $80,000 in debt is going to spend $39 on a product that may or may not work?

    Because of that, I'd advise that you spruce up your copy -- it is kind of bland as it is -- and REALLY pull at the emotional strings of these potential customers/students. Like I mentioned, this is a niche full of desperate people, so by completely reeling them in from an emotional aspect, I can foresee you making some decent sales.

    If I were you, I'd head on over to the Copywriting Forum and get some advice on how to take sales text to the next level.
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    • Profile picture of the author Canuckystan
      There is a worry about liability if you are encouraging folks to default given the severe consequences of doing so. The Feds also have a free ebook on student loan defaults and what to do if you can't pay - tough to compete with free.
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    • Profile picture of the author pseudonymble
      Originally Posted by TiffLee View Post

      I would argue that it is in a decent niche -- lots of desperate students in need of help getting their loans paid off.

      However, once has to wonder, if a student $80,000 in debt is going to spend $39 on a product that may or may not work?

      Because of that, I'd advise that you spruce up your copy -- it is kind of bland as it is -- and REALLY pull at the emotional strings of these potential customers/students. Like I mentioned, this is a niche full of desperate people, so by completely reeling them in from an emotional aspect, I can foresee you making some decent sales.

      If I were you, I'd head on over to the Copywriting Forum and get some advice on how to take sales text to the next level.
      I have been speaking with someone on reqriting the copy. That seems like a no brainer. I also have been talking with another warrior on SEO.
      Just getting back in to it now though
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  • Profile picture of the author WebRank1
    It does if it will make good on the promises.
    The copy needs to be rewritten and personalized. You are talking about you now, when you should be talking about your prospect.
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  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by pseudonymble View Post

    If so, could you make reccomendations?
    It's obviously a very big and viable niche.

    Clearly the copy needs a lot of attention, as you've acknowledged.

    Specifically, my own guess (actually "strong hunch" might be a better description) is that you seriously need some legal advice before going live with the sort of wording that's on that sales page at the moment. Especially in the current regulatory climate. No criticism implied at all. Just a suggestion. And don't expect a copywriter to give legal advice: that would be very unwise indeed.
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  • Profile picture of the author Tsnyder
    Just to put another vote in... the niche is fine... the
    copy is problematic. You take a long time to get to
    anything that really matters to the consumer. Nobody
    cares that you thought of a way to make more money.

    I also wouldn't use this statement:

    "Collection agencies buy loans for pennies, pretending to be either
    the federal government or the Department of Education?"

    I simply don't believe it's true. Not the part about buying
    loans for pennies on the dollar. I know that's true. I don't
    believe they are "pretending" to be something they aren't.
    I know what you're trying to get at but you haven't explained
    it correctly.

    Finally... I agree 100% with Alexa for the need to have the
    copy vetted by legal advisors who have expertise in this area.
    You make several statements that border on, or cross the line
    into, giving legal advice... you have no disclaimers.

    This site isn't ready to be viewed by the general public.

    Tsnyder
    Signature
    If you knew what I know you'd be doing what I do...
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