How to Check Product Health - Article 1
How to research product potential
Product potential can be analyzed with 3 key factors:
value proposition
competitive advantage
business model
For value proposition, try to understand what’s the key feature that provides the most value to users.
For competitive advantage, find the differences in similar products. This can be the novelty of an idea or a cheaper price.
For business model, research how the project is monetized, how do the revenue streams work. If this is not a public information, ask their community about it.
How to research product usage
Product usage can be analyzed with 5 key factors:
brand demand
trading volume
total value locked
token price
unique active wallets
To research brand demand, you will need access to SEO tools like Ahrefs. The idea is to research product name as a keyword. High search volume per month indicates a top of the funnel demand.
To research trading volume and price you can use these services:
Data on unique active wallets is harder to come by, use these services:
How to research product monetization
Product monetization can be broken down into 4 key factors:
Fees
Revenue
Treasury
Price
How to research product roadmap
Examining a crypto project's roadmap can be boiled down to 4 key elements:
Clarity of Goals
Milestone Achievements
Timeline
Technical Feasibility
To assess the clarity of goals, you need to dive deep into the project's whitepaper and official announcements. A clear, precise roadmap will include specific objectives and development plans. If these are vague or too broad, it could be a warning sign.
Timeliness is crucial in a roadmap. Projects that consistently meet their deadlines reflect positively on the project's reliability. Again, using platforms like CoinMarketCal will help track whether a project is meeting its deadlines.
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