However, while bidding $1,000 on every keyword and ranking #1 for every relevant search sounds nice in theory, most businesses have to play a balancing game between ranking higher and paying too much for clicks. After all, if it costs $17.56 to rank in position #1, but you can only afford to pay $5.00 per click, bidding $1,000 on a keyword to guarantee yourself the #1 position would be a great way to bid yourself out of business.
If you've never been on Product Hunt before, it's like a daily Reddit feed for new products. Products get submitted to the community and they're voted on. Each day products are stacked in descending order based on how many votes they've had. Ranking at the top of the daily list can result in thousands of conversion-focused traffic to your site, just as the creator of Nomad List found out.
Remember when you used to rely solely on search engines for traffic? Remember when you worked on SEO and lived and died by your placement in Google? Were you #1? Assured success. Well, okay, maybe not assured. Success only came if the keywords were relevant to your site users, but it was the only real roadmap to generating site traffic and revenue.