So, at this point I think there is no sense in waiting for some miracle. 120 people visited my site, and no one became a user, even though my application is free. What options do I have? Should I just forget this story? Is there anything else?
It's an app for memorizing educational texts in two steps - tagging keywords and then trying to fill in them after 'publishing' test.
As entrepreneurs, we get paid to solve people's problems. If you choose to "Just forget this story" without understanding why it looks like your company is off-market then you'll miss out in a learning opportunity.
You've got to solve TWO problems: 1) create value and 2) distribute the value
So at this point, it's hard to answer your question without understanding what value your service offers. If the issue is that your product doesn't create any value then, if possible, modify the product until it does. Value = Perceived benefits - Price. Since your price is free then the problem is in the perceived benefits. May be you're not explaining the product well enough.
So first, ask yourself if your product creates genuine value for users. If it does then the problem is that you're not distributing the value correctly: wrong target market, marketing message off-mark, wrong distribution channel... Distributing value is a hard problem to solve.
So, my advice would be to figure out if a) the product has a market but you're not reaching the market correctly, in which case get a biz dev person involved, or b) the product as-is doesn't solve a problem, in which case you can either evolve the current product or start over with a new product. If the latter turns out to be the course to take then I hope that as least you'll have learned to build products that solve problems and if you learn that then you'll be ahead of many people.
You've done an experiment, called "will people use my app if they visit my website?"
If 10% of people had signed up, you'd feel you've learned something. Because they didn't, it's painful to realize that your experiment wasn't designed to create knowledge for you.
The problem is, you've mixed up the idea of a problem, the way you tell the story on a website, the description of an app that's meant to solve the problem, and the act of signing up. You know it didn't all work, but you have gained zero insight into whether any part of that had value.
That's the bad news. Time for the good news.
Go build a website whose only job is to find out if people want to memorize educational texts. If the next 120 visitors drive on by, do something else. But if ten of them act in a way that suggests they'd value help, you could be onto something.
Good luck. You made a mistake, and you've reacted to that just the right way - to grit your teeth, and show it to people who can help. Not help you to feel better, but help you to learn, and move on.
You're already ahead of all those startups who fear failure. Learn, and step out again.
Do you know why they don't want your product?
What do they want?
How far away is your product from what they want?
Can you make some modifications to make it something they want?
Have you done the right market research and targeted the right clients?
Don't give up just pivot a little.
That is nonsense!
It's almost impossible to claim that there isn't a market for your product.
I would recommend starting to get feedback on why or why not people use it. Products evolve like everything else, with constant feedback you can grow the product to somewhere between your original vision and people's wants/needs.
Without knowing who those 120 people are, it is impossible to judge if your product is on target or not. Assuming you saw a problem in the marketplace first, then developed a solution (your product), you data suggests that the 120 visitors you are looking at were simply the wrong people.
Who is your product intended for? High Schoolers? College kids? Professionals?
Having the right audience is key. Identify who your target users/buyers are, find a handful of them to sit down with your product and "play" with it, then ask them for real feedback.
If you believe that the 120 visitors were the right people, then your immediate problem is your website, not your app.