Market Test Your Ideas

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Test the demand for your product ideas for under $25 dollars.

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  • We all have ideas tossing around in our heads, but will these ideas realize into a viable business with paying customers?
  • Ideas are cheap! Anyone can come up with a great idea.
  • Supply & demand comes into effect, how do I know if there is demand for my idea (whether it be a product or service or whatever).
  • Supply & demand comes into effect, how do I know if there is demand for my idea (whether it be a product or service or whatever).
  • So, you might be asking yourself, what do I do?
  • You need to market test your idea for demand – gain feedback! Look for signals. By market testing our ideas, we can gain valuable feedback as to whether we should further purse these ideas. Experiment!
  • You can do this for under $25 dollars – and what is that equal? A date night at the movies? A tank of gas?
  • You can do this for under $25 dollars – and what is that? A date night at the movies? A tank of gas?
  • You can do this for under $25 dollars – and what is that? A date night at the movies? A tank of gas?
  • You can do this for under $25 dollars – and what is that? A date night at the movies? A tank of gas?
  • Don’t be afraid to suck
  • So, here is the plan. We need to get our ideas out onto the web to test them. How do we do that? By following the plan above.
  • You want to explore all the ways to frame your idea. Think of the benefits it would provide. Think of the different ways to phrase your offering. Think of how people will be searching for your solution. What problem is your solution solving?
  • Powerpoint 2007 is a powerful tool to prototype your idea. You can mockup a site in minutes and get it ready for feedback. I’ve booked markedlanding pages to get a “feel” for what is common in landing page design. Visit my Site brandonmcnamara.com
  • Powerpoint 2007 is a powerful tool to prototype your idea. You can mockup a site in minutes and get it ready for feedback. I’ve booked markedlanding pages to get a “feel” for what is common in landing page design. Visit my Site brandonmcnamara.com
  • Here is an example of a mock up of a site.
  • Here is an example of a mock up of a site.
  • I purchased ubisqus.com – don’t stress yourself over the name for too long. This can delay time to test your domain name. Also, purchase a plan as you see fit – there are varying plans, but I opted to do the full year to reuse my website domain as a testing platform.
  • I purchased ubisqus.com – don’t stress yourself over the name for too long. This can delay time to test your domain name. Also, purchase a plan as you see fit – there are varying plans, but I opted to do the full year to reuse my website domain as a testing platform.
  • Most of us aren’t web developers, and we need a quick and easy way to get our ideas up in running in under an hour. Snappages allows us to do this. There are other websites out there that can accomplish this, such as Website 1, Website 2, Website 3. But for this example, we’ll use Snapppages.
  • We can get this functionality for $8 a month.
  • Our total is now $20
  • First implementation of the website. Snappages isn’t the most versitle tool, but it gets the job done to get something up to test. Used a copy of a slide saved as a .JPG as my landing home page. I then uploaded it as a Image, and then placed a button action that takes you to a “sign up” page, which is also located on the navigation bar. Unfortunately, you are constrained by the “Theme” within Snappages and you can’t alter the navigation bars location (or I may not know how).
  • Added a Features and Sign Up. For this iteration, I tried to include four features. Each feature will have a benefit statement. I wasn’t sure if I should add the side text that explains the benefits, but I did anyways. I’ve read in some places that you should just focus on features, then allow your customers to interact with your product. Once you are able to survey your customers you can then get a better idea of the benefits received.
  • The sign up button (which navigates you in the same location as the sign up link in the navigation bar) is located “below the fold”. I’m not happy about this, but couldn’t find a way to reduce the margins at the top of the body to allow for the sign up button to show up before the fold.
  • This is the Powerpoint slide saved “as” a JPG. This is where you could iterate. Ideally you’d be able to include some interactivity to the “features” since they look like buttons.
  • Powerpoint Slide saved as an image
  • Optimization would allow you to test these two pages to see which one has a better conversion rate. Currently, the feature is not available in Snappages. Hint..hint…
  • Sign Up – What is the call to action? Would I have a higher conversion rate if I had the sign up form displayed? Need to iterate.Text says, “We are currently developing ________. In you’d like to be made aware when _______ is available for testing, please sign up below. We are developing _________ by the Lean Startup Methodology. “Contact: brandon [dot] mcnamara [at] gmail
  • How will we pull in “customer” to our website? Google Adwords.
  • $5/day budget – Will it be enough to drive traffic? Have I selected
  • This is my first iteration for my ad. You’ll need to practice with the character limits, but the goal is to create a compelling ad to drive traffic to your website.
  • This is my second iteration for my ad. These suck, but you get the idea, iterate. Try things out.
  • This is my third iteration for my ad. Will people want this? Not sure, but I’m experimenting.
  • Test, iterate, try things, experiment – see what works, what doesn’t work.
  • Test, iterate, try things, experiment – see what works, what doesn’t work.
  • Keywords – The search words typed in a google search box
  • Clicks – The number of people whose attention you’ve captured – these are “signals”
  • Impressions – How many times your ad has been “displayed” in a search result
  • Click Thru Rate – The number of Clicks / Impressions
  • It costs $5 to start, but you can pre-pay additional funds. I do $40.
  • We’ll track and measure our progress with Google Analytics – it’s FREE!
  • Powerpoint Slide copied as an image
  • Bounce Rate, Avg Time on Site, Visits, Page Views,
  • Set up goals to track conversions: landing page, features, sign up,
  • Set up goals to track conversions: landing page, features, sign up,
  • Conversions (e.g. people signing up) are signals. Listen to your signals.
  • Market Test Your Ideas

    1. 1. Market Test Your Ideas<br />The $25 dollar plan<br />(or feedback for the cost of a tank of gas)<br />Brandon McNamara<br />Twitter: @Brandon McNamara<br />February 2010<br />BrandonMcNamara.com<br />
    2. 2. “I want to build a website that allows people to share old books”<br />“My idea: people want to create things with other people of similar interest.”<br />“I just know people will want to use my service!”<br />“My website would be like Twitter but for older adults”<br />BrandonMcNamara.com<br />
    3. 3. IDEAS ARE ABUNDENT IN SUPPLY<br />BrandonMcNamara.com<br />
    4. 4. BUT…<br />BrandonMcNamara.com<br />
    5. 5. IS THERE DEMAND?<br />BrandonMcNamara.com<br />
    6. 6. “So, what does this mean?”<br />BrandonMcNamara.com<br />
    7. 7. Ideas can be “tested”<br />BrandonMcNamara.com<br />
    8. 8. MARKET TEST YOUR IDEAS<br />BrandonMcNamara.com<br />NEED<br />
    9. 9. For $25 dollars<br />BrandonMcNamara.com<br />
    10. 10. Who needs to do this?<br />BrandonMcNamara.com<br />
    11. 11. Anyone who is thinking of building/designing/creating something<br />BrandonMcNamara.com<br />
    12. 12. Examples of Use<br />BrandonMcNamara.com<br />Starting new pizza restaurant<br />Writing a new book on career advice<br />New online sandal store<br />Starting Your Own Niche Non-Profit<br />Creating new game for toddlers<br />
    13. 13. REMEMBER:<br />Failure = Feedback. <br />Without failure learning is impossible<br />BrandonMcNamara.com<br />
    14. 14. So, how do I get started?<br />BrandonMcNamara.com<br />
    15. 15. Quick&Dirty Plan<br />Write the “Solution” Down<br />Protoype Site / Idea in Powerpoint<br />Purchase custom domain<br />Open Snappages account<br />Build minimum site to get idea across<br />Start Adword campaign<br />Include Google Analytics<br />Track, Measure, and Iterate<br />BrandonMcNamara.com<br />
    16. 16. Solution that solves a problem<br />BrandonMcNamara.com<br />
    17. 17. PowerPoint = Rapid Prototype<br />BrandonMcNamara.com<br />
    18. 18. Examples of landing pages<br />BrandonMcNamara.com<br />
    19. 19. COPILOT<br />Features<br />Sign In<br />About Us<br />Test Pilot Your Ideas<br />Quickly create landing pages<br />Sign Up<br />A/B test pages<br />Use Custom Domains<br />Track the relevant metrics<br />BrandonMcNamara.com<br />
    20. 20. COPILOT<br />Features<br />Sign In<br />About Us<br />Test Pilot Your Ideas<br />Quickly create landing pages<br />Sign Up<br />A/B test pages<br />Use Custom Domains<br />Track the relevant metrics<br />BrandonMcNamara.com<br />
    21. 21. Next, Purchase Custom Domain<br />BrandonMcNamara.com<br />
    22. 22. Purchased<br />Ubisqus.com<br />$12 Year Domain<br />BrandonMcNamara.com<br />
    23. 23. Total<br />GoDaddy.Com Domain $12<br />Total $12<br />BrandonMcNamara.com<br />
    24. 24. Next, Set up Snap Pages<br />BrandonMcNamara.com<br />
    25. 25. BrandonMcNamara.com<br />
    26. 26. $8 dollars a month<br />BrandonMcNamara.com<br />
    27. 27. Total<br />GoDaddy.Com Domain $12<br />Snappages.com Pro Account $8<br />Total $20<br />BrandonMcNamara.com<br />
    28. 28. So far, not bad, right?<br />BrandonMcNamara.com<br />
    29. 29. Now, on to more details<br />BrandonMcNamara.com<br />
    30. 30. BrandonMcNamara.com<br />
    31. 31. BrandonMcNamara.com<br />
    32. 32. BrandonMcNamara.com<br />
    33. 33. BrandonMcNamara.com<br />
    34. 34. BrandonMcNamara.com<br />
    35. 35. VS<br />BrandonMcNamara.com<br />
    36. 36. Google Form<br />BrandonMcNamara.com<br />
    37. 37. Place holder for Google Form<br />BrandonMcNamara.com<br />
    38. 38. FREE!&#%!$<br />(Free is great)<br />BrandonMcNamara.com<br />
    39. 39. Total<br />GoDaddy.Com Domain $12<br />Snappages.com Pro Account $8<br />Google Form FREE<br />Total $20<br />BrandonMcNamara.com<br />
    40. 40. Protoype Site / Idea in Powerpoint<br />Purchase custom domain<br />Open Snappages account<br />Build minimum site to get idea across<br />Start Adword campaign<br />Include Google Analytics<br />Track, Measure, and Iterate<br />BrandonMcNamara.com<br />Quick&Dirty Plan<br />
    41. 41. BrandonMcNamara.com<br />
    42. 42. Drive “Customers” to your website<br />BrandonMcNamara.com<br />
    43. 43. $5.00/day budget<br />BrandonMcNamara.com<br />
    44. 44. FIRST ITERATION<br />BrandonMcNamara.com<br />
    45. 45. SECOND ITERATION<br />BrandonMcNamara.com<br />
    46. 46. THIRD ITERATION<br />BrandonMcNamara.com<br />
    47. 47. SEE ANY PATTERN?<br />BrandonMcNamara.com<br />
    48. 48. ITERATE<br />BrandonMcNamara.com<br />
    49. 49. Keywords<br />BrandonMcNamara.com<br />
    50. 50. Clicks<br />BrandonMcNamara.com<br />
    51. 51. Impressions<br />BrandonMcNamara.com<br />
    52. 52. Click Thru Rate<br />BrandonMcNamara.com<br />
    53. 53. $5 Total Start up Cost<br />(I pre-paid $40 dollars…)<br />BrandonMcNamara.com<br />
    54. 54. Total<br />GoDaddy.Com Domain $12<br />Snappages.com Pro Account $8<br />Google Form FREE<br />Google AdWords $5<br />Total $25<br />BrandonMcNamara.com<br />
    55. 55. Track & Measure<br />BrandonMcNamara.com<br />
    56. 56. Started AdWords Campaign<br />BrandonMcNamara.com<br />
    57. 57. Metrics<br />BrandonMcNamara.com<br />
    58. 58. Goals / Funnels<br />BrandonMcNamara.com<br />
    59. 59. Keep it Simple w/ Goals<br />BrandonMcNamara.com<br />
    60. 60. Conversions are “signals” <br />Set up conversion goals<br />Ex. Landing page -- &gt; Sign Up -- &gt; Submit<br />BrandonMcNamara.com<br />
    61. 61. Total<br />GoDaddy.Com Domain $12<br />Snappages.com Pro Account $8<br />Google Form FREE<br />Google AdWords $5<br />Google Analytics FREE<br />Total $25<br />BrandonMcNamara.com<br />
    62. 62. Lessons Learned<br />Ideas are Cheap, Failure & Feedback are Priceless<br />Vet your Ideas: the goal is to test for demand – I’ve presented one way to do this.<br />$25 is a cheap investment to test ideas<br />Look for “signals” (clicks, conversions)<br />You won’t get it right at first: Iterate, Test, Iterate, Test, Ect.<br />Have fun!<br />BrandonMcNamara.com<br />

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