Test First, Build Second


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GrowNashville presentation of how to test an online business idea first using cheap methods before ever spending time and money building it.

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Test First, Build Second

  1. 1.
  2. 2. Test First, Build Second<br />For Those Ideas You’re Not Quite Sure About<br />
  3. 3. Why?<br />Why Would Anyone Build Something No One Would Use?<br />Surprising Number Of Startups Fail Due To:<br />Poor Market Research<br />Plan To Reach Customers Beforehand<br />Blind Optimism<br />Testing Is Quick & Cheap<br />Hosting/Domain Name/Free Software/Designer*/$100<br />Internet Levels Playing Field<br />SEO & Creative Marketing Win<br />
  4. 4. Some Background<br />Web Design & Internet Marketing: 7-8 Years<br />Started With: Making Ad-Revenue Websites, Social Networking Sites, Ecommerce Sites, Twitter App…<br />Full Time Entrepreneur – Fendza.com<br />
  5. 5. How Do You Find Your Market & Get A Few People To Sign Up Without Having A Product Yet?<br />
  6. 6. 1st, Let’s Talk About The Market<br />Common Shortfall: Over-Estimate Market Size & Marketing Ability<br />Which Is Less Likely To Fail?<br />1% of 5,000,000<br />15% of 300,000<br />
  7. 7. 1% of 5,000,000<br />In Most Cases<br />
  8. 8. Market Question #2<br />Is It Easier To:<br />Talk Someone Into Trying A Brand New Type Of Product<br />Talk Someone Into Choosing Your Product Over Something Else<br />Talk Someone Into Choosing Your Product Over Something Else<br />Already A Demand<br />Inbound Marketing Is Whole Lot Easier<br />
  9. 9. Let’s Find The Viable Market<br />Competition<br />Strength? Placement in SEO rankings? Following? How Do They Market?<br />Google Auto-Complete<br />Shows Popular Search Terms<br />Search.Twitter.com<br />Real-Time Tweets<br />Google Alerts<br />Shows New Websites/News With Keywords<br />
  10. 10. Finally; Keyword Tool<br />Shows Accurate* Searched Keywords<br />Is There Enough? Search Variations & Long Tails<br />Google Each Variation<br />See SEO Strength Of 1st Page<br />
  11. 11. How Do I Get Users To Sign Up?<br />Splash Page <br />Photoshop Picture Of Prototype<br />Describe Product<br />Call To Action Button<br />Offer Coupon For Sign Up & Collect Emails/Phone Numbers Bonus<br />Advanced Splash Page/Site<br />Features Page<br />Pricing to Signup Page<br />Contact Us<br />Phone Number<br />Perfect If Customers Call You With Questions<br />
  12. 12. Drive Traffic To Your Splash Page<br />Google AdWords<br />$100 Will Normally Get 400+ Clicks*<br />Free $75 Vouchers Everywhere Right Now<br />Target Forums & Join Discussion<br />
  13. 13. Calculate Your Sign Ups<br />Check Your Conversions On Sign Ups<br />I’ve Usually Gotten 5%-15%<br />You Now Have Email List Of Potential Customers<br />Email Or Figure Out What They Want/Need*<br />Taste Of What It Takes To Bring Traffic<br />Good Conversions Or Customer Feedback<br />Build Splash Site More Advanced: Blog/Social Media/Demo<br />Continue Marketing & Build SEO Ranking<br />Bad Conversions Or Poor Feedback<br />Rinse & Repeat<br />
  14. 14. Real World Example: Fendza<br />Market Research<br />Keyword Traffic<br />Competition Weaknesses: SEO, Design, Marketing<br />Advanced Splash Site<br />Sign Ups: Over 500<br />Many Phone Calls & Emails<br />SEO Rankings<br />All Without A Launched Product Yet!<br />
  15. 15. That’s All Folks..<br />Power Point Will Be Made Available Online Afterwards<br />Questions???<br />