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4 tools for quick market validation

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See the video at http://youtu.be/zZnwDedZu1A

Market validation is a crucial first step before spending a lot of time and money rolling out a new product. The process lets you prove out the various elements of your business model before you launch, so you can reach customers in a predictable way.

When it comes to market validation, it’s all about your target customer. Are you reaching the right people? How do get enough of them? How do you learn quickly so you can build the right product and go to market with the wind at your back?

Brian Gladstein is a market testing expert who has helped dozens of companies through this critical phase of product development. He discusses some of the best tools available for quickly reaching your target customers and validating the most important aspects of your product and your go-to-market strategy.

In this webcast we cover:
- Unbounce: for testing user experiences
- FiveSecondTest: for assessing messaging coherence
- Zintro: for connecting with experts in any given field
- AskYourTargetMarket: for consumer surveys

Would you like us to talk about another tool that's great for market validation? Let us know! We would love to hear from you.

Published in: Technology, Business

4 tools for quick market validation

  1. 1. 4 Tools For QuickMarket Validation @explorics Aggressive Market Testing Lean Startup Coaching
  2. 2. @exploricswww.explorics.com@briangladsteinbg@explorics.com
  3. 3. about market validation
  4. 4. if you build it, will they come?Market Validation:•The first step before spending significant time andmoney on product development•Validate demand, business model•Eliminate risk, increase reward
  5. 5. a “famous” examplehttp://www.youtube.com/watch?v=7QmCUDHpNzE
  6. 6. another “famous” example http://mixergy.com/andrew-mason-groupon-interview/ “All we did was we took a WordPress Blog and we skinned it to say Groupon and then every day we would do a new post with the points embedded. It was totally ghetto… “It was so cobbled together. It was enough to prove the concept and show that it was something that people reallyAndrew Mason liked.Founder & CEO Groupon “The actual coupon…was all FileMaker. [We’d] email the coupon PDF to people.
  7. 7. a good market validation test: 1. Is built around a pre-determined hypothesis 3. Doesn’t require much up-front investment 5. Reaches Your target customers (and not the ones you already know)
  8. 8. organizing your test Target Communication Offer Customer Channel Pain Point Message Interest / Value• Define what you know, what you are testing• Test one variable at a time
  9. 9. a great starting point The Business Model Canvas The whole business plan, on one piece of paper. Identify gaps, unknowns, risks – this is where to start testing.LEARN MORE AT OUR NEXT WEBCASTThursday, May 10, 2012 @ 2pm ETwww.explorics.com/upcoming-webcasts
  10. 10. the tools
  11. 11. Create surveys and send them to your idealWhat It Is market segment.Why You The hardest part of surveying is finding theNeed It right people. • Target marketUse It To • Pain points & opportunitiesValidate • Value proposition
  12. 12. When to  Goal is to better define yourbuild a test target market.around it  B2C or similarly broad target.  You can narrow down on specific, actionable information.Let’s See!
  13. 13. Access to over 40,000 experts in anWhat It Is incredibly diverse set of fields.Why You A little guidance can have an enormousNeed It impact. • Market & Competitive LandscapeUse It To • Buying & Purchasing ProcessesValidate • Partnerships
  14. 14. When to  Niched, B2B, or hard-to-build a test reach target market.around it  Direct sales of some sort involved (inside, field, channel).  Expertise in the sales cycle is valued.Let’s See!
  15. 15. Users see an image (like a web page) for 5What It Is seconds, then provide feedback.Why You Do people really see what you think theyNeed It see? • Key Messages & TakeawaysUse It To • ClarityValidate • Design
  16. 16. When to  Goal is to measure a firstbuild a test impressionaround it  Broad audience can be used for validation (“imagine if…”)  You can access a community for extra juiceLet’s See!
  17. 17. Create, publish, and optimize landing pagesWhat It Is quickly and by yourself.Why You In market testing, conversion is king.Need It • MessagingUse It To • Qualification of Target MarketValidate • Calls To Action • Conversion Expectations
  18. 18. When to  Goal is to establish orbuild a test improve conversionaround it  Steady, online source of target customers  Multiple engagement offers available  A/B TestingLet’s See!
  19. 19. recapThe hardest part of A little guidance Do people really In market testing,surveying is finding can have an see what you think conversion is king. the right people. enormous impact. they see?• Target market • Market • Key takeaways • Messaging• Pain points landscape • Clarity • Qualification• Value prop • Buying process • Design • Calls To Action • Partnerships • Conversion
  20. 20. Thank you!Follow Us! Questions?http://explorics.com/blog @briangladstein @exploricsUpcoming Webcasts bg@explorics.comhttp://upcoming-webcasts www.explorics.comThursday 5/10, 2pm ETLiving Lean Startup: The BusinessModel CanvasThursday 5/24, 2pm ETInbound Marketing: ShiftingBudgets, Shifting Expectations

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