Increasing the ROI of Your Beta Tests
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This presentation was given by Centercode CEO Luke Freiler as part of the Pragmatic Marketing webinar series. Listen to the full presentation by visiting: http://www.pragmaticmarketing.com/resources/increase-the-roi-of-your-betas.
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Increasing the ROI of Your Beta Tests
- 1. INCREASE THE ROI OF YOUR BETAS Luke Freiler: CEO and Founder of Centercode
- 2. ‹#› AGENDA 1. BETA TESTING BASICS 2. EXAMPLE BETA ROI 3. THE TYPICAL ROI OF BETA 4. INCREASING THE ROI OF BETA 5. BEST PRACTICES FOR A HIGHER ROI 6. NEXT STEPS + Q&A
- 3. Founder& CEO. We offer software, managed services, pre-qualified testers, and educational resources to help companies improve beta testing ROI. LUKE@CENTERCODE.COM Automotive Web Robotics Hardware Accelerator Smart Home Wearables EnterpriseSoftware Startup Gaming B2B Telecom Mobile OURCLIENTS
- 4. ‹#› BETA TESTING BASICS EXAMPLE BETA ROI THE TYPICAL ROI OF BETA INCREASING THE ROI OF BETA BEST PRACTICES FOR A HIGHER ROI NEXT STEPS + Q&A
- 5. ‹#› A test of an unreleased product by real customers in real environments. LEVEL SET WHAT EXACTLY IS BETA TESTING?
- 6. ‹#› MANY NAMES Customer Validation (CV) Customer Acceptance Testing (CAT) User Acceptance Testing (UAT) Friendly User Testing (FUT) Field Trials Pre-Release Early Release Enhanced Testing User Testing Customer Testing Target Market Testing In the Wild Testing Beta Testing (we like this one)
- 7. WHY IT’S CRITICAL A beta test validates the total performance of the product in the hands of real customers.
- 8. HOW IT WORKS 1. Recruit a pool of candidates from your target market 2. Select qualified candidates as participants 3. Prep and NDA participants 4. Distribute product 5. Solicit feedback 6. Evaluate, distribute, and implement the results
- 9. HOW IT’S CHALLENGING 1. Dedicating qualified resources 2. Recruiting appropriate beta testers 3. Maintaining user participation 4. Collecting relevant feedback 5. Evaluating and distributing feedback
- 10. WHY IT’S SO PAINFUL 1. It’s probably not your full-time job 2. It typically lacks a well-defined process 3. It frequently has no clear owner and/or contributors 4. You likely lack appropriate tools to help 5. The timing is horrible 6. It involves real customers using a buggy product 7. You’re likely worried about controlling information 8. If you succeed, you’ve got a ton of data to deal with
- 11. ‹#› BETA TESTING BASICS EXAMPLE BETA ROI THE TYPICAL ROI OF BETA INCREASING THE ROI OF BETA BEST PRACTICES FOR A HIGHER ROI NEXT STEPS + Q&A
- 12. IMPACT OF BETA TESTING
- 13. Sales and Costs Estimated Sales 200k units Unit Sale Price $100 Unit Cost $50 Beta Unit Cost $200 Incentive Costs $50/user Product and Market Release Type New Product Type Hardware Target Market Consumer Competition High Complexity High Quality Confidence High Beta Management / Resources Tools Dedicated Experience Part-Time Wage $40/h Desired Testers 30 Participation Rate 30% Duration 4 Weeks EXAMPLE ROI ELEMENTS & ASSUMPTIONS
- 14. Key Facts No Beta Basic Beta Beta Management Hours 0 73 Total Beta Testers 0 100 Participation Rate (%) 0% 30% Defects Found 0 41 Defects Fixed 0 25 Total Units Sold 190,000 200,000 Customers Requiring Support (%) 38% 36% Product Return Rate 19% 19% EXAMPLE BETA RESULTS
- 15. Financial Impact No Beta ($) Basic Beta ($) Total Beta Management Cost - (5,491) Total Logistics & Production Cost - (25,000) Total Defect Cost (585,000) (562,250) Total Support Cost (806,614) (787,510) Total Return Cost (1,087,242) (1,092,025) Total Warranty Cost (665,000) (633,333) Gross Sales Profit 9,500,000 10,000,000 Net Gain - 538,246 TOTAL ROI 946% FINANCIAL IMPACT
- 17. ‹#› BETA TESTING BASICS EXAMPLE BETA ROI THE TYPICAL ROI OF BETA INCREASING THE ROI OF BETA BEST PRACTICES FOR A HIGHER ROI NEXT STEPS + Q&A
- 18. BUG REPORTS
- 21. ‹#› BETA TESTING BASICS EXAMPLE BETA ROI THE TYPICAL ROI OF BETA INCREASING THE ROI OF BETA BEST PRACTICES FOR A HIGHER ROI NEXT STEPS + Q&A
- 22. BETA MIRRORS YOU BETA TOUCHES THE ENTIRE PRODUCT BETA REPRESENTS THE CUSTOMER A B
- 26. BETA COVERS THE ENTIRE CUSTOMER EXPERIENCE
- 28. BETA IS FOR BUILDING RELATIONSHIPS
- 30. BETA IS A SAFETY NET
- 32. ‹#› BETA TESTING BASICS EXAMPLE BETA ROI THE TYPICAL ROI OF BETA INCREASING THE ROI OF BETA BEST PRACTICES FOR A HIGHER ROI NEXT STEPS + Q&A
- 33. 1 FOCUS ON GOALS IDENTIFY YOUR CONSTRAINTS DETERMINE YOUR OBJECTIVES MAP YOUR GOALS TO A SCHEDULE DEFINE YOUR TARGET MARKET
- 34. 2 PICK GREAT TESTERS QUALIFY YOUR TESTERS AVOID ARM’S REACH SEEK OUT ENTHUSIASM LIMIT YOUR POOL
- 35. 3 BE BETA READY READY YOUR SYSTEMS READY YOUR TEAM READY YOUR PRODUCT READY YOUR TESTERS
- 36. 4 REDUCE FRICTION MESSAGE CLEARLY OFFER SIMPLE FEEDBACK CHANNELS PROVIDE SUPPORT BE RESPONSIVE
- 37. t 5 EMBRACE THE RESULTS FREQUENCY * SEVERITY = IMPACT SHARE, BUT AVOID A FIREHOSE INTEGRATE IF POSSIBLE CONSIDER FEEDBACK IN CONTEXT
- 38. ‹#› BETA TESTING BASICS EXAMPLE BETA ROI THE TYPICAL ROI OF BETA INCREASING THE ROI OF BETA BEST PRACTICES FOR A HIGHER ROI NEXT STEPS + Q&A
- 41. Thank you for attending. Please join us for our next webinar on pricing, April 25th. Download this webinar and sign up for more at pragmaticmarketing.com/pragmaticlive